Why Buy A House When You Can Buy A Mountain? [NPR]
It’s not your everyday real estate deal. A team of young entrepreneurs persuaded about 50 deep-pocketed investors to help them purchase a mountain. The deal just closed in April, and development on Utah’s nearly 10,000-acre Powder Mountain is now underway.
“When we made those first phone calls, everybody’s like, what? That being said, they know that we aren’t kidding,” says Jeff Rosenthal, co-founder of Summit, the group that led the purchase of the peak.
Summit is a company that until now has specialized in putting on invitation-only-event experiences, gathering boldfaced names from across various fields. It started as a way for young tech founders to get together and share ideas, but it’s grown to include leaders in business, entertainment and philanthropy.
By buying a mountain, Summit’s going beyond building conferences. It’s now trying to build a permanent place. The team wants Powder Mountain to be a new creative center to incubate ideas, host events and let smart people come together in a place where they can let their guards down.