|
The Community
This community combines first-class natural beauty, the colorful history of Colorado,
and comfortable mountain living. Adjacent to Arapaho National Forest, it teems with
wildlife, wildflowers, and groves of Colorado’s signature Aspen trees. Each of the
twelve building envelopes is either set in its own mountain meadow, or tucked into a
grove of pines and aspens, and all are thoughtfully positioned to take advantage of
the breathtaking Rocky mountain views.
By careful planning, the developers have ensured that nearly eighty percent of the
community’s eighty acres will remain undisturbed, thus preserving the beauty and
tranquility of this Colorado landscape.
Community Highlight's
* 40 minutes to Denver via the Central City Parkway
* Beautiful Rocky Mountain views
* All parcels have sunny southern exposure, many with 360 degree views
* Each parcel has its own mountain meadow
* Underground utilities provided to each building envelope
* Located adjacent to Arapaho National Forest
* 40 minutes to Loveland Ski Area, 70 minutes to 6 world class ski resorts
Location
Located close enough to Denver and Boulder to enjoy all the culture and
convenience of a major city, but in a mountain setting near Arapaho National Forest
and close to world-class ski resorts, this community offers unlimited opportunities
for exploration and adventure.
Nearby historic old west towns provide dining, gaming, festivals and other
entertainment just five minutes down the road.
Arapaho National Park
This community is adjacent to the one million acre Arapaho National Forest. This
National Forest straddles the Continental Divide in north central Colorado and is
named for the plains tribe that hunted in the foothills and rugged Front Range
during the summers.
The mountains here are raw, exposing visceral geologic formations such as jagged
ridges, broken buttresses cloud piercing pinnacles and glaciers. Elk, moose and mule
deer can be seen nibbling in the mountain meadows, while Osprey, eagles and red-
tail hawks soar above.
Gilpin County
Located in Gilpin County, a sparsely populated (5,000 residents) rural county in
Colorado’s high country. Tourist and Gaming income has allowed Gilpin County to
maintain very low taxes (65% less than neighboring counties) and still build new
state-of-the-art facilities for its residents, including a new high school, recreation
center, and fairgrounds.
Central City (population 500) is an old west town that is protected as a National
Historic District, yet its well preserved buildings are still full of life with restaurants,
an opera house and limited stakes western style gambling. Central City is the
county seat, so it is the center of county services. It is linked to Denver, the ski
resorts, and the other Colorado destinations by the newly built Central City Parkway.
Black Hawk lies just one mile east of Central City. Black Hawk provides more
restaurants and services, including a small medical center.
This Investment Opportunity
With downtown
Denver less than a forty five minute drive and major ski resorts within an hour drive,
this community is an excellent investment opportunity.
Two-thirds of Gilpin County is in public ownership, primarily under the control of the
Forest Service and the Bureau of Land Management. This leaves a relatively small
amount of land for private ownership use. Because of the scarcity of private land,
prices will probably increase, especially for choice land with recreational and
residential development potential as well as a superior location with views and access
to main roads.
In addition, Gilpin County is an undiscovered area with its low taxes and brand new
facilities. Through funds received from the limited stakes gambling towns of Black
Hawk and Central City, Gilpin County, in the last five years, has built a brand new
High School, Justice Center, Recreation Center and is in the process of building a
Maintenance Facility. As well, taxes on property and homes are as much as 70% lower
than that of the surrounding counties of Boulder and Jefferson.
Since 1992 when limited stakes gambling began, the flow of funds into the coffers of
Gilpin County and the towns of Black Hawk and Central City have increased. The most
recent figures from 2002 show over $15 million dollars have come solely from gaming
taxes.
This is a remarkable amount of money for a county that only has 4,500 full time
residents. Although you never have to visit the gambling towns, they are affording
improvements in facilities as well as lower taxes. These indicators will only nhance
the appreciation of properties.
Area Growth & Appreciation
In 2005, communications by the Peterson Appraisal Company with mountain realtors,
developers and bankers estimates an annual appreciation of 18% a year for premier
properties in Gilpin County. The Company states "there is a strong demand for remote
mountain homesites as evidenced by the number of recent sales in the area. There are
so few family homesites available in the area that demand exceeds supply."
It is estimated the Front Range of the Rockies (Fort Collins, Boulder and Denver) will
grow by 900,000 residents through 2012. These people need to live somewhere and
the majority do not want to live in the ever sprawling suburbs extending out into the
Great Plains. As congestion in these cities increases, people will want to get away from
it all and live in a close and more remote location. This community is a prime area for such interested people.
  
Roads and Utilities
The community is located two miles from the new Central City Parkway at the end of the
well maintained county road. As the entrances to the community are at the end of this
road, there are very few cars going by. But because this is at the last stop on the county
school bus route, the road receives priority maintainence and snow plowing.
Completely constructed driveways are already in place to all of the building envelopes in
Phase One. These driveways are level, have good sun exposure, and are engineered to
exceed county standards. The developer is currently installing primary underground
utilities (phone and electric) to all the phase one building envelopes.
Covenants and Design Guidelines
This community is located in an area of stunning natural beauty, and it is the intention of
the developers to protect this special environment. To that end, the Homeowner
Association (HOA) has adopted sensible covenants to protect the beautiful meadows,
forests, and views that surround the house sites.
The covenants are designed to direct the development of the lots in a manner that
complements the natural setting. They will also ensure that the quiet and tranquil
environment that now attracts elk, hawks and other wildlife will be preserved. The
covenants will set out how concerns such as common areas, open space, community
walking trail, and common driveways will be maintained and managed for the enjoyment
of all.
Included in the convents will be the formation of a Design Review Committee. This
committee will use the general guidelines contained in the covenants to help guide home
construction with specific criteria that will ensure an overall healthy development. These
guidelines encourage the use of natural materials and home designs that blend with and
complement the mountain environment. The guidelines will help ensure the growing value
of the lots and homes in the community.
Area Attractions-Winter
This community is located in the heart of one of America’s greatest winter playgrounds.
Arapaho National Forest is filled with cross-country ski and snowshoe trails.
For more high speed adventure, there are 8 ski resorts that can be reached within a 35
to 75 minute drive, including Eldora, Loveland, Breckenridge, Keystone, Copper
Mountain, and Vail These resort offer some of the best skiing conditions and terrain in
the world. Some of these resorts stay open well into late spring.
Mileage Chart
Destination Time Distance
Eldora 35 minutes 20 miles
Loveland 40 minutes 35 miles
Arapahoe Basin 50 Minutes 45 Miles
Keystone 1 hour 50 miles
Breckenridge 1 hour, 10 mins 60 miles
Vail 1 hour, 20 mins 75 miles
Area Attractions-Summer
Spring and summer bring a profusion of colors as the wildflowers and aspen burst back to
life. The National Forest also provides endless miles of hiking and mountain biking trails
to explore different valleys and ridges, mountain streams and forests. And these trails
continue to the base of the high peaks of the Continental Divide, where more challenging
trails lead over snowfields and high altitude tundra meadows to the summits, some over
14,000 feet.
The Peak to Peak Highway winds 52 miles from Black Hawk north to Rocky Mountain
National Park. This is one of the most popular scenic drives in the country, offering
spectacular panoramas and quaint little mountain communities to explore. The National
Park itself is one of our nation’s great natural treasures, filled with awesome peaks,
glaciers, waterfalls and wildlife. This is home to herds of elk and big horn sheep.
As summer fades, the changing leaves of the aspens make autumn a very special time in
the Colorado Mountains. The community is blessed with multiple groves of aspens
adjacent to all the house sites. A look out your window or a walk outdoors will reveal
spectacular patches of yellows, reds and oranges pasted across the mountainsides.
    
Central City/Black Hawk
Just a two mile drive down a county road is the old mining town Central City. The
entire ‘downtown’ is a National Historic District. It may be the best preserved example
of a real old west town remaining in the United States. But this is no ghost town, as the
old storefronts are alive with restaurants, antique shops, and western style gambling
saloons. The gem of the city is the Central City Opera House built in 1889. From
spring until early fall there are weekly musical performances at the Opera House, and
each season includes the staging of several full scale operas.
Central City, and nearby Black Hawk, have community events nearly every week
including street fairs, music festivals, and quirky events such as the annual Bed Races.
Five minutes from Central City is the new 4,300 square foot Gilpin County Recreation
Center. It has two pools, an indoor track, weight room, and also sponsors craft and
sports classes.
Denver and Boulder
Being within a 40 minute drive of the Denver Metro area is one of the great advantages of
this community. Now that the Central City Parkway is complete, many area residents find
that a daily commute to Denver is an easy drive on nearly all four lane highways. For the
baby boomer, entrepreneur, telecommuter, or artist who controls his or her own schedule,
here is the opportunity to have a home office or studio at this community but still be in
Denver quickly and easily for necessary meetings, or to catch a flight from Denver
International Airport.
Denver also offers great cultural opportunities to complement an outdoor mountain
lifestyle. Denver has one of the largest performing arts complexes in the US, with great
local dance, music and theatre companies. Red Rocks Amphitheatre is an outdoor theatre
uniquely set in a soaring rock formation just west of the city. These venues always attract
the major touring artists and productions.
Twenty miles northwest of Denver is the city of Boulder with the flagship campus of the
University of Colorado. The university has become the nucleus of a world class high tech
industry in the area. The best place to experience the eclectic Boulder culture is on the
beautiful Pearl Street Mall. This pedestrian mall is filled with strolling families during the
day, and explodes into a cacophony of street performers, outdoor cafes and club venues at
night.
Best Exit Strategy
Investors have different investment criteria and goals, but probably the best exit strategy for
the majority of our buyers with this investment opportunity is to hold 3-5 years and then
resell the homesite to a home owner who plans to build on the lot. Given the appreciation
currently in this region, this should be an excellent equity/appreciation investment!
Resell Program
The developer will resell your lot for a 6-7% commission fee. They use an outside agency who
will market the property through advertizing on radio, in newspapers like USA-Today and
Wall Street Journal, all day sales events, and contacting an extensive data base of potential
buyers. Our buyers can also use their own networks and resources to resell the homesite when
they are ready.
Communication and Updates
The developer provides frequent updates on the community's progress through quarterly
newsletters and emails. Each homesite owner will be kept abreast on changes, progress of the
build out and new developments on a regular basis.
Building on Your Homesite
While most of our investors hold the land for a few years and then sell to a homeowner, some
investors may chose to build on their homesite. There are no building time requirements. The
developer has a list of selected builders who investors can contact if they chose to build.
Homesite owners are free to chose their own architects and builders, but will need to submit
their plans to the Design Review Board for final approval. This community has restricted
covenants as far as the type of home build, styles and the minimum square footage.
This Investment in a Nutshell
Unique Features
* The community is 78 acres. There are 11 acres available for building envelopes. The rest of the
community property is designated as conservation.
* Lot sizes range from 2-5.6 acres. Purchases will also have the option to purchase adjacent
conservation easements, to increase lot size if they so desire.
* The building envelopes (25% of lot size) are positioned to emphasize views while not
obstructing building envelopes of other lot owners
* Taxes in 2006 were an average of $284 per parcel. – Taxes in Gilpin County are 70% LESS
than the surrounding counties of Boulder and Jefferson.
* Roads are in for Phase I as well as all piping for underground utilities. The land is improved in
such a way that with the right credit score, banks are accepting as low as 10% down.
Growth Prediction
The gaming towns of Central City and Black Hawk (2 -3 miles away) are experiencing
exponential growth with 900,000 more residents expected to move into the area in the next 2
years.
In 2007, for instance, a one acre parcel in the gaming district sold for $6.7 million. There also is
a 34 story hotel in Blackhawk which is to be completed in Spring of 2008.
Currently, just a mile from the community is a 220 acre parcel under contract that is listed for
$11,000,000. Development plans have been submitted and roads are being installed on a 1,200
acre parcel just 2 miles South of Central City for several hundred homesites.
For more information visit: www.prospectpointe.com or www.rooseveltridge.com
To review Frequently Asked Questions click here
Inventory and Price List
Lot #s Acreage List Price Investor Group Price % Savings
(#2) Mollie 4.2 $160,000 $140,000 12.5%
(#4) Claudia 5.3 $175,000 $145,000 16.0%
(#5) Oranoake 2.3 $141,000 $125,000 12.0%
(#7) Gad 4 $160,000 $140,000 12.5%
(#13) Hubert 5.5 (sold)
(#14) Oronoak 3 (sold)
(#15) Hubert Fork 3 $160,000 $145,000 10%
To view the plat map click here
|
