NEDERLAND, Colorado – There’s a good chance you’ve heard of POWDR‘s intentions to sell multiple ski areas across the United States in the near future, including Colorado’s Eldora Mountain Resort. While it’s still in the very early stages, the Town of Nederland has announced that it is considering attempting to purchase the ski area.
The town shared their intentions through a Facebook post, clarifying that nothing is finalized and that there’s still a host of things to figure out before making a bid. They answered several questions that they believe will be quite common over the coming weeks, including why they want to purchase the mountain, how they believe it will benefit both employees and the public, and much more.
“The Town of Nederland is considering the acquisition of Eldora Ski Mountain to foster new community-centric benefits, including improved local recreational opportunities, economic growth, and sustainability. The acquisition would enable the town to control the use of the mountain area for activities beyond the current winter sports, such as concerts, night skiing, as well as summer events. It also provides an incentive to encourage the development of complementary industries within the town, such as hospitality and outdoor recreation services, and to potentially encourage related outdoor recreation businesses, such as outdoor product manufacturing. As part of owning the ski mountain, the town would emphasize environmental sustainability and social equity, including affordable access for locals and workforce housing.
However, to be clear, no decisions have been made and we are working through a process. There are currently no agreements or contracts between the Town of Nederlnand and POWDR, the owners of Eldora.” – the Town of Nederland
The town is currently creating coalition of supporters, investors, and partners to build capital for the purchase. The town is considering using grants, public-private partnerships, crowdfunding, sponsorships, philanthropy, and impact investing to raise the necessary funds. A specific price for the mountain is not yet known, but the town believes it will cost between $100M – $200M based on the sales of other resorts.
The current plans involves partnering with a private entity and hiring experienced management to run the mountain, given the town’s lack of experience with resort management. Nederland would retain ownership while delegating operational responsibilities.
“Nederland, we are excited about the possibilities that lie ahead and we recognize there is a lot to work through. We know we still have a lot of information to gather and review. We know we need to balance our current needs with the needs of our future. However, this is a once in a lifetime opportunity. Eldora represents a natural and cultural icon in our backyard and if there is anyone who should take it under their care and nurture it, it’s us, who see ourselves as a town inside a park.” – the Town of Nederland
More information of the town’s plans is available below: