After much anticipation, the journey has begun. On April 19, 2004, Northstar-at-Tahoe�s (Northstar) original vision started to become reality, as the resort broke ground on the new Village at Northstar. Featuring luxurious ski-in, ski-out condominiums, stylish boutiques, outdoor restaurants and an ice rink and pedestrian plaza at the heart of it all, the Village at Northstar is guaranteed to be one of the finest mountain villages in North America.

Following an extensive, national search, Northstar named Colorado-based East West Partners as the developer of the Village. East West Partners has a long-standing reputation for reducing the environmental impacts of its projects and has created such notable developments as the base village at Beaver Creek, Colo.

East West Partners and Northstar-at-Tahoe designed a Village concept with more residential and lodging capacity, a variety of establishments such as shops, fine dining and casual restaurants, a book store, brew pub, coffee shop, fitness center, bakery, photo shop, a small convenience market, and even a nightclub. One of the most important elements of the Village is the creation of gathering places where people can come together and enjoy the Village atmosphere. These include outdoor fire pits, outdoor restaurant seating, and a new ice-skating rink at the Village core.

At buildout, the Village will include seven new buildings in all, with 213 new luxury condominium residences, ranging from spacious one to four bedroom residences. The first phase of construction includes three buildings and is slated to be complete by December 2005. Iron Horse North and South include 72 condominiums with commercial space on the ground floor. The Great Bear Lodge includes 28 condominiums, shops, restaurants, and an ice skating rink.

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In order to achieve this ambitious timeline, construction will take place throughout the summer season. Northstar has taken every step to minimize the disruption to residents and visitors throughout the construction period. For that reason, there is no better time to come up and check out the summer activities that Northstar has to offer. Northstar-at-Tahoe will still offer lodging in its existing condominiums throughout the summer, located far from the construction zone.

This is the last opportunity for guests to experience Northstar before its evolution into a destination resort that is truly one-of-a-kind. The future of Northstar is upon us and the excitement is contagious. For more information on Northstar�s Village, log onto www.NorthstarAtTahoe.com or call 1-800-GO-NORTH.

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Nicole Klay Communications Coordinator Northstar-at-Tahoe and Sierra-at-Tahoe office: 530.550.2618 fax: 530.550.9455 nklay@boothcreek.com