Appellation Sun Valley
Rural EB-5 Project approved by USCIS
Long known as a top summer and winter resort destination in the United States, Sun Valley’s popularity has grown even more over the last several years, with real estate volume and pricing per square foot doubling since the beginning of 2020.
The development project is located at the entrance to the City of Ketchum, ID, and consists of a fully entitled 73-room resort hotel and 12 penthouse condominium residences. The vertical construction is scheduled to begin in the fourth quarter of 2023.
An exceptional project by an experienced team: The project will be managed by Appellation, which is led by renowned restaurateur Charlie Palmer and Chris Hunsberger (former head of The Americas operating division of Four Seasons Hotels and Resorts) along with reputable local development partners.
$130.5M development of Appellation Sun Valley includes:
- Land – 40,631 square feet entitled site
- Gross building size – 147,820 square feet
- 73 guest rooms (average size of approximately 420 square feet)
- 12 condominium residences (28,238 square feet)
- Four stories above grade building with three sub-grade levels (including parking)
- Signature Restaurant and Bar operated by Charlie Palmer
- Architect: Hornberger + Worstell, Inc.
- Construction period from Q4 2023 to Q4 2025 (around 30 Months)
The EB-5 Program Highlights
- Minimum Investment Amount: $800,000
- Target EB-5 Investment Amount: $42.4M (53 investors)
- Total Investment Amount: $130.5M
- Projected Total Job Creation: 1,038 (Required: 530 / 95%+ cushion)
- Mezzanine Debt Term:
3-Year Loan Term with Two 1-Year Extensions (3+1+1) - Project Status:
Vertical construction is anticipated to start in Q3 2023
Job Cushion: The EB-5 fund will ultimately have a job cushion of approximately 96%.
Rural Project: The Appellation Sun Valley is in a rural area and qualifies for the annual 20% set-aside for rural projects per the EB–5 Reform and Integrity Act of 2022 (RIA).
I-526E Denial Repayment: Loan repayment guaranty by the development team in the event of an I-526E petition denial.
Secured Loan Structure: Construction completion guarantee and low-risk EB-5 mezzanine loan financing.
Completion Guarantee: Developer has unconditionally guaranteed the completion of the EB-5 project.
Regional Center Success: This is the 15th EB-5 fund offered by Golden Gate Global and follows a perfect track record of project approvals.
*Investment amount may change based on USCIS guidelines or the passage of an EB-5 Bill in Congress.
Project is Under Construction
Construction is approximately 70% complete. Progress includes advancement across the building’s structural, exterior, and interior components. Core structural elements are complete, exterior enclosure work is well underway, and interior mechanical, electrical, and plumbing systems are nearing later stages. Interior finishing activities have also commenced.
Construction Update - January 2026
- Interior columns, exterior concrete walls, interior concrete walls, decks, and elevator shafts have been poured
- The installation of the structural steel for the penthouse is complete
- The roof is complete
- The steel stairs are complete to the rooftop
- A majority of the exterior metal siding is installed
- Windows and doors are installed
- Waterproofing is installed
- The planetarium dome is complete
- Installation of the overhead plumbing, fire sprinkler, and light fixtures is complete on multiple levels
- Plumbing, electrical rough, and HVAC work are nearing completion
- Interior wall framing and drywall installation are in progress
Construction Update - June 2025
- Approximately 47% of construction are complete.
- The concrete decks were poured to the top floor. All interior columns, exterior concrete walls, interior concrete walls and elevator shafts have been poured.
- The installation of the structural steel for the penthouse was in progress through the steel and metal deck.
- Level P2: The installation of the overhead plumbing, fire sprinkler and light fixtures was complete. The hot water heater boilers and storage tanks were set. The main HVAC return ducts were on site.
- Level P1: The installation of the overhead plumbing, fire sprinkler and light fixtures was complete. The electrical switchgear was set.
- Level 0: The metal stud framing was complete at the exterior. Plumbing top out was in progress.
- Level 1: The metal stud framing was complete to 30% at the exterior. Plumbing top out was in progress with the waste and vents in place and the water lines in progress. Condensate lines were installed.
- Level 3 interior stairs were in progress at one of the two stairways.
- Level 4: the fan coils were installed to 50%.
- Level 5: Penthouse steel was installed.
Construction Update - April 2025
- Subcontractor trades on site during Q1 2025 include electrical, concrete, rebar, plumbing, mechanical, waterproofing, steel, and general labor.
- Post-tension cable and rebar placement are in progress on multiple levels.
- Staircase erection is in progress.
- Shoring is in place.
- The concrete is complete through the grade level and ramp to the basement. The first-floor deck and second floor deck concrete are poured.
- The columns and interior shear walls are poured to the third floor.
Construction Update - January 2025
Disclaimer
The information provided in these materials for Golden Gate Global (“GGG”) or in any communication or other materials containing a website link to www.3gfund.com is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation. Neither the information nor any opinions or views expressed herein constitutes an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any offer or sale of securities in any jurisdiction where such offer, solicitation or sale is not permitted. Any offer of securities in any project may only be made pursuant to a written private placement memorandum and other documents, as evidenced by a properly executed subscription agreement, and only then as permitted by applicable securities laws.
*Investment amount may change based on USCIS guidelines or the passage of an EB-5 Bill in Congress.
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