Colorado's Echo Mountain has sold at auction. According to media sources, the focus of the newly sold property will be developmental and junior alpine racing. Ski, Esq. first reported the potential sale back in June. Full details after the jump.
The official press release appears below:
NEW YORK, NY August 29, 2012 – The auction sale of Echo Mountain, a
popular Colorado ski resort just outside of Denver, has just closed, paving the
way for the property’s new owner, Pykkonen Capital LLC, to announce the Front
Range Ski Club -- an alpine athletics training facility set to open in November
2012. The auction, conducted by Sheldon Good & Company, America’s leading
real estate auctioneer, drew international attention and numerous interested
bidders. Echo Mountain – which sits entirely on private land, a rarity for ski
resorts in the United States – had a longstanding reputation unparalleled in the
ski and snowboarding communities and is fresh off a record-breaking season this
year for revenue and snowfall.
Following the closing of Sheldon Good & Company’s auction sale, Pykkonen Capital LLC plans to spend an additional $5 million to expand the mountain to 1,500 vertical feet. The transformation of Echo Mountain into the Front Range Ski Club will begin in the coming weeks and encapsulate the entire property. Operating on a membership basis, the Front Range Ski Club will have a heavy emphasis on after-school programs for young alpine racers looking for advanced training. The club has already secured World Cup Alpine ski racers from around the world to be new coaches including Sarah Schelper-Gaxiola, Petter Brenna, Patrik Järbyn and Mike Farny, and expects to announce additional coaches in the coming weeks.
While Echo Mountain was already a fully functional ski resort with trails, lifts, snowmaking operations, slope lighting for night training and building amenities, Front Range Ski Club is planning additional upgrades to serve its high-performance training needs, such as new terrains and ski runs including a Super G course, a new organic restaurant, 17 additional snow guns, homework and tutoring stations, building upgrades and a new pick-up/drop off shuttle system with stops throughout Denver. Less than one-third of the property’s 226 acres have been developed, leading to many expansion possibilities.
"As a mother of children who have recently fallen in love with alpine racing, I was inspired to create a premiere training facility that provides innovative and progressive coaching in a nearby location that allows families to better balance their children’s schooling and time at home. The fact that so many families in the area share my enthusiasm and that many World Cup athletes have signed on to be coaches, demonstrates the Front Range Ski Club is a winning concept,” said Nora Pykkonen, Managing Member, who also co-founded Slalom Consulting, a national, award-winning management consulting company with 1,300 employees. Echo Mountain will be purchased by Pykkonen Capital, LLC. “Sheldon Good & Company’s sale of Echo Mountain was a compelling opportunity to help me realize this goal by purchasing a property well-positioned for success and with the addition of our innovations and insight, will be a new home base for families serious about training their children in alpine racing.”
“The sale of Echo Mountain has provided Pykkonen Capital, LLC with a once in a lifetime opportunity to leverage a hugely successful commercial development site in one of the most extremely desirable areas in Colorado, to create a property that will undoubtedly be welcomed by the surrounding neighborhood and ski industry nationwide,” said John J. Cuticelli, CEO of Sheldon Good & Company. “The site affords its new owner great flexibility to realize a number of improvements that will transform the property into a world-class destination for sports enthusiasts of all ages.”
The Front Range Ski Club is opening during a time of unprecedented demand by families searching for focused race training opportunities for their children. There are over 20,000 racers across the United States, over 2,000 are members of the nearby Rocky Mountain division and of these members 1,300 are school-aged children. Currently, many families interested in exploring full-time training often commute long distances or in some cases move to be closer to a training facility. The Front Range Ski Club will provide young athletes in the Rocky Mountain area with a new venue to train full-time and be closer to home. The property is also one of the few ski/boarding areas that has permitted slope lighting, allowing for later training hours that help balance school schedules.
Echo Mountain first opened in 2006 and is one of only 26 active, permitted ski areas operating in the state of Colorado. Located just 35 miles west of downtown Denver, it features beautiful north-facing mountain terrain that varies from 9,000 to 11,000 feet in elevation and offers unparalleled views of the Continental Divide. The property boasted the best snow in Colorado this year and averages snowfall of 220 inches with 300 days of sun annually and a ski season that often stretches into May. Loyal customers of Echo Mountain who have purchased season passes for the 2012-13 season will be contacted in the next few weeks to arrange a refund for their passes.
Following the closing of Sheldon Good & Company’s auction sale, Pykkonen Capital LLC plans to spend an additional $5 million to expand the mountain to 1,500 vertical feet. The transformation of Echo Mountain into the Front Range Ski Club will begin in the coming weeks and encapsulate the entire property. Operating on a membership basis, the Front Range Ski Club will have a heavy emphasis on after-school programs for young alpine racers looking for advanced training. The club has already secured World Cup Alpine ski racers from around the world to be new coaches including Sarah Schelper-Gaxiola, Petter Brenna, Patrik Järbyn and Mike Farny, and expects to announce additional coaches in the coming weeks.
While Echo Mountain was already a fully functional ski resort with trails, lifts, snowmaking operations, slope lighting for night training and building amenities, Front Range Ski Club is planning additional upgrades to serve its high-performance training needs, such as new terrains and ski runs including a Super G course, a new organic restaurant, 17 additional snow guns, homework and tutoring stations, building upgrades and a new pick-up/drop off shuttle system with stops throughout Denver. Less than one-third of the property’s 226 acres have been developed, leading to many expansion possibilities.
"As a mother of children who have recently fallen in love with alpine racing, I was inspired to create a premiere training facility that provides innovative and progressive coaching in a nearby location that allows families to better balance their children’s schooling and time at home. The fact that so many families in the area share my enthusiasm and that many World Cup athletes have signed on to be coaches, demonstrates the Front Range Ski Club is a winning concept,” said Nora Pykkonen, Managing Member, who also co-founded Slalom Consulting, a national, award-winning management consulting company with 1,300 employees. Echo Mountain will be purchased by Pykkonen Capital, LLC. “Sheldon Good & Company’s sale of Echo Mountain was a compelling opportunity to help me realize this goal by purchasing a property well-positioned for success and with the addition of our innovations and insight, will be a new home base for families serious about training their children in alpine racing.”
“The sale of Echo Mountain has provided Pykkonen Capital, LLC with a once in a lifetime opportunity to leverage a hugely successful commercial development site in one of the most extremely desirable areas in Colorado, to create a property that will undoubtedly be welcomed by the surrounding neighborhood and ski industry nationwide,” said John J. Cuticelli, CEO of Sheldon Good & Company. “The site affords its new owner great flexibility to realize a number of improvements that will transform the property into a world-class destination for sports enthusiasts of all ages.”
The Front Range Ski Club is opening during a time of unprecedented demand by families searching for focused race training opportunities for their children. There are over 20,000 racers across the United States, over 2,000 are members of the nearby Rocky Mountain division and of these members 1,300 are school-aged children. Currently, many families interested in exploring full-time training often commute long distances or in some cases move to be closer to a training facility. The Front Range Ski Club will provide young athletes in the Rocky Mountain area with a new venue to train full-time and be closer to home. The property is also one of the few ski/boarding areas that has permitted slope lighting, allowing for later training hours that help balance school schedules.
Echo Mountain first opened in 2006 and is one of only 26 active, permitted ski areas operating in the state of Colorado. Located just 35 miles west of downtown Denver, it features beautiful north-facing mountain terrain that varies from 9,000 to 11,000 feet in elevation and offers unparalleled views of the Continental Divide. The property boasted the best snow in Colorado this year and averages snowfall of 220 inches with 300 days of sun annually and a ski season that often stretches into May. Loyal customers of Echo Mountain who have purchased season passes for the 2012-13 season will be contacted in the next few weeks to arrange a refund for their passes.
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