RockResorts, JMA Ventures set Northstar development, sales deal
RockResorts, a subsidiary of Vail Resorts of Broomfield, Colo., last week signed a management agreement with JMA Ventures for the Constellation Residences at Northstar. The boutique residences are located mid-mountain at Northstar California Resort. RockResorts will offer vacation rentals and full ownership opportunities at the residences.
Additionally, JMA Ventures says it plans to develop an additional 50 new mid-mountain residences at the resort over the next three years. JMA says the homes will be a mix of two-, three- and four-bedroom residences with large interior and outdoor living spaces, open floor plans and entryway mudrooms.
“This agreement marks both parties’ shared confidence in the Lake Tahoe market as well as our commitment to the community,” said Todd Chapman, chief executive officer of JMA Ventures. “With Vail Resorts by our side, this final phase of development will realize the full vision of the Constellation community.”
JMA Ventures sold Northstar-at-Tahoe ski resort to Vail Resorts in October of 2010.
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