WHISTLER, B.C. — The Whistler Blackcomb mountain resort is planning a renaissance over the next few years that would include real estate developments in the later phases and a price tag of about $345 million.
The first phase of the Renaissance project would cost up to $100 million and include a year-round indoor water-based play area at Blackcomb's upper base.
The resort would also get a new high-speed lift to connect Blackcomb's upper and lower bases.
The project's second and third phases would include real estate developments that may involve a development partner once rezoning is approved.
Phase 2 would cost $105 million to $115 million and include the construction and sale of about 60 townhomes and Phase 3 would cost an estimated $140 million to $150 million and include further real estate development.
Whistler Blackcomb Holdings Inc. (TSX:WB) says the project requires approvals from municipal and provincial governments and successful negotiations with the Squamish and Lil'wat First Nations.
"Whistler is in the Squamish and Lil'wat First Nations traditional territories and we want to partner with these important stakeholders to benefit our shareholders and our communities," said Dave Brownlie, president and CEO of Whistler Blackcomb, which owns 75 per cent of the resort.
Brownlie described the Renaissance project as the "most progressive investment in our history" and said it would insulate the resort from variable weather by strengthening its non-skiing activities.
