Newest Steamboat Real Estate Development–Edgemont–Has Successful Launch
Edgemont, the anticipated ski-in, ski-out Steamboat real estate development, had its Selection Event on Saturday. Over $45,000,000 in real estate was sold in one day with an average sales price of more than $2,000,000! The Edgemont real estate launch shows that luxury Steamboat Springs real estate is in demand, even as some real estate markets around the country continue to slide.
Edgemont is one of several new ski-in, ski-out properties at the base of the Steamboat Ski Mountain. Others include One Steamboat Place, where there are only two whole ownership condos left (although they have plenty of fractionals available).
The Century 21 office is directly across from Thunderhead Lodge, where we see pre-demolition activity all day. Thunderhead Lodge is coming down this summer to make room for another project. A letter of intent has been signed by (shhh, this is secret) Ritz Carlton, but nothing has been announced or confirmed.
Another change on the mountain is that Ski Time Square is now surrounded by a big fence. The abatement crews are there working on removing the asbestos before the whole block gets loaded into trucks to go to the landfill. The Tugboat is still open for business and might just be around next year. I’ve even heard that they may just leave the landmark bar and restaurant there and build around it. I like that idea.
All the projects in Ski Time Square are being developed and marketed by the same group of firms–the Atira Group and S&P Properties–and are being financed by Fortress Investment Group.

Posted: June 2nd, 2008 under New Developments.
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