Breckenridge "momentum" is at its Peaks

Vail Resorts has plans for two ski-in/ski-out villages for hills 7 and 8, including 450 residential units.

Vail Resorts Inc. announced plans Monday for The Peaks of Breckenridge, two master- planned, ski-in/ski-out villages located at Breckenridge's Peaks 7 and 8.

Vail Resorts Development Co., the company's development subsidiary, plans to build a combined 450 residential units in two villages, along with 22,000 square feet of retail and restaurant space and 57,000 square feet of skier-services space.

"There is just so much momentum at Breckenridge right now," said Alex Ifkenderian, the company's vice president of development. "This land is one of the best real estate opportunities in ski country anywhere."

Site preparation began last week, and construction on the Peak 7 Village will start next spring. It will feature 44 whole-ownership condominiums built by Vail Resorts Development and a 114-unit fractional resort by Breckenridge-based Grand Timbers Development Co.

The units are expected to range in price from $400,000 to more than $1 million, said Eric Thompson, managing broker for Slifer, Smith & Frampton Real Estate's Summit County office, the development's listing broker.

"It will certainly be at the high end of the market for Breckenridge," he said. "But given the location, we'll be able to justify the price."

A sales office for the Peak 7 Village is scheduled to open by Christmas.

The company announced last week that it would break ground this summer on a $20 million gondola to connect the two villages to the town of Breckenridge.

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