Northstar expands holdings: resort looks to purchase PC-2
Northstar-at-Tahoe may soon be getting a whole lot bigger.
Plans to complete development at Northstar have expanded to include golf, restaurant and housing properties in Truckee and the North Shore.
Northstar’s parent company Booth Creek Ski Group, Inc. and its development partner, East West Partners, announced the move Tuesday.
The properties Northstar is acquiring are Coyote Moon Golf Course below Tahoe Donner, Sunsets on the Lake Restaurant in Tahoe Vista and Planned Community 2 (PC-2) in Truckee, also known as Boca Sierra Estates.
Northstar and East West Partners announced last fall that they are moving forward with plans to complete Northstar’s vision by developing the remaining real estate at the resort. The three acquisitions are in addition to these future development plans, which include employee housing, a complete village remodel, additional neighborhood pockets at Northstar and adding new chairlifts.
“At Northstar, we often use the phrase ‘Make Your Own Mountain.’ Now it will be ‘make it your own resort community,'” said Tim Silva, Northstar’s general manager, in a press release issued Sept. 26. “In addition to being enjoyed by the entire community, these properties can greatly expand the range of choices available to Northstar owners and guests in every season.”
East West Partners and Northstar have signed long-term leases of more than 20 years with the owners of both Coyote Moon and Sunsets on the Lake.
According to Erin Bernall, Communications Manager at Northstar, no management or personnel changes are expected at either Coyote Moon, which is owned by Steele Enterprises, or Sunsets. Coyote Moon will remain a public golf course. At Sunsets, the Walsh family will continue to own the restaurant and no other staff changes are planned. Both will keep their current names.
“We’ve been at capacity at our golf course,” Bernall said. “Our golf business was increasing and we were looking for other opportunities to maintain our hold on the golfing community and address that need.”
East West Partners and Northstar are also entering into a purchasing contract for the PC-2 property, which includes a 790-acre parcel of undeveloped land in Truckee, located near the intersection of Interstate 80 and Highway 89 North. This existing plan for this property calls for a golf resort community with 600 homes, 175,000 square feet of commercial and office space as well as an 18-hole golf course.
“The current owners are right in the middle of the planning process for this property and they have completed a substantial portion of the environmental analysis,” said Roger Lessman, partner in charge of Truckee’s East West office.
“Obviously, we have looked over the proposed plans for the property, and we like what we see. What I would like to stress is that we intend to listen to Town officials and work collaboratively to create a project that will work for the community.”
Lessman said the intent is to extend Northstar’s boundaries beyond the mountain to encompass all the activities people want when they come to Tahoe.
Truckee Town Manager Steve Wright said town staff will have to sit down with both partners to discuss matters related to the PC-2 project, since it is currently going through its Environmental Impact Report (EIR) process.
“We would be hopeful they would be able to give us a greater level of detail as to what the development may be than the Hopkins Family has, but that’s still to be determined,” Wright said.
“That project is still in such the early development stages,” Bernall said. “We’re all kind of waiting to see what comes out of that development.”
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