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MOAB, UTAH — Sonneblick-Eichner Co. has secured $50 million in construction financing for Phase I of Lionsback Resort, a 175-acre development in Moab. Situated adjacent to Canyonlands and Arches national parks, Lionsback’s $350 million, five-year development plans includes 188 single-family residences and a resort hotel.
Proceeds from the fixed-rate, non-recourse construction loan will be used to complete the Phase I onsite infrastructure improvements and vertical construction of the initial 34 single-family homes, as well as the horizontal infrastructure of Phase II.
Moab is located in the eastern portion of Utah, near the Colorado border, Colorado River and Arches National Park.