Image: Supplied by Pixabay / The proposed Cascade Skyline Gondola Project east of Chilliwack is moving forward after a $29 million financing package was approved.

By Mike Vanden Bosch

Cascade Gondola

Cascade Skyline Gondola Project east of Chilliwack moves forward with $29 million financing package from Austria-based Doppelmayr

Jul 14, 2022 | 6:56 AM

CHILLIWACK — The board of directors of Doppelmayr, an Austria-based manufacturer of cable cars, has approved a finance package exceeding $29 million towards the construction of the Cascade Skyline Gondola Project (CSGP) east of Chilliwack.

The funding announcement represents more than $60 million out of the $80 million-plus capital expenditure, or approximately 75 per cent of the project’s total expected cost. CSGP received proposed detailed finance terms from Doppelmayr this week. The package and its financial details will be finalized within the next 60-90 days. At this juncture, the gondola project is more than adequately financed.

“We have been working with the Cascade Skyline Gondola proponents for some time and are very enthusiastic about the potential of this project that we have offered financing terms to the proponents,” said Brent Carmichael, general manager of Doppelmayr Canada. “This is one of the only handful of projects in North America that we have done that…is a testament to our belief that this project is of significant value to the community and has long-term sustainability and viability.”

Gondola supporters, including local First Nations leaders and local elected officials, have overwhelmingly backed the project.

“Doppelmayr and Funis Fund partners were here visiting Chilliwack in February as part of their due diligence on the project,” said Jayson Faulkner, president of Cascade Skyline Gondola Project. “They met with Cheam Nation Chief Andrew Victor, Skowkale Nation Chief Mark Point, Skwah Nation Councillor Eddie Gardener, Chilliwack Mayor Ken Popove, Agassiz Mayor Sylvia Pranger and many other stakeholders and supporters in Chilliwack. What they heard was a resounding message of support for the project that allowed them to take this next very important step. We’re thrilled expressions of support and investor interest have also been received from many other stakeholders, and among the First Nations — Skwah, Kwa Kwa Apilt, and other stakeholder First Nations.”

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The CSGP is a Pelólxw-led project and one of only five projects around the world, including the only one in North America, to receive this vote of confidence from Doppelmayr, recognizing the unique opportunity that this eco-tourism and cultural tourism project means for the broader community and First Nations partners.

The project envisions a sightseeing gondola that will provide an elevation view of over 1,200 metres above the Fraser Valley with breathtaking views of the Coast Mountains, Cascade Mountains, Fraser River, Harrison Lake, and Vancouver. Non-motorized activities consist of walking, hiking, snowshoeing, backcountry skiing, paragliding, mountain biking and viewing platforms.

The Xwchíyò:m Cheam First Nation (CFN) has been the founding First Nation of the Cascade Skyline Gondola Project since the project’s infrastructure is located within their territory.

Project inception began in 2016 and was first marketed as the Bridal Falls Gondola Project before being re-named. The gondola base will be located at the current Bridal Falls Golf Course, while the summit terminal is six kilometres west from Mount Cheam along the west ridge between Mount Archibald and Codeine Ridge.

by Mike Vanden Bosch

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Cascade Skyline Gondola Project east of Chilliwack moves forward with $29 million financing package from Austria-based Doppelmayr

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