Village at Northstar Gets "Topped Off

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Truckee, Calif. - May 09, 2005 — On May 5, a "topping off party was held as the last steel beam was placed into the skeleton of the Great Bear Lodge building, signifying the final piece of steel used in the Phase I construction of the new Village at Northstar. To mark the milestone, the beam was signed by members of the Village developer, East West Partners, and all of the ironworkers involved with the project, before being inserted into place by a large crane.

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"This is a significant day for us and all the people involved with the Village, said Joe Malone, project manager for the Village at Northstar. "We're right on schedule to finish construction of Phase I before next winter.

With a Phase I grand opening planned for December 2005, the 100 luxury residences in the Great Bear Lodge and Iron Horse Lodge will be completed and ready for use by their owners. Phase I will also feature 60,000 square feet of commercial space, bringing together an eclectic blend of specialty retailers. The retail core of the Village will feature prominent brands, including a flagship store from The North Face, an Oakley "O concept store, Starbucks Coffee, Keva Juice, Sports Tahoe luxury ski wear, and True North, a retail store with a large variety of top ski outerwear and equipment brands.

Following on the tremendously successful sales of Phase I, luxury condominiums are now being offered in Phase II of the Village, which will consist of the Catamount and Big Horn buildings. Groundbreaking for Phase II is scheduled for later this month.When completed, the new Village will serve as the hub of activity for the Northstar ski resort and community, including a variety of lively establishments such as shops, fine dining and casual restaurants, a book store, brew pub, coffee shop, bakery, photo shop, small convenience market and outdoor ice-skating rink.