Grand Lake / Real Estate: Ravenwood Townhomes open doors to interval ownership
February 4, 2008
The final touches at Ravenwood Townhomes are complete and the developers are excited to announce that the units are ready for occupancy. An open house has been scheduled 10 a.m. to 4 p.m. Saturday, Feb. 2, during the annual Grand Lake Winter Carnival.
The property, which is located at the west side of Grand Lake, has been in the Wahlen family for many years. As a child, Marsha Wahlen’s family owned a cabin at the top of the forested hill that overlooked the property and after she married Chuck, the couple purchased a cabin that sat where Ravenwood has now been constructed.
With the Wahlens enjoying the property, especially for regular family gatherings, and Marsha’s fond childhood memories of the area, they decided to develop the property into something a little more fitting for today’s modern lifestyle so others could enjoy the Grand Lake area.
Members of the family, including Chuck and Marsha’s grown children Andrea and Chris, personally attended to each detail so that the project captures the things they loved about the town.
“While it was sad to see the family home leave the project, what resulted has capitalized on the location and the beauty of this piece of property,” Andrea said.
Ravenwood offers one-sixth interval ownership, which project partner Steve Parry
said hasn’t been done in Grand County for quite some time. The decision was made because the family noticed that different people are attracted to the area during the different seasons. Some visitors like to enjoy prominent summer activities like river rafting, fishing, water skiing, hiking, climbing, mountain biking, camping, swimming and beach time. Others may flock to the area in the fall for hunting, or in the winter for Nordic or Alpine skiing, snowboarding, ice fishing, snowshoeing, and to enjoy the Grand Lake area as the Snowmobile Capital of Colorado.
“The activities change with the weather and therefore so do the visitors,” Andrea said. “With the interval ownership we have made it possible for people to either spread their time equally throughout the year and experience everything that Grand Lake has to offer or if they especially enjoy a certain time of year here they can focus their weeks in that season.”
With many mountain homes serving as secondary residences, maintenance costs when they are not in use can be high, which affects their affordability. By having six owners for each unit at Ravenwood Townhomes, the costs are divided and there’s a larger possibility that they are occupied year round.
While the units are being sold as “fractional ownerships” the family is also selling units to individual buyers. These potential owners would buy six “shares” of the units they are interested in.
Ravenwood Townhomes encompasses 11, 1,300-square-foot units for a total of 66 possible shares available. Buildings A and B have four units and Building C has three units. Units consist of two living levels with a third level as an attached, oversized two-car garage,
Each living space has two bedrooms, a study, two and a half bathrooms (for a total of three sinks, three toilets and two showers), radiant floor heating in the living levels, hardwood floors, and slab granite countertops. All materials are natural, including the hand-scraped walnut wood flooring, slate tiles in the showers and on the bathroom floors, and hickory cabinets.
Other special elements include Murano glass light fixtures, Danza copper fixtures, Kohler sinks and a custom granite sink in the upper-level bathrooms made from rocks taken from the property when construction began. Units with one individual owner can be furnished.
They were designed to accommodate a plethora of different lifestyles, with comfort and flexibility in mind, and are custom toward families that like to vacation together. Price range is $495,000 for sole ownership or one-sixth ownership intervals for $100,000.