Housing & Development · Napa County
Aetna Springs Resort Redevelopment Cancelled; Foreclosure Auction Postponed to Nov. 6
Aetna Springs Owner LLC announced that wildfire risk from the 2020 Glass Fire and 2025 Pickett Fire made it impossible to proceed with plans to restore the historic Aetna Springs resort in Pope Valley as a luxury development. The joint venture of IHG Hotels & Resorts, Pegasus Capital Advisors, and Weller Development had announced restoration plans in 2023 for the 672-acre property, which dates to 1877 and is listed on the National Register of Historic Places. A June 11 notice of default revealed the owner owed $31.9 million on a loan, and a foreclosure auction was held Oct. 30 at the fountain near the Napa County Superior Court building before being postponed to Nov. 6. Two firms allege unpaid debts: Olson Kundig claims $1.9 million with a settlement conference set for March, and Centric Building Inc. claims $494,000 with trial scheduled for March 1, 2027.