A Breckenridge developer is teaming with Vail Resorts Development Co. to build about 140 condominiums at the base of Peak 7 at Breckenridge.
Grand Timber Development Co. will build 96 timeshare condominiums in two buildings on about 5 1/2 acres north of the Independence Superchair. The project also includes 2,310 square feet of commercial space and 6,680 square feet for skier-service facilities, said Mike Millisor, who owns Grand Timber with his brother Rob and another partner, Mike Dudick.
The project also includes a pool, hot tubs and play areas for children.
The Vail Resorts component includes up to 45 condominiums in a lodge on 14 acres, 500 square feet of retail space and 2,500 square feet of skier-service facilities, said Paul Witt, communications manager for Vail Resorts Development.
All residential parking will be beneath the five-story buildings. Pricing has not been determined.
Grand Timber plans to break ground in spring 2007 and have its condos open in time for the 2008 ski season, Millisor said. Witt was not sure when Vail Resorts would break ground.
Breckenridge Mayor Ernie Blake said he’s pleased that Vail Resorts selected a local team to participate in the project. A number of national partners, including Marriott, pursued the deal with Vail.
“I couldn’t be happier that they chose the Millisors,” Blake said. “They put out a wonderful product the town can be proud of, and they give back to the community.”
The Millisors have been in the timeshare business in Breckenridge since 1985, when they developed the 49-unit Gold Point complex on Mount Baldy.
The company started selling ownerships in its 159-unit Grand Timber Lodge in 1998. It’s 80 percent sold out, Millisor said.
“The vast majority of our customers come from the Front Range,” he said.
Staff writer Margaret Jackson can be reached at 303-820-1473 or mjackson@denverpost.com.
