Foster family buys two sites near ski resort
Family of former state legislator and skiing enthusiast Bill Foster plan to write another chapter in the history of Powderhorn as the new owners of two development sites near the ski resort.
The late Foster, namesake of “Bill’s Run” at Powderhorn, helped start the ski resort. His son Michael Foster paid a total of $85,000 for a couple of development sites near the resort at an auction Thursday of Powderhorn, the Inn at Wildewood and nearby land.
Michael Foster said his name is on the contract, but he will co-own the land with a group of partners.
“It’s all family,” he said.
Michael Foster, whose brother Tim is president of Mesa State College, said he isn’t quite sure what the family will do with the land. A brochure for the auction says, “Designated use of the sites include multifamily and/or general infrastructure for the ski resort.”
“We don’t have any major plans. We just like that area,” Foster said.
The development sites were auctioned in addition to 12 single-family lots in Wildewood Subdivision that sold for a combined $235,950 and a condominium development site that sold for $55,000.
A group of local investors led by local auctioneer Steve Hunt bought the inn for $247,000, and Andy Daly of Vail and his silent partners, Gart Bros. (now Sports Authority) store founders Tom and Ken Gart, bought Powderhorn and a 700-acre development site for $1.4 million.
“They seem like they’ve been around the block a few times. We think they’re a great outfit,” Michael Foster said of Daly and the Garts.
Mesa County Commissioner Craig Meis, who also attended Thursday’s auction, said he met with several Powderhorn employees after the auction.
“They are all excited” about the new ownership, Meis said.
Meis said he did not purchase anything at the auction, although he was tempted by low prices.
Familiar local faces in the crowd Thursday included fellow non-bidders Jamie Hamilton, president and chief executive officer of Home Loan, and former congressman and gubernatorial candidate Scott McInnis.