Steamboat Base Area Redevelopment Full Speed Ahead
Recession? What recession?
Approval has been granted for a new promenade around the Steamboat Ski Area base area highlighting Burgess Creek and a new 5-star luxury development, most likely a Ritz Carlton.
The best part? The promenade and Burgess Creek diversion will start this summer, making Steamboat Springs one of the nicest ski areas once we come out of this recession.
The promenade will create a walkway that runs in front of the new One Steamboat Place, Gondola Square, the Sheraton, Torian Plum, and ultimately the new Ritz-Carlton at the old Thunderhead Lodge site. Burgess Creek, which currently runs underground through pipes, will be daylighted and turned into a rushing stream summer visitors can enjoy.
Steamboat City Council also approved the new 5 star redevelopment at the Thunderhead Lodge site, although Atira Group won’t start construction right away.
Ritz Carlton has signed a letter of intent to be the operator of the luxury development. It will have about 100 residential units plus a few shops and restaurants, and is estimated by one attorney to be worth $290 million in sales volume.
What does that mean for Steamboat real estate buyers now? You can get a drop-dead-gorgeous furnished 4500 sq. ft. luxury log home for $1,150,000 or ski-in, ski-out real estate for $600 a sq. ft from a few motivated sellers who can’t wait around for the rebound in prices.
It’s like getting new high-end, luxury real estate at a 30% off sale.
There are some incredible deals with resale properties right now. New construction prices are holding, but you can get a few more perks with new construction than you could a year ago.
Contact us or call (970) 819-6372 to talk about the best values on the mountain.
Posted: May 6th, 2009 under Ski Stuff.
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