Nederland, CO Approves Historic Purchase of Eldora

The landscape of Colorado skiing just shifted in a big way. In a vote this week, the Nederland Board of Trustees approved a $120 million purchase to acquire Eldora Mountain Resort. This move places the beloved "Front Range backyard" into the hands of the roughly 1,500 residents who live at the base of the mountain.

Nederland Town Administrator Jonathan Cain famously described the effort as a "minnow swallowing a whale." While the price tag is steep, the town is utilizing a savvy financial structure. The purchase is being funded through municipal revenue bonds, which are repaid solely by the resort’s earnings—think lift tickets, rentals, and those lodge nachos. Most importantly for locals, this means no tax dollars are on the line. If the mountain thrives, the community thrives.

For those worried about their passes, don't pack up your gear just yet. Eldora is set to remain on the Ikon Pass for the foreseeable future, ensuring that the revenue stream stays stable during the transition. POWDR will continue to assist with operations for the next two seasons to ensure a smooth handoff, after which the town plans to partner with 303 Ski, a group of Colorado industry veterans, to keep the lifts spinning.

This acquisition isn't just about the white gold. Nederland’s vision includes transforming Eldora into a year-round destination. Plans are already circulating for expanded summer programming, including potential mountain bike park developments and hiking access. By annexing the mountain, the town gains control over land use, allowing them to prioritize local needs like workforce housing and childcare for the 700 employees who will now become municipal staff.

At TGR, we’ve always believed that the heart of skiing lives in the communities that surround these peaks. Seeing a town take such a bold step to preserve its heritage is exactly the kind of energy the industry needs. It’s a reminder that while the big corporate players have their place, nothing beats a mountain that "marches to the beat of its own drummer."