Summer 2021 Real Estate Update

The age of remote living is upon us, my friends. Indeed, this phenomenon started before COVID, at least in the case of those people whose careers are conducive to success without having to be in the office. Many entrepreneurs I know have long been proud to be unshackled from the office to run their businesses from iPhones in their favorite place(s). Of course, the pandemic and technology have accelerated this trend as increasingly more individuals find the perfect conditions to make the transition, including stay-at-home office mandates, virus concerns, acceptance of software and tech, and the exodus of people from big cities seeking more blissful, connected places to live and work. “Bravo!” to the movement and to the individuals who are taking the plunge by purchasing beach houses, country homes and mountain properties where they are planning another phase of their lives surrounded by nature while connected by technology. I’m all for it and have been preparing my life, and Eagle Point, for this moment for a long time.

As a full time community builder, I get to meet so many interesting people and engage with them on a significant, personal level often spending several hours getting to know each other through the sales cycle. I have had the pleasure to become friends with Monty Powell and Anna Wilson, who recently bought a ski-in/ski-out homesite and a cabin at Eagle Point. Anna and Monty are award-winning songwriters, producers and live musical performers. Their chart topping songs with artists like Keith Urban, Lady A, Tim McGraw, and others can be heard on over 60 million albums worldwide. The ability to trade audio files quickly across a high speed internet service in their connected home at EP allows Anna and Monty to collaborate in almost real time with other songwriters and musicians around the world. The couple plans to create a world class recording facility at their EP home providing a unique platform for Anna and Monty and the artistics they work with to visit these special mountains to relax, recreate and make music. Remote Work + Living + Music, all on full display at Eagle Point. Welcome to the neighborhood, Monty and Anna.

The team and I have been running at 7,000 rpms all summer executing on the projects I announced in the last update. An update on those will follow, but first, I’m excited to reveal the next projects in our master plan roll-out. These projects will keep us busy the rest of this season and all of 2022. Together, the two projects will create a range of real estate opportunities, including small-scale homes, condos, affordable lots and prime ski-in/ski-out lots.

Aspen Crest Phase II: The resort’s premier ski-in/ski-out location, Aspen Crest, will be home to 9 more signature homesites adjacent to the future “Town Square”. These half acre ski-in/ski-out lots eventually will enjoy a short walk to the new restaurant, spa, pool and the hotel grounds for the ultimate high amenity resort lifestyle. Prices start at $400,000; only 8 lots remain available.

Concept map showing how Aspen Crest II (ACII) fits with the future Town Square.

Skyline Terrace: I’m really excited to start planning the Skyline Terrace project with my friend and planning partner, Chris Gonya (chrisgonya.com). With a goal to offer more affordable living options (because not all Eagle Pointers can pay $400,000+ for a piece of land), Skyline Terrace will be a planned ski-in/ski-out development with one- and two-bedroom condos, tiny artistic homes and affordable midsize lots plus a boulder hiking park with observation platforms delivering impressive horizon views for miles. With coordinated design themes, the Skyline Terrace opportunities will be sold as finished products all designed, developed and built in partnership with Chris and my Aspen Equity Construction team. We will begin marketing these opportunities for reservation when Eagle Point opens for winter operations in mid December 2021.

Strategic Investment Opportunity: I am targeting a strategic investment opportunity that will play a key role in the resort’s future. The private opportunity is top-secret, would require signing of a non-disclosure agreement and is only open to accredited investors with a minimum investment size of $500,000. If those conditions apply and you would like to learn more about the opportunity to co-invest with me, please send me an email.

Canyonside Collection - These new construction condominiums set the new standard for overnight lodging at Eagle Point. The team and I finished the new Canyonside Collection condos in July and have been operating them with a soft opening since then. Reservations are now open for the upcoming winter, so make your reservations now while you still can.

The living room of Canyonside Collection Unit 1 is blissful.

Aspen Crest Premier and Eagle Song Subdivisions - All of these lots sold out before groundbreaking at prices from $250,000-$700,000. Eagle Song will be delivered to the new owners in September and Aspen Crest Premier will be delivered in October.

Snowmaking - Construction of the second pond is well underway and installation of the new snowmaking line down to the Tunnel is nearly complete. These investments bring snowmaking capability to the beginner terrain off Skyline and importantly to the future Town Square area where the new lodge and hotel will go.

Inventory is at an all time low - The cabin at 252 N Elk Meadows Drive sold for $950,000. There hasn’t been a condo available anywhere in the resort area for several months. You will find slim pickings for building lots in West Village with only two lots listed by third-parties for prices that seem a little too high to me.

If you are interested in buying or selling at Eagle Point or just learning more about what’s happening in the area, give me a call at 917-213-4270 or email me shane@skieaglepoint.com.

Best wishes,

Shane

Shane P. Gadbaw

Owner/Operator/Developer - Eagle Point Resort

Owner/Broker - Aspen Equity Real Estate