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Newsletter January 23, 2007
Snow Report: Plenty of it! We received between 8-10 feet from the New Years storms, and it is snowing now. Probably get three more feet by the weekend.
So much has happened in the last couple of months. After the Environmental Impact Survey for the Mammoth Yosemite Airport came back with a clean report in November, Cypress Equities and Starwood Properties both opened real estate sales centers.
Cypress Equities will begin taking reservations for the Ritz Carlton Residences on January 30, 2007. A $10,000 refundable deposit is required for each reservation. Units will be priced from $1.3 million for the least expensive one bedroom up to $6.5 million for a penthouse! The Ritz Carlton Residences will be located on the new Canyon Boulevard across from the 8050 building. Send me an email if you would like to make a reservation, and I will forward you the reservation instruments.
Barry Sternlict of Starwood Capital Group will begin taking reservations for his first project here shortly. Presently, Barry’s team is remodeling their sales center that is located in the office underneath the Village Gondola. Their first project is “Altis” located on the slopes next to Eagle Express. This product will be comparable to the Ritz Carlton Residences in pricing, and will be of the highest quality construction. For the purchaser that must be on the slopes, and wants a mountain home versus a hotel suite, this is the ticket! Next, will be single family residences adjacent to Canyon Lodge, and lastly, a new 5-star condo / hotel will be built at the base of Eagle Express, adjacent to Eagle Lodge.
Starwood Properties has contracted with Coldwell Banker Mammoth Real Estate to be their listing agent for their first project Altis. The Coldwell Banker Mammoth Real Estate team will be available at the Village sales center from 8:30 a.m. to 5:30 p.m., seven days a week! The remodeled sales center is tentatively scheduled to re-open this Saturday, January 26, 2007.
My intuition tells me that the airport beginning flights in December 2008, coupled with the Cypress Equities and Starwood Properties projects will bring magic back into the real estate arena here in Mammoth. Buyers don’t be sitting on the fence too long, buy low and sell high, don’t wait for a purchasing frenzy, now is the time to write your ticket for the best real estate deal since 2004.
Greta Dickson
Newsletter Posting November 12, 2007
SNOW, SNOW, SNOW, it has arrived. How much? I don’t know yet, but it looks like the mountain is getting some nice coverage.
On Tuesday November 13, 2007, the Town of Mammoth Lakes is hosting a “public scoping meeting” as a first step in the environmental review process for the Mammoth Crossing project. The meeting will be held in suite Z at 6:00 p.m.
The Mammoth Crossing development totals 9.3 acres, and includes three corners at Minaret and Main Street. The development will include a combination of commercial, condominiums and/or hotel/motels.
The project calls for the construction of up to 1,020 rooms, building heights up to 130 feet, and density which is approximately double that of the current allowable maximum. In order to accommodate this density, it would require amendments to the General Plan and North Village Specific Plan.
The San Joaquin Villas are accepting applications and offers on this new workforce housing full ownership project. There are deed restrictions on these condos, and to qualify you must have lived in Mammoth for the last 12 months, and worked at least 30 hours per week. A maximum of $102,800 yearly income for 2-person households to qualify.
Airport EIS Update – Town Manager Rob Clark, a member of the Airport Project Team, last week sent a reminder regarding the schedule for the Draft EIS for the Mammoth Yosemite Airport.
November 23: Draft EIS released for public review
December 18: Informational workshop on Draft EIS
January 9: Public hearing
January 18: Comment period closes.
The next step is for the Town of Mammoth Lakes to develop a formal Airport Security Plan that must be approved by the TSA in advance of implementation.
New evening trolley service ready to roll on Friday, November 16th. The new evening trolley will run from 6:00 p.m. to 1:00 a.m. with stops every 15 minutes. The trolley will run from the Village at Mammoth to Main Street, to Old Mammoth Road.
October 14, 2007
Five-Star Luxury Hotel Coming To Mammoth
Well, we’ve all been hearing about this for some time.
On October 5, 2007, Cypress Equities sent the following letter to cooperating agents.
“C.E. Mammoth, LLC, an affiliate of Cypress Equities, the development arm of Staubach Retail, recently purchased the “Hillside” property at the intersection of Lake Mary Rd. and Canyon Blvd. C.E. Mammoth will be revising the plan for an ultra-luxury, whole [emphasis added] ownership condominium project featuring five-star hotel amenities. There will be no doubt these properties will be among the finest available in Mammoth Lakes.
Being a referral agent with a client who had a reservation with the previous owner group, who is no longer affiliated with this property, we want to communicate with you and your clients first on any new developments that will occur in the very near future. First and foremost, please know you and your clients will be contacted first in order to receive priority position once we start the reservation sales program.
We are currently negotiating with our choice for the Management Company, and once the agreement is finalized, you will be the first to know. We do plan on marketing this fall; however, we have no firm plans at this time. Therefore, before marketing the project and working on designs, we would like to get your suggestions and opinions related to project amenities, services, unit sizes and pricing.
Please complete and return the survey so that we can more closely build a property for your clients to call home. Or, you can complete the survey on our website at [website omitted].
Once again, we will keep you updated with any new developments and want you to know we are actively working on this property to bring it to completion for Christmas 2010.
Thank you in advance for your time and valuable input.”
Best Regards,
Chris Maguire
Chief Executive Officer
15601 Dallas Parkway, Suite 400
Addison, Texas 75001
(972)361-5468
Fax (972) 361-5928
www.cypressequities.com
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