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CHEVY CHASE, Md., Nov. 21 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. and Cypress Equities of Dallas, Texas have reached an agreement to operate and develop luxury, whole-ownership residences at Mammoth Mountain on a 6.9 acre site in one of California's premiere ski and outdoor recreation areas on the eastern slopes of the Sierra Mountains. The Ritz-Carlton Residences at Mammoth are scheduled to open for the 2010 ski season and will be located adjacent to The Village gondola with quick access to shopping and dining. Its owners will enjoy an unparalleled setting in the heart of Mammoth with spectacular mountain views and superior services and amenities.

In addition to selecting from a range of signature Ritz-Carlton provided services and amenities, including housekeeping, catering, room service, and concierge services, The Ritz-Carlton Residences at Mammoth owners will enjoy a lavish spa and fitness center, swimming pool, several cozy fire pits, gourmet and express restaurants, ski valet services, and more. "We believe these luxury residences will offer the finest lifestyle choice available in the Western United States. Whether a winter ski retreat or a summer getaway, Mammoth Mountain is the perfect location," said Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company. "Partnering with Roger Staubach and Cypress Equities, we look forward to creating the most exclusive residential community in the region," Cooper added.

Mammoth, once a small mining town with over fifty years of operation, has always been a well known year-round retreat with exceptional skiing. However, it is only within the past decade that it has begun to undergo a transformation into a resort and vacation destination known for its Village charm with restaurants, shopping, and social life.

The Ritz-Carlton Residences at Mammoth will offer its privileged owners world-class finishes, services and amenities amounting to the finest living in Mammoth Lakes. Prices start at $2 million. For information, please call 888-310-8383 or visit www.theresidencesmammoth.com/.

About Cypress Hotels & Resorts and Cypress Equities

Cypress Hotels & Resorts is an affiliate of Cypress Equities focusing on development services for lodging investments. Cypress Equities is a development affiliate of The Staubach Company formed in 1995.

With seven development offices in Dallas, Atlanta, New York, Phoenix, San Francisco, Fort Lauderdale and Nassau, Bahamas, it is an independent company with a dedicated staff that focuses on portfolio acquisitions, build-to-suits, project development, sale-leasebacks and other development services for retail and automotive. Currently, Cypress Equities is developing over $3 billion in projects across the country.

The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, Md operates 68 hotels in the Americas, Europe, Asia, the Middle East and Africa. Over 30 projects are under development around the globe with future openings including Sanya, China; Beijing; and Denver. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldridge National Quality Award, which recognized outstanding customer service.

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For more information on The Ritz Carlton - Mammoth Lakes, CALL Coldwell Banker Mammoth Real Estate at 1-800-266-6966 or EMAIL us at Stacie@OwnMammoth.com.

November 2007 - Proposed Air Service

                                                                                          


Horizon Air proposed to conduct scheduled service from Los Angeles International Airport (LAX) to Mammoth Yosemite Airport (MMH) using their Bombardier DHC 8-402 (Q400 Dash  aircraft. The Q400 Dash 8 is part of the Bombardier Dash 8 family of turbo-propeller driven passenger aircraft. The Q400 Dash 8 can seat up to 76 passenger aircraft. The Horizon Air has provided the Federal Aviation Administration (FAA) with a letter of intent to initiate winter ski season passenger service into MMH.

Horizon Air is proposing to begin scheduled regional air carrier service to MMH beginning in December 2008 with two flights per day from LAX during the winter ski season (approximately December to April). The Town of Mammoth Lakes has prepared and the FAA has approved a forecast of future commercial aviation activity at MMH. Winter ski service is projected to increase to a maximum of eight flights per day by the year 2011. Summer service is projected to begin in 2012, with 2 flights per day to LAX for 8 weeks in July and August.



The approved aviation forecasts predict that the number of flights per day would increase from two to eight as additional regional markets such as Las Vegas, Northern California, San Diego, or an alternative Southern California market are added. The Mammoth Mountain Ski Resort would subsidize the winter ski air service. The projected summer air service would not be subsidized.

Scheduled daytime commercial air service would start with one morning and one afternoon flight. No aircraft would be scheduled to remain at the airport overnight. The proposed air service would utilize the existing MMH runway and taxiway system.

Construction of new airport facilities are not proposed. Winter service is not expected to exceed eight flights per day due to airport facility physical constraints (e.g. aircraft apron space and terminal capacity).

Proposed FAA Action

Approval of the proposed amendment to operations specifications for Horizon Air to permit scheduled commercial air service to MMH using the Brombardier Q400 Dash 8 aircraft pursuant to 14 Code of Federal Regulations (CFR) Part 119.

The establishment of scheduled commercial air service into MMH also necessitates a change in the MMH Operating Certificate from Class IV to Class I, pursuant to 14 CFR Part 139. Airports with a Class 1 certificate may accommodate scheduled service by aircraft capable of carrying 30 or more passengers, while airports with a Class IV certificate may accommodate unscheduled service by aircraft of similar size.

Draft Environmental Impact Statement Release

The FAA has prepared a Draft EIS to assess the potential environmental impacts of the Horizon Air's proposed air service The Draft EIS was released for agency and public review and comment on November 16, 2007. The official public review period is from November 23, 2007 to January 11, 2008.

Using guidance within FAA Order 1050.1E, potential impacts to these environmental resources were evaluated within the Draft EIS:

* Air Quality * Historic, Architechtural, Archaeological and Cultural Resources
* Compatible Land Use * Natural Resources and Energy
* Department of Transportation Section 4(f) * Noise
* Fish, Wildlife, and Plants * Secondary (Induced) Impacts
* Hazardous Materials and Solid Waste * Socioeconomic, Environmental Justice, Children's Health
* Water Quality

Copies of the Draft EIS will be available at the following public locations:



Closure of the Public Review process on the Draft EIS is January 11, 2008. To be considered comments concerning the Draft EIS must be received by the FAA no later than close of business on January 11, 2008.

Comments on the adequacy of the Draft EIS are to be submitted to Federal Aviation Administration, Mr. Chuck Cox of the Federal Aviation Administration at the address or facsimile number provided on the next page. Written comments concerning the Draft EIS can be provided to the FAA at the Public Workshops and the Public Hearing. An opportunity to provide verbal comments concerning the Draft EIS will be provided at the Public Hearing.

Public Workshops and Public Hearing

A Public Workshop regarding the Horizon Air's proposed air service Draft EIS will be held on December 18, 2007 from 4:00 - 8:00 PM at the Town of Mammoth Lakes Council Chambers.

Town of Mammoth Lakes Council Chambers
437 Old Mammoth Road, Suite R
(Minaret Shopping Center)
Mammoth Lakes, California 93546

A second Public Workshop and a Public Hearing will be held on January 8, 2008 from 2:00 - 7:00 PM at the Town of Mammoth Lakes Council Chambers. The Public Workshop will be held from 2:00 - 3:30 PM. The Public Hearing will be held from 4:00 - 7:00 PM.

The closure of the Public Review process on the Draft EIS is January 11, 2008. To be considered comments concerning the Draft EIS must be received by the FAA no later than close of business on January 11, 2008.

Future Actions

Following receipt of agency and public comments on the DEIS, the FAA will prepare and publish a Final EIS.

Following the opportunity for agency and public comment on the FEIS, FAA will prepare a Record of Decision documenting its decision on the request for Horizon Air's request to amend its Operations Specifications to permit the proposed scheduled air service into MMH.

EIS Process

The following graphic illustrates where the FAA is in the overall Mammoth Yosemite Airport EIS process:



FOR A COPY OF THE ENTIRE ENVIRONMENTAL IMPACT SURVEY, EMAIL COLDWELL BANKER MAMMOTH REAL ESTATE.

The new 16,067 square foot library located across the street from the high school at the corner of Meridian Blvd. and Sierra Park Road will officially open at 10:00 a.m. on Monday, December 17, 2007. The new library will be about four times larger than the current facility, and will be jointly used by Cerro Coso Community College. As a result, the existing library located on Forest Trail will be closed from December 2 to 16 for the move. The new library will be open Monday through Friday from 10:00 a.m. to 7:00 p.m. and Saturdays from 9:00 a.m. till 5:30 p.m. The Grand Opening for the new library has been scheduled for Sunday, January 20, 2008. For more information, please contact the library at (760) 934-4777.

In addition to on mountain improvements, Starwood and Mammoth Mountain Ski Area (MMSA) is continuing real estate development in Mammoth according to Craig Knight, representative of Starwood.

For clarification, Starwood is developing it’s own sales strategy and has formally separated from Intrawest and Playground.  Future real estate development from MMSA will not involve Intrawest or Playground.

There are three new projects on the forefront:

      Altis:  Townhomes, 24 units at the original location will break ground this week but it will now be whole ownership.  Reservations will be taken fairly quickly.  The project will look similar as originally proposed but the amenity building will be smaller.  This project will be high end, ski in/out with an abundance of windows to take advantage of the amazing views.

      Canyon Project:  Townhomes, 19 units across the street from Canyon Lodge and 1849 Condos.  Currently in the design stage, plans call for a completely different look for 3 and 4 bedroom units, smaller in size.  The square footages will range from 2250 to 2600.  These will be extremely high-end units with equally high-end finishings.

      Eagle Lodge:  Condo-Hotel, 68 units at the base of Eagle Lodge to include a base lodge facility, commercial space, a locker club and two levels of underground parking.  They will be available in 1, 2, 3 and 4 bedrooms and will utilize lock-offs to maximize usage.

The latest on Hotel “1” is a Fall 2008 launch.  The project is being redesigned and possibly relocated to a more suitable site.  If you recall, this is the first proposed LEED Certified project which is to limit impact on the natural surroundings and be energy efficient.  The intention is to have a one to three person marketing team coupled with an outreach to the broker community.

For more information on this or any other issues related to Mammoth Real Estate, please contact us at Info@MammothRealEstate.com .

At the General Membership meeting of the Mammoth Lakes Board of Realtors this past Tuesday, October 30, Mammoth Mountain Ski Area representative, Tom Hodges, was kind enough to bring us information on what the mountain is working on.

In 2007, we saw the opening of Top of the Sierra Interpretive Center and Café located at the top of the Main Lodge Gondola.  Additionally, Chair 9 has been converted to a high-speed six pack lift and has been named “Cloud 9 Express”.  Load testing is being completed now and will open this season.  A new terrain park, Wonderland Park, has been built at Chair 7 and the Canyon half-pipe has been relocated to this park to minimize impact to all snowboarders and skiers at Canyon Lodge.

Projections for 2008 and beyond include the Ski Back Trail from Main Lodge to The Village.  This project is now open for public comment with the USFS (United States Forest Service) and all comments, including positive ones, are encouraged.  It is expected that this ski back trail will alleviate the traffic congestion from Main Lodge to The Village when the mountain closes at the end of each day.  Chair 5 is going to be converted to a high-speed quad lift.  A new 3 bedroom cabin is being built at Tamarack Lodge and will be the first LEED certified building in Mono County.  LEED certification has to do with environmentally sound building specifications to minimize impact on the site.  Also in the works is a new dining venue at McCoy Station and will be the evolution of Parallax restaurant.

Further out to 2009 is Eagle Lodge.  This is the 50,000 sqft base lodge, 30,000 sqft of commercial space and 68 condo-hotel units in 1, 2, 3 & 4 bedroom sizes with lock-off configurations to maximize usage.  This project will also include 2 levels of underground parking amounting to 500 spaces.  There will be a fee for this parking.  It is possible that the project may start in 2008 with an expected open in the season of 2010.  Construction will take approximately 2 years but plans include only disrupting one ski season where there will be no parking and excessive construction.

For more information on this or any other issues related to Mammoth Real Estate, please contact us at Info@MammothRealEstate.com .

On Thursday, October 18, Rusty Gregory, CEO of Mammoth Mountain Ski Area in Mammoth Lakes California, joined the Coldwell Banker Mammoth office's weekly sales meeting to share his thoughts and expectations of growth and development.

Rusty stated that he is "...more optimistic now that I have been in the last four years."  There is a greater sense of cooperation with the Town of Mammoth.  The difficulty of getting projects approved is the cause for recent meetings between the Town and developers.  This has already led to reduced development impact fees (DIF) and the completion of the General Plan Update.  Mammoth is well-known among capital markets for being one of the worst areas in the country to develop because of the difficulty in getting projects approved.  This seems to be changing for the better.

A new concept in Mammoth is District Planning.  Rather than applying the exact same guidelines for all areas of town, District Planning incorporates the characteristics of each area of town with guidelines that are appropriate for the area.  This will knit the smaller areas of town together.

Redevelopment of Main Street is a very aggressive tactic in redesigning the main thoroughfare of Town.  This would include the narrowing of Main Street to 1 lane in each direction with a median and several turnouts.  This will eliminate frontage roads and provide businesses with street frontage property to expand and redevelop buildings.

Mammoth Mountain Ski Area put money into the project to build the local ice rink as a community investment.  The joint branding effort between Mammoth Mountain and the Town of Mammoth Lakes give the message “Come as you are…Do what you love”.

Gregory says that work continues on improving the guest experience including a joint venture with Patina Food Group, the largest caterer in Southern California, to provide food service of all levels at Mammoth Mountain.  They will use a combination of local workers and their current staff from Southern California.  Great service and great food is the goal over the next year.

Plans are underway for a 500 seat restaurant/lodge facility at the top of the Goldrush lift station.  That is probably about two years out.  And in the next four years, more of a focus will be put on group sales and events.

The two current major projects are Altis and Eagle Lodge.

The Eagle Lodge base facility project has little going on right now.  The deal to use the Ritz Carlton brand for the Sierra Star project and the Eagle base lodge was thrown off track due to the recent purchase of the hillside property by Cypress Equities.  Cypress already had a letter of intent from Ritz Carlton for the hillside property and Ritz will not offer their flag to two separate developers in the same area.  Alternatives being investigated are the Four Seasons and St. Regis as well as some other big brands.

Hotel “1” is now being considered for a different location rather than the parking lot area across Minaret from The Village.  They are still defining the brand platform, but they do not feel that The Village is the right setting for this brand.

Altis is back!  But under a different model.  There will be 4 very large duplex units (about 3000 sqft) in 2 buildings and they will be ski-in/ski-out at the same location just off the ski run along Eagle Express.

With much rumor about Barry Sternlict’s intentions for Mammoth going around, Gregory explained that there is about a 5-7 year life for Mammoth in Sternlict’s business.  So although there are no exit plans currently, Sternlict is not expected to be in Mammoth for the long haul.  Barry’s current focus is on partnerships in the area where the Olympics are to be held, Russia.

Looking further down the road, Rusty says that there is a lot going on.  The Main Lodge land trade for 22 acres in the Mono Basin would allow for the current Main Lodge to be torn down and the area redeveloped with 1000 rooms in three to five properties.  Estimated time is 2 years to complete the land trade and five years before the first project opens.

Another ‘hallucination’, as Rusty puts it, he has in mind for the future is to build a Hollywood Bowl type facility at Canyon Lodge with a removable stage and four-story parking structure.  This would be further out in time from the Main Lodge land trade.

The Ski Back Trail from Main Lodge to The Village is getting closer.  The public comment period is open and Rusty encourages all to submit a written comment in support of the ski back trail.  It is an easy ride from Chair 4 to The Village at the end of the day versus the long lines at Main Lodge to get on the shuttle at the end of the day.  This will free up transportation and traffic impacts from Main Lodge to The Village.

And last but not least, what is going on at June Mountain?  Rusty says the Village of June Lake has been more accepting of expanded commercial business and lodging after last season’s horrible economic impact on local business.  The community has approved 1000 beds for development at or near the ski resort which will allow for more available lodging.  Barring another bad snow season, June Mountain will open and operate as usual.

The snow is falling today in Mammoth Lakes California.  It started shortly before this posting and ranges from a mist to full flakes with periodic sunshine breaking through in passing clouds.  The National Weather Service reports rain and snow showers with isolated isolated thunderstorms today in Mammoth. Snow level 7500 feet. Snow accumulation up to 3 inches. Highs 47 to 57. South winds 10 to 15 mph.

At Mammoth Mountain Ski Area, snow coverage begins - Click HERE to see conditions at MAIN LODGE