Property

Property proprietor blames Moosehead resort demise on lack of cash

An formidable challenge to redevelop a Moosehead Lake area ski resort crumbled as a result of the developer’s financing collapsed, in accordance with the property proprietor.

The event workforce working to revive {a partially} defunct ski resort in Piscataquis County advised Japanese Maine Improvement Corp. leaders Wednesday they may halt the $126.3 million challenge.

The challenge’s demise strikes down plans to rejuvenate the area with a whole lot of jobs and a major financial enhance. A confluence of occasions — together with skyrocketing materials prices, a shifting funding local weather, challenges from a neighborhood residents group and public listening to delays — led the resort workforce to step away, in accordance with regional growth officers.

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