I've heard a rumor that GF Properties Group, the investment arm of the Southern Utes and the majority owner of Belmar, is looking at putting Belmar on the market. The speculation is that the Southern Utes, whose reservation sits on large natural gas deposits, need to free up cash to compensate for falling energy prices.
The Southern Utes, through GF Properties Group, have been good for Belmar, staying true for the most part to the original vision of Belmar as a vibrant, urban center.
If they do decide to sell, we'll have to look carefully for signs that the new owners remain as committed to that vision.
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