Tuesday, February 26, 2008

It seemed like a good idea at the time, eh André?

Credit crunch reaches picturesque resort

The effects of the worldwide credit crunch reached a remote part of Idaho this month. Four-year-old Tamarack Resort said construction of its ski village near McCall, Idaho, has ground to a halt after Société Générale pulled the plug on a $118 million loan Tamarack needed to finish the complex of shops and condominiums. Tamarack is the biggest new public ski-and-golf resort built in the United States since Deer Valley, Utah, opened in 1981. Andre Agassi and Steffi Graf, the tennis champions who are husband and wife, gave the resort a lift when they agreed in 2006 to build a Fairmont hotel there.

Posted by lvmreader @ 08:19 PM (615 views)
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