July 25, 2017

Bear Valley Development News: Ski Area Readies for Expansion

Posted : January 23, 2013

Bear Valley Resorts announced that it has reached several key milestones in its master development plan, laying the groundwork for the realization of its long-planned renovation and expansion. Bear Valley has long been known as one of the regions’ premiere mid-size resorts, family-friendly and situated in a breathtakingly beautiful valley.

The milestones include the resort village receiving final approval for its Environmental Impact Report (EIR) and Master Plan, as well as the completion and approval of the Environmental Assessment (EA) for the ski area.

The ski area’s redevelopment and expansion planning began in 2005, when the ownership of the resort and the village was consolidated. At that point, ownership partners laid out a long-term master plan in several phases: the purchase of the resort and village properties; the permitting and entitlement phase; an investment cycle; and a development phase. After nearly seven years of painstaking regulatory and environmental work, the first two phases are now complete.

Greg Finch, the managing partner of Bear Valley Resorts, said, “After many years of very hard work, we have completed the entitlement phase and are now moving into the investment cycle. It is very exciting after all this time to be able to actually start thinking about what we can do, instead of working through regulatory issues. All the groundwork for a spectacular development has been laid -this will be one of the jewels of the Sierra.”

The partnership is now actively at work securing the capital needed to fund the planned expansion, which includes projects such as installing chairlifts; including a lift that would link the Village to the ski area, mountain top dining and a pedestrian village with retail, dining and plans for up to 350 residential units.

“I don’t see the future expansion as changing anything about the unique mountain village living experience that Bear Valley families now enjoy,” said Terry Woodrow, an Alpine County Supervisor. “In addition, it will introduce more families to the area and will help expand economic opportunities in our region. The community is pleased that the Bear Valley ownership group pursued this long regulatory process through to completion and we are looking forward to the future expansion and redevelopment.”

“We’re quite confident that we will secure funding for the expansion,” noted Finch. “Bear Valley represents one of the last great development opportunities in the Sierra. It is the closest multi- facet resort to many of the residents of the Bay Area, and will forever feel uncrowded and unspoiled. Completing all these entitlements is a huge accomplishment but it is just the start. Any meaningful next steps will require a great deal of capital and we want to build on our current momentum.

Finch also noted that he is seeing positive change in the local and national real estate market after several years of depressed pricing and sales. “While we are still some ways away from a total recovery, the movement is finally in the right direction.”

“Alpine county is one of those truly special places in the Sierra and among its greatest assets are two of the best ski resorts in California,” stated Michael Berry, long term CEO of Kirkwood and now President of the National Ski Area Association (NSAA). “I see Bear Valley Mountain as one those rare gems that with a caring group of investors can pursue a renovation and expansion plan that will create a truly unique destination….a place where families can gather and enjoy a spectacular mountain resort summer and winter,” he added.

 

Information from a Bear Valley press release (Jan. 23, 2013); Photo Credit: Cedar Creek Realty

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  1. Wonderful news!!