Colorado Real Estate News - Denver Colorado Homes for Sale
Quality local news and information from professional Colorado real estate brokers who know their stuff. Local real estate news, information and listings for Colorado, authored by Denver real estate company Legacy Real Estate Brokers, Inc. and edited by RISMedia.Colorado Homes For Sale | Resorts spend billions to improve lifts, lodging, homes
Colorado Homes For Sale | Resorts spend billions to improve lifts, lodging, homes
The ski season officially started today in Colorado and there is a lot in store as far as improvements, expansions and resort real estate options available this year in Colorado Ski country.Arapahoe Basin ski area’s opening day for the 2007-2008 was today. This marks Arapahoe Basin’s earliest opening in its 61 years of operation. Last year the ski area was the first to open in the nation and this year A-Basin continues that trend.New this season, A-Basin will introduce Montezuma Bowl, 400 acres of lift served groomed runs, glades, chutes and wide-open bowl skiing. The new expansion is expected to open sometime in late December, snow conditions permitting. With plenty of real estate choices in Summit County this will be remain a local favorite ski area as well as tourist destination spot.
Colorado’s ski areas are going to extremes to outdo each other again this season.
Collectively, resort operators and investors are sinking roughly $3 billion into ambitious makeovers that involve everything from slope side real estate development to mountain upgrades.
More than 12.5 million skiers flocked to Colorado resorts in each of the past two record-setting seasons, helping to justify all the building activity. This creates cash flow and a reason for builders to continue to develop a wide variety of ski is real estate options
Some ski resorts like Steamboat, Vail, Snowmass and Winter Park, are practically reinventing themselves in the process with grand villages replacing the ’70s-style motifs. And while the biggest projects stretch over a few years, key phases already have been completed.
Local resort experts say the resorts have little choice but to think big, given the luxury tastes of those who travel to Colorado for ski vacations. The vacation traveler has gotten spoiled, not just by ski resorts but also by everything they do on vacation businesses. The consumer has developed higher expectations and has become pickier.
Skiers increasingly want to stay as close to the ski runs as possible, while still having easy access to dining, retail shops and entertainment. And the demand for luxurious lodging has been growing.
That helps explain why resorts with outdated base villages have been leveling or renovating older buildings or building a slew of new ones. The town of Vail for instance, with the help of the ski area operator, has been undergoing a $1 billion-plus renewal. Farther west in the Aspen area, Snowmass Village will unveil $25 million worth of new improvements, part of an overhaul plan to reinvent the aging base area there as well.
A number of big ski areas have been playing catch-up with the help of new owners. The Mueller Family has put $200 million into a base village overhaul at Crested Butte. The southwestern ski resort had lacked luxury lodging and a big meeting facility at the base.
Winter Park, which has been among the last to develop its base area, has grand plans for a pedestrian village and already has committed $132 million to the first phase of the project. Almost 200 new condo units will open in January, while a parking structure with roughly 300 spaces will be available in December. The projected opening for a new commercial village is December 2008.
Intrawest’s 2007 purchase of Steamboat Ski Resort also kicked off a building boom in the area. Much of the base is slated for redevelopment, and the downtown area is flush with construction projects. In its first major move under a new owner, the ski area spent $16 million this summer to fix flaws in its beginner area and moved and installed chairlifts.
A number of other areas - Copper Mountain, Telluride, Arapahoe Basin, Echo Mountain and Monarch - have opened new ski terrain this season
Winter will be here before you know it and we look forward to seeing you! Mark your calendar and come explore the many Colorado real estate options available. The projected opening dates for other resorts are:
Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in Denver Colorado. You can visit their website at www.discovercoloradorealestate.com.
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About Local Author
Denver Colorado real estate experts Legacy Real Estate Brokerage, Inc. is a full service Colorado real estate firm specializing in Colorado real estate for sale including purchasing a Colorado custom home. They have outstanding brokers who are highly familiar with the neighborhoods, communities and lifestyle options available throughout the Colorado Real Estate market.
[…] Denver Colorado Real Estate News - Denver CO Homes for Sale wrote an interesting post today on Colorado Homes For Sale | Resorts spend billions to improve lifts, lodging, homesHere’s a quick excerpt[ Colorado Ski Country] Colorado Homes For Sale | Resorts spend billions to improve lifts, … big, given the luxury tastes of those who travel to Colorado for ski vacations. The vacation traveler […]
[…] Denver Colorado Real Estate News - Denver CO Homes for Sale wrote an interesting post today on Colorado Homes For Sale | Resorts spend billions to improve lifts, lodging, homesHere’s a quick excerpt Colorado Ski Country Colorado Homes For Sale | Resorts spend billions to improve lifts, … big, given the luxury tastes of those who travel to Colorado for ski vacations. The vacation traveler … lodging, homes The ski season officially started today in Colorado and there is a lot in store […]
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