I recently attended the second planning meeting with East West Partners regarding their new building in the Empire Pass area of Deer Valley at the base of the Silver Strike lift The official name is One Empire Pass. Here are the basics:
The building will be what the developer is calling “Modern Organic” meaning there will be lots of wood, stone and glass in a more contemporary style than other buildings in the area. All of the residences will have Lady Morgan/Empire views, and they will be “see through” with no central hallways or corridors, and each has direct elevator service to the front door. Also on site will be a large fitness room, kids’ rooms, a big “club house” type great room. An Inn Keeper will live onsite and provide services to owners and guests alike.
The complex will have 27 residences as follows:
- Two 2-bedroom residences of approximately 1,350 square feet.
- Twelve 3-bedroom residences between 1,850 square feet and 2,250 square feet, and the larger units also having media rooms.
- Eleven 4-bedroom residences with from 2,350 square feet to 3,200 square feet, and as with the 3’s, the larger residences also having media or family rooms.
- Two 4-bedroom, roof top penthouses of 2,800 square feet each, plus large roof top decks approximately 20’ X 30’(the plan would allow these two penthouses to be combined into one 5,600 square foot penthouse suite that, with its views, would arguably be the best of the best in all of ski country in North America.
- Finally, two ADA units that can also be utilized by owners through prior reservations for overflow guests when otherwise not being occupied by an ADA guest, plus the Inn Keepers’ unit.
And here is the timing:
- December 2015 – Marketing begins (including an onsite sales/presentation office).
- January 2016 – Non-binding reservations ($50,000 fully refundable deposit – unit specific).
- February 2016 – Reservations converted to purchase contracts (20% deposit, refundable through due diligence).
- April 2016 – Commencement of construction.
- November/December 2017 – Residence closings and occupancy for the holidays.
East West indicated they would expect average pricing will be around $1,250 to $1,450 per square foot, depending on location in the building.