Winterhaven, a Planned Community, consists of four parcels subject to real estate development; Parcel 1 is 3.29 acres, Parcel 2 is 5.56 acres, Parcel 3 is 12.56 acres, and the grandaddy, Parcel 4, is 142.85 acres. Pieces of all four parcels (but including just a small sliver of Parcel 4) totalling 22.77 acres were used to develop what we know as Phases I & II of Winterhaven, totalling 30 home sites and the associate road, easements, & utility infrastructure. The actual footprint of those 30 lots occupies closer to only half of that 22 acres.
The Winterhaven Public Offering Statement, recorded in 2004, identified the four parcels in plats, plus the initial 12 lots released as Phase I of Winterhaven. The POA also outlined a maximum of 140 Winterhaven lots that could be released for sale by the Declarant within a period of 20 years, with all real estate restricted to residential use only. The Declarant is identified as Herz, Herz, & Reichle.
All of the above should be on file at the courthouse in Parsons.
Doc has made motions to add some 222 acres of his land adjoining the ski area to the sale in order to increase the Resort's value and sale price. (See p. 8 of Document 146 filed 10/11/19.) Many have speculated that this includes Parcel 4 of Winterhaven.
So say there are 110 additional Winterhaven lots for someone to sell someday. (These are 90% synonymous with Parcel 4). Even at bargain-basement auction prices WH lots have recently been seen to fetch about $50k each, in advanceof knowing the outcome of bankruptcy. That's $5.5M, less what it might cost to clear land & extend the roads & utilities up the mountain. But many of those future homesites will have spectacular placement on Twister & Upper Dew Drop ski trails with commanding views of the valley and ski-in ski-out features that only 2 or 3 existing Winterhaven homes possess today. It's not hard to imagine 110 future lots fetching an average of $100K and up. That's $11M minus infrastructure.
It's easy to imagine that the real gem in the Resort sale is ownership of Parcel 4 of Winterhaven, and it will bear monitoring to assure that it doesn't somehow get left out of the mix by the debtor/seller/trustee. Presumably the stalking horse bidder is all over this; not to mention more stealthy entities who may be awaiting the auction closing date to act.
So 2 big questions are .....
Can anyone relate Doc's 222 acres to the 4 Winterhaven parcels?? And does anyone really know what the Stalking Horse bid includes for the $2.5M bid?
The Winterhaven Public Offering Statement, recorded in 2004, identified the four parcels in plats, plus the initial 12 lots released as Phase I of Winterhaven. The POA also outlined a maximum of 140 Winterhaven lots that could be released for sale by the Declarant within a period of 20 years, with all real estate restricted to residential use only. The Declarant is identified as Herz, Herz, & Reichle.
All of the above should be on file at the courthouse in Parsons.
Doc has made motions to add some 222 acres of his land adjoining the ski area to the sale in order to increase the Resort's value and sale price. (See p. 8 of Document 146 filed 10/11/19.) Many have speculated that this includes Parcel 4 of Winterhaven.
So say there are 110 additional Winterhaven lots for someone to sell someday. (These are 90% synonymous with Parcel 4). Even at bargain-basement auction prices WH lots have recently been seen to fetch about $50k each, in advanceof knowing the outcome of bankruptcy. That's $5.5M, less what it might cost to clear land & extend the roads & utilities up the mountain. But many of those future homesites will have spectacular placement on Twister & Upper Dew Drop ski trails with commanding views of the valley and ski-in ski-out features that only 2 or 3 existing Winterhaven homes possess today. It's not hard to imagine 110 future lots fetching an average of $100K and up. That's $11M minus infrastructure.
It's easy to imagine that the real gem in the Resort sale is ownership of Parcel 4 of Winterhaven, and it will bear monitoring to assure that it doesn't somehow get left out of the mix by the debtor/seller/trustee. Presumably the stalking horse bidder is all over this; not to mention more stealthy entities who may be awaiting the auction closing date to act.
So 2 big questions are .....
Can anyone relate Doc's 222 acres to the 4 Winterhaven parcels?? And does anyone really know what the Stalking Horse bid includes for the $2.5M bid?
That totally needs to be put in verse and set to something from the Carter family songbook.
