TORONTO — Skyline International Development Inc. has made a $20-million acquisition of Blue Mountain properties that will include an option to expand the iconic resort village.
“This agreement reinforces our vision to be the leader in the Canadian destination-community industry,” said Gil Blutrich, Skyline chairman and president. “With this acquisition, Skyline will become the largest owner of resort and destination communities in Ontario.… By adding Blue Mountain Village resort lands, it allows us to expand services for the members of our prestigious SkyLife Club with a new club lounge for our members in the centre of the Village with access to Blue Mountain’s wealth of amenities.”
Under the deal, Skyline will manage the Village’s retail space — which will be 50-per-cent owned by Intrawest ULC — and build an additional 20,000 square feet of retail properties. The company acquired undeveloped residential land interests in and adjacent to the Blue Mountain Village at the base of Blue Mountain Resort and is planning to double the Village’s current residential and condo-hotel footprint.