JPMorgan Lends $417 Million for Four Seasons Telluride Project

JPMorgan Chase & Co. provided a $417 million construction loan for the development of a Four Seasons Resort and Residences just outside of Telluride in Colorado.

The $1 billion project — from real estate development firms Merrimac Ventures and Fort Partners — broke ground with the construction loan as well as additional financing from CanAm Enterprises, according to a statement Wednesday. The project will be the region’s first luxury residential or hotel development in more than 15 years, the firms said.