Pacific Community Ventures
Evergreen Lodge at Yosemite, Groveland, CA
Since 1921, the historic Evergreen Lodge had been a popular hideaway on the edge of Yosemite National Park. But when Brian Anderluh, Dan Braun, and Lee Zimmerman decided to purchase the property in 2001, they had a new and inspired vision for the place. They wanted not only to renovate the lodge and add 50 new cabins and communal buildings but also to create an employment program to help at-risk youth.
Although many potential investors were skeptical of their vision, Pacific Community Ventures (PCV) was not one of them. Through its offices in San Francisco, Fresno, Los Angeles, and San Diego, PCV provides capital and advisory services to California businesses with the potential to bring significant economic gains to low- and moderate-income communities.
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PCV matched Evergreen’s new owners with a volunteer advisor, an experienced hotel development professional who helped them plan for the expansion. A year later, PCV became the lodge’s largest institutional investor, providing $1 million of the $3.5 million in equity investment raised for the expansion.
“PCV was absolutely instrumental in enabling this business,” says Evergreen co-owner Lee Zimmerman. “They were the one institutional player that really understood the opportunities we were creating and that was really committed to supporting businesses that were interested in working with low-income populations.”
Today, the Evergreen is clearly succeeding in its dual financial and social missions. The lodge has earned high praise from several leading travel publications, including Fodor”s and Frommer’s. Moreover, since 2002, 60 young people from the Bay Area have received job training, one-on-one counseling from a social worker, and recreational opportunities through its youth employment program. Currently, 10 percent to 20 percent of the lodge’s seasonal hourly employees—or about 15 youth per year—participate in the employment program.
