Breckenridge Real Estate Climbs to Great New Heights

By: Kelli Bennett

The pristine alpine environment that gives Breckenridge, Colorado its breath-taking scenery will soon be home to an equally spectacular residential development, the latest addition to this magnificent mountain village. Interested parties will have to act fast: Peak 7's Crystal Peak Lodge has already sold all 46 units, at a price of $928/square foot; the Lodge is slated for completion by December 2008. But fear not, as some of the biggest plans are for Peak 8, the main base of the ski area.

Plans for development on Peak 8 include six or seven medium height (three to five stories) multi-purpose buildings. Ground floor space is dedicated to services for residents - restaurants and boutiques, shops and cafes. The upper floors will, of course, be filled with a range fo condos, from studios to luxurious four bedroom homes. All in all there will be 325,000 square feet of residential space, as well as 14,000 square feet of commercial space, and a whopping 48,000 dedicated to services for skiers. This is the sort of project that Breckenridge has been waiting for.

According to Alex Iskenderian, Vice President of Development, the real estate climate in Breckenridge is finally at the point where developers are able to build the buildings they have always wanted. Hinting, perhaps, at even greater things to come, Iskenderian noted, I think this is going to take the market to the next level." Prospective buyers take note.

An indication of the grandeur to be expected of this new Peak 8 development is to be found in the project's centerpiece, simply titled, "801". This building will include no less than 90 ski-in, ski-out residences, ranging in size form studios to four bedrooms. 801 amenities will include a large yet elegant conference space, extensive fitness and aquatic facilities, a bowling alley, and a media room. Construction is scheduled to start in May of 2008. Some have expressed concerns that the splendour of this project will overshadow the rest of the town, but developers contend that Peak 8 will enhance both business and real estate in Breckenridge.

Developers realize that the success of their project depends on the continued success of Breckenridge as a whole. Lucy Kay, Chief Operating Officer for Breckenridge Ski Resort realizes that client satisfaction impacts how businesses operate. The people of Breckenridge must be doing something right: in 2006 Breckenridge played host to more visitors than ever before.

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