december-2009

090
BUSINESS
leaping at the opportunity to acquire prime
ski-area real estate at a fraction of what
other Colorado resorts command. And,
according to Lance Gutersohn, owner of Re/
Max Peak to Peak Realty and board president
of the Winter Park/Fraser Chamber
of Commerce, more than 90% of the new
residential offerings in the surrounding area
are second homes. This growth has already
had the trickle down effect of creating more
restaurants, nightlife establishments and
non-ski activities, and at least a thousand
more residences are planned for development.
If you’re in the market, here are some
things to consider before you buy:
PROS: Winter Park is the closest major
ski resort to Denver, and is served by train
from the city’s Union Station. There is
excellent variety of terrain, including the
Mary Jane ski area, widely regarded as
one of the best bump skiing venues in the
nation. Winter Park is family friendly and
has reliable snowfall, and there are preapproved
plans with the National Forest
WINTER PARK PRICES
HERE’S WHAT YOU’LL GET
FOR YOUR MONEY
DELUXE: At the base of Mary Jane is
Bridger’s Cache, an enclave of 20 lots for
custom ski-in/ski-out homes, which local realtor
Lance Gutersohn says are the crème de la
crème of the area. Sites begin at just less than
$1 million; homes are less than $3 million.
MODERATE: The nicest offerings at
Intrawest’s new base area are the slopeside
Lofts of Winter Park Village, luxury condos
GO MAGAZINE DECEMBER 2009
Service for a third ski mountain should
new residents crowd the resort.
CONS: The Village of Winter Park is
nearly 2 miles from the ski resort. That’s
not far, but Aspen, Vail, Breckenridge and
Telluride are right in town. And, while tourism
infrastructure is growing quickly, the
area is still behind in terms of the quantity
of restaurants, shopping and nightlife. At
present, the Winter Park name lacks the
international recognition and glamour of,
say, Aspen, which affects real estate values.
BY COMPARISON: Winter Park is often
listed among the nation’s top 10 ski resorts,
but prices are much lower than at rivals,
especially in the popular west-of-Denver
corridor. Home prices in Winter Park’s
“We were
just a ski hill.
Now we are
a destination
resort.”
above the retail storefronts and restaurants.
Finished with hardwood floors, granite
counters, stainless-steel appliances, large
balconies and fireplaces, the units are first
rate but relatively affordable. A two-level,
three-bedroom, 1,070-square-foot unit runs
about $700,000.
BARE BONES: Before the new village was
built, the main base area’s option was the Iron
Grand County average $450,105; a new
two-bedroom ski-in/ski-out condo in the
base village is around $350,000. In adjacent
Summit County (home to Breckenridge,
Copper Mountain and Keystone), the average
home price is $817,798, and in Aspen,
it’s more than $5 million. Snowmass,
Aspen’s less expensive mountain, just built
a large new pedestrian base village, where
studios begin at $535,000.
INCOME POTENTIAL: Because the ski
resort has very little hotel lodging, the base
area condos serve as de facto overnight
accommodations; occupancy rates run
high in ski season and on summer weekends.
Any of the new village condos can be
placed under the resort’s rental management
to generate income when not in use.
Whether or not Winter Park will join the
prestigious ranks of Aspen, Vail and company
remains to be seen—but, based on
its recent growth, it definitely has all the
ingredients of a world-class resort.
Horse condominium complex; while about 30
years old, it’s still slopeside. A 413-squarefoot
studio goes for about $145,000.
OFF THE MOUNTAIN: The growth of
the ski resort has led to several nearby
developments, the largest of which is
Grand Park, a 1,700-acre community at the
north end of Winter Park. It has its own
village underway and the first two phases
of a 30-year master plan are now open. A
brand-new, 2,300-square-foot, four-bedroom
home meeting Colorado’s “Built Green”
certification costs $549,000.
The latest additions to Winter Park’s base area are the
twin condo buildings of Fraser Crossing and Founders
Pointe, where a fully furnished, 1,075-square-foot,
two-bedroom, two-bath condo (shown here) can be
purchased for about $350,000.
WINTER PARK RESORT (2)