Bridal Veil Falls will rise from the ashes.

That was the message Wednesday morning from a new group calling itself Bridal Veil Falls LLC, which announced plans to buy the property for an undisclosed amount. Less than a month after a fire demolished the old Eagle's Nest Lodge atop the mountain, partner Brady Harper said there are plans for a $10-20 million project to rebuild the tram and install new attractions, including an observatory and amphitheater.

"We have a lot of grandiose plans," Harper told reporters at a press conference at the base of the falls. "We figured we needed to strike while the fire's hot, in a literal and figurative sense."

Harper said the group has been in discussions with the property's previous owners, Beautiful Cascades LLC of Provo, since January 2007 and entered into a purchase agreement on June 16. While plans were to wait a while for any public announcement, the Pioneer Day fire "accelerated our plans," he said.

Partnering with Harper is Robin Roller, a ski-industry entrepreneur. Roller said the undertaking -- the goal of which he called "The Village of Bridal Veil Falls" -- will be dependent on community involvement. To start, the company is offering shares of ownership in the waterfall property at $99 each.

"We're going to allow every member of the community to own a piece of Bridal Veil Falls," he said. "There's multiple levels of what we want to accomplish."

Roller said the group is also looking for a "large sponsor" for the project, which it's calling "Refresh the Falls."

"We're going to do this in a very green, environmentally-sensitive way," he added. "I would hope when you come here, you're not seeing impact."

To accomplish that, the team has contracted with one of the state's only LEED-accredited developers, Harper said -- though he wouldn't disclose who. To earn Leadership in Energy and Environmental Design accreditation, a builder must demonstrate proficiency in green building practices.

Tram hardware and avalanche mitigation efforts will also be toughened over past efforts to minimize the risk of getting shut down by Mother Nature -- as happened on New Year's Day, 1996, the day an avalanche shut down the tram for good -- Harper said.

Steven Grow, who purchased the property with his brother David in 1971, said he's confident Harper and Roller have the right idea.

"The community loves Bridal Veil Falls, and they want a little bit of a commercial presence to make their visit more enjoyable," he said. "The new group seems to have a desire to combine the community, environment and the service industry."

Grow said his family will continue to play a role in the site's development, but didn't elaborate.

The new company is drawing up conceptual plans, but technology problems hampered their unveiling at the press conference, Harper said. The vision also includes a facility for weddings and receptions at the top and a "Founder's Circle" plaza at the base with a riverside cafe with outdoor seating.

Before any of that can happen, Harper and company have some loose ends to tie up. Because of the environmentally sensitive position of the site, the group is sorting through questions with both the U.S. Forest Service and the Utah Department of Transportation. Among the issues at hand is the location of a new tram base, which for avalanche safety purposes needs to be built about 300 yards upstream -- but that property is currently part of a UDOT easement, Grow said. Still, all involved parties have been cooperative and want to see the new project succeed, he said.

"They've been very cooperative," he said.

Harper and Roller said they anticipate that early construction work won't begin until next spring or summer, with the first projects addressing landscaping and trail improvement. It could be three or four years before anything structural is up and running, Harper said.

When all the work is done, Roller said he hopes the site will become "a place to come for two, three, four hours and enjoy an afternoon."

"It will stay very family-oriented," he said.

• Ace Stryker can be reached at 344-2556 or astryker@heraldextra.com.