Doubt there will be a whole lot of housing on the Tog hill.
More likely use for the land is some type of agriculture.
Mini-farms maybe as some folks are into that.
Toggenburg Mountain Sold
- Thread starter Campgottagopee
- Start date
More likely use for the land is some type of agriculture.
Mini-farms maybe as some folks are into that.
Harvey
Administrator
- Joined
- Jul 15, 2020
Do you own any funds? Do you vet each company owned and pull out if they buy the wrong one?
In a perfect world I'd do that, but it's a lot of work and might not even give the desired result. I'm sure there are evil companies that will never be exposed.
Buying individual stocks for retirement takes a lot of due diligence. It's got more upside and downside, aka risk.
Tax Map
Property history.
Looks to have at least 3 different parcels associated with the ski hill.
Property history.
Looks to have at least 3 different parcels associated with the ski hill.
Ripitz
Well-known member
- Joined
- Dec 23, 2020
I have no money in the market but I am interested in ESG funds
MarzNC
Well-known member
- Joined
- Jul 18, 2020
Recently finished reading about the Lost Ski Areas of the Berkshires. The original owner/developer of Brodie decided quite a while ago to focus on golf instead of skiing. Sold the slopes to the competitor down the road, Jiminy Peak. When the owners of Jiminy Peak could see that it didn't make financial sense to upgrade nearby Brodie, they sold the land in 2004 with a legal agreement that the new owner couldn't run it as a public ski hill. There just wasn't the market to sustain two ski operations.
I saw the Brodie trails from Mt. Greylock State Park in June. It takes more than having good terrain to have a sustainable business when 100% snowmaking is required.
Brodie Mountain Ski Area History - Massachusetts - NewEnglandSkiHistory.com
www.newenglandskihistory.com
Harvey
Administrator
- Joined
- Jul 15, 2020
"At this time, it makes sense for Intermountain to carry on the mantle. We appreciate Harris's interest in Toggenburg and wish the best to him and the Toggenburg community."
This statement walks a fine line, as it implies that business will be as usual at Toggenburg. The Meier's knew darn well that Harris was going to close Togg, otherwise, they wouldn't have sold it to him and risk Harris offering a 3-ski area season pass.
What perplexed me is that I didn't think Harris had the financial resources to pull this off. After all, it's not as if Lab and Song have state-of-the-art facilities, although Heuga's looks like a nice new addition. Of course, if Harris only paid $750K for Togg, and is able to recoup some of that money through piecemeal sales of Togg's assets, as well as attracting former Togg skiers to Ski CNY, then the $750K may be insignificant.
I do think it's not going to generate much goodwill with the community that he added the covenant to the sale. If he doesn't feel that Togg is a viable operation, he shouldn't worry about a new owner operating a ski area.
This statement walks a fine line, as it implies that business will be as usual at Toggenburg. The Meier's knew darn well that Harris was going to close Togg, otherwise, they wouldn't have sold it to him and risk Harris offering a 3-ski area season pass.
What perplexed me is that I didn't think Harris had the financial resources to pull this off. After all, it's not as if Lab and Song have state-of-the-art facilities, although Heuga's looks like a nice new addition. Of course, if Harris only paid $750K for Togg, and is able to recoup some of that money through piecemeal sales of Togg's assets, as well as attracting former Togg skiers to Ski CNY, then the $750K may be insignificant.
I do think it's not going to generate much goodwill with the community that he added the covenant to the sale. If he doesn't feel that Togg is a viable operation, he shouldn't worry about a new owner operating a ski area.
Campgottagopee
Well-known member
- Joined
- Jul 20, 2020
I'm hearing people saying had they known the price was $750K (if it really was) they could've/would've raised more $ than that and keep it open. I 100% guarantee you Peter would sell, for the right price, to anyone for any use.
The world belongs to asker's. Put your money up and make the man an offer.
The world belongs to asker's. Put your money up and make the man an offer.
That would have been nice to allow the locals to form a coop. As you said, Peter may have a change of heart for the right price. He still needs to pay taxes on Togg, as long as it sits vacant and not generating any money. That gets old after awhile. I can’t imagine that a vacant ski area is prime real estate in Fabius, NY. Plus, there’s quite a bit involved in deconstructing a ski area.
