New homes to nestle along Gore Creek
The line forms to the right, and only the well-heeled need apply.Gore Creek Place, a 16-unit cluster of homes nestled along Gore Creek and one of the first projects in the long-touted redevelopment of Lionshead, is now in its marketing phase. Given the interest so far in the project, Larry Peterson, the project’s listing broker at Slifer Smith and Frampton, is hammering out details of a potential “selection drawing” to see who gets to open his checkbook wide and buy one of the multi-million dollar homes. “We should know by the third week of July whether we’ll have to do that,” Peterson said.Determining just who will purchase one of the four- or five-bedroom homes is about the only variable left in the process. The exterior design has already determined by the town of Vail approval process and buyers will have some options with interior finishes, but the homes are being sold essentially complete.
The homes present a unique opportunity for those with the means to buy them: The project is all-new construction in Vail, which doesn’t happen very often, and it’s also a chance to get in on the ground floor of the Lionshead redevelopment project.The homes will be located essentially between the Marriott and Gore Creek, with the fronts doors facing the creek and Vail Mountain.While the structures are single-family homes, they’re arrayed in pairs along the creek, Vail Resorts Development Company construction director Jack Hunn said. Access will be off Forest Road on the east side, with a gated tunnel leading to the homes’ garages.”It’s a pretty unique project,” Hunn said. “It’s close to skiing and the creek, with southern exposure.”So what will demand be like? One veteran of the valley’s high-end real estate market thinks the marketing could present some challenges.
“This is the first and earliest part of the changes to Lionshead,” Vail Realtor Ron Byrne said. “But the market around it will rise.”While acknowledging the challenges of selling brand new homes in an area that’s yet to blossom as planned, Byrne said he sent letters about the Gore Creek Place project to about a dozen of his clients. Those letters included “fairly strong recommendation” to look into the property, he said.”I’m telling clients it’s a charming site,” Byrne said. “When the hotel and the rest of the amenities go in, it will be the best of all worlds.” In fact, Byrne said, the redevelopment of Vail could bring some buyers back from Beaver Creek, Arrowhead and Cordillera.And that could create a line outside Gore Creek Place.
Gentlemen, start your checkbooks:• Work will start this fall on the first eight homes in the 16-unit Gore Creek Place project near Lionshead.• The first eight units will be finished in December of 2005, with the next eight finished a year later• Four- and five-bedroom homes are available in sizes ranging from 3,500 to 4,400 square feet, prices ranging from $3.5 to $4.6 million.For more information, go to gorecreekplace.com