Spring 2022 Real Estate Update

In my last update, I made a New Year’s resolution to seek moments of complete satisfaction, to snowboard more and to spend as much time as possible with my 18 year old son. I love it when a plan comes together! I recently finished a 12 day trip out west with back-to-back weekends at Eagle Point. My son and his three friends, all high school seniors, by their own planning, organized a guys ski and snowboard trip. It was really fun and I was mostly all smiles hanging out with my son and his friends in the waning days of their carefree high school lifestyles. They spent two full days skiing and riding, joking and eating, and more eating.

I found several moments of complete satisfaction during that trip and thoroughly enjoyed watching my son create his own memories and traditions with friends. When I first arrived at Eagle Point in 2011 and my son was 7 years old, I hoped that he would grow up with fond memories of our family adventure owning the ski resort. It is safe to say “so far, so good”.

With winter operations winding down on April 3, I’ve shifted my focus to the busy upcoming construction season with notable developments discussed below.

Skyline Terrace -- Beaver County’s Planning and Zoning Commission approved the preliminary plat for this new ski-in/ski-out subdivision of 9 condos, 6 homes and up to 10 studio cabins which will break ground in May 2022. The entire project is under contract with buyers who have given non-refundable deposits (except the studio cabins which will be held and operated as dedicated guest lodging units). I’m really excited for this project which will add a variety of overnight accommodations while opening a new development area near the Skyline Lodge.

A rendering of a Studio Cabin in the new Skyline Terrace project. The Studio Cabins will be located in a small cluster offering flexible year round lodging options for a party size of 1 to 20 guests.

Home Building - I am happy to report that we have successfully expanded the scope of our core subcontractor network, particularly framing and concrete subs, which has increased our capacity for accepting new home building assignments. 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 mountain range. 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 let us know if you would like a no-cost proposal for building services.

Available Listings & Recent Sales - Rising prices have created some new inventory of existing homes, condos and building lots in the Eagle Point area.

536 West Hyrum Lee Drive -- This is a great opportunity for a move-in ready, turnkey mountain home with a large garage at Eagle Point. Built in 2020, this amazing cabin has 2 BD, 2 BA, a loft, a large finished garage/shop and comes fully furnished, equipped with a generator, hot tub and big snow blower. List price: $849,000.
West Village Lots 56 & 58 -- This combined 1.66 acres two-lot property has awesome views with a building pad and driveway already roughed in. This is a great value for relatively large acreage. List price: $175,000.
A 3BD, 2BA ski-in/ski-out existing Holly Ridge condo (1,120 sft) hit the market this month listed for $367,500, following on the strength of the recent sale of Holly Ridge 8, a 2BD/1BA condo in the same complex for $300,000.
We represented the owner of a prime ski-in/ski-out Snowflake condo (1,037 sft) which only lasted a few days on the market before going under contract for $350,000.
During the summer months there will be a dozen or so new lot listings coming available from Aspen Equity Real Estate starting from $175,000. More details will be available in my next update in June. Send me an email if you would like to learn more about building lots when they are available.

Summer Events - We look forward to a summer full of fun including Crusher in the Tushars, Don't Trip Campout, Mountain Archery Festival and many others. Lodging reservations book up early with many prime July dates already sold out. Visit EaglePointResort.com for reservations.

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