One Steamboat Place Update

Word is that One Steamboat Place may have a new owner soon.  I haven't been able to verify this yet but it comes from two credible sources.  Find out more on One Steamboat Place here.

One Steamboat Place Foreclosure Update 5-11-11

  Just a quick update that I continue to hear from knowledgeable sources that negotiations are looking promising between the banks and Timbers Resorts.  Hopefully this will result in a quick resolution of the One Steamboat Place Foreclosure (more details at this link). Once the negotiations are complete and we see how much the debt is adjusted we will be able to see what makes sense given what it tells us about the stability of One Steamboat Place and where pricing settles.  It is an excellent building in an irreplaceable location next to the gondola but it needs to be stable and priced well.

  I follow One Steamboat Place very closely and have insights / contacts that can help you make a more informed decision than you can find elsewhere.  An independent and informed broker can make a big difference for you.  My goal is to help you make the best possible decision based on better insights.

  If you have interest in tracking what is going on at One Steamboat Place or possibly buying there please contact me. I can give you very informed perspectives on the current status of the project and what makes sense price wise or just keep you up to date with more than I share on the web as things develop. My cell is 970-819-6930 or email me at jon@TheSteamboatGroup.com.



 You can search the Steamboat MLS via IDX or learn more about Steamboat CO Real Estate at the included links.

One Steamboat Place Opens

One Steamboat Place officially opened for guests yesterday. The long awaited opening date, brought with it about 14-15 guests and a fantastic new staff. In addition to the guests and owners coming through One Steamboat Place, 34 Summit Club memberships have been acquired as of today. The Summit Club ‘memberships entitle members who don’t own real estate at One Steamboat Place to use amenities including the spa and ski lockers.’ 'Amenities include a 10-treatment room Spa, fitness and motion studio, a heated outdoor pool and trio of Jacuzzis, daily housekeeping, 24-hour concierge service and an Owners’ wine cellar. One Steamboat Place will also be home to Steamboat Springs’ newest dining hot spot, The Truffle Pig.' Sure to be a great addition for the rest of this year and winters to come!

Opening Day in Less than 1 Week

With One Steamboat Place scheduled to be open in less than one week, January 9th, the finishing touches are now all that is left. I took a tour last week and was quite impressed with their attention to detail, and the beauty and flow of the overall development. To see some of the pictures that i took take a look at them posted on Steamboat Homes Blog

New Walkway Designed to Highlight Olympic Athletes

A newly designed walkway is scheduled to be built along Yampa Street to highlight the accomplishments of Steamboats past Olympians. This the creation of a Walk of Olympians, a series of 18-by-18-inch bronze plaques to be placed along the Yampa Street sidewalk to honor the 80-plus Olympic athletes who grew up in Steamboat Springs, live here now, or were members of the Steamboat Springs Winter Sports Club."

"The bronze plaques will include two images of each athlete — a portrait and action shot. The plaques also will include the events and years of each athlete’s Olympic appearances and the plaque sponsor’s name."

For more information or to become a sponsor, call Jon Wade at 970-819-6930 or e-mail jon@mybrokers.com.

Denver Magazine Discusses One Steamboat Place

A recent Denver Magazine article discusses the improvements One Steamboat Place intendeds to bring to the base area. While a recently published article, the author, Dana Butler, actually visited One Steamboat Place this past summer. Her description of One Steamboat Place is primarily on the specs. She states, "One Steamboat Place is part of the Timbers Collection, which includes properties in such far-flung locales as Napa Valley, St. Thomas, and Northern Italy. Its 80 residences are located at the gondola in the heart of Mountain Village, close to the action. They are broken down into 38 whole ownership residences — of which only two were still available at press time — and 42 homes designated as one-eighth and one-twelfth interests." Great to see more exposure for One Steamboat Place.

One Steamboat Place sees more closings

One Steamboat Place has recorded a few more early closings. It is good to that people are continuing to commit significant resources to owning in Steamboat despite all that transpired over the past couple of years. I have seen my clients remain interest when the situation is right for them beyond what the overall market has done and we are seeing more people do the same as things recover. I wrote quite a bit more on these closings that you can see on my main Steamboat blog including a link to today's Steamboat Pilot article since I started there but thought I would add a different theme that I have been seeing here.

Basically what I continue to hear from buyers is that given this economy it will be quite a while before anything new is built at the base beyond One Steamboat Place and Edgemont, they either say this or ask what I think. Given that and their desire to spend more time in Steamboat they see wisdom in going forward now not only while they can have what they want but more importantly more of their family's best years to enjoy them that they would have fewer of if they wait. Looking back in recent Steamboat history this could also prove out to be a good idea from a supply perspective since once these units are gone it will likely be 3-5 years until more is built. Back in 2005 and 2006 we had a moratorium on new developments at the base area as new design standards were worked out which restricted supply in a similar manner and drove prices up.

To be clear I am not saying that it will be a home run in the 1-3 year timeframe to purchase these price wise but with a 3-5 year perspective that the wise have in most investments and the priceless nature of more memories with your family most scenarios can look pretty good. Is that the case for you? It's hard to say without knowing your goals and situation but I can help you understand all that is going on in Steamboat so you can make a good decision for yourself either way. Give me a call at 970-819-6930 if you would like to talk. I am a low key guy and always happy to share what I know.

One Steamboat Place's first closing!

The first closing at One Steamboat Place is complete! It was a penthouse unit for well north of $4.5m. Good to see them moving forward but no surprise since it is an excellent product. Let me know if you have any questions on One Steamboat Place pricing and how it compares to the market. It is not the most expensive luxury condo at the base of Steamboat and can be considered a good value for the location and quality of experience it provides.

One Steamboat Place Plaza Opening with Mt. Werner

One Steamboat Place is looking to show the positive changes they are adding to the base area on opening day. While One Steamboat Place is not planning to be fully open until January 9, the exterior work, including landscaping, is ahead of schedule. In addition to the plaza area being finished, "the Steamboat Ski & Snowboard School ticket office, the relocated Surefoot ski boot and fitting shop and a new independent ski shop will be open for business the day the ski area opens." The base will continue to improve as the snow piles up and the winter continues. After the opening of OSP on Jan 9th, the new Wildhorse Gondola will become operational in February. Having completed the plaza area with the opening mountain will hopefully encourage skiers an riders to take full advantage of the new space and facilities from the beginning, and use of One Steamboat Place as a gathering and shopping spot will become second nature.

One Steamboat Place Gaining More Recognition for Improvements to Base Area

"Touring the New Base Area Developments

One Steamboat Place is gaining more recognition for the improvements that the development is looking to add to the base area. The pictures in the link above do a great job of displaying the new terrace, ski school offices, and the location and convenience of the new Wildhorse Gondola. One Steamboat Place is looking to not only add a luxury community to the base area, but also improve the structure and the overall flow of the base area. Take a look for yourself at the pictures above!

Pictures from Sample Unit

The sample unit above was finished in mid-February of the past year. With One Steamboat Place nearing closer to its finish, I hope these pictures get you excited about the quality and design of this new ski-in/ski-out development. The unit pictured above is a three bedroom 3 bath condo and designed with OSP's standard furnishings for fractional units. With only 2 whole ownership units left and only about 20% of the fractional units left, One Steamboat Place has generated excitement for their fantastic location and luxurious accommodations. If you are interested in enjoying the accommodations, One Steamboat Place is offering 50 social memberships at this time. With a social membership you will be able to enjoy all the same facilities and accommodations as unit owners. This gives you access to their fitness facilities, spa, pool, wine-cellar, parking garage, ski-lockers and the staff and concierge service. When these facilities become completed I will update you with pictures highlighting each of these accommodations, so check back! For more information on One Steamboat Place or social memberships, you can contact me at 970-819-6930 or email at jon@mybrokers.com

Simulation of One Steamboat Place

The video below is a great new simulation of what the One Steamboat Place will look like upon its completion this winter. Using both images and a computer generated video, this clip shows off the exterior features and One Steamboat Place's seamless integration with the current Ski Time Square. Check it out for yourself below:

One Steamboat Place Facilities Acknowledged for Improvement to Base Area

In a recent article describing the base area development, Onthesnow.com, features the outstanding facilities and amenities One Steamboat Place will contribute to the base of Mt. Werner. Part of the new development will include a "new base-area first aid facility, in partnership with the local hospital...Skiers can get medical aid from ski patrol, as well as transport services." They also comment on the inclusion of a new Ski & Snowboard School ticket office that is now located on the first floor of One Steamboat Place. "It's 3,800 square feet, one-stop, and hassle-free." Great to see the benefits that One Steamboat Place hopes to offer the entire mountain community are being highlighted!

Steamboat Ranked Top 10 Resort!

Steamboat once again ranked well in the Ski Magazine Reader Resort Survey, this year finishing ranked as 10th best resort. A very encouraging and great statistic knowing these rankings are derived from the skiers and snowboarders who visit our mountain. Steamboat also did well in the sub-categories, boasting high rankings in 5:

• 1 in Family Program
• 8th best Snow
  
• 9th nicest Lodging
  
• 10th best Dining
  
• 10th best Terrain Park

These numbers represent things that many locals have known and loved about Steamboat Springs for many years. The Champagne powder snow, trademarked long ago, is loved by everyone who gets the chance to experience it. You will always remember the abundant, fluffy powder your skis never stick to. It is also great to see downtown recognized for their dining. For a great reference to a local restaurant guide check out bestofsteamboat.com.

With the new lodges, condominiums, and developments Steamboat has crept up onto the best lodging list as well. I am confident with the new improvements to Gondola Square and the new developments around town this ranking should only improve with time.

Ranking #1 in family programs is a great reflection from how you and your family view Steamboat Resort. Youth, Children and Teen ski lessons are a main the focus of the resort. Along with great family ski programs, many off-mountain activities focus on helping bring your family together to best enjoy your time together away from home.

One Steamboat Place Gets Closer to Finish

One Steamboat Place is coming closer to completion with each passing day. The dismantling and removal of the cranes along with half of the scaffolding, is a significant milestone in the completion of the development. The mountain skyline is now empty of the two cranes, which stood at 160 and 200 ft respectively. With the structural work coming to a close, the 375 workers who have previously spent a majority of their time outdoors are now moving inside. Their focus is shifting towards the amenities and facilities that define One Steamboat Place as the luxury condo. The Steamboat Pilot describes the change as encouraging for the "500,000-square-foot One Steamboat Place, which is [still] on pace for completion in December." An encouraging note!

Model Unit Completed

The hammers and saws continue their work throughout One Steamboat Place, but one unit is complete and ready to be shown to the public. Designed to showcase the future structure and set-up of the condominiums, the unit was fully furnished. Beautiful paintings of downtown Steamboat decorate the walls and the furniture and many appliances are in place. David Burden, the developer describes the design of the unit as being "calculated to put a contemporary spin on a condominium home that feels like it belongs in the West." The 2,500 sq ft unit, successfully captures this ideal feeling through their careful selection of chic, wood furniture and powerful, but classy interior design. The Steamboat Pilot finishes stating that for those interested "tours of the model unit are available by appointment through the One Steamboat Place sales center."

Future for One Steamboat Place Looking Very Positive

Detailed in a recent Steamboat Pilot article, the financial future of One Steamboat Place is described as stable and looking very positive. According to The Pilot the developers view the unprecedented location as main contributing factors to the condominiums current success in a difficult marketplace. Currently, 36 of the 38 whole-ownership units have been sold, and 148 of the 178 fractional units have been placed under contract. The fractionals available are divided into different categories, either one-eighth or one-twelfth options.

The completion of an entire unit is scheduled for mid-February of 2009. This will allow those interested in becoming a part of One Steamboat Place the opportunity to physically see a furnished unit and experience the feeling this luxury condominium exudes. Along with the completion of a furnished unit, the developers are attempting to begin streaming on-line video progress reports to allow buyers to follow the fast-paced development.

1-year from completion, OSP offers tours of facility

While the first guests will not arrive for another year, One Steamboat Place recently offered tours to demonstrate the progress made within the development. The majority of the facilities were left up to the imagination of those following along, but the structural accomplishments and the space for the intended accommodations were impressive enough. The Steamboat Pilot illustrates the feeling well describing how "in the midst of a recent tour of the building, [David] Burden gestures upward and casually remarks, 'We’re walking directly underneath the swimming pool right now. That’s 1 million pounds of steel and concrete above our heads, and we’re in a parking garage that’s underneath it.”

Along the tour David Burden, the developer, wanted to emphasize that One Steamboat Place is not an inclusive, separate development, but how OSP will integrate itself within Gondola Square. The building layout enhances not only the experience for guests, but also hopes to benefit the community. "When One Steamboat Place finally opens, pedestrians will make use of a new pathway through the giant condominium project, passing underneath a glass-walled bridge to emerge into the sunlight at the base of the ski trails." One Steamboat Place also intends to be a location for the ski-school offices next winter, further bridging the gap between the mountain and surrounding communities.

Ski Magazine

Looking at my copy of Ski Magazine this month I was excited to and see an article detailing personal accounts of real-estate experiences in Steamboat. Featured first in the article is a story about a couple who was interested in spending a few weeks vacation in Steamboat every year. One Steamboat Place offers both whole and part-time ownership, allowing people different options when looking to invest in a second home. The part ownership with One Steamboat Place gives owners all the benefits and facilities, but is a great option for those only seeking a few weeks of vacation. The couple in the article is quoted saying "One Steamboat [Place] will be the only property with such close access to the hill, so the relative value is huge." It is great to hear people getting excited about this chance to become involved in a luxury ski-in/ski-out development.

#5 Up and Coming Developments

Joining new communities from Paradise Valley, AZ and Revelstoke, B.C., One Steamboat Place was recently named the #5 up and coming developments in Mountain Living Magazine. Recognized not only in Steamboat, but across the country for the luxury in accommodations and its location, the completion of One Steamboat Place is a highly anticipated event. The spa, wine cellar, fantastic staff and service, along with membership to the Catamount Club are a few of the luxury amenities highlighted. The article describes the desire the developers have to establish a residence that a exudes 'mountain chic' style, blending the contemporary with the old mountain west.

One Steamboat Place Renderings

Progress on Affordable housing plan

The Timbers Company is one step closer to meeting their community housing requirements. It has been in the works for a while now but they have partnered with The team behind the Wild Horse Meadows development to built out their affordable housing requirements in Wild Horse Meadows in front of the Steamboat Tennis Center. The city must still approve this plan for One Steamboat Place to begin construction on time this summer. This plan provides the right number of units but City council still needs to better define the requirements for the location of the units inside or outside of One Steamboat Place vs. in the Mountain area.

When One Steamboat Place is approved it is expected to take a little less than 2 years to complete and it will include the construction of a new landing area for the gondola from Wild Horse Meadows and an approx. 1 acre public plaza that connects around to gondola square.

Timbers post to split up

Timbers Resorts Unveils One Steamboat Place at the Gondola in Steamboat Springs, Colorado

CARBONDALE, Colo., Jan. 8 PRNewswire — Timbers Resorts (previously known as Timbers Company) and SV Capital is pleased to announce the approval of their newest luxury development, One Steamboat Place, a ski-in/ski-out destination in Steamboat Springs, Colorado. The development will be the cornerstone for the re-development of this world-class ski destination, ideal for owners seeking an authentic mountain lifestyle to share with friends and family in a year-round destination. One Steamboat Place will include residences available in whole and partner interests ranging from $450,000 to $4.5 million. Reservations for residences are currently being taken.

Its coveted location at the base of the mountain provides easy access to an endless array of world-class activities spanning the four seasons. As with all Timbers Resorts properties, members will receive all of the amenities and services they could ever need for a truly rewarding experience. One Steamboat Place will be an extraordinary family destination where lifetime memories are made.

"We are excited to be a part of a town that still values western charm and gracious hospitality," says David Burden, Timbers Resorts founder. "One Steamboat Place will redefine luxury ski-in/ski-out communities, while offering four-season discovery."

Location

Known as "Ski Town, USA" Steamboat Springs, Colorado is a quaint community, famous for its old west feel. Steamboat Springs offers genuine western charm at its best — a characteristic that truly sets it apart from other ski towns. Located at the base of one of North America's biggest mountains and less than a two and a half-hour drive from Denver, the town has adopted modern amenities while holding onto its small town feel, making it a desired vacation destination in both winter and summer, and the seasons in- between. Steamboat Springs has a wide selection of activities to keep even the most discerning visitors happy, including fly fishing, kayaking, horse back riding, snowshoeing, golf, hot springs tours, back country skiing and of course, downhill skiing on famous Steamboat Springs champagne powder snow.

Whole-Ownership Residences

One Steamboat Place offers slope side ease yet never-ending views of lush rolling hills and mountain terrain and is currently offering a selection of whole-ownership residences ranging in size from 2,500 to 4,700 square-feet. The luxury penthouse residences exude contemporary elegance and are being crafted with meticulous attention to detail, taking into consideration the surrounding natural beauty. Special pleasures include gourmet-equipped kitchens where homeowners can receive personal cooking lessons from renowned chefs visiting from other signature developments of the Timbers Resorts such as in Tuscany and Mexico. Penthouse residences are available for those seeking an expansive top-floor view and more living space. Reservations for residences are now being taken. Prices range from $2.7 million to $4.5 million.

Residential Partner Interests

The residential partner interests at One Steamboat Place will feature four-bedroom slope side residences with luxurious living space. Each exquisitely furnished residence will be the perfect blend of elegance and convenience with top quality appointments throughout. The residences will be offered in undivided interests. Each purchaser of a residential partner interest at One Steamboat Place will also have a membership in the exclusive Catamount Ranch & Club, a premier members-only club celebrating the best of the Colorado high country. Catamount Ranch offers a multitude of amenities and activities throughout the four seasons, including a 530-acre private lake for waterskiing, kayaking, fly fishing, hiking and a Tom Weiskopf championship golf course for exhilarating golf in an unmatched landscape.

Five Star Amenities

All homeowners at One Steamboat Place will enjoy a wealth of private luxury services and amenities. The ski-in ski-out enclave will offer an expansive plaza and will feature a tranquil zen-inspired spa, fitness and yoga facilities, outdoor pools and built-in grills on each of the villas decks, retail shops and private members' lounge and dining experience. Masterfully crafted lounges will dot One Steamboat Place, encouraging impromptu family gatherings for lively discussions of the day's adventures. A full-service concierge will attend to reservations for dining, ski ambassadors for one-of- a-kind ski tours, special golf and fishing clinics, some specifically for women and other unique activities in the area, ensuring a worry-free experience for all homeowners. A children's concierge will be available to attend to all children-related activities, both on and off-site.

About Timbers Resorts

Founded by developer David Burden, Timbers Resorts has surpassed its competitors by offering a unique combination of equity ownership, vacation- home lifestyle and high-end resort amenities at each of their Timbers Collection properties. Designed for vacationers who want the best in luxury leisure, these properties provide personalized surroundings and services tailored to each resident's tastes and preferences. Timbers Collection properties include The Timbers Club at Snowmass in Aspen, Colorado; Esperanza Resort in Cabo San Lucas, Mexico; The Rocks Luxury Residence Club, in prestigious North Scottsdale, Arizona; Castello di Casole in Tuscany, Italy; The Preserve at Botany Bay in St. Thomas; and the newest, One Steamboat Place in Steamboat Springs, Colorado

One Steamboat Place in Texas Monthly

I noticed this article about One Steamboat Place in Texas Monthly Magazine and thought you might like to see it too. There is quite a bit more happening in Steamboat than most people realize so give me a call at 970-819-6930 if you would like to learn more. I'll help you make the best decision for you or just stay up to date on what is happening.

The über-luxurious One Steamboat Place, a Signature Development of the Timbers Company, will be located at the base of the gondola, the best ski-in/ski-out location in “Ski Town USA,” famous for its champagne powder. One Steamboat Place homeowners will enjoy a wealth of five-star amenities, including membership at the exclusive Catamount Ranch & Club, with its Tom Weiskopf golf course and private lake for fly-fishing and waterskiing. Reservations are being taken for whole-ownership terms in the 26 luxury penthouse residences, which exude contemporary elegance. Prices range from $2.5 million to $4.5 million. Future releases include residential partner interests in four-bedroom residences, from $400,000 to $650,000 for one-eighth shares. Construction starts next spring. One Steamboat Place is a member of the Timbers Collection, a portfolio of luxury properties worldwide.

Robb Report recommends One Steamboat Place

The Robb Report just called One Steamboat Place "an unprecedented opportunity" in their coverage of Steamboat's newest and most exclusive ski in ski out luxury condos. The following comments are quoted from their write up "at the end of the run, right in the heart of Mountain Village, a home pretty much unlike anything Steamboat has ever seen. One Steamboat Place. These are private, luxurious residences with picture perfect perspectives of the mountains and the entire valley... only the magnificent interior appointments rival the views. Along with luxurious finishes including heated bathroom floors and true gourmet kitchens are favorite Timbers touches - great game rooms, member gathering areas and one of the greatest mountain spas anywhere. The location, next to the gondola, is incomparable. With fine dining, room service, boutiques, ski valets... One Steamboat Place, and especially its residences, is an unprecedented opportunity."

If you would like to know more about One Steamboat Place feel free to contact Jon Wade @ 970-819-6930. They recently started to accept reservations in priority order so give me a call if you would like a chance at Steamboat's finest new development at the base of the mountain and right next to the gondola.

See the short article in the Robb Report

One Steamboat Place enters the city planning phase

One Steamboat Place will transform base and be a catalyst to make the base area a destination instead of just a way to head up skiing. Preliminary plans show One Steamboat Place creating 34 whole ownership condos and 42 fractional ownership condos. The developers also propose to build 14 affordable housing units within the project. I personally question how well the timeshares will sell.

Steamboat is a more down to earth market where most people prefer to own all of their home. The Steamboat Grand is going to auction after 5 or so years of selling and they have 35 % of their units left to sell. The city encourages time shares to increase the number of warm beds but filling those beds with owners has been a challenge in Steamboat. I think that being in a new village at the base of the mountain may go a long way towards making those sales and this development team brings the level of quality and marketing to bring in the potential owners these time shares would be right for.

One Steamboat Place will go beyond creating luxury vacation units to establish public improvements that will modernize the ski area base. The planner for the project predicts that "One Steamboat Place will transform the south portion of the Steamboat ski base into a model for 21st century ski base design and provide an entirely new standard for future development projects there,".

From the Steamboat Pilot:

Construction of One Steamboat Place would include new facilities for some of the functions essential to the Steamboat Ski and Resort Corp., including a new ticket office and a new children's ski school entry. At the same time, the developers are asking the city for permission to build taller buildings than the code allows. The result would alter some views of Blacktail Mountain and the Flat Tops to the south.

City Planner Suzanne Bott said the developers' application shows ample evidence that they are working closely with the Ski Corp. I think it's exciting to see them working with the Ski Corp. on these opportunities," Bott said.

The site encompasses 4.3 acres and the gondola parking lot. The primary developer is a Carbondale man -- Jim Wells of SV Timbers Steamboat LLC. Whitney Ward and other owners in Wildhorse Meadows own the land One Steamboat Place would be built on. The Timbers group also has developed The Rocks Luxury Residence Club in Scottsdale, Ariz., and Esperanza in Cabo San Lucas, Mexico.

The plan submitted to the city of Steamboat Springs this month reflects an upper terminal for a people-mover gondola that would deliver skiers and shoppers to Gondola Square from Wildhorse Meadows and the nearby ski area remote parking lot. Bott said the inclusion of the gondola in the development application does not mean it necessarily would be built. The developers say discussions about how to share the cost of the gondola are taking place. Patten said that when built, the people mover would create new energy at the entrance to the ski area and would stimulate new shops and more efficient pedestrian walkways.

Bott said public discussions about One Steamboat Place are apt to lead the community to confront its expectations for the future of the ski area base. "It's a big philosophical leap people are going to have to adjust to," Bott said.