The fate of iFly El Paso, which offers simulated skydiving experiences to customers who like to soar, is still up in the air after the time for a scheduled foreclosure auction came and went last Tuesday.
It was a busy day for on-the-spot foreclosure auctions of homes and other properties at the county courthouse, but no one showed to buy or sell iFly El Paso, which carries a $10.5 million promissory note.
iFly El Paso just opened in April at 430 Vin Rambla, near Topgolf and within throwing distance of Interstate-10 on the western fringe of Richard Aguilar and EPT Land Community’s sprawling Montecillo development, which fronts on North Mesa.
Surprising many, including City Hall officials involved in crafting an incentive package for iFly, the property was posted June 11 for auction.
It was to take place last Tuesday at the courthouse, but an attorney representing one of the owners said the sale was called off Monday. He offered assurances that the iFly franchise isn’t going anywhere.
“Operations are running just fine,” he said, asking not to be named. “As a matter of fact, it’s my understanding that business is actually growing from the operational side.
“This is really just an internal ownership struggle between the two entities, essentially the two individuals that own FlyZone LLC.”
He added, “My client is just trying to make El Paso iFly work and see to it that it stays operational and stays good.”
The owners of FlyZone are Lynda Sharpe of Vancouver, Canada and Bill Adams of Seattle.
Little information is available about Sharpe, but Adams’ LinkedIn account says he “developed, owned and operated the first indoor skydiving facility in the Pacific Northwest, iFly Seattle” from 2014 to 2018 and then sold it back to the parent company, SkyVenture International.
The city provided iFly with a three-year incentive package worth $163,863 that included rebates of construction permit fees and sales taxes, but not property taxes. The city has said it has not paid out any of those rebates yet.
Email El Paso Inc. reporter David Crowder at firstname.lastname@example.org or call (915) 534-4422, ext. 122 and (915) 630-6622.