The Ritz-Carlton at Northstar

JMA Ventures, LLC already owns Alpine Meadows (merger with KSL creating Squaw Valley Ski Holdings in 2011), Homewood Mountain Resort, and the West Shore Cafe in Lake Tahoe.  In San Francisco, CA they own the Fairmont Heritage Place at Ghiradelli Squaw, the Waterbar, and EPIC Roasthouse.  In Montana they own Red Lodge Ski Resort.

They have now added to that list a cluster of 17 condominiums and the entitlement to build another 50 from the Ritz-Carlton Development Company at Northstar ski resort.

Ritz Carlton Residencies at Northstar

“We are thrilled to acquire such an incredible, one-of-a-kind property that offers an unparalleled slope-side experience.  It is unique to be able to offer residents mid-mountain access to a ski resort owned by Vail Resorts plus access to the amenities offered by The Ritz-Carlton, Lake Tahoe. We are delighted to add this magnificent property to our portfolio.” – Todd Chapman, CEO of JMA Ventures, LLC.

These condos are connected to the Ritz by a skybridge.  Yeah, that sounds kinda nice.  “Wanna go grab a drink at the Ritz, dear?  Only if we can take the skybridge, honey.”  Most of the units 3 and 4 bedroom suites that are extremely fancy.  They are mid-mountain and being connected to the Ritz very likely doesn’t hurt property values.

JMA apparently plans to keep their foot in the lake Tahoe real estate market and I’ve gotta say, this was very likely a smart move on their part.