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copper real estate

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Intrawest made history last weekend with the sale of 140 mountain homes, totalling $53 million US, in seven hours. The company successfully sold-out three buildings, which will form the core of its new village at Copper Mountain Resort, in less than one day. Intrawest says this is the largest ever one-day sale of resort real estate in North America, as well as the first time three village buildings have been launched in the same day. "The success is unprecedented in real estate and resort development," said Gary Raymond, president of Intrawest’s Resort Development Group. "We normally launch one building at a time, but the pent-up demand was so high that we decided to launch the first three buildings in the new village all at once. Our results prove that those who know and love Copper are enthusiastic about our vision for the resort and want to be part of it." The New Village at Copper is just one of a number of villages Intrawest is building at resorts across North America as part of its strategy to transform the resort industry. "A key ingredient in our resort development strategy is the concept of an animated resort village," said Dan Jarvis, Intrawest’s executive vice president and chief financial officer. "We are one of the few companies in North America with the expertise to turn an under-performing resort into a thriving, successful one." More than 300 preferred customers attended the real estate launch of The New Village at Copper in downtown Denver. Buyers made their home selections and signed contracts for the first three buildings in the heart of The New Village: Base One, Mill Club and Crossroads Inn. A fourth building, Tucker Mountain Lodge, will follow. The core of The New Village at Copper, which will include these four new mountain lodges as well as shops, restaurants, social spaces and festival plazas, will be completed simultaneously and ready for occupancy by summer 2000. The vision Intrawest has for Copper Mountain Resort includes a proposed $450 million in improvements over the next five to 10 years. These improvements include more lodging and conference space as well as significant new lift, terrain and skier facility additions on the mountain, a re-designed championship golf course and extensive biking and hiking trails.

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