New Development in Breckenridge Peak 7-8

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Breckenridge peak 7-8 New Development

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                          New Developments in Breckenridge Peak 7-8 Project

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Grand Lodge on Peak 7 Breckenridge 

Vail Resorts, a publicly held company out of Vail, Colorado, announced a deal that will expand the home of the ski bunnies this winter by connecting Peak 7 with Peak 8 via a gondola.  They also announced that the gondola stop located at Peak 7 has already begun. 

 

The announcement came on the heels of tree clearing near Cucumber Gulch.  The Gulch is a bit downhill from the current County Road 3, a road that serves as a byway to reach the top of Peak 8.  It also provides access to the town of Breckenridge and Peaks Trail trailhead, a trail that links Frisco to Breckenridge.  Plans call for County Road 3 to be moved through Cucumber Gulch to make way for the gondola.

 

While there are protections in place in the Cucumber Gulch area, developers removed trees during the spring and early summer as it’s the least impactful to the ecosystem – specifically, migrating birds that return to the area each summer.  There will still be plenty of acreage that will not be developed and kept safe and protected for the birds. 

 

“Probably the biggest protection is the fact that we’ve dedicated 56 acres of the gulch to the town as part of the approvals,” Iskenderian said.

 

Once the clearing is completed and the road is moved, utilities will placed to support eventual Breckenridge real estate both commercial and residential, that will form the village at the Peak 7 base.  There is no timetable for the development of the Peak 8 base, but Iskenderian was “optimistic that Peak 8 is going to follow in the footsteps of Peak 7.”

 

A bridge from the town of Breckenridge to the housing area of Peak 7 village broke ground in the summer of 2006 and will be completed before construction of the residential housing is complete. 

 

Grand Timber Development Company, a Summit County real estate developer that builds condominium and time share properties, partnered with Vail Resorts Development Company and will be developing a new hot-spot in Breckenridge at the base of Peak 7.  Nearly 50 wholly owned condos and over 110 unit partial ownership (time share) condos will go up in the area.  Grand Timber is a long term real estate resident of Breckenridge and has had an established presence for more than a decade. 

 

The construction of both the Vail Resorts projects and the Grand Timber plans began in the spring of 2006.  While each development company will work independently, they will be collaborating on the design, colors, etc., to ensure an overall consistency.   “We’re designing this village as one village, and it will be consistently themed,” Iskenderian said.

 

VRDC intends to presale their property beginning in late 2006 and continuing until all the units are sold.  Grand Timber prefers to offer their fractional ownership condos post-completion.  Construction of the units should be completed and the gondola should open at around the same time, probably by Christmas 2006. 

 

Breckenridge Commercial real estate development at the Peak 7 base area will be minimal.  This will help maintain the vitality and profitability of the businesses on Breckenridge’s Main Street area.  The Peak 7 base will host a 4,000 square foot restaurant that will be operated by the resort and an additional 4,000 square foot service center.  The service center will offer lift tickets, equipment rentals and nominal items for purchase. 

 

The main appeal VRDC and Grand Timber developers hope the area will hold is the resort feel in a new location.  Amenities planned by Grand Timber include an elegant spa, an extensive indoor-outdoor pool and hot tub feature and a 2,000 square foot “family fun-center.”  These plans sit well with the Breckenridge Town Council, a group that is very concerned about over-development and saturation levels of area businesses.  The town manager said that the plans “more than meet with the town’s approval.”

 

“In our business model, having a really exceptional amenity package is a key element to the success of the project,” said Mike Dudick, co-owner and developer of Grand Timber.

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