To e honest, this group has a better chance of getting an Arrow (replica) flying than the "Super Arrow" does of ever seeing a hangar or a runway.
I will note that they've got wooden mock-ups, but the main wing-spars are actually Carbon Fiber. They posted a video of them laying one up and vacuum sealing it to get the bubbles out.
They've got over $150k in the bank (according to one of their statements) have plans to buy a hangar, have $100,000 set aside for that and have a grant application in for fund matching.
It appears not to be a fly-by-night group, rather, they seem fairly well organized, funded, and their estimate is that they have 40% of the airframe done.
*Edit to add* They also did structural testing of their wing spar design last year, and the loading was for 5000 lbs, the spar broke at 9,000 lbs. Almost a 2X factor.
Neat.