Buyers put more than 50 condominiums valued at $50 million under contract at the Westin Riverfront Resort & Spa in Avon during the first day of sales last week.
The project, being developed by East West Partners, is on the Eagle River at the base of Beaver Creek Mountain. It’s expected to open in August 2008.
“That’s a lot for any project in one day,” said Chuck Madison of East West Partners in Beaver Creek. “It’s the equivalent of selling out an entire normal condominium building.”
Despite a cooling real estate market on the Front Range, luxury condos in Vail, Beaver Creek and other mountain towns are selling well.
Last year, Vail Resorts Inc. collected nearly $50 million from almost 500 buyers who wanted a shot at 52 planned condos in Lionshead Village at Vail Mountain. And in Crested Butte, all 89 units in The Lodge at Mountaineer Square sold within six hours for a total of more than $80 million.
But at about $1,100 a square foot, the Westin Riverfront sales set a record for Avon, which is a hodgepodge of buildings without a cohesive center, said Joni White Taylor, a broker at Vail’s Sonnenalp Real Estate.
“It will turn Avon around and make it a much more livable, viable area,” she said. “This will give it that center it needs.”
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
