Saturday, January 15, 2005
Five new condominium projects in the works hold the promise that Steamboat Ski Area base village will be busy with construction for several years to come.
The One Steamboat Place, Aspen Ridge, The Pointe, The Chadwick and the fourth phase at Trappeurs Crossing condominium projects are either poised to enter the city planning process, seeking a building permit or launching pre-sales.
One Steamboat Place is the new name for "Snowflower II," which is a condominium project that would be built in the gondola parking lot. The site was purchased from American Skiing Co. last year by Wildhorse Marketplace developer Whitney Ward. Ward, in turn, brought veteran Beaver Creek developer Dundee Realty USA into the project as the majority partner.
Land-use planning consultant Peter Patten confirmed this week that One Steamboat Place developers tentatively plan to submit pre-application documents detailing the concept for the project in February. As promised by Ward in May 2004, Patten said, the plan is to submit conceptual plans for Wildhorse Meadows at the same time. Wildhorse Meadows is expected to be a large luxury residential development on a 44-acre parcel historically referred to as Tennis Meadows. It adjoins the ski area's remote parking lot.
"We want to address all of the large issues at one time," Patten said. "It takes a lot to get me excited, but both of these projects -- this is really neat stuff for Steamboat. We're going to have a better look and reputation for our ski base," Patten said.
The Chadwick is an approved condo tower on the southwest
corner of Village Drive and AprÃs Ski Way. Foundation construction began in late 2003, but the project was dormant for most of 2004 while developers sorted out financing issues related to increases in construction costs. The developers have filed for a building permit with the Routt County Regional Building Department for the above-ground portion of the project, which would include 23 units in six stories.
The building permit application was being reviewed by city planning during the first week in January.
Steve Cavanagh, senior development manager for Mountain View Development, said the final financing for The Chadwick is not in place. However, if everything comes together, construction could resume in March.
Cavanagh said the original contractor, Drahota Construction, has signed a letter of intent to continue with the project.
Trappeur's Crossing has a long track record in Steamboat. The third of four approved phases for the condo project at Village Drive and Walton Creek Road was Champagne Lodge. In the third phase, 28 units were built in 2001 and 2002. A spokesman for the developers said they are preparing to offer presales in the fourth phase of the project.
The Pointe has entered the city planning process with a pre-application for a 23,676-square-foot condominium building that would be built at Mount Werner Circle and Eagleridge Drive on a small parcel immediately in front of Eagleridge Drive.
Greg Finch, executive vice president for Dundee Realty USA, said in late May the new condominiums would test the depth of the Steamboat market in price ranges of $400 to $600 per square foot.
Dundee has completed two projects in Arrowhead (linked to Beaver Creek by ski lifts) and broke ground on a third May 26. The company also completed two projects in the Bachelor Gulch development at Beaver Creek, which sold at prices of as much as $800 per square foot, Finch said.
Ward is interested in building a public, people-mover gondola from Wildhorse Meadows to One Steamboat Place. Ward has said Wildhorse Meadows would include very few commercial/retail buildings. Between May and September last year, he revised the number of units he envisioned building downward from between 500 and 600, to between 350 and 400.
Aspen Ridge would create 60 new Slopeside condominiums where the Ptarmigan Best Western Inn now stands on the south side of the Headwall ski trail. Washington, D.C., developer Cafritz Interests proposes tearing down the Ptarmigan to make way for the condos.
-- To reach Tom Ross call 871-4205
or e-mail firstname.lastname@example.org