Intrawest Moves on Plans to Build the Village at Squaw Valley

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Olympic Valley, CA Dec. 31--Intrawest, in agreement with Squaw Valley Ski Corp., is moving forward with plans to develop the long-awaited Village at Squaw Valley. The Placer County planning commission unanimously approved their Master Plan for the village last fall and Intrawest will begin selling real estate this winter.

"This is the first time a project of this magnitude has been approved by Placer County with no appeals," said Bill Combs, the Senior Planner for Placer County Planning Department. "

The Master Plan for the Village at Squaw Valley calls for 680 mountain homes, 80 shops and restaurants and an underground parking lot. The village will be completed in four phases, with the first slated to begin this spring, 2000.

"The intent of the village is to create a place that will be the heart of the 21st Century Squaw Valley resort and become the hub of excitement for the North Lake Tahoe area," explained Tom Jacobson, Vice President of Resort Development Group for Intrawest Squaw Group.

The cost of the entire project is undisclosed, but it is estimated to take 5-7 years to complete. Sources at Intrawest refused to release specific details.

Phase I, called First Ascent, will include 25 shops and restaurants and 139 mountain homes. Real estate sales for First Ascent will begin this winter.

For more information on the Village at Squaw Valley, call the Discovery Center at 877-377-3888 or visit Intrawest's website at http://www.intrawest.com/squaw/html/index.html.