49 Degrees North Gets Venture Capital
SAM Magazine-Chewelah, Wash., Aug. 8, 2007-49 Degrees North has obtained $45 million in funding from Pacific Northwest real estate venture capital firm US Resort Venture, LLC.
The 2,450-acre resort is expected to undergo several phases of development, featuring a 40-acre village as well as a variety of lodging and residential properties. The ski area, which receives an average snowfall of approximately 300 inches per year, is expected to total 2,700 residential units upon buildout.
The announcement comes on the heels of the installation of a new high-speed quad in 2006. The quad will provide ski-in, ski-out access for residents and guests of the planned development.
The projects herald the transformation of 49 Degrees North to a year-round resort, with extensive summer options for visitors including a comprehensive summer trail system, spa and 27 holes of golf.