Tuesday, February 08, 2005

2 Key Players Expect Strong 2005 in Mountains, Seaside

Can mountain and seaside villages continue strong growth? Two key developers say yes.

Intrawest of British Columbia and Booth Creek Ski Holdings of Colorado early this week both voiced optimism during financial conference calls about sales for the rest of this year at their real estate "villages."

They include Intrawest's Whistler (BC), Stratton (VT), Sandestin (FL) and Mountain Creek (NJ), along with Booth Creek's Northstar-at-Tahoe (CA).

Booth Creek said the strength of its first phase of condos at the Village at Northstar was so good that the second phase -- with construction starting this spring -- will be offered at "appreciably higher per square foot prices."

Intrawest too said it's doing just fine, thank you. However, the company chose to discount prices at one project at Copper Mountain, Colorado to reduce inventory, and it has lowered its estimate of average sales price of condos in its North American portfolio from $550,000 to $525,000 -- still not exactly shabby.

Down in the Florida panhandle, Intrawest said the resale market is particularly strong at its Sandestin resort.

Bargains? There might be some later this month at Utah's Solitude Mountain Resort near Salt Lake City. Intrawest will be auctioning a bunch of its base condo units Feb. 26.

Labels: ,

Blog Directory - Blogged Free PageRank Checker