BOULDER, Colo., Feb. 27, 2020 /PRNewswire/ -- Meriwether Companies, a private real estate investment and development firm, and Big Sky Wave Developments, founded and directed by Michael B. Schwab, announce plans for Coral Mountain, a masterplan resort community in the Coachella Valley. Coral Mountain will be the first of its kind and will include world-renowned wave technology from Kelly Slater Wave Company (KSWC), a division of the World Surf League (WSL). Plans for the groundbreaking development include a full-service resort, residential homes, a private club, multiple dining venues, adventure sport offerings, and progression-based training for the mind, body and soul, all anchored by the extraordinary KSWC wave technology.
The dramatic 400-acre site in La Quinta, California is set at the base of Coral Mountain and fully encircled by expansive views of the serene desert landscape. The ethos of this community revolves around the raw natural setting with a focus on sustainability.
The mission of Coral Mountain is to attract and invest in inspirational people, engage great creators, build innovative facilities and amenities, as well as commit to educate and grow an ever-evolving sports and wellness community. Access to the amenities at Coral Mountain, including the KSWC wave system, will be exclusively available to homeowners, hotel patrons, members and their guests, and dining available to the public through reservations.
"We are excited to bring to life an unprecedented vision for an experiential resort development, curated for today's active and engaged consumer here in Southern California and beyond," said Noah Hahn, Partner, Meriwether Companies. "Kelly Slater and the WSL are industry legends, and the perfect partners to feature as we create a revolutionary new way to live and travel."
The land, previously approved for 750 homes and an 18-hole golf course, is now owned by Meriwether Companies and Big Sky Wave Developments and is currently in the design and amended approval process. The current proposal maintains the same density as previously approved, while removing the golf course in place of the wave basin and other amenities, which will require significantly less water. Construction is expected to begin in the first quarter of 2021 with the launch of real estate sales following soon after.
Kelly Slater is widely regarded as the greatest professional surfer of all time and KSWC combines cutting edge science, engineering, and design to create the largest, rideable open-barrel, human-made wave in the world. The wave, coupled with purpose-built coaching and safety, provides the ultimate environment for surfing progression, competition, and pure enjoyment. In addition to powering elite events, KSWC technology produces waveforms for all levels of ability and preferences.
"I originally invested with Kelly in 2013 for my own personal surfing progression," said Michael B. Schwab, Managing Director, Big Sky Wave Developments. "I had no idea the impact it would have on my life, and I realized immediately that I had to share this opportunity. I've had everyone from my 4-year-old niece to my 82-year-old father at Surf Ranch in Central California, watching them grow as people through this indescribable surfing experience."
Meriwether Companies currently has existing roots in California and the Coachella Valley. They own the iconic Ingleside Inn and Melvyn's Restaurant in Palm Springs, two boutique hotels in Carmel-by-the-Sea and the Griffin Club in West Los Angeles, amongst other real estate and hospitality assets in the western United States.
About Meriwether Companies Founded in 2013, Meriwether is a private real estate investment and development firm focused on resort master plan, hospitality, and commercial development. The firm's portfolio of master plan projects includes Coral Mountain in La Quinta, California, and previous work in Park City, Utah; Fredericksburg, Texas; Big Sky, Montana, and Eagle, Colorado. Meriwether's hospitality assets include Griffin Club (Private Club: Los Angeles), The Hideaway, and The Getaway (Boutique Hotels: Carmel-by-the-Sea, California), and Parlor Oklahoma City and Parlor Kansas City (Food Halls). The company is actively developing residential projects in Rancho Mirage, California, Telluride, Colorado, and Breckenridge, Colorado. The managing partners of Meriwether include Graham Culp, Noah Hahn, and Garrett Simon. For more information on Meriwether and its principals, please visit www.meriwetherco.com.
About Big Sky Wave Developments Big Sky Wave Developments was founded by Michael B. Schwab in 2016 to develop exclusive wave zone resorts surrounding wave basins and natural surf breaks in untapped areas around the globe. Mr. Schwab had been an active and engaged investment professional with nearly two decades of experience investing in, and mentoring, early stage companies through every stage of company growth and technology/product development. Mr. Schwab has remained disciplined in his investment approach across all portfolio company investments, highlighting the primary focus on people first. Mr. Schwab sits on the board of directors at TAE Technologies and serves as partner at Emergent Capital Partners, as well as venture partner with Greenhouse Capital Partners.
About Kelly Slater Wave Company Kelly Slater Wave Company (KSWC), a division of the World Surf League (WSL), is an innovative wave technology and experience company. KSWC is the first company to develop a formula that combines cutting-edge science, engineering and design to create the largest, high-performance, human-made wave in existence as envisioned by 11-time World Champion Kelly Slater.
About the WSL The World Surf League (WSL), established in 1976, is the enablement platform for surfing and surfers worldwide. The WSL is dedicated to changing the world through the inspirational power of surfing by creating authentic events, experiences, and storytelling to inspire a growing, global community to live with purpose, originality, and stoke.
The WSL is a global organization, headquartered in Santa Monica and with regional offices in North America, Latin America, Asia Pacific, and EMEA. The WSL possesses a deep appreciation for the sport's rich heritage while promoting progression, innovation, and performance at the highest levels.
The WSL is comprised of Tours & Events, celebrating the world's best surfers across all disciplines and annually running more than 180 global contests and crowning the undisputed World Champions across all divisions; Kelly Slater Wave Company, where innovation meets experience; and WSL Studios, which offers best in class storytelling across competition, lifestyle, and conservation.
For more information, please visit WorldSurfLeague.com.