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Posted by: thepinetree on 01/23/2013 08:53 AM Updated by: thepinetree on 01/23/2013 10:52 AM
Expires: 01/01/2018 12:00 AM
:



Bear Valley Development Reaches Key Milestones!! EIR and EA Have Been Approved

Bear Valley, CA...Bear Valley Resorts announced today 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. Situated between Lake Tahoe and Yosemite on California's scenic Highway 4, 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.

About Bear Valley Mountain & Bear Valley Village - Bear Valley Mountain and Village is the premier family mountain sports and lodging destination in the Central Sierra. Conveniently located on National Scenic Byway Highway 4 in Northern California's Sierra Nevada mountain range and surrounded by two of California's largest federally designated wilderness areas, outdoor activities in Bear Valley are abundant. The ski and board area offers 1,680 acres of varied terrain, more than 70 trails, two terrain parks featuring more than 18 features, and 1,900 vertical feet. Bear Valley averages over 30 feet of annual snowfall per year. Bear Valley Village is home to a variety of services, shops, restaurants and a wide range of accommodations. Winters provide skiing, snowboarding, cross-country skiing, sledding, snowshoeing and snowmobiling. Hiking, fishing, cycling, rock climbing, kayaking, camping and a variety of cultural events make for a perfect summer of activities. More information is available at www.bearvalley.com.




Comments - Make a comment
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Wonderful news!!
Posted on: 2013-01-23 09:25:34   By: Anonymous
 
Excellent!! This will pave the way for further enhancements to our area! Gratitude to the development team for their perserverence to see this through! Thank you....

[Reply ]

Are They Kidding!
Posted on: 2013-01-23 10:19:59   By: Anonymous
 
I thought Dundee was a development corp?
They are now looking for capital?
Why did they make it sound like that was in place all along?
Sounds like nothing will change at all

[Reply ]

    Re: Are They Kidding!
    Posted on: 2013-01-23 10:51:22   By: thepinetree
     
    In our background work over the summer it came to light that in the partnership agreement there is a window that when the EIR and EA were completed there was a window for the partners to sell their shares or sign on for the full development process.

    We are there now. Expect some of the partners to exit and others to replace them as the project goes forward.

    John

    [Reply ]

      Re: Are They Kidding!
      Posted on: 2013-01-23 22:12:50   By: Anonymous
       
      The partnership change in an undertaking of this level is not that uncommon and we thank you for the insight into that side of things. All we have wanted all Summer is to know what is happening in our community instead of the silence that prevailed. The wind of progress definately died over the course of last winter and with the decision to close last Summer. And this project has not been the slam dunk Dundee was hoping for. Understood. Welcome to California.
      The biggest concern on everyone's mind, current employees and the entire Hwy 4 corridor, and especially the local community of Bear Valley, is whether or not we are going to have something to be proud of and want to be a part of.
      The recent events including the lack of information has left a bad taste to many members of our community. We all realise a change does need to happen so we can make our town and ski area a great place, the same as it was in the first 25 years.
      Sad to say though cofidence is not high unless some serious changes take place within this current reign of disfunction.
      We can hope and ask that a new partnership will involve some passion and respect for our community and the mountain we all love. And an understanding of what it will really take to make our mountain's full potential come to fruition. That has seemed to be very lacking since 2005.
      This is a big undertaking ahead but the track record for the last 7 years has indicated we need more than promises of condos and a new lift. Good luck with that, but let's get what we do have running like a real business before we have a bigger mess on our hands.
      Remember : Tamarack in Idaho and how about The Yellowstone Club. Great ideas, just poor investment decisions and management. Change your track record with us Dundee and partners. PLEASE!!




      [Reply ]

Kudos and Hopes
Posted on: 2013-01-23 10:25:04   By: Anonymous
 
Kudos the effort was not abandoned and that at least discussion is ensuing regarding finding funding partners. It is with great hope the uncertainty that occurred this year with opening the resort does not occur again-we are personally aware of many who chose to plan vacations and season pass purchases elsewhere due to the lack of certainty the resort would be available this year. It is further hoped that once efforts actually begin in construction EVERY effort and mandate will be made to utilize local labor (as a requirement included in the bid process) and or to utilize any and all regional qualified contractors during the build phase. Furthermore that any and all subsequent business lessors be required within their lease agreements to hire substantial numbers by per centage, of local labor and utilize sub and general contractors qualified of course from the local region during tenant improvements and or build outs for the proposed retail and other improvements. Caring and utilizing the local population and encouraging new tenancy for labor locally, will repay ten fold over imported labor and contractors in loyalty and low turn over even at minimum wage positions. The cycle will begin wherein new folks move and reside and spend their paychecks here spurring on our local economy and allowing for recovery and growth to begin
again. Rah Bear !! Congrats

[Reply ]

No Subject
Posted on: 2013-01-23 12:28:42   By: Anonymous
 
Wait till the ever wise John Buckley hears of this, he will put all of his minions to work to stop it! This guy and his organization would like to stop any development in the hills, just ask them! You see, building in Copper for example is alot better than putting 2500 new homes on prime farm land, but John is too smart to figure that one out!

[Reply ]

    Re:
    Posted on: 2013-01-23 12:50:17   By: thepinetree
     
    He has signed off on this project after they made adjustments for his group

    [Reply ]

No Subject
Posted on: 2013-01-23 21:31:05   By: Anonymous
 
This is the best news I've heard this year! Congratulations to all of those that kept pushing to get the approvals. This is the best thing that can happen for this community

[Reply ]

No Subject
Posted on: 2013-01-24 11:05:31   By: Anonymous
 
So does this mean that Chuck Toeniskoetter and co are about to exit? They lost interest in funding growth years ago and have been nothing but a dead weight to BV and it's goal of realizing the original master plan.

[Reply ]


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