June Lake Rodeo Grounds parcel sells for $2 million

According to Dan Scidmore of DAUM Commercial, the brokerage team retained by Intrawest to sell the property, the June Lake Rodeo Grounds parcel has sold. Escrow closed on July 31 with a purchase price of $2 million. It was an all cash deal. The buyer was Edward P. Roski, Jr.

On Thursday, Aug. 1, Mono County Supervisor Tim Alpers also confirmed that the transaction had been completed and that Roski now owned the property.

When asked if he knew what Roski planned to do with the parcel, Alpers said he had no clue but had been told, “Whatever works best for the community, the county and the stakeholders is what they’re interested in.”

The Roski family owns and operates Majestic Realty Co., one of the oldest and the largest privately held real estate companies in the United States. Currently at the helm of the company is Edward P. Roski, Jr., President and Chairman of the Board. The Roskis have also been second homeowners in June Lake for several generations.

The just under 87-acre Rodeo Grounds property is considered by many to be a key piece of property in June Lake. According to loopnet.com, “The June Lake Rodeo Grounds represent a unique development opportunity at the base of June Mountain Ski Area (JMSA). This property is located within the June Lake Rodeo Grounds Specific Plan, and is the largest available land parcel in the Mammoth Lakes/June Lake area. The Seller [Intrawest] had previously worked on a general plan amendment that would have led the way to a ‘Village type’ development consisting of almost 400K square feet of new residential space, almost 25K of new commercial space, and a direct access to JMSA via a gondola.”