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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Indoor Snowboarding Park Stumbles on Road to Reality

March 30, 2000|E. Scott Reckard.

A company hoping to build a 173-foot-high indoor snowboarding park on the Edison International Field parking lot has raised the project's price tag to $130 million--3 1/2 times the original amount.

Glacier of Anaheim LLC put Gotcha Glacier's cost at $40 million when plans were disclosed more than two years ago by apparel entrepreneur Marvin Winkler, a partner in the deal. Later cost estimates rose to $50 million, $65 million, $75 million and $105 million. The latest completion date, spring 2002, is more than a year past the original target.

Glacier of Anaheim has city approval but as yet no financing for the project. The financing costs will be in addition to the $130 million, Glacier chief executive Brad Kinney said Wednesday.

Backers said the structure evolved into something far more complex than first envisioned as they polished their plans. Kinney said one big cost increase--$10 million--came from the recently announced addition of space for two large retailers attached to the main building.

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