Winter 2022/2023 Real Estate Update
I wrote most of this update during my annual extended stay in my home at Eagle Point over the Christmas holidays. This is my favorite time of year because it brings together my wife and kids with my work family and friends at Eagle Point. I get to stay for nearly three weeks taking in the true Eagle Point lifestyle that I promote for a living. It’s the perfect mix of holidays, family, friends, guests and fresh snow.
My first day on the snow this year was an all time classic. Blessed with a blanket of untouched powder, Eagle Point’s grand opening on December 16 was a signature #PowderFriday. It was also the first time I have ever had the “first chair” on a powder day in my 13 years here. I earned it fairly by arriving first at the Lookout Chair riding down Tunnel Vision from my home in Aspen Crest. Seated with two of my new neighbors who recently finished building homes in Aspen Crest, we chose Hoodoos for our first run. Floating blissfully at a quick pace on soft snow down Hoodoos’ consistent steep pitch, that opening day powder run was as good as they come. Here’s a direct text quote from my neighbor later that day: “That first run we did ranks as one of the best ever for me.” It sure was satisfying to welcome my new neighbors with such an awesome Eagle Point memory.
That’s me in the leftmost spot on the first chair of Lookout on 12/16/22.
That’s enough riffing on the Eagle Point lifestyle. Let me share a fourth quarter update of real estate activity in our community.
Aspen Crest Phase II
With all of the new developments sold out, I am finishing up plans for the release of 6 prime ski-in/ski-out lots in Aspen Crest located along the planned connector lift line. Aspen Crest Phase II will extend the iconic viewscape of homes that currently line the Glacier Glade ski run. This new 5 acre development is significant in its contribution to the master plan as it completes the buildout of the lower section of the Aspen Crest community which borders the planned Town Square, the future resort center. This is another example of monetizing the resort’s land resources to finance a generationally important resort improvement. The first of which was the $2.5 million addition of the resort’s first snowmaking system. The next planned improvement is a chairlift to connect skiers on the steep side back to the meadows side, over Highway 153, eliminating the shuttle bus from ski operations.
The Aspen Crest Phase II lots will be 0.5+ acres in size with prices above $500,000. There is also an opportunity to create a custom-sized trophy lot for the right buyer before I finalize the lot map with Beaver County sometime in Spring 2023. If you are interested in this opportunity, please let me know.
In the affordable lodging segment, the new Skyline Terrace Studio Cabins should be ready in time for the MLK holiday weekend, at least for a soft opening. These exceptionally located, low-cost lodging units are configured like classic hotel rooms with each of the eight units encompassing 288 square feet of space, high-speed internet, smart TV, electric fireplace inside and an outdoor private fire pit with two Adirondack chairs. Check Eagle Point's lodging page in a couple weeks if you are interested in staying in the new Studio Cabins (which are rental only; they are not for sale).
AVAILABLE CONDO & CABIN LISTINGS
Mt Holly Village Condo -- This 2BD/2BA, 734 sq ft unit is a turnkey condo opportunity for immediate move-in or rental income. Listing Price: $359,000.
Snowflake 31 -- This 1BD/1BA, 682 sq ft condo is a prime ski-in/ski-out opportunity. Listing price: $349,000
West Village Cabin - This mountain classic 3-bedroom cabin has been a great performer in our rental pool for years. Listing Price: $689,000.
AVAILABLE LOT LISTINGS
412 N. Summit Drive, otherwise known as Aspen Crest Lot 17, is listed for $325,000. This classic ski-in/sk-out lot is one of the original phase one lots in the subdivision. There are also a set of finished plans for the optimal home design for the lot.
Skyline Terrace Lot 1 is available for $385,000. Located in the resort’s newest development, Skyline Terrace, Lot 1 boasts premier ski-in/ski-out access and enjoys the signature view to the Southwest.
West Village Lot 66 is listed for $108,000 in the West Village community.
SALES SINCE LAST UPDATE
Skyline Terrace Condo 8 sold for $665,000.
Fir Haven Lot 2 is under contract for $575,000. This 0.91 acre lot is a prime ski/in-ski/out property located on the slopes adjacent to the Skyline Chairlift lower terminal.
West Village Lot 134 (0.79 acres) sold for $137,500.
123 Alpine Lane is under contract to close in early January 2023.
Aspen Equity Construction specializes in design + build projects where we can apply our unique understanding of terrain, snow and rainfall dynamics and best-fit materials for building in the Tushar Mountains. If you already own a building lot at Eagle Point and would like to break ground on a vacation home or investment property within the next two years, please ask us for a free estimate for building services.
I wish you all a happy and healthy new year in 2023!
Shane P. Gadbaw
Owner/Operator/Developer - Eagle Point Resort
Owner/Broker - Aspen Equity Real Estate