Hotel/Condo/Retail Project at Breckenridge Gondola Base

In an article by Julie Sutor in the Summit Daily News, on December 23, 2009, it is reported that Breckenridge's last major development is one step closer to reality.

Vail Resorts will go before the Breckenridge town council next month seeking final approval for a hotel, condos, commercial space and two parking structures at the base of the BreckConnect Gondola.

A major goal of the project is to enhance the flow of people between Main Street and the ski area. Alex Iskenderian, VP at Vail, said "We wanted this area to feel like an extension of the town, rather than just something separate on the outskirts. The gondola has already helped link the ski area with the town, and the development of the gondola lots will help complete that link."

The planning process for the Gondola Lot Master Plan has taken about two years, and has received unanimous approval from the Breckenridge Planning Commission earlier this month.

Iskenderian said the desire to create continuity between public and private amenities leads to a uniquely collaborative process not often seen in the development world. "We've worked on this hand-in-hand over the last two years to come up with a vision. It's been a real pleasure to work on, and it's led to a really great plan."

Once the master plan receives the town council's OK, individual components of the project will require approval as Vail produces more detailed designs. The company expects to complete the project during the next five to ten years, as market conditions allow.

For more information contact Susan Gunnin, or go to www.Breck4Sale.com.

County eyes renewable energy rules

Code changes would emphasize the 'general right' of property owners to use renewable energy.

In an article in the Summit Daily News, penned by Bob Berwin on November 27, 2009, it is reported that, even though still subject to additional review and public comment, local officials are revamping development rules to establish guidelines for renewable energy systems including solar arrays, wind turbines and small wood-burning furnaces.

Currently, county codes don't spedifically address some key questions about these emerging technologies. Updated code language could help foster more installations of small-scale, renewable energy systems.

The general thrust of the discussions is to give property owners the right to use these resources as long as there is no significant impact to neighbors or the environment.

For solar arrays, the code changes would allow erection nearly anywhere on the property other than in the front yard between the house and the street. The systems would be allowed to exceed the maximum allowable building height by 10 percent. Solar panels would also be allowed in setbacks.

Wind turbines are not anticipated to be much in demand because there simply aren't many areas where adequate winds are sustained. They would be allowed in some rural areas. Quieter, vertically mounted turbines would be allowed in all zoning areas, not to exceed maximum building heights by 10 percent.

Small-scale, wood-fired burners that could make use of some of the beetle-killed pines would be limited to side and rear yards with stack height permitted to exceed maximum building height by 10 percent. The county would like to encourage the use of wood-burning energy systems as long as they meet applicable clean-air standards and other environmental requirements.

Small-scale hydropower installations would also be allowed in all zone districts under regulations aimed at protecting stream flows, water quality, aquatic habitats and impacts to surrounding areas.

Copper Mountain under new ownership

This is a complete reprint of an editorial that appeared in the Summit Daily News, November 19, 2009, entitled

New Copper owner looks like a good fit

After months of speculation and rumor, the announcement came Tuesday that Intrawest will sell Copper Mountain in a deal expected to be completed before the start of 2010.

If this had occurred in the not-too-distant past, one might expect the eventual buyer to come from the hotel or real estate sector, but times have changed. Ski companies that once relied on real estate revenue to provide a financial base have recognized what truly made the real estate valuable in the first place: prime locations, great skiing mountains and a strong “guest experience.”

Powdr Corporation, a privately held company based in Park City, Utah, appears to be a good fit as Copper's new owner (the purchase still requires Forest Service approval). It is an American company that apparently knows skiing and has a solid reputation in the industry. Its other resorts are ones with which skiers and boarders are familiar: Killington and Pico in Vermont, Mt. Bachelor in Oregon plus a couple in California and one, believe it or not, near Las Vegas.

We'll continue to follow this story and will publish more stories about Powdr Corp, its management and plans for Copper in the coming months, but at first glance this looks like a ski company on the rise and, one hopes, a company coming to the Copper table ready to listen.

One of Intrawest's mistakes (which it shared with the ownership before it) was to corporatize Copper's base village — a move which drove out independent retailers and restaurants in favor of Intrawest branded storefronts. All one need do is look at places like Breckenridge, Aspen and Vail to see how much more robust a base village is with independent businesses at its core.

Times being what they are, we don't expect Powdr to come in with millions of dollars in improvements right away. What is hoped is they come in willing to learn as much as they can about the resort and the greater Summit County community, which takes a great deal of pride in its ski areas. There aren't many full-timers at Copper, but there are plenty of homeowners and a handful of longtime business owners with strong opinions about what's worked and what's not worked over the years: free lessons for the newbies they'd be well advised to heed.

Powdr would also be wise to recognize the many fine individuals who are part of the Copper team — people who should not be cast aside when the new owners take over.

In the meantime, Powdr Corp, welcome to Summit County. We look forward to meeting the Powdr team and seeing what it can do with one of our county's crown jewels.

—The Summit Daily Editorial Board consists of Jim Morgan, Alex Miller, Ryan Wondercheck, Matt Sandberg, Morgan Liddick and Howard Hallman.

For information about Summit County Real Estate, go to http://www.breck4sale.com/.

Colorado Ski Season Begins

Yesterday, Loveland Basin, on the eastern edge of the Continental Divide at Interstate 70 opened. It is the earliest opening date in its history. Tomorrow, Arapahoe Basin in Summit County opens.

More snow is in the forecast for the coming weekend, and although it is sad to see the beautiful fall colors give way to snow, it is skiing that has the major influence on real estate values in Summit county.

Breckenridge Government Affrairs Alert

Breckenridge to Again Consider Home Size Limitations

On September 1st, the Breckenridge Planning Commission will revisit whether to limit home sizes in specific Breckenridge subdivisions. The town is concerned about maintaining community character in specific single family neighborhoods. Last spring, the town proposed limiting home sizes based on a specific formula to each subdivision. After holding a number of public work sessions, and hearing out cry from residents, the town appointed a neighborhood preservation task force made up of residents of some of the affected subdivisions to develop a compromise proposal to present to the Planning Commission and Town Council. A number of Realtors were appointed to the task force. The Planning Commission will meet at 7 p.m. in the Council Chambers at 150 Ski Hill Road, Breckenridge.

The proposed policy would apply to those properties in Town which do not have a platted building or disturbance envelope and lie within one of the following subdivisions: Brooks Hill, Breckenridge South, Christie Heights, Gold Flake, Highland Filings 1-4 (only those which do not have platted envelopes), Peaks, Penn Lode, Snowflake, Sunbeam Estates, Sunrise Point, Trafalgar, Trappers Glen, Warriors Mark, Warriors Mark West, Weisshorn, and Yingling & Mickles.

Policy Details: Floor Area Ratio based on individual subdivision characteristics.Applies to above ground square footage only. Does not count above ground square footage for garages up to 900 square feet (typical 3 car garage). Unlimited below ground square footage. Maximum square footage allowance for larger lots. A Floor Area Ratio (F.A.R.) was selected by the Task Force to relate a home size to the lot size. In this case, the F.A.R. would dictate the amount of square footage that can be built, depending on the size of the lot.

Floor Area Ratio (F.A.R.) = Home Square Footage : Lot Size Square Footage

For instance, if a lot is 0.50 acres (21,780 square feet) in the Weisshorn subdivision, the F.A.R. for that particular subdivision is a 1:4 F.A.R. With this proposal, the square footage would apply only to above ground square footage and a 900 square foot garage is exempt. Ultimately, with the proposed policy direction, the property owner would be permitted 5,445 SF above grade home+ 900 SF garage= 6,345 total above ground and unlimited below ground square footage.

For more info, email Susan Gunnin, or call 970-389-0182

Contracts on properties marked as Best Deals in Breckenridge

Since starting the website, BestDealsBreck.com only a couple of weeks ago, six of the properties have already gone under contract. These really are exceptional opportunities for adding to your investment portfolio or for finding a great second home at bargain basement prices.

Check out BestDealsBreck.com, visit my website Breck4Sale.com, or email me.

Susan Gunnin

Best Real Estate Deals in Breckenridge, Colorado

The website,www.BestDealsBreck.com is updated daily with new information about the changing parameters of a list of really good real estate investment opportunities in Breckenridge, Colorado.

To learn more about these opportunities, go to www.Breck4Sale.com and Susan Gunnin will be happy to explain why these listed properties are such good deals.

New Website for Real Estate Deals in Breckenridge

In markets like the current one, it is not unususal for there to be really good deals in certain pockets of real estate. This is certainly true in Breckenridge, Colorado.

A new website, http://www.BestDealsBreck.com has been created to display such opportunities. It deserves serious consideration by those prepared to act quickly since good deals do not stay on the market for long.

Check it out.

Earnings down, but pass sales up for Vail Resorts

Bob Berwin reports in the June 5, 2009, issue of the Summit Daily News:

Execs hope pass sales will spur visits next season.

Season pass sales and usage continues to be bright spots for Vail Resorts at the end of a challenging season.

In spite of a 20.9 percent drop in bottom line earnings, advance season pass sales for next year are up 37 percent from last year. This revenue is quickly growing into a larger slice of the company's overall revenue picture, from 26 percent in the 2007-8 ski season, to 34 percent for the 2008-9 season.

Total skier visits were down about 5.3 percent for the 2008-9 season. Destination guests made up 57 percent of Vail Resort's total visitation, compared with 63 percent last season. Visits by non-season pass holders dropped by 22 percent.

These results were impacted by the continued severe downturn in the economy.

On the real estate side, Vail Resorts reported revenues of $9.4 million for the third quarter of 2009, compared to $54.5 million for the same quarter last year, resulting in a $4.7 million loss.

The company's operating expenses were down $12.8 million, or 8.1 percent compared to last year. Forest service and credit card fees were down along with labor costs which resulted from a company-wide wage cut implemented in April, 2008.

Lodging revenue was up 3 percent for the third quarter, mainly from revenue generated by Colorado Mountain Express, a recent acquisition of Vail Resorts. But overall lodging revenue was down 26.9 percent. Lodging deals helped drive skier visists, but also pushed down average room rates.

Rob Katz, CEO for Vail Resorts, said he thinks advance sales of season passes for next year will create momentum going into the 2009-10 season.

For information about real estate opportunities in Breckenridge, contact Susan Gunnin, or visit www.breck4sale.com.

Village at Breckenridge plans $19 million expansion

As reported in the Summit Daily News, February 28, 2009, by Robert Allen, homeowners of the iconic, 'Seventies-type feel' Village at Breckenridge have approved a $19 million refurbishment to begin in 2010. In need of an update, the homeowner's association general manager commented that "it was running second for the ugly award in town". [No report on what is first!!]

The buildings will get new roofs, decks, windows, railings, and the skins of the five buildings will be improved. The theme will be 'mountain elegance with historic features', and the existing Plaza III building will have a clock atop the elevator shaft. The ground level will be transformed so it will look like a village.

The Village includes some 235 residential and 28 commercial units. The residences range from 386 square feet to 1,800 square feet. The project will cost property owners an average of $76 per square foot.

Reports of possible 15 to 20 percent lower labor and construction costs, due to the national economic slump, and probable lower loan rates make the project feasable at this time. The price could actually come in at less than $19 million.

Project construction is to begin in April, 2010 and be complete in eight months. All five buildings will be improved simultaneously.

The HOA voted overwhelmingly to go forward on January 31, 2009. It is expected to go out to bid in April.

The project is hoped to make the Village area more vibrant, attracting more restaurants such as Teddeo's Italian Restaurant which recently moved to on of the Village buildings.

Improvements to the central deck area have been considered, but aren't included in the project price.

For more information about the Village, contact Susan Gunnin.

Breck home-size policy to be decided through consensus

Council takes heat for preservation proposal

Robert Allen of the Summit Daily News reported February 13th, 2009, that although Breckenridge officials want to restrict home size to preserve neighborhood character, a task force should be created aimed at finding a consensus.

Last week, the town hosted two open-house meetings with residents from about 25 Breckenridge neighborhoods. In both meeting, most shared the view that maintaining the size and scale of homes in their neighborhood was important. But a wide majority disagreed with the town's proposal of capping the maximum home size at 80 percent of the average, current home sizes.

What is intended is to avoid the situation where a 10,000 square foot home is built amid homes averaging, say 4,000 square feet.

Some meeting attendees felt that people who want to build such a 10,000 square foot home would simply take their plans -- and potential tax dollars -- elsewhere. Others pointed out that a design-based, rather than size-based, approach could better fit with what neighborhoods want. Many said they'd prefer to have the policy address specific subdivisions rather than the town overall. Maybe this is more an issue for the historic district than for outlying areas.

Town mayor John Warner concluded the work session by suggesting a task force of stakeholders such as a real estate agent, a home builder, a member of the town staff and others to "create a menu of options" for future discussion. Such a task force will be assembled to convene sometime soon regarding a neighborhood preservation policy. The policy would apply to homes in neighborhoods without platted building envelopes. Single-family homes and some duplexes are the only structures with no square-footage limits in the town's current development code.

For more information, contact Susan Gunnin, or go to www.breck4sale.com.

Town of Blue River approves sewer annexation

A Summit Daily News article by Robert Allen on February 4, 2009, reports that the Town of Blue River (about 2 miles south of Breckenridge) voted to be annexed by the Upper Blue Sanitation District. Gradually over time, the approximately 680 residents of Blue River will have the option of replacing existing septic systems with sewer service.

This news is interesting in that, historically, the town has voted against any potential intrusion into the town's "rural character". But it appears the advantages of sewer service outweighed these concerns.

Residents won't be required to connect to the sewer until their current [septic] systems fail, and then would only be required to connect if they were within 400 feet of a sewer main.

Construction will begin at the south end of town but probably not for another year and a half. The South Blue River Treatment Facility next to the Eldorado Subdivision is planned to serve the entire town.

Presently, most of the town's residents use septic systems. The threat of failing systems, the expense of replacing them, and the gradually increasing population density affected the outcome of the election.

The Upper Blue Sanitation District was formerly known as the Breckenridge Sanitation District.

If you want to learn more about how this might affect real estate in the Blue River area, contact Susan Gunnin