The Market is Moving at a Gallop

Champagne powder rules in Steamboat Historic Downtown Marabou Ranch

Steamboat Springs’ landscape is dramatically changing from ranching and skiing mecca to year-round living.  New development, from mixed-use projects to large ranch subdivisions, sets it apart from other ski towns in Colorado. “Steamboat is in the midst of a face lift;  capital improvements, sustainable building and the purchase of the mountain and base area have launched Steamboat Springs into its current construction boom,” says Sandy Evans-Hall, Executive Vice President of the Steamboat Springs Chamber Resort Association.

As a 22-year veteran of the chamber, Evans-Hall notes that Steamboat Springs, whose facade and infrastructure were a bit antiquated in comparison to other ski towns along the I-70 corridor, is  building itself back up to a premiere resort destination and primary residence for many. Routt County, encompassing Steamboat Springs and the communities of Stagecoach, Oak Creek, Clark, Hayden and Yampa, is home to 15,000-20,000 residents. At the lowest price point for real estate in comparison to other top-tier Colorado mountain towns, Steamboat is beginning to attract a larger residential base to the small-town flavor of this once ranching community.

Although some say the demand for land, condos and ranches in Steamboat Springs has not reached its peak, the number of new developments entering the market might have buyers thinking otherwise. According to an August story in the Steamboat  Pilot & Today, sales of homes valued at $1 million or more have doubled in Routt County in the first two quarters of 2007. The Steamboat Springs Multiple Listing Service has seen a 21-percent overall rise in closings for this same time period. According to Doug Labor, editor of the Steamboat Real Estate Analyst & Newsletter and broker/owner of the Buyer’s Resource Real Estate of Steamboat, “Steamboat is still one of the most affordable of the big ski communities, and with the recent investments into the base of the ski mountain, Steamboat is turning heads.”

The reason for Steamboat’s explosion in development can be attributed to numerous land and business exchanges in recent years; Intrawest purchased the mountain, two large parcels adjacent to the ski area the Sheraton and Ski Time Square—were sold, and the development of Wildhorse Meadows sent a ripple effect across the county. Multiple levels of housing are able to flourish in Steamboat Springs, from condos to ranch property, all are available for potential buyers. “Basically, Steamboat has been discovered. Baby boomers, first-time homebuyers, second homeowners, retirees and others want in on the friendliness and humility of Steamboat,” adds Mitch Clementson, owner and broker of Steamboat Real Estate, Inc. Read on about some of the following available developments.

Alpine Mountain Ranch & Club
Located five minutes from downtown Steamboat Springs, just south of Mt. Werner, the ranch occupies 1,216 acres and offers 63 homesites with five-acre lots. More than 900 acres within the ranch are dedicated to open space, which is home to a large elk herd and agricultural and wildlife preservation. Homesites start at $1.3 million and include access to a fully-equipped lodge reserved for owners and their guests. Other amenities of Alpine Mountain Ranch & Club are a fishing lake, fitness and pool center, barn, equestrian center, miles of private hiking and biking trails, and guest cabins. alpinemountainranchsteamboat.com

One Steamboat Place
This multiphase development at the base of the ski mountain has a variety of ownership packages. Whole-ownership residences range in size from 2,500 to 4,700 square feet, cost between $2.5 and $4.7 million, and come with an added bonus of gourmet kitchens where homeowners can receive personal cooking lessons from renowned visiting chefs. The multiple ownership interests are bought into by various parties in 1/8 deeded undivided interests ranging in price from $625,000 to $730,000. Membership with the multiple ownership package includes access to Catamount Ranch & Club, which includes a 530-acre private lake for waterskiing, kayaking and fly-fishing and a Tom Weiskopf championship course for exhilarating golf in an unmatched landscape. onesteamboatplace.com

Wildhorse Meadows
Steamboat’s first master-planned residential resort community is now six months into construction. The 47-acre site is located between the base of the ski mountain and downtown Steamboat Springs and will be connected by a gondola. The Wildhorse community offers custom homesites, townhomes and mountain lofts for purchase that will include amenities such as a fitness facility, pools, grotto hot tubs and a children’s lounge. Their centrally located Trailhead Lodge will house fully furnished studio, one- two- and three-bedroom properties ranging in price from $430,000 to $2.25 million. wildhorsemeadows.com
 
Marabou
Situated on 1,717 acres of ranch land and open space 10 minutes from downtown Steamboat Springs, Marabou offers 62 homesteads on seven-acre parcels of land; prices begin at $2.8 million. Marabou is also one of the first green models for agricultural ranch operations; a herd of grass-fed cattle live on the ranch and hormone-and antibiotic-free beef are also part of the homestead ownership. All the Marabou buildings have achieved a Built Green® average of 144 points (the minimum requirement is 75 points) and the property has undergone 2.5 miles of massive river restoration. The working ranch incorporates a master guide program, allowing owners access to expert skiers, fly-fishers, wranglers and more as part of the lifestyle on property. More than 22 miles of trails and access to Elk River, Marabou Ponds and Meadow Meander  place Marabou at the top of high-end natural living. marabouranch.com