VT Townhomes Reach $34M Sellout
- May 22, 2018
Spruce Peak has completed the sale of all 18 of its new Village Townhomes, luxury units in Stowe, Vt., for a total of $34 million.
This marks the second-straight residential development at Spruce Peak to sell out before construction was completed, following the success of the Mountain Cabins and Club Residences.
“Here at Spruce Peak, over the last five years or so, we’ve really built out the community, and this was really the right project and the right time, that followed the completion of the Village Center,” Sam Gaines, Spruce Peak’s president, told MHN. “They are tremendously located near all the club amenities and the ski mountain.”
The units range from 2,000-2,200 square feet and are comprised of three-four bedrooms, three full baths, a powder room and range plus a heated garage. Inside, they offer exposed wood beam ceilings, large double-height windows and vintage oak floors. Each unit also offers breathtaking views of Mount Mansfield, Vermont’s highest mountain range.
“When you look at the design, we have broken away from some of the more traditional architecture you would find in the Northeast and approached it from a more contemporary mountain perspective, while still retaining the qualities inherent to Vermont,” Gaines said. “The design really reflects how modern families use ski vacation homes. To have four big rooms and open spaces fits the ski vacation experience so many are looking for.”
Sports enthusiasts will appreciate that the property is just steps away from the chairlift, golf course, adventure center and ice rink.
A Slope-Side Community
For 15 years, Spruce Peak has served as Stowe Mountain Resort’s most elevated luxury community and consists of more than 500 homeowners in a rising live/play community.
The Village Townhomes are situated right in the heart of the area, close by a spa and plenty of dining and shopping opportunities.
“The unprecedented rate of development and growth of our community has been nothing short of amazing,” Gaines said. “With the completion of each new residence, we are overjoyed to welcome new families, club members and skiers on the mountain.”
This summer, Spruce Peak will announce plans for another slope-side project, and Gaines hints it will include a level of luxury that will surpass anything the company has previously done.
Last June, Vail Resorts acquired Stowe Mountain Resort for $41 million, from Mt. Mansfield Co Inc., a wholly owned subsidiary of American International Group Inc.