Ski Resort Housing Development on Hold

A period of waiting for demand to return is probably wise. Otherwise the inventory would sit idle and over supply dampen values.

clipped from www.spokanejournal.com Ski resort will ‘wait and see’ on big project 49 Degrees North cautious about big housing project, to go ahead with lift, runs By  Jeanne Gustafson 49 Degrees North Mountain Resort says it has adopted a “wait and see” stance on a proposed $1 billion real estate development there it had announced last year, based on the troubled economy. Owner John Eminger had unveiled a master plan for the property that eventually could include more than 2,700 new homes and apartments, along with hotels, restaurants, grocery stores, retail outlets, and related infrastructure constructed over a period of 15 to 20 years. “We are being prudent businessmen,” Wolther says. “Before we dive into a multimillion-dollar development we want to be sure the area is doing well.”