SACRAMENTO, Calif. - A Las Vegas development company has reportedly agreed to buy Donner Ski Ranch for nearly $10 million, and could turn the venerable Sierra resort into an Alpine-style ski village.
The Sacramento Bee said the deal with Arizona Acreage LLC would allow Donner to continue operating as a ski area, but could add shops and restaurants to the 54-year-old resort and scatter homes along ski slopes.
But the deal won't close escrow until Arizona Acreage gets the zoning and other regulatory approvals it needs to move ahead with its plans.
The potential project is further evidence of high-end development that's taking hold in the Tahoe area.
Homes in nearby Sugar Bowl have recently sold for more than $1 million, golf course lots near Truckee are being listed for $800,000, and the median home price in the North Tahoe area has soared nearly 50 percent since 1998.
Officials at Arizona Acreage declined to discuss specifics of their plans for Donner Ski Ranch, saying they wanted to first consult with Nevada County planners and other regulators.
The 460-acre resort went on the market this fall when Norm Sayler, the president and majority owner, decided he could no longer subsidize Donner with revenue from his earth-moving business.
