Tamarack Resort announced it bought back a big piece of land that was part of its 2000s-era plans.
Tamarack acquired several tracts of land from the Idaho Department of Environmental Quality, which will add about 800 new acres to the resort’s development footprint in Valley County.
In 2018, the Tamarack Homeowners Association surrendered 532 acres of property to IDEQ to settle an $11.6 million debt traced back to the resort’s 2000s-era ownership. The debt was related to a bond for sewer infrastructure at the resort.
The homeowners’ association acquired a number of assets in 2016, including chairlifts, an unfinished mountain lodge, and a portion of the golf course from Credit Suisse. The current ownership group, led by MMG Equity Partners of Florida, purchased many of those assets from the HOA just after the DEQ sale in 2018, as BoiseDev reported.
The land purchase will link with another 300 acres it bought in 2019 that was not connected to the main resort area. It sits on the southern end of United States Forest Service land that Tamarack proposes to expand the ski resort on to in the future. Tamarack said it hopes to add 700 new homes, and some of those would have ski-in/ski-out access to the resort.
“This acquisition underscores Tamarack’s commitment to completing its master development plan for America’s only ski, golf, and lake resort and becoming the nation’s premier four-season resort,” Tamarack President Scott Turlington said.
Turlington told BoiseDev the resort paid $11.6 million for the property, which makes the state whole for the 2018 debt amount. Tamarack said it will double its developable acreage.
Under MMG’s ownership, many of the original Tamarack parcels, buildings and facilities have come back together – including rebuilding the golf course, finishing up the village center, adding a marina on Lake Cascade and future plans that would include a gondola, finishing the long-dormant mountain lodge and adding additional ski terrain.
