Industry News
Olympic Valley, known for producing some of the world’s top athletes and home to the 1960 Winter Olympics, now faces a critical turning point. As rising housing costs push out local workers and the threat of commercial overdevelopment looms, a new initiative—Project Olympic—aims to protect the valley’s legacy while creating opportunities for future generations.
Led by the newly formed Olympic Valley Foundation, Project Olympic is more than just a development. It’s a community-driven vision that blends sustainable housing, athletic innovation, education, and local business support—all rooted in the valley’s Olympic history and the pioneering spirit of the Poulsen family.
“This is our chance to build something in line with our community values, backed by those who love this valley the most,” Adam Fischer said, head U10 Tahoe Race Series coach for Team Palisades Tahoe and a driving force behind the project. “We must invest in our future to ensure opportunities for the next generation while respectfully honoring the beauty and history of the valley.”
The project comes with a rare opportunity: four parcels of land near the base of Palisades Tahoe are under contract. However, the window to secure them is closing fast. Without donor support by year-end, these parcels could be lost to for-profit developers, opening the door to luxury hotels and high-end residences that could alter the fabric of Olympic Valley.
Project Olympic’s plan is comprehensive:
- Deed-restricted workforce housing to address the severe shortage of affordable homes for local workers.
- A high-altitude sports innovation facility and state-of-the-art fitness center, providing elite and aspiring mountain athletes with public access during select hours.
- An educational hub for all ages, including a much-needed daycare center and potentially a permanent home for Creekside Charter, a TK-8 public charter school currently housed in temporary facilities.
- Dedicated commercial space to safeguard existing local businesses such as Olympic Bootworks, Arcade Belts, and the U.S. Post Office, which serves as a vital community service.
- A community knowledge center, akin to Colorado’s Aspen Institute, providing a space for residents and visitors to foster leadership, creativity, and collaboration.
“Inspired by the spirit of the Olympics and the history of this valley, Project Olympic is about building a foundational center of excellence that embodies community, accessibility, and sustainability,” Fischer said.
Travis Ganong, Olympic skier and active community member, echoed the urgency:
“Without thoughtful action, big business could overrun the small businesses and local culture that make Olympic Valley special. Project Olympic is our stand for legacy, community, and the mountain spirit—before it’s too late.”
The Olympic Valley Foundation, modeled after Colorado’s Vail Valley Foundation, will lead the charge. Its core values—community, education, athletics, and innovation—will guide all projects, ensuring sustainable development that benefits residents while preserving the valley’s character.
“We are prioritizing the needs of the local community with reduced density and building heights,” Fischer added. “We’ve also built a model to generate recurring cash flow to support our mission, ensuring that Project Olympic remains a lasting benefit to Olympic Valley.”
The Creekside portion of the project, a TK-8 public charter school, is required by law to evaluate all facility options. “The Creekside Charter Board is proud of our relationship with Palisades Tahoe and will be working with them in concert with Project Olympic to find the best long term facility option for our school,” Fischer wrote.
However, time is running out. The success of Project Olympic depends on grassroots support and collaboration. Without donor contributions to purchase the land, the opportunity to shape the future of Olympic Valley in line with community values could be lost.
“This is not just about development; it’s about creating a legacy for future generations,” Fischer said. “If you believe in this mission, we need you now.”
For more information or to get involved, visit the Project Olympic website.
The Olympic Valley Foundation is also hosting a communal fireside chat on February 22, 2025, at the Plumpjacks conference center at 4 p.m.—details can be found at www.projectolympic.com.
Follow updates and join the conversation on Instagram as well:
• @adamfischer
• @travisganong
• @olympicvalleyfoundation
The artist’s rendition of the size of the peaks in Olympic Valley is hilarious. He or she took significant “artistic freedoms” on that one! This is not the Matterhorn.