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Spruce Peak
Development |
A lot of real estate development is going on in Stowe. As real estate agents, and specifically as Buyer agents we can represent you for any of the properties that are becoming available.
Stowe Mountain Resort, along with their parent company insurance giant AIG, have undertaken a $300 million upgrade at Spruce Peak and the Mount Mansfield ski areas. The largest amount of money is being directed towards building 400 units consisting of condos, private homes, and fractional ownership. There are also major upgrades slated for the ski mountain with new lifts, snowmaking and trails. The project is expected to take 10 years to complete. While there are over 2000 acres at Spruce Peak only 35 acres are going to be developed for residential use. Once this project is complete there will be no more building in the future. All the units will have ski in-ski out convenience.
All residential units are top of the line and will be starting around $350,000 for a studio accommodation and ranging up to $1,600,000. Most of the units are slated to be completed around the beginning of 2007. A number of the "Mountain Cabins" are already near completion the available units have been sold for an average of $1.5 million. Fractional Ownerships will also be available starting at around $290,000. These fractional ownerships will provide 14 days of use in each of the Winter and Summer peak seasons as well as unlimited use in other seasons depending on availability.
June 25, 2005 was the first day of sales for the Spruce Mountain Lodge project. 75% of the units were sold on the first day of sales.
What's at Spruce Peak?
Besides the ski mountain upgrades and high end residential units the following are being built at Spruce Peak.
| Photo info: Spruce Peak Mountain Cabins at Mount Mansfield, Stowe, Vermont. Picture taken June 2005 from Spruce Peak parking lot by Gerald Smith of Red Door Real Estate. Mount Mansfield at Stowe is undergoing a major rejuvenation and upgrades with new ski trails and real estate options. As real estate agents specializing in buyer agency we can show you anything available in the Stowe area. |
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