Construction Well Underway on Hotel in Manchester Village, VT

The Taconic Hotel Set to Open in November 2015

Palm Beach, Fla. (July 13, 2015)- Heaton Companies, a luxury, boutique hotel developer based in Palm Beach, Florida, recently broke ground on the Taconic Hotel, a premium resort destination located in the heart of Manchester Village, Vermont, and anticipates its completion in late November 2015.

Heaton’s partners are Janet Jiang, whose company First Cambridge Capital arranged a significant portion of the funding with through the increasingly popular EB-5 program, and Manchester businessman Clark French.

The Taconic Hotel is a $30 million plus development project, with more then half coming from the EB-5 program, and the balance from Heaton Companies, though a local Vermont banking institution. Heaton has contracted with PC Construction, an award-winning firm based on South Burlington, to build the hotel.

“The EB-5 initiative provides an excellent opportunity to foster transnational business exchanges,” said George Heaton, President + CEO. “The program works because it provides significant benefits to all parties involved.”

The EB-5 program was established by the U.S. Congress as a method for stimulating the economy, generating job creation, and promoting community development, while allowing foreign investors to obtain residency. International investors are required to contribute a minimum of $500,000 into stateside development projects in order to qualify as a program participant.

Manchester Village is nestled at the foot of 3,816 Mount Equinox and maintains a tranquil, old-world atmosphere. First settled in 1761, Manchester Village still maintains its grace and charm of yesteryear, while offering a number of exquisite cultural, outdoor, dining and shopping experiences. Four miles of marble sidewalk, the first in the country laid in 1850 and a treasured historic feature, adorn the Village. 

“I’m thrilled to be involved in this beautiful project,” said French. “And, knowing the Heaton’s reputation of providing superior quality in every project they touch, I am confident the Taconic Hotel will offer both guests and residents the very best amenities and services possible.”

The Taconic Hotel will be managed by Kimpton Hotels & Restaurants, a boutique hospitality management company that also manages Heaton’s Vero Beach Hotel and Spa in South Florida.

Named after the Taconic Mountains, the hotel will include 87 guest rooms including three stand-alone cottages, boasting views of both the Taconic Mountain to the west and the Green Mountains to the east. The Taconic Hotel is located at 3835 Main Street, Manchester, Vermont. For more information, visit www.taconichotel.com.

About First Cambridge Capital, LLC (FCC)
Founded by Wenhua Janet Jiang, First Cambridge Capital, LLC (FCC) is a private equity firm specialized in financing EB-5 real estate development projects throughout the country. By using cutting-edge evaluation methodology and advanced real estate financial models, FCC is committed to working closely with developer partners to find or create superior real estate investment opportunities for our clients around world. Our investors consist of not only high net worth individuals but also well-known institutional investors across Asia. 

For additional information, visit firstcambridgecapital.com or call 617.491.2773.