Summer 2023 Real Estate Update

I spent a week in June at Eagle Point with my wife and 13-year-old daughter for a hybrid work trip/family vacation. We sampled most of Eagle Point’s summer product offerings, and our absolute favorite was horseback riding, a newly released experience. It’s still a bit snowy and muddy at the higher elevations above the resort, so our guide took us riding on an old horse trail along the South Creek of the Beaver River. We had the best time riding, sightseeing, laughing and developing relationships with our horses throughout our 2.5-hour ride.

When it comes to “western experiences”, it is hard to imagine anything more iconic than horseback riding. We have ridden horses many times before, but the beauty of the scenery, the affability of the guide and the majesty of the horses made the Eagle Point experience extraordinary. Starting next week, we will have the horses corralled on the mountain in the tree-lined meadow above the skiers’ tunnel, adding greatly to the ambience of summertime in the Tushars. You can book the horseback riding experience on our website. I highly recommend it. Come up and escape the heat this summer.

The construction season is underway, and this will be one of the busiest in the history of the resort. In addition to all the projects that my team and I are working on (27 condos, 5 custom homes, 8 new ski-in/ski-out lots and significant trail-building), the resort-area public water authority is undertaking a major water system improvement project. The project features the installation of a new 250,000-gallon water storage tank, almost doubling the current system’s storage capacity, and the development of a third spring, providing a valuable new source of culinary water. The culinary water improvement project is among the most strategic infrastructure projects undertaken during my ownership. I am really excited to see this become a reality and secure a strong foundation for the future of our resort and community.

REAL ESTATE UPDATE

We are still seeing consistent mountain real estate interest despite higher rates and expect a busy summer of visitation. Detailed below is a second quarter 2023 update of real estate activity in our community.

NEW DEVELOPMENT

Aspen Crest Premier Phase II

The final phase of Aspen Crest consists of 8 of the nicest ski-in/ski-out lots in the country, extending the iconic viewscape of homes that currently line the Glacier Glade ski run. We received preliminary plat approval from Beaver County in June and are now marketing these premier homesites starting at $500,000.

Aerial footage of the 5-acre Aspen Crest Premier Phase II subdivision area.

Pinnacle Pines Subdivision

The Pinnacle Pines subdivision is the epitome of convenience for mountain living at Eagle Point Resort, with only a short walk to Canyonside Lodge, the pulse of the ski area. Gorgeous views of the surrounding mountains and easy access from the highway are among the many additional benefits of ownership in Pinnacle Pines. The subdivision is undergoing a total replacement of the culinary water system that is already approved and funded by the local water authority. Prices start at $200,000 (see Pinnacle Pines listings below).

AVAILABLE CONDO & HOME LISTINGS

Skyline Terrace Condo 4 -- This 1BD/1BA, 880 sq ft ski-in/ski-out condo is under construction for delivery in mid-2024. Listing price: $375,000.

Wooded Ridge Condo 5 -- This 1BD/1BA, 640 sq ft ski-in/ski-out condo can accommodate 4 people. It is a great condo for personal and/or rental use. Listing price: $289,000.

252 N Elk Meadows Drive -- This 4BD/3BA, 2,262 sq ft turnkey ski-in/ski-out cabin includes everything your heart desires in a mountain home. Built in 2018 and substantially remodeled in 2021. Listing price: $1,620,000.

Snowflake Condo 11 -- This 2BD/2BA + loft, 1,204 sq ft ski-in/ski-out condo comes fully furnished with multiple upgrades throughout. Perfect for personal and/or rental use. Listing price: $555,000.

AVAILABLE LOT LISTINGS

Aspen Crest Premier Lot 1 -- This 0.93 acre ski-in/ski-out lot is located atop the Aspen Crest neighborhood. Views in every direction. Arguably the best lot at Eagle Point and the gem of Aspen Crest. Listing price: $950,000.

Skyline Terrace Homesite 1 -- This 0.44 acre ski-in/ski-out lot is located in the new Skyline Terrace neighborhood, which is nearly sold out. Listing price: $385,000.

Eagle Song Lot 2 -- This 0.44 acre ski-in/ski-out lot is located in the heart of Eagle Point Resort with prime access to the slopes. Listing price: $500,000.

These Pinnacle Pines lots are only a short walk from the Canyonside Lodge:

Pinnacle Pines Lot 11 -- 0.60 acre lot. Listing price: $239,000.

Pinnacle Pines Lot 13 -- 0.63 acre lot. Listing price: $310,000.

Pinnacle Pines Lot 15 -- 0.67 acre lot. Listing price: $330,000.

Pinnacle Pines Lot 17 -- 0.97 acre lot. Listing price: $475,000.

Pinnacle Pines Lot 28 -- 0.61 acre lot. Listing price: $200,000.

Pinnacle Pines Lot 37 -- 0.59 acre lot. Listing price: $280,000.

Pinnacle Pines Lot 39 -- 0.58 acre lot. Listing price: $285,000.

These West Village lots are terrific value real estate at Eagle Point and also only a short walk from Canyonside Lodge:

West Village Lot 45 -- 0.76 acre lot. Listing price: $80,000.

West Village Lot 47 -- 0.57 acre lot. Listing price: $80,000.

West Village Lot 126 -- 0.91 acre lot. Listing price: $88,000.

West Village Lot 27, West Village Lot 28, and West Village Lot 29 -- are a cluster of adjacent lots for $70,000 each. This is a great opportunity to own a sizable chunk (2.54 acres) of Eagle Point land.

West Village Lot 66 -- 0.98 acre lot. Listing price: $90,000.

SALES SINCE LAST UPDATE

Pinnacle Pines Lot 20 -- 0.63 acre lot sold for $250,000.

West Village Lot 145 -- 0.79 acre lot sold for $80,000.

Aspen Equity Construction specializes in design + build projects where we 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.