New complex pushes lux price point

Elkhorn townhomes to be offered in $2M range

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— A new luxury slopeside development is pushing the market for what buyers are willing to pay for high-end townhomes.

The five units -- a duplex and a triplex -- sitting under the gondola, below Bear Claw Condominiums and above Chateau Chamonix will be 4,200 square feet each and priced in the $2 million range.

The project, Elkhorn at Steamboat, received development approval from the city Planning Commission on Thursday and will go before the City Council in July. Construction is expected to follow shortly after the final approval.

In 2002, the 18-unit Antlers at Christie Base townhome project broke through the $1 million ceiling on condo projects. RE/MAX Realtor Stephan Baden, who is a co-owner and listing agent for both projects, said Elkhorn is a step up in both size and features.

When buyers were looking at the 2,400-square-foot Antler units, Baden said, they kept asking if there were any bigger ski-in and ski-out properties. The 4,200-square-foot Elkhorn units, which have four bedrooms and four-and-half baths, are designed to feel like single-family homes, Baden said.

With four reservations already made, Baden believes a market exists for Elkhorn.

"For ski-in and ski-out (property), there are those looking for large single-family residencies. Even at Antlers, they were looking for larger units," Baden said.

Along with a prime slopeslide location, the units' high-end features include hot tubs on every deck, heated driveways and a private ski room, locker room, garage and elevator for each unit.

"This is the finest multifamily property in Steamboat," Baden said.

The exterior of the building will be a blend of wood siding, stucco and stone veneer.

When the plan came through the city's preapplication process this winter, it was marketed by Todd Asbury, who was then with Steamboat Village Brokers. Five local residents purchased the property the previous year and decided to discard the plan for a high-rise building that was approved in 1980.

The land has since switched hands. John Peddie is one of the lead developers on the project and it is now co-owned by Baden and RE/MAX Realtor Ken Gold. Both Realtors also are the listing agents.

Except for the name and owners, little has changed from the preapplication plans that came through the city in January.

Baden said they hope to have the project completed by the fall of next year.

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