Any progress on the Rice Brook project?

[Ride Delaware ?]

the units are beautiful. i think the slow sales is indicative of the weak economy and the evolving demographics of the northeast.

Home sales have started to pick up. As the economy continues to grow (albeit slowly), and home sales continue to increase, I wonder if the MRV is speeding up real estate wise. Maybe that's why a couple units have sold recently. I'm sure Win has a better feel on the valley real estate market.

[gostan]

the units are beautiful. i think the slow sales is indicative of the weak economy and the evolving demographics of the northeast.

Home sales have started to pick up. As the economy continues to grow (albeit slowly), and home sales continue to increase, I wonder if the MRV is speeding up real estate wise. Maybe that's why a couple units have sold recently. I'm sure Win has a better feel on the valley real estate market.

First home sales have picked up during the last 2 quarters in desireable communities due to the low interest rates, but that is already changing. The second home market has always been a creature of its own. And remember that in housing in general and especially in high priced second home housing many purchasers have little imagination as to what the finished product will look and live like & must see the end product to get wowed emotionally enough to sign up and buy. Rice Brook only further enhances this and there is still a plenty of inventory in the valley. And of course, more of the older demographic buyers will tend to look at buying second ski homes in Colorado and Utah and Tahoe instead of opting for a relatively expensive ski on ski off condo in VT. I do expect, however, that more of these first phase Rice Brook units will go to contract when the season gets closer to reality. And we are getting closer to season with August upon us.

[Ride Delaware ?]

First home sales have picked up during the last 2 quarters in desireable communities due to the low interest rates, but that is already changing. The second home market has always been a creature of its own. And remember that in housing in general and especially in high priced second home housing many purchasers have little imagination as to what the finished product will look and live like & must see the end product to get wowed emotionally enough to sign up and buy. Rice Brook only further enhances this and there is still a plenty of inventory in the valley. And of course, more of the older demographic buyers will tend to look at buying second ski homes in Colorado and Utah and Tahoe instead of opting for a relatively expensive ski on ski off condo in VT. I do expect, however, that more of these first phase Rice Brook units will go to contract when the season gets closer to reality. And we are getting closer to season with August upon us.

I've looked at the MLS listings in the valley, and while there are a bunch, I didn't feel like it was larger than anywhere else. I think things have started to turn the corner. In fact, compared to some other places, I think the prices in the valley are somewhat less than surrounding resorts, excluding Rice Brook. I think there are plenty of affordable options (at the cost of quality and location of course). I also expect sales of Rice Brook will increase as the season continues to near. I'll be interested to see if the speed of these sales impacts the start of phase II.

We are over the hump now. The days have been getting shorter for over a month, the hemisphere has been cooling since July 21, and leaves will begin to change in several weeks. Lets all hope for another November 19 t2b opening.

[HowieT2]

so I finally made it up to vt for the first time since late april. rice brook looks good.
trails on the mtn were wet with running water in spots.
inferno road paved with new guard rails. rte 100 being worked on in spots.
Terra Rosa is no more. replaced by the mad river grill. early reviews (not me personally) were underwhelming.

curiously saw large mounds of dirt towards the rear of the warren house parking lot, but no signs that anything was being done to connect that to the 22 acre lot.

[Ride Delaware ?]

so I finally made it up to vt for the first time since late april. rice brook looks good.
trails on the mtn were wet with running water in spots.
inferno road paved with new guard rails. rte 100 being worked on in spots.
Terra Rosa is no more. replaced by the mad river grill. early reviews (not me personally) were underwhelming.

curiously saw large mounds of dirt towards the rear of the warren house parking lot, but no signs that anything was being done to connect that to the 22 acre lot.

I am relatively new to the MRV, so I'm not 100% sure where all of this stuff is. Was Terra Rosa the place on skiers right of the Access Rd when heading back toward 100? Is the Warren House the older looking restaurant also on skiers right not far from the base area on the Access Rd? What's the deal with that place? Did Sugarbush but the whole restaurant and is tearing it down for parking? Is it out of business? Is it potential shopping expansion?

[southvillager]

I am relatively new to the MRV, so I'm not 100% sure where all of this stuff is. Was Terra Rosa the place on skiers right of the Access Rd when heading back toward 100? Is the Warren House the older looking restaurant also on skiers right not far from the base area on the Access Rd? What's the deal with that place? Did Sugarbush but the whole restaurant and is tearing it down for parking? Is it out of business? Is it potential shopping expansion?

Yes on both locations. SB bought the former Warren House recently. It had been closed and for sale for several years. The resort's plan for the Warren House is a mystery.

[HowieT2]

Yes on both locations. SB bought the former Warren House recently. It had been closed and for sale for several years. The resort's plan for the Warren House is a mystery.

correct. the warren house has been closed for at least several years. SB bought the property last season. The property abuts the "22 acre" lot which is used for employee/overflow parking and is currently accessed from Inferno road across from the entrance to snow creek. connecting the warren house property with the 22 acre lot would permit entrance off the access road thereby siphoning traffic from the base.

[Ride Delaware ?]

Knowing that the property is private (henceforth how SB bought it), I would have to imagine that there is some longterm plan to do something with it, whether it be shops, or offices, or who knows what else. Its in a solid location and the visibility could be increased. I'm sure something along the lines of an off site restaurant/bar wouldn't be too bad either (see Wobbly Barn at Killington). Hopefully Win will return for the winter season and give us the skinny on it.

[Hawk]

As Howie said above, they only have plans for overflow parking for now. I doubt we will see any more Bars and/or restaurants from them. They have 4 already to manage.

[Ride Delaware ?]

Progress is moving right along. I haven't seen the plans that show how much of the parking is supposed to be done with Phase 1, since nothing has been done in the parking lot yet, but the buildings look great and should easily be ready by the ski season. I saw on the website that 9 units (all 6 townhouses and the penthouse condos) are under contract, and one on the second floor is reserved. As expected, they started moving pretty quick once the units got constructed.

I wonder if this is faster/slower than they expected? I wonder if they are planning on moving forward with phase two in the foreseeable future?