Grand Summit at Heavenly plans remains on track
Although pre-sales for the Grand Summit at Heavenly have leveled off in the last month, the major resort project planned near Stateline is still ahead of schedule by most standards.
In just 19 months, a variety of buyers have staked a claim to 83 percent of the condominium-hotel project that offers quarter-to-whol
e ownership in a myriad of units that come with hotel amenities like maid service and valet parking, Director of Sales and Marketing Jan Vandermade reported. August proved to be the best sales month.
“We’ll probably sell out before we open,” Vandermade said, adding the prospect of a project of this magnitude filling up in less than four years is unusual. The doors should open in 2001.
Still, quarter timeshare units ranging from $80,000 studios to three-bedroom condos selling for $275,000 are still available, Vandermade stressed.
At last count, the buyers break down to 14 percent Lake Tahoe locals; 52 percent Californians, with the majority coming from the northern portion of the state; 31 percent out-of-state residents; and 3 percent residents who live outside the United States.
And if its sister resort opening last February in Utah serves as any indication, the local anticipation for a promising response to both the condo units and hotel from tourists and the community is warranted.
“We’re very pleased with the bookings,” said Dave Stevenson, vice president of hotel operations.
Stevenson , who could only comment on the hotel occupancy aspect of the Grand Summit of Utah, viewed the receptiveness of guests to the hotel as a measure of the success mountain resort. The Canyons, as it’s called, brought in a busy conference season for parent company American Skiing Co. this summer, according to Stevenson. As difficult as it seems to fill 500 hotel rooms, the hotel operator reports some sell-out dates in January and February 2001. Time-share condominiums, meanwhile, have reached a 52 percent sales level, well below that attained by the Grand Summit at Tahoe.
“It’s a new product for Park City,” Stevenson said, adding that the nearby restaurants and bars have really rounded out the pedestrian-friendly village.
Construction on the Grand Summit Resort at Heavenly will start in the spring. An ice rink, retail center, theater and public parking garage that make up the $250 million Park Avenue project should also open in 2001.
Residents and guests of the Grand Summit will be steps away from the project’s $20 million gondola due to open this December. It takes eight passengers at a time from the town up the mountain in less than 12 minutes.
Phase 2 of the Park Avenue project breaks ground in 2002, with the transit center due to be finished at that time. The Lake Tahoe Inn and Cecil’s Market should open in 2004.
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