Berkshire Bank’s foreclosure on the largest private ski resort in New England is moving forward, Vermont Public Radio reports. A judge sided with the lender yesterday allowing a receiver to soon take over operations of Haystack Mountain, a golf course and associated properties. The Massachusetts-based bank says the Hermitage owes $16.3 million in principal plus penalties and interest on three loans initially worth $17.1 million. In his decision, Judge John Treadwell wrote the Club “lacks sufficient resources to adequately protect and preserve the subject property.” The news comes a week after Hermitage management said two buyers were interested in purchasing the resort.
Earlier in the week, the same court ruled in favor of a man owed $1,373,693 on a $1.4 million loan for a nearby inn the Hermitage bought. Club founder Jim Barnes has 30 days in which he can reclaim that property, which currently sits empty with no insurance. Judge Treadwell also signed off on an Iowa company’s request to repossess 74 golf vehicles with help from the local sheriff. The court then ruled in favor of a New York couple who paid nearly a million dollars for a slopeside townhouse that was never delivered. A local excavation contractor also filed suit this week seeking $450,000 plus interest for work allegedly completed but not paid for.
The exclusive ski resort near Mt. Snow includes five chairlifts, three of which are just a few years old. The flagship is one of the first lifts with heated seats and bubbles in the United States and cost $6.9 million. There are also two newSkytracs which could prove valuable in an auction. The ski mountain last operated on March 25th, after which it was shut down by the Vermont Department of Taxes for the second time in a month. The Hermitage Club reportedly owed the state more than $1 million in sales, meals and rooms taxes plus property taxes to the towns of Dover and Wilmington. Berkshire Bank says it paid many of them to avoid a tax sale.
The proposed receiver, FTI Consulting, is the same outfit that assisted during the Yellowstone Club bankruptcy and reorganization. The Hermitage will become the third Vermont ski resort currently in receivership. Back in 2016, a federal court appointed a Florida law firm to temporarily take over Jay Peak and Burke Mountain following emergency action by the Securities and Exchange Commission. Hopefully all three mountains will find capable new buyers in the year to come.
The White River National Forest will consider yet another new lift project over the coming months, this time high on Aspen Mountain. A Notice of Proposed Action released today comes as the most-skied forest in the country simultaneously weighs proposals for two new lifts on Vail Mountain, two in McCoy Park at Beaver Creek and one at Aspen Highlands. For Ajax, Aspen Skiing Company proposes to build the long-dreamed of Pandora lift to the east of the current Gent’s Ridge lift while adding 148 acres of new terrain. The 4,191-foot top drive detachable quad would likely meet the Forest and SkiCo’s shared goals of enhancing terrain variety, improving circulation and providing reliable and consistent snow coverage.
Unlike many of its peers, only 37 percent of Aspen Mountain occupies National Forest lands while the other 63 percent is privately held. The new lift would traverse some of each and move up to 2,000 skiers per hour to the summit. Vertical rise would be 1,220′ compared with 1,079′ at the longer and flatter Gent’s Ridge. Aspen Skiing Company also proposes to add 53 acres of snowmaking coverage on six existing trails nearby. A 30 day public scoping period runs through June 15th and input is being accepted online. Project engineer SE Group has prepared an interactive web app to assist the public and there will be an open house as Aspen’s Limelight hotel next Wednesday night. Aspen Snowmass hopes to win approval around the new year and build as early as 2019.
Come November 6th, Aspen residents will vote for Governor, U.S. House, and likely whether a ski lift should return to the original base of Aspen Mountain. SE Group and the City of Aspen today posted 61 pages of study on the new Lift One with a focus on where to site the bottom terminal, a question which has lingered since 1972. Goals include retaining the historic structures of the first Lift One, threading the needle between two new developments, and improving skier flow. An aggressive proposed timeline begins Tuesday with review by the City Council that could culminate with a new gondola-chair combination lift spinning by late 2019. That would be 48 years after a shortened SLI-Riblet double dubbed 1A eliminated easy access for much of the town to Shadow Mountain.
The current lift starts about four towers higher than the 1946 single chair did and, like its predecessor, has reached the end of its useful life following decades of service. The International Ski Federation makes no secret the obsolete machine is a big reason why Aspen does not host World Cup skiing as often as some of its peers.
But things are finally looking up – or actually down. SE Group analyzed nine chondola, chairlift, surface lift and funicular options and ones dubbed Option 1 and Option 7 were identified for detailed study that commenced in February. An A and B variation were added to alternative number 7, leaving four scenarios in play to bring the lift back into town. Option 1, shown above, would put the bottom terminal level with Gilbert Street between the old Lift 1 terminal and the “new” one. Because of space constraints with Aspen Skiing Company’s preferred Telemix (chondola in Poma parlance), the lift would likely be a straight gondola or possibly a detachable chairlift. Skier access from above would be excellent but the public would have a 40-foot vertical climb to get to the load point from town. Furthermore, the developer of the proposed Lift One Lodge would have to give up an entire building worth of units. The historic lift terminal and remaining towers from the first Lift One could be retained, which is an important community objective. This is deemed a viable, but not best option.
Jackson, Wyoming stakeholders mostly agree to site a new gondola in a public park at the base of Snow King Mountain.
Loveland will hold a lottery for season passholders to win purchase rights for Lift 1 chairs.
The final last chair for the Norway lift at A-Basin is Sunday.
We're sad to say goodbye to this legendary lift that's been sending us to the summit since 1978. Alas, it's time for Norway Lift to retire on Sun., May 13. Celebrate her final day of operation with one last ride up, and share your favorite Norway Lift stories with us! #ABasinpic.twitter.com/5oagNspkhU
They call it “the road less traveled,” a classic Vermont mountain situated about half way between Stratton and Okemo. Now in its second year of new ownership, Magic Mountain has carved a successful niche offering top quality, affordable skiing despite a competitive landscape. Ski Magic LLC added a new carpet lift and restarted work on a new double chair to service intermediate terrain soon after taking over operations in late 2016. Fresh off a successful 2017-18 season with increased skier visits, investors plan to spend an impressive $1.6 million on key infrastructure this summer including two important new chairlifts.
In addition to completing the Green Chair project by early summer, Magic announced today that a Poma quad chair will replace the Black lift, which dates back to the middle of last century. The 1962 Pohlig double was once converted to a triple with Yan chairs before being turned back into a double in recent years. Today it sports towers from Pohlig, Hall and possibly Poma and the time has finally come to retire it.
The new Black Line quad is a 1986 Poma Alpha model which is being removed from Stratton this month to make way for the Snow Bowl Express. The predecessor will find a new home less than 15 miles away, becoming the workhorse base-to-summit machine at Magic. The incoming Green Chair is also from Stratton, a Borvig removed in 1995 called Betwixed. “When we heard Stratton was replacing their Snow Bowl lift with a new high-speed detachable, four-passenger lift, our investor group jumped on the opportunity to try and purchase their Poma fixed-grip quad”, said Geoff Hatheway, President of Ski Magic. “For our ski community, this lift is a huge upgrade that meets and manages our current and future growth expectations, better fulfills customer desires for quality, reliable lift service at Magic, and sustains our reputation as an area with both minimal lift lines and low on-slope skier density.” He went on to thank Stratton President and COO Bill Nupp for his help securing the lift’s future in Southern Vermont.
Black Line capacity will more than triple from 620 skiers per hour to 2,000 with the new lift unloading slightly higher to service all of Magic’s trails. The 148 chair lift will be over 5,000 feet long with approximately 1,500 feet of vertical rise. Magic’s 1971 Heron-Poma double will stay in the rotation and operate at peak times, meaning the Black quad, Red double, and Green double are all slated for service in the 2018/19 season. With Magic’s plans, at least seven new lifts will debut in Vermont next season, the most since 1995.