Hudson Bay Mountain in British Columbia has new owners as of mid-December. The trio of new owners are shifting plans for development and forging ahead with making the resort into a regional attraction.
The previous owner, the 20/20 Group, closed the sale with the new owners Dec. 13. The new owners, a trio of investors with equal shares, is headed up by Lorne Borgal, the former director and officer, but not shareholder of the 20/20 Group.
"The previous owner of the resort wanted out. The real estate downturn left no ability to cope with this investment," Borgal told OnTheSnow. Summer grooming pruned eight-foot-tall trees from slopes, and aging equipment was refurbished, but plans for a new lift never materialized, and real estate sales of single-home lots bogged down. Approvals for the road design in the real estate development came last year.
The new owners plan to be busy in 2011. They aim to launch a condo and townhouse product by February and install services in the real estate development this summer. "There's a bigger market for condos and townhouses than single family lots," Borgal explained the shift in real estate focus.
The real estate development, which is 100 percent ski in-ski out, sits adjacent to Skyline Lift. "You're pretty high on the mountain still, and the development is above typical inversion cloud level," added Borgal. Its elevation lacks a freeze-thaw cycle in the snow, which lingers until the end of May.
"Our direction is to move forward, making Hudson Bay a resort for the north," said Borgal. "A new lift is in the near term, but not next year. At some time in the future, we'll see a 3,000-foot powder run, but for now, we're focusing on being a regional resort for the north."
Resort personnel reacted favorably to the sale. "All of us at the resort are so pleased with this turn of events," said General Manager Nancy Treiber.
The resort opened this season in late November. It operates Wednesdays through Sundays and daily Dec. 15-Jan. 3 and March 2-27.
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