It looks like the proposed Ritz-Carlton Hotel in Mammoth, once known as the Hillside project, will remain a hillside for a while longer. After years of work, an appeal by the Advocates for Mammoth, and a sale from the 8050 group to Cypress Equities, the hope was to start the earthwork on the hotel condo project this summer.
In June, the start date was pushed back until 2009, now the sales office has been closed and the project has been put off indefinitely. Money trouble in tough economic times seems to have moved this project to the back burner. Nicole Brooks with the Cypress sales office explained that the groundbreaking was put off due to the current conditions in the capital markets.
Brooks explained that the buyers who had reserved units have had their deposits fully refunded. She said that she was unsure when the project would move forward.
No project means no Developer Impact Fees for the Town. Town Manager Rob Clark said that the company had indicated they might start in 2010. After getting through the Mammoth Planning Commission and the appeal by the Advocates, Clark explained that the company can file extensions on the use permit to account for the delays.