I recently met with the agent representing East West Partners on their new condominium development in Empire Pass. By way of reference, this new building will be constructed and built just below the existing Silver Strike Lodge. The building will be what the developer is calling “Modern Organic” – meaning there will be lots of wood, stone and glass in a more contemporary style than other buildings in the area. The building will be all concrete allowing for 10’ 6” ceiling in all of the residences, excepting the top floor which will likely have some taller elements. In addition, to maximize views and light (all units will have Lady Morgan/Empire views), all residences will be “see through” with no central hallways or corridors, and each will have direct elevator service to the front door. The outdoor common areas will have a large, rectangular “infinity” hot tub, along with two other private hot tubs and lots of lounge & deck chairs. While Talisker Club membership will be included, this building will also have fitness and kids’ rooms, a big “club house” type great room, and Inn Keepers who will live onsite and provide 24/7 services to owners and guests.
As presently designed, the building will consist of 27 total units as follows:
• Two 2-bedroom units of approximately 1,350 square feet; • Eleven 3-bedroom units between 1,900 square feet and 2,266 square feet, and the larger units also having media rooms; • Twelve 4-bedroom units with from 2,400 square feet to 3,200 square feet and as with the 3’s, the larger units also having media rooms; and • An ADA unit that can also be utilized through prior reservation by owners for overflow guests when otherwise not being occupied by an ADA guest, plus an Inn Keepers’ unit. • Also of note is that the two 4-bedroom penthouse units on the fifth floor come with huge rooftop patios and there is also the possibility of combining these two into one very large penthouse.
The opening of the marketing process is scheduled to begin with the opening of Deer Valley’s 2015/2016 ski season on December 12th. They expect to have the plat recorded and be able to take purchase contracts in mid-February and will time their reservations to commence between 30 and 45 days prior to contracts, in early to mid-January. They will commence construction in the spring of 2016 and expect an 18 month construction schedule so everyone will be moved in prior to the 2017/2018 season. They aniticipate average pricing will be around $1,250 per square foot so that should be a range of $1,150 PSF to $1,400 PSF, depending on location in the building and view.