A Quick Little Promontory Update

Promontory update:
There is no real news to speak of on the Promontory hearings, as the judge said that she should have a decision on July 3. Supposedly Credit Suisse, the first lien holder, does not want Pivotal, the current developer, to continue developing or operating the club. Hopefully, we will know more on the 3rd of July…..it could be a happy 4th depending on the decision!

Look for the market update tomorrow and a Empire Pass YTD summary.

Promontory and Glenwild Updates

PROMONTORY:
-Not too much to report on the Promontory bankruptcy situation. There is another hearing scheduled in court for the end of June. The lien-holders and Pivotal are trying to work out a plan to move forward. Last that we heard Pivotal and the 2nd lien holder had teamed up, and Credit Suisse was putting together their own plan. However, this could change a the drop of a hat…so we’ll look to find out more towards the end of June on how Promontory will move forward. The club is still operating and is supposedly going to start construction on the Forest Richardson course this summer…..we’ll see though.

GLENWILD:
-Glenwild is one of the hottest communities in Park City right know. However, that is if you are looking to buy a home. The land sales out there are not doing particularly well and there are some buyers that want OUT! If you are considering parking some money away in Real Estate or are looking to get into Glenwild at bottom level prices there are some deals to be had. Please contact me and I will email these to you (robalday@yahoo.com )….are numerous opportunities to be had.

MARKET UPDATE: -coming soon