July 25, 2014 - 9:35 AM
SOUTH OKANAGAN - Mount Baldy Resort and its assets are up for sale after being slapped with a foreclosure notice.
Located east of Oliver and Osoyoos, the resort was closed during the 2013-14 season because of financial difficulties.
G-Force Real Estate issued a press release last week that said the resort’s assets including land lots, ski lift equipment, and materials contracts were for sale.
An expansion plan for the resort was approved in 2004 by the provincial government, allowing new owners to turn the resort into a 4-seasons accommodation. The new owners will be in charge of the Master Plan that allows for new developments, such as residences, hotels and retail stores.
A similar agreement was made between Mount Baldy owners and the Osoyoos Indian Band, also in 2004, to expand ski hills and lifts, and create new developments. This agreement will also still be effective under new management.
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News from © InfoTel News Ltd, 2014