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Home arrow News arrow Local News arrow A buyer for Bear Valley in wings?

A buyer for Bear Valley in wings?

A deal is in the works for the sale of Bear Valley Mountain Resort.

The resort — off upper Highway 4 in western Alpine County — has two potential buyers, spokeswoman Rosie Sundell confirmed. 

 

The potential buyer and current owners, Dundee Resort Development and Radar Partners, are “in the mode of finalizing their agreement,” she said Thursday. 

Bear Valley Mountain Cooperative, one of the potential buyers, identified the other potential buyer as Skyline Investments, a Toronto-based resort developer. 

“We have been in conversation with them. They really admire what we’ve done,” said Mike Wallenfels, a Bay Area resident who owns a home in Bear Valley and sits on the cooperative’s interim board of directors.

The group, consisting of Bear Valley homeowners and others, announced Thursday they have sold 911 memberships at $2,500 each.

In order to explore “collaborative possibilities” with Skyline, representatives with the cooperative said they have delayed a potential vote among its membership until mid-August. 

Greg Finch, president of Colorado-based Dundee, said he couldn’t comment on details of the sale.

“Obviously, both parties seem to be interested in the success of Bear Valley,” he said.

Bear Valley Mountain Resort announced in May a change among the partners that own and operate the resort, which aimed to help streamline the sale of the ski area. 

The 1,680-acre ski resort has been for sale since January 2013.

After a prospective buyer backed out last year, Bear Valley homeowners and business owners launched an initiative to run the resort as a community-owned mountain.


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Fri, 31 Oct 2014 05:11:46 -0700