Waterfront property in the Colorado mountains is as treasured as ski-in, ski-out properties, Jeff Moore tells clients, house hunting in Breckenridge and other mountain resort communities.
“Frankly, true waterfront property is even more rare than ski-in, ski-out properties,” said Moore, a managing partner with broker with Slifer, Smith & Frampton Real Estate.
Moore is listing the Shores at Breckenridge, one of the few development in the mountains that has homes built along the water.
The Shores at Breckenridge, formerly known as Fairmont Residences on the River, is a 10-acre housing community on the Blue River, about 2.5 miles north of the Town of Breckenridge.
The Shores at Breckenridge is being developed by the Meriwether Cos., which is based in Boulder and Los Angeles, and San Diego-based Pathfinder Partners.
Meriwether and Pathfinders acquired 20 lots in the development last June. Each lot is entitled for two, 2,500-square-foot duplexes for a total of 40 homes. The original developer, Mesa Development, sold 16 homes between 2007 and 2013.
“The downturn hit and things pretty much came to a halt in the mountains,” according to Moore.
The new owners are stepping in at a time when there is a shortage of housing in Breckenridge, Moore said.
“We have a real constraint on inventory in an environment when demand has picked up substantially,” according to the broker.
“Nothing was built during the downturn and now we are just starting to see some of these developments, like the Shores at Breckenridge, starting to move forward,” Moore said.
Noah Hahn, a partner at Meriwether, agrees.
“We felt the timing was right to get the Shores back on track and focus on re-envisioning and rebranding this prime piece of mountain real estate,” Hahn said.
“The second-home market has shown a marked comeback in the past year,” Hahn continued.
“We think these residences will appeal to buyers looking for the mountain lifestyle and a style of home with more privacy than a traditional condominium community,” Hahn added.
The first six homes by the new owners are expected to be delivered in June.
The homes range in size from 2,300 square feet to 2,669 square feet. Homes have three or four bedrooms and 3.5 baths. The pre-sale prices range $965,000 to $1.625 million.
“When we acquired the property, we immediately made significant capital improvements to bring it up to our standards,” Hahn said.
“We looked at the designs and finishes and took them up a notch,” Hahn continued. “Today’s buyer wants both great finishes and great floor plans that are set up for families and multigenerational users.”
In Breckenridge, about 50 percent of the buyers are from the Front Range, according to Moore.
“The Front Range is by far where most of our buyers come from,” Moore said.
At the Shores, he also expects a fair number of buyers to be coming from either bigger or smaller homes in Breckenridge.
“Now is a good time to be selling your home in Breckenridge, because there is such a shortage of homes available,” Moore said.
“Last week, I was showing a home at the Shores to a guy who is thinking of downsizing from a much bigger single-family home in Breckenridge, into a 2,500-square-foot home,” Moore said.
Front Range buyers, especially, like the location of the Shores at Breckenridge, he said.
“One of the things that the Shores has going for it is that it is north of Breckenridge; the premium sites now seem to be north of the town. If you are driving in from Denver, you don’t have to drive all the way into the actual town of Breckenridge.”
Still, the town of Breckenridge is only a five-minute drive away. It also can be reached about as quickly by bike.
“You’ve got a bike path out your door that can take you for hundreds of miles,” Moore said.
The Shores at Breckenridge also is across the street from a 27-acre Jack Nicklaus designed golf course.
“In some ways is is nicer that the Shores is not a golf club community; you don’t find golf balls in your yard,” Moore said. But what really distinguishes the Shores is its setting on the water.
In Moore’s opinion, the absolute prized home is also the most expensive in the Shores at Breckenridge.
That is because it is being built on the banks of the Blue River.
“Just listening to the river flow is its own special melody,” Moore said. “It really is the nicest, closest river frontage I have seen in my 21 years selling real estate up here. It is pretty special.”
Interested in buying a home in Breckenridge? Please visit COhomefinder.com.
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