Government & Politics  January 17, 2025

Nederland estimates Eldora purchase could cost upwards of $200M

Skiier at Eldora
A skier at the Eldora Mountain Ski Resort in Boulder County. Courtesy Eldora
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NEDERLAND — Nederland officials estimate that it could cost the town — along with any eventual investment partners — as much as $200 million to purchase Eldora Mountain from Powdr Corp., the Boulder County ski resort’s Utah-based parent company.

Town leaders believe “that Eldora Mountain Resort will sell for between $100 million and $200 million, a hefty price tag for a town of roughly 1,500 residents,” according to a lengthy post made this month on Engage Nederland, a town-run repository of information on community projects and government initiatives. “… While the purchase price of Eldora is currently unknown, we believe Arapahoe Basin’s recent publicly posted sale price of $105 million provides the most relevant comparison. However, it’s important to note that this is purely an estimate.”

Powdr declared its intent to sell Eldora, which was founded in 1962 and has nearly 700 acres of skiable terrain just west of Nederland town limits, in summer 2024, and the town government emerged as a potential buyer late last year. 

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The Denver Business Journal reported last month that a number of Boulder County business leaders, including Justin Gold, founder of the Justin’s line of nut butters and snacks, have expressed interest to Nederland officials in partnering with the town on an Eldora deal, the framework of which could involve the establishment of an enterprise fund and a sale of corresponding bonds. 

“We are currently in conversations with private entities, philanthropists and impact investors,” the town confirmed on Engage Nederland. 

Nederland officials have “partnered with a local group, who are veterans of the ski industry, and we have been invited to complete due diligence on the mountain, related to the real estate purchase and financial transaction,” the post said. “In addition, we have been invited to submit a final offer. If the final offer is accepted, then we will have to provide earnest money to secure the mountain.”

Town officials “assume that there are other private companies looking to purchase the mountain,” the Engage Nederland post said, “but because they are likely under a nondisclosure agreement for evaluation of the Eldora’s financial status, you won’t read about them in your local newspaper.”

There are a number of publicly owned ski areas in Colorado, including Winter Park Resort (owned by the City and County of Denver), Ski Cooper in Leadville (owned by Park County) and Howelsen Hill Ski Area in Steamboat Springs (owned by the City of Steamboat Springs).

Nederland officials have taken pains to attempt to assure the community that they won’t expose the town to unnecessary risk in their quest to acquire Eldora. 

“Our commitment to you all is that we will bow out of this opportunity at any time that it didn’t make sense for Nederland,” the Nederland Board of Trustees said in a statement. “As we continue to progress in these conversations we are focusing on resiliency and thoughtful planning so we can proactively address risks while maintaining Eldora as a community-driven asset that serves Nederland’s values and long-term vision. This approach ensures that Eldora remains vibrant, viable, and valuable for years to come.”

Eldora Mountain president Brent Tregaskis wrote last year in a letter to the resort community that “Eldora is profitable … and should be a very attractive purchase.”

Nederland officials estimate that it could cost the town as much as $200 million to purchase Eldora Mountain.

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A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
Categories: Government & Politics Nederland Outdoor Industry Sports & Recreation Sunday Weekly Today's News Eldora Mountain Powdr Corp.
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