Monthly Archives: January 2015

By the numbers….

The real estate activity in Tamarack Resort for January 2015 has taken a spike in both transactions and volume. Compared to Q1 of 2014 where the Resort saw three townhomes sales totaling $934,000, one chalet at $357,000 and two vacant lots averaging $152,000, the transactions for January 2015 look very promising for the rest of the 1st quarter, and year for that matter. With 30 days into this new year, the current townhome transactions will yield $1,109,800, while three cottage sales will total $1,058,000, two chalets over $1.1M and over $450,000 in vacant lots. With the first month 2015 producing 11 total transactions and having the capacity to top over $3.7M in sales, Tamarack Resort will have sold over half all of all last year’s volume which reached $6,128,960 in 22 total transactions.

My buyers are purchasing 2nd homes in Tamarack at interest rates from 3.65% to 3.85%.   If you’ve been thinking about buying in a family friendly all-season resort, Tamarack offers outstanding opportunities.  Don’t miss out!

With three 3BR town homes now pending in January, this is the remaining 3BR on the market.  There will be more to come on, but not at this price!  Take advantage now of this turn key, ready to move in town home with mountain views and walking distance to the Tamarack Express Chairlift.   Buyers in Tamarack are locking in at 3.75% interest rates on second homes.  If you’ve been watching the market and waiting, this is your time.

For more details and photos, click on this virtual tour:

Virtual Tour
002_Open Plan

Replay Tamarack-resort

 

Tamarack Resort’s asset manager who  oversees the ski mountain operations and real estate development has expanded their team to include the Canyon’s.  Press Release below:

MINNEAPOLIS, Minn. and PARK CITY, Utah, Jan. 27, 2015 /PRNewswire/ — Varde Partners (“Varde”) and Replay Resorts (“Replay”) announced today that Replay has been selected to act as the master developer for its substantial land holdings in the Canyons Resort area.  Varde is the managing member of TCFC Finance Co LLC (“TCFC”), which owns much of the land comprising the Canyons Ski Resort.

The selection of Replay as master developer is an important step in TCFC’s strategy to assemble a team of mountain resort industry leaders to plan and position the development land for the future.  TCFC’s selection of Replay follows its long-term lease agreement with Vail Resorts in May 2013 for the operation of Canyons Resort.  Replay intends to work collaboratively with TCFC, Vail, and local stakeholders to ensure the real estate vision and master plan is cohesive with Vail’s operating plans for Canyons and enhances the overall guest experience at the resort.

“Replay Resorts brings a team to Canyons that is arguably the most experienced in the mountain resort development industry,” said Tony Iannazzo, Managing Director of Varde.  “Through the selection process it became clear that the Replay team understands the symbiotic relationship between mountain resort operations and real estate development.”

Brian Cejka, Chief Operating Officer of TCFC, said, “the Replay team’s experience at ski resorts such as Whistler Blackcomb and others gives us confidence that Replay will be able to work closely with Vail and all stakeholders to develop a real estate vision and master plan that enriches the guest experience and brings together all that’s great about Canyons.”

Replay also announced today that Gary Raymond, the former CEO of Intrawest Corporation’s development group, and Connie Wynne, former Regional Vice President of Intrawest Placemaking, have joined Replay and will lead the master developer role at Canyons for Replay.  Combined, they have overseen the acquisition, master planning, and development of over 25 resorts in the United States, Mexico, Canada, Europe, and New Zealand and have been responsible for developing more than 10,000 condo hotel units, 4,000 resort condominiums, and 1 million square feet of resort commercial space.

“Over our careers we have spent a tremendous amount of time in the Utah market analyzing various mountain development opportunities,” said Gary Raymond, Managing Director of Replay Resorts. “We believe the Park City area to be the best mountain resort opportunity in the world and Vail’s recent announcement regarding the connection of Canyons to Park City Mountain Resort makes this the most exciting place to be in the ski industry.  We look forward to working with TCFC and all stakeholders on developing the vision and master plan for the real estate at Canyons.”

“We couldn’t be more pleased to have this opportunity,” said Michael Coyle, CEO of Replay Resorts. “This role brings us back to our roots and leverages our team’s history and expertise in developing some of the most iconic destination mountain resorts in the U.S., Canada and Europe.  We believe this area is evolving to be the most sought after ski destination in North America and with easy proximity to an international airport, this is where the world will come to play.”

Replay will assume its role immediately and will report and act as an advisor to TCFC’s management team and Executive Committee.

About Varde

Varde partners is a $9.0 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, residential mortgages, specialty finance, transportation and infrastructure. Founded in 1993 Varde employs 200 people with offices in Minneapolis, London and Singapore.

About Replay

Replay Resorts is a fully integrated destination development company headquartered in Vancouver, B.C. Canada with a presence in the Continental United States, Hawaii, Mexico and the Caribbean. Replay’s team of strategists, planners, designers, builders and operators develop and operate authentic, enduring places that, because of their strong appeal, become must-visit destinations for guests and potential real estate purchasers alike. Working with visionary private equity firms, landowners, municipalities, other developers and families with legacy holdings, Replay creates places that the marketplace thinks of first and likes best, which in turn enhances the market awareness and economics of the destination. Replay’s leadership team is comprised of the former founder and key senior executives of Intrawest where they built one of the resort industry’s greatest success stories. For more information visit www.replayresorts.com.

About TCFC

TCFC is the master developer and primary property owner at Canyons Resort.  In addition to the ongoing management of the Waldorf Astoria Park City, TCFC was instrumental in completing the Canyons Resort Golf course in the fall of 2014 and long term planning of the real estate development future of Canyons Resort. TCFC’s holdings include over 4 million square feet of entitled density in and around the Canyons Resort area.

For more information please contact:

TCFC – Brian Cejka, Chief Operating Officer at bcejka@tc-fc.com or (214) 384-2055

Varde – Paula Prahl, Global Director of Communications and Public Affairs at pprahl@varde.com or (952) 715-5525

Replay – Greg Ashley, Chief Strategy Officer at gashley@replayresorts.com or (604) 648-6626

 

SOURCE Varde PartnersT

If the real estate activity in Q1 of 2015 is any indication of the future success of Tamarack Resort, then we are all in for an incredible ride!   With 2 closings and 8 current pending offers  (5 of those offers written on a single day earlier this week), the projections for record breaking sales since 2008 are strong.    This surge could be one that continues.  The new ownership and management of Tamarack Resort continue to work diligently on strategic planning for the future of the resort.   The Oliver Russell PR firm is working closely with Replay Resorts to game plan the marketing and exposure of these potential future endeavors.   Valet Vacation Rentals, Tamarack’s on-sight accommodations company, is seeing their highest occupancy rates since 2008 and room rates also on the rise.  From F&B, to rentals, retail and spa services, sales are at an all time high since 2008.   Some property types in Tamarack have increased in value over 100% since the rock bottom prices of 2011.   My buyers are locking in interest rates at 3.85% for a 2nd home.   If you follow the trends of stock prices and real estate, talk to your financial advisor regarding their professional opinion on where your money could be better invested today, then call Trish for a tour of one of our properties!

specialty programs

Looking for Adult Group lessons? Tamarack has two programs starting next week for those that want to become a better skier! Silver Ski is perfect for those 50+ and Women’s Wednesdays is for women wanting to improve their skills with other women. Click on this link for program pricing and dates.  Tamarack Resort Specialty Programs   LIVE WHERE YOU LOVE TO PLAY!   #JointheTamFam

051119_Nordic-Open (71)

Our Foothills Park and Osprey Meadows Golf Course provide outstanding backdrops for beautiful scenery, wildlife and an opportunity to get out and explore mother nature.   Tamarack’s nordic trails are gaining vast popularity, but it’s still your own “Private Idaho” whenever you are out there!   I have uploaded a map of our nordic trail system to bring with you on your next trip to Tamarack to snow shoe or cross country ski.   Pick up your nordic day or season passes at the Sports Dome or at the front desk of Osprey Meadows Lodge.  Rentals available in the Sports Some.  Tamarack Resort Nordic Trail Map

Eagle Magazine

Come home to Tamarack
Local Ski Resort Provides Idaho with Global Amenities

By Liza Long
Photography courtesy of Tamarack

Tamarack is back. Idaho’s family-friendly four-season resort, nestled in the pristine Central Mountains less than two hours from Boise, has started an exciting new chapter that will thrill Treasure Valley skiers and snowboarders. The 39 runs and six lifts, two of them high speed quads, are operating daily again, and the resort is experiencing a reinvigoration, with an array of dining options, onsite daycare, ski lessons, and a variety of onsite lodging choices.

To read the entire article, click on this link: Eagle Magazine article 12/30/14

 

This is a common question I get so here is the current breakdown of where our wonderful TamFam community came from!

Idaho – 34%

California – 27%

Washington – 6%

Oregon – 4%

New York – 3%

Arizona – 3%

The remaining 33% are from:

Colorado, Connecticut, Florida, Hawaii, Illinois, Kansas, Michigan, Louisiana, Minnesota, Missouri, Nevada, Ohio, Tennessee, Texas, Utah, Virginia, Canada, Australia, France, China and Mexico.

Tamarack has great representation throughout the country, and especially here in Idaho.  These 389 homeowners know how special Tamarack Resort is, often calling it a “magical” place.   The community found in Tamarack is unlike any other ski/golf resort in the country.  Approximately 15% of Tamarack’s properties have full time residents, including kids that attend both the Donnelly and McCall school districts.  Come spend a few days and experience for yourself the magic in Tamarack!

 

Tamarack Torchlight

 

Thanks to all who participated in the Torchlight Parade, fireworks show and bonfire at Tamarack.   Another huge success.  Wishing you all a very happy, healthy and prosperous 2015!

 

Clef two-factor authentication