$200 Million Okemo Project Gets State OK

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Publish Date

09/24/2013

SAM Magazine—Ludlow, Vt., Sept. 24, 2013—The state of Vermont has given the go-ahead to a $200 million development at Okemo Mountain. The development will be led by Timber Creek at Okemo, a private investment group, but it will connect to the existing resort. Okemo will operate the development’s two planned lifts and snowmaking on the project’s seven trails and integrate them into the area.

Focus of the development is a new South Face Village, a 208-unit community with beds for about 500. Timber Creek plans to start and complete trail and lift work in time for the 2014-15 season, with real estate development to follow once the on-mountain work is complete. The project’s novice- and intermediate-level trails will give the residential units ski-in, ski-out access. Buildout for the entire project is expected to be 10 years or more.

Ted Rossi, owner and president of Rossi Group, is the main investor in Timber Creek at Okemo, and leads a group of investors for the project. Rossi has been vacationing at Okemo for more than two decades.

Okemo itself is owned by CNL Lifestyle Properties, and is managed by Tim and Diane Muellers’ Triple Peaks, which owned and developed Okemo from 1982 to 2008.


Comments

Smart move

What have the billions really done for lake tahoe? Every time something green happens, there's something that endangers the lake. Take for example Squaw Valley's plan to convert 70 acres of dirty carpark into big carbon footprint hotel condos to reduce the 40% of Greehouse gases from cars driving around. Buses will be green. Water guzzzling high energy consuming condos and a water park have less green impact than cars, they say, that park and don't move for a week's holiday? Really, I'm dumbfounded. And they'll build a 64 acre dirty carpark next to the Lake itself. Won't a dirty carpark next to the lake cause more damage than a dirty carpark miles and miles away from the lake? I'm dumbfounded. From my perspective, the forest service and county officials need to open their minds to the spin.

Timber Creek

This project sucks!!!! It killed off a ton of great hunting ground

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