Skiers ride a lift to the top of Mount Baldy. (Keith Lacey file photo)
Mount Baldy ski resort needs a relatively small investment to be able to open in December, but a suitable locally oriented investor has still not been found.
“We’re very close to having a deal to sell the resort, but there’s a couple key pieces that have yet to fall into place,” said Gary Powroznik, managing director of G-Force Real Estate, the company trying to find a buyer for Mount Baldy Resort’s assets.
A missing piece is a locally oriented investor with the funds to carry the resort through the pre-season.
Powroznik can’t give odds on a December opening, but he’s hopeful and plans are moving forward, he said.
“Nothing is for certain in life, but the stars really are lined up on this,” said Powroznik. “We’re experienced at doing this very thing and getting businesses re-established and turned around and getting teams together. I think the chances are pretty high in my view. There’s lots of people working on it. If you’ve got a couple hundred thousand dollars you want to invest, just let me know. I think that would do the trick for me.”
The ski resort 35 kilometres east of Oliver was closed during the 2013-14 season because the previous American owners experienced financial difficulties.
In July, the Supreme Court of B.C. granted a conduct of sale to a secured creditor to sell most of the assets of Mount Baldy Ski Corporation and related companies in a foreclosure action.
Because the court process wasn’t concluded until mid-July, it has been difficult to find a buyer over the summer with money to help fund the pre-season.
Powroznik said he has secured an important piece of the puzzle with an experienced resort operator who has been working with Mountain Manager Matt Koenig on a plan to open it quickly when a locally minded investor is found.
“The money is not normally the most difficult to get,” said Powroznik. “It’s the top operator.”
A locally-minded investor who can see synergies with the mountain would be very interested to see the plans as they stand right now, Powroznik said, adding the goal is to run the resort for four seasons and not just during the winter.
“Down the road, the people that are looking at this now can see a much more long-term robust resort,” said Powroznik. “Right now to get it going, sometimes just a few hundred thousand dollars can make a real difference.”
RICHARD McGUIRE
Osoyoos Times
