December 4, 2012

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CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

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Entrepreneurial Group Buys Powder Mountain

Di Lewis

December 4, 2012

“It’s an exercise in conscientious capitalism. We can create a business that has a return on community versus a return on investment,” Rosenthal said. “What’s most import to us and our friends—because we are going to own homes here and live here and spend our time here and raise our kids here—what’s most important is that we create a place we are happy with.”

The housing and village will be on the backside of the mountain to minimize impact, Bisnow said.

Rosenthal said investors are going to be emotionally invested too, because they will be living there, at least part time. While they understand return on investment is important, the priority is return on community. “It’s incentivized us in the right way to build a place that we’ll all be happy with in the future.”

Now they are getting to the long-term work of building the community they want. The Summit Series for this year is still up in the air. In the meantime, they’re working on building the village, hosting smaller events and focusing on Powder Mountain.

Bisnow said they will continue to do the other things Summit is involved in like venture capital, community gatherings and nonprofit work.

The three men were barely able to contain their enthusiasm for the future of Summit and Powder Mountain. They know the millions of dollars and intellectual capital it can bring to the area.

“That’s the ‘aha moment,’” Rosenthal said. “What can we do in a permanent place, instead of spreading that energy around? If we just focus it on the same place, what’s it going to look like in 20 years? It will be incredible.”

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