New Real Estate Offered at Northstar-at-Tahoe


Truckee, Calif. (January 12, 2005) - Following a near sellout last year of the Phase I real estate offerings for the new Village at Northstar, the Phase II sales launch will take place on March 19, 2005 at Northstar-at-Tahoe.

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"After the success of the Phase I sales, we know that properties at thenew Village at Northstar are some of the most sought after real estate ever offered in the Lake Tahoe region," said Joe Malone, project manager for the

Village at Northstar. "Eighty-five percent of the available residencesWere purchased at the Phase I launch and over half of the remaining Phase I properties were purchased just in the past month."

Priority reservations holders will have the first opportunity to select and purchase their Village residences. Over 230 reservations have already been received for Phase II, which is more than the company had at this time last year for Phase I. Phase II real estate reservations are being taken now through early March 2005. Based on the Phase I sales launch last year, there should be a wide variety of units still available for those who make reservations by mid February.

92 of the luxury condominium residences to be built in the second phase of the Village will be available for purchase at the sales event on March 19, 2005. Those attending the sales event will also see firsthand the progress of the Village's Phase I construction, and a completed Phase I condominium will be open for viewing.

The first phase of the new Village is scheduled for completion in late 2005. This includes the Village Ice Rink and ground floor retail in all three buildings.

Mountain improvements at Northstar-at-Tahoe are being made in conjunction with construction of the new Village. For this season, the Village Express high-speed detachable quad chairlift was installed at the mountain's base replacing the old Echo lift. Phase II construction is scheduled to begin in the spring of 2005. The one to four bedroom condominiums available in Phase II will range in price from the mid-$500,000's to $3+ million.

The project's developer, East West Partners, is a resort real estatedevelopment and management company, and its California operations are headquartered in Truckee, California. The company's other projects in the North Lake Tahoe and Truckee area include the Old Greenwood golfcommunity, Gray's Crossing golf community, the Highlands at Northstar,

Schaffer's Camp and Wild Goose Restaurant. The company also operates the Coyote Moon golf course.

The Village at Northstar is currently accepting reservations through the end of February. To make a reservation, call the Village at Northstar at 800.217.7554 or visit