The new owners of Greek Peak Ski Resort in Cortland County have high hopes and big plans for the Virgil ski area, water park and lodge.

Marc Stemerman and John Meier say they never had any intention of 'flipping' the property: buying, making a few small fixes and selling it at a profit.

The Elmira businessmen and friends say work is about to begin on a new, high-speed chairlift system that would carry four skiers per chair at a time to the top of the mountain.  The new system has the potential to almost triple the number of skiers transported per hour.

Other improvements are planned for snow making equipment, slope maintenance machinery and the lodge and pub.  In all, the capital improvement plans total about $3 million.