Base Camp At Bear can Start Phase 1

[GlenPLake]

Not sure if this is news, but seems this is moving another step forward

https://mountaintimes.info/2024/09/25/b ... build-out/

“Ottauquechee Realty Advisors, LLC has closed on its purchase of 25 acres from Killington Resort, on which it will develop Base Camp at Bear Mountain. The sale was finalized Thursday, Sept. 19. The development parcel, adjacent from Killington Resort’s Bear Mountain Base Lodge, has town and Vermont Act 250 Master Plan approvals allowing for up to 102 residential units.

Phase I is fully permitted for the construction of 24 townhomes configured in 12 duplex buildings. All of the townhomes will have ski-in ski-out access on the Bear Cub Trail at Bear Mountain.”

[jimmywilson69]

I'd say its news, but not as big of news that you can now see the SS Pod from the Bear parking Lot

[ski]

I'd say its news, but not as big of news that you can now see the SS Pod from the Bear parking Lot

Typical Killington Resort misinformation campaign . .

[wtf021]

Yearly real estate taxes on $2.9 million will be around $110k per year.

[newpylong1]

I'd say its news, but not as big of news that you can now see the SS Pod from the Bear parking Lot

Typical Killington Resort misinformation campaign . .

Is it though? That website is owned and maintained by the developer.

[Stormchaser]

False advertising!

[GMCrra]

Post town re-assessement that is potentially like $45k - $50k in real estate taxes, ouch.
Good luck with that....

[RENO]

Post town re-assessement that is potentially like $45k - $50k in real estate taxes, ouch.
Good luck with that....

This is like telling someone that buys a 2-3 million $ sports car that gas is expensive! LOL! I don't think anybody that can afford a $3+ million vacation townhome is too worried about property taxes.

The only positive to me personally I can see from this is they may try to get trails to Bear open earlier. Nothing even close to affordable to anybody I know in this location or the village...

[GMCrra]

We will see.... real estate is supposed to be an investment, not a charity to the state and socialists in Montpelier. Not to mention the new nearly 4% transfer tax or $110k check you get to write to the state for the privilege of signing up for their tax bill. State was salivating over a new revenue source before its even there, should have passed that pre-COVID not right before the bust. I guess they really want to up the wager on whether people will tolerate triple the taxes to drive to VT versus hop on a plane to superior destinations for skiing?

[Skid Mark]

This project's fate lies with what happens Nov. 5

[KingsFourMan]

Blows my mind that there is a market in Killington for $2.9M townhomes (and up) in the parking lot of Bear where the lifts run for about 3 to 3.5 months per year. Stowe yes because of its name recognition and prestige but that doesn't exist at Killington, not yet anyway.

And for what they will pay in taxes and HOA fees, they could fly first class out west several times a year and ski real mountains and real snow.

I'm happy to see it happening at Killington, but I just don't get it.

[Bubba]

We will see.... real estate is supposed to be an investment, not a charity to the state and socialists in Montpelier. Not to mention the new nearly 4% transfer tax or $110k check you get to write to the state for the privilege of signing up for their tax bill. State was salivating over a new revenue source before its even there, should have passed that pre-COVID not right before the bust. I guess they really want to up the wager on whether people will tolerate triple the taxes to drive to VT versus hop on a plane to superior destinations for skiing?

To the average person at least, vacation property should never be purchased strictly as an investment. Of course, the person buying a $3 million vacation property may not be considered "average".

[Southside_Bobby]

They will have no trouble selling these homes. The same for all the properties they build in the village area.

I'm not sure why folks seem to think there is some kind of severe shortage of uber-wealthy New Yorkers. A few million for brand new property at a major Vt ski resort, a couple hundred miles from Columbus Circle. Peanuts.

Some of the people who buy those giant apartments in the new Manhattan residential skyscrapers, at least one of which is taller than the Empire State building, leave them empty much of the time. They are off living in each of their other five homes around the world. Price tags and taxes aren't stopping them from buying Vt homes or west coast vacations.

Have you seen the gigantic homes they built on the mountain at Stratton, right in the middle of the Tamarack trails? Some of those are also often left empty. These are not people who would even want to rent their places out on STR.

[newpylong1]

Yeah, I am not sure why the head scratching continues on who is going to buy these.

[asher2789]

Blows my mind that there is a market in Killington for $2.9M townhomes (and up) in the parking lot of Bear where the lifts run for about 3 to 3.5 months per year. Stowe yes because of its name recognition and prestige but that doesn't exist at Killington, not yet anyway.

And for what they will pay in taxes and HOA fees, they could fly first class out west several times a year and ski real mountains and real snow.

I'm happy to see it happening at Killington, but I just don't get it.

i dont get people who go 'skiing' but its actually just a fashion shoot for social media. i also dont get people who go 'skiing' but its really just going to the bar... some people go 'skiing' to be seen, not to actually ski. theyre willing to pay $$$$$ for their slopeside vermont ski house™ that they only use a couple weeks per season.

i get the vibe that people who are willing to pay nearly $3m plus a lot of taxes (LOL, as it should be) for a part of the mountain that a serious skier would see the pitfalls to and the people listed above are the same people that dont take skiing seriously and have $ to burn... or they take skiing so seriously and have the $ to burn that this is like their second ski house in addition to the one in aspen, to be used when theyre stuck in boston or NY or MTL and want a quick getaway during the height of the season...

also i forgot to add. pure, straight up foreign money laundering. people hide their ill gotten gains in real estate all the time around the world. its mainly been confined to the major cities (like those empty NY skyscrapers...) but i wouldnt be surprised if they started buying up 'vacation' properties too.