A long-awaited gondola at the Palisades Tahoe Ski Resort is set to be completed for 2022-23 ski season, linking the two mountains for the first time in history.
The base-to-base gondola will climb and descend nearly 2,000 vertical feet over a 16-minute ride, creating a quick connection between the Olympic Valley and Alpine Meadows Ski Resorts, or the two halves of Palisades Tahoe.
Owner and operator Alterra Mountain Company broke ground on the $65-million, base-to-base gondola last spring as part of the Denver-based hospitality company’s newly announced plan to invest $344 million in improvements to its portfolio of resorts.
In addition to making it easier for skiers and riders to navigate the mountain in a single day, the gondola is expected to help reduce road congestion in the region, according to Jeff Brown, owner of Tahoe-Truckee’s top brokerage Tahoe Mountain Realty. Like mountain markets, the Tahoe-Truckee region has seen an influx of new residents during the pandemic. What was once a seasonal or second-home destination is now a primary location for many.
Investment in the Lake Tahoe resort comes at an interesting moment for the region, as demand continues to overwhelm supply.
What few development opportunities remain will now have the chance to be a part of what will be the third-largest ski area in North America with a combined 6,000 acres for skiing, eight peaks, and over 270 trails.
One such opportunity, in fact the area’s only private mountain resort development parcel, is ALPENGLOW, a 47-acre site at the base of the Alpine Meadows Ski Resort on the market for $15 million.
With over a decade invested in preparation, including obtaining an approved subdivision tentative map and a certified Environmental Impact Report and Conditional Use Permit, development at Alpenglow is set to be the first new product built in the valley in a generation.
Entitlements are already in place for a 38-lot residential development as well as additional parcels for neighborhood amenities. The property has also been proposed as a single estate with multiple accessory dwellings and private facilities.
With existing approvals, construction at Alpenglow is positioned to be able start in Spring 2023. Tahoe Mountain Realty holds the exclusive listing.