2305 Mount Werner Circle in Steamboat Springs CO (Fall Creek Group)
Almost five dozen acres are up for auction at the base of a well-known ski resort in Colorado as the owner tries to end a decades-long deep freeze of development.
FallsCreek Group put the 59-acre plot of land up for an online public auction, the company announced this week. The land is at the base of the Steamboat Ski Resort in Colorado, which counts more than 1 million visitors annually.
No date for the auction’s conclusion or minimum bid were disclosed.
The ski resort is served by a single base, the largest ski area in the world to have that distinction, according to the press release. The development of a second base would ease overcrowding and improve logistical issues at the resort.
The second base was approved with the property’s master plan back in 1970. Thomas Grant’s family purchased the Base II property for development around the same time, but the area has yet to be developed; Grant is the managing partner of FallsCreek Group.
The property connects the northern boundary of the ski area with downtown Steamboat Springs. The base will provide access to the north half of the ski area and would include a 12-passenger gondola to the Mount Werner Summit.
The development potential of the land is enormous. The wooded site is expected to ultimately include residences, hotels and luxury shops. The ski company is expected to develop the terrain for the ski area this year.
The base is expected to be operational in the next few years, the ski company has told the FallsCreek Group.
There may not be a minimum bid needed on the land — at least one that has been publicly stated — but the seller plans on landing plenty of hard, cold cash in the auction. A bid package request for the property singles out “high-net-worth individuals and or large investors and developers.”
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Almost five dozen acres are up for auction at the base of a well-known ski resort in Colorado as the owner tries to end a decades-long deep freeze of development. FallsCreek Group put the 59-acre plot of land up for an online public auction, the company announced this week. The land is at the base
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Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.