Eden, Utah — The private side of Powder Mountain, Powder Haven, is experiencing a building boom. Thanks to the vision of Netflix Co-Founder Reed Hastings, Powder Haven is seeing hasty property and land sales. To capitalize on this momentum, a nearby college is selling its land back to the ski resort, with the proceeds intended to fund an attempt to build out an educational facility.
The Salt Lake Tribune reports that Weber State University has sold its parcels atop Powder Mountain back to the Utah ski resort. The university is selling its two parcels, which total 3.46 acres, to Powder for $3.2 million. According to the University, this is “well above” its market value.
Damian Lillard’s alma mater took hold of these parcels in the 1980s, when Powder Mountain was a bit more modest. They wanted to turn it into a scientific research facility or observatory. However, years of delays due to various factors, such as permit issues and the area’s light pollution, led them to forgo redevelopment. Instead, Weber State University will invest in a property it owns near Yellowstone National Park.
The sale was approved by the University’s Board of Trustees. Final approval from the Utah Board of Higher Education is expected soon.
Image Credits: Powder Haven
