Bear Valley back on market

By Mike Morris / The Union Democrat

A prospective buyer of Bear Valley Mountain Resort has backed out of the deal, but Bear is still expected to open for the season, the resort announced Wednesday afternoon.

The purchase contract, signed by the unnamed company in June, was terminated this week.

"The interested group had been working through due diligence for several months and, although it remains interested, concluded there is insufficient time now to complete the process and then take the reigns this close to the start of ski season," read a statement released by Bear Valley.

The resort, off Highway 4 in eastern Alpine County, plans to open for the 2013-14 ski season. Bear Valley aims to hire more than 200 additional staff members for the upcoming ski season, and a job fair is slated for next month in Arnold.

"Given the fact that it is September and there are many moving parts of this transaction, it is not feasible for a team to take ownership of the resort now and effectively prepare for the 2013-14 winter season," said Greg Finch, managing partner of Bear Valley Resorts. "As we worked through the contract process, it turned out that the ski area was the easy part and the village land assets provided the complications. We believed we had effectively dealt with the issues, but we just ran out of time."

Bear Valley spokeswoman Rosie Sundell explained that managing Bear Valley Village can be complex because it includes Forest Service, county and private land.

The resort is now owned by partners Dundee, San Jose-based developer Toeniskoetter, Breeding & Halgrimson and Palo Alto-based Radar Partners, a venture capital firm.

The 1,700-acre ski resort went on the market last year. Included in the offering are slopes leased from the U.S. Forest Service, the 53-room Bear Valley Lodge, restaurants and retails shops in Bear Valley Village, a 9,000-square-foot employee housing complex and 11 acres identified for condominium development.

After about seven years of planning and environmental review, Alpine County approved a development plan in December 2012 that will permit construction of more than 300 condominiums, a new lodge, a chair lift from the village to the mountaintop and an outdoor amphitheater.

Bear Valley owners have previously stated an infusion of millions of dollars in capital through either a sale or investment partnership will be necessary to advance the plans.

11906465
The Union Democrat
This image is copyrighted.

Reach all of Sonora, Calaveras County, Tuolumne, Angels Camp, Twain Harte, & Jamestown with your items to sell.

Ads appear Online and in Print

View Classifieds Place an Ad

Connect with The Union Democrat

Union Democrat Newsstand

Friday May 27, 2016

Read digital interactive editions of our publications

Read Today's Edition Take A Tour

More Publications by The Union Democrat

View All Publications
Homelessness, high school and the Butte Fire

05/20/2016

Cole Baisch arrived at Calaveras High School around lunchtime as the sky ... more

Avalon Care Center fined for patient death

05/24/2016

Avalon Care Center in Sonora has been fined $80,000 by the California ... more

UPDATE: Probe begins in Don Pedro fire

05/25/2016

Investigators began sifting through the rubble of the Don Pedro Recreation Agency ... more

Sheriff’s deputies respond to alarm at Sonora KFC

05/26/2016

Tuolumne County sheriff’s deputies responded with guns drawn to a holdup alarm ... more

Deputies visit schools, build community ties

05/24/2016

You would think Tuolumne County Sheriff’s Deputy Nate Yorston was Santa Claus ... more