Riverfront Homes Set for Completion in July

    BRECKENRIDGE, CO, May 14, 2015 /24-7PressRelease/ -- Anticipation is growing for the July 2015 completion of the first phase of new luxury homes at The Shores at Breckenridge - a 10-acre resort community located on the banks of the Blue River.

The six semi-custom homes in the first phase are the first of 40 re-imagined designs in the riverfront community - developed by Boulder-based Meriwether Companies - since they acquired the property in partnership with San Diego-based Pathfinder Partners, LLC in June 2014.

Meriwether and Pathfinder acquired 20 lots and began construction in 2014. Each lot is entitled for two duplexes of approximately 2,500 square feet for a total of 40 residences. When complete in 2018, the community will be comprised of 56 paired homes. The original developer, Mesa Development, built and sold the first 16 homes between 2007 and 2013, but was slowed by the market downturn.

According to Noah Hahn, Managing Partner of Meriwether, "we see tremendous demand for planned communities in mountain resorts that offer year-round - both winter and summer - activities. Inventories in Breckenridge are at historical lows, exacerbated by nearly no new construction for the past five to seven years. Meanwhile, home sales have been increasing for the past two years and prices have risen from the bottom seen in 2010. The Shores is ideally positioned to capitalize on increasing demand for new homes in supply-constrained markets."

Framing was completed in March on the first phase of homes, which range from 2,300 to 2,600 square feet, and feature three or four bedrooms and 3.5 baths, open floor plans, large format windows and expansive outdoor areas; many homes have views of the Blue River or the Rocky Mountains. A model unit will be available for buyers to tour in July. Pre-sales are underway, with two homes sold. Prices for the remaining homes in the first phase range from $965,000 off-river to $1,475,000 for premium river homes.

"Today's buyer wants both high-end finishes and floor plans that are designed for families and multigenerational users" says Hahn. "We looked at the design and finishes of what had been built previously and took them up a couple of notches. We spend considerable time during the design process to make sure we are addressing market trends with a focus on our target buyer."

Among the homes' features are open concept floor plans, vaulted ceilings and large windows that take advantage of views of the surrounding protected open space, mountains and river, as well as clean and transitional finishes with natural stone accents, oak flooring and knotty alder, shaker-style cabinetry. Each state-of-the-art kitchen is outfitted with slab granite countertops and a premium, built-in Bosch refrigerator, range and dual zone wine refrigerator.

By virtue of its unique location along the river, Shores residents will be able to fish from the shoreline and partake in world-class skiing, biking and golf and enjoy concerts, festivals and dining in Breckenridge throughout the year. The Shores is just two miles north of Breckenridge Main Street, and the Breckenridge Ski Resort via Route 9 and a paved bicycle trail, and directly across the street from the Jack Nicklaus-designed 27-hole Breckenridge Golf Club.

The project is being marketed by Slifer Smith & Frampton Real Estate.

About Meriwether Companies
Meriwether Companies is a Boulder-based real estate investment and development firm focusing on luxury hospitality and residential projects in resort markets. Founded in 2010, Meriwether's partnership group is comprised of executives from highly regarded resort firms with over $2 billion of transactional experience as principals. Meriwether currently has ten projects and over $300 million in planned development in Lake Tahoe, Steamboat, Telluride, La Quinta, Rancho Mirage, Fredericksburg, TX and Costa Rica. For more information, visit http://www.meriwetherco.com or contact Noah Hahn at [email protected] or 310-487-5335.

About Pathfinder Partners, LLC
Headquartered in San Diego, Pathfinder Partners was founded by Lorne Polger and Mitch Siegler in 2006 to make opportunistic investments in distressed and opportunistic real estate assets and value-add properties. In addition to seeking opportunities to add value by providing liquidity to selling financial institutions, liquidating funds and fatigued owners, Pathfinder also seeks to maximize value through property enhancements, improvements in operations and marketing, property repositioning and other strategies. For more information on Pathfinder and the firm's newest fund, Pathfinder Partners Opportunity Fund V, L.P., visit http://www.pathfinderfunds.com or contact Mitch Siegler at [email protected] or at 858-875-4455.

For more information on The Shores, visit http://www.shoresbreckenridge.com.

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