The agreement forms a partnership between Grand Elk Partners, creator of Grand Elk Ranch & Club, and Dan Bowater, which purchased the marina in 1997 from its founder, longtime Grand County resident Frank Norton.
Norton built it as Lake Granby's first marina in the early 1950s, after what had been his dude ranch was submerged by the reservoir now known as Lake Granby.
Jerry D. Jones, Grand Elk principal, says the $55-million marina remodeling and expansion will be completed in two phases.
The first, expected to cost about $22 million, will include a marina with 400 covered slips, almost four times the 109 current slips.
The first phase also will include a new restaurant, a members-only club and a public club. Pontoon boats also will be available for club members, free of charge. Ten luxury townhomes to be built along the shore also are part of the first phase.
The second phase includes the Lake View Lodge and Condominiums. These 129 fractional ownership residences will be located on 11.7 acres on the western side of Highway 34 across from the marina.
Grand Elk Ranch & Club is 20 minutes north of Winter Park, the ski mountain owned by Denver.
When completed, Grand Elk will include 800 residential units. The majority will be single-family homes, although there also will be a mix of cluster homes, townhomes, duplexes, condominium residences, traditional mountain cabins and clubhouse lodges.
Grand Elk Ranch & Club will include a 35-acre retail center as well.
Anchored by a major supermarket, Grand Elk Crossing will be located at the community's entrance on Highway 40. Jones said that Grand Elk Crossing is being designed as an extension of Granby's commercial core and will serve the entire area.
On-site amenities will include a Craig Stadler Signature golf course, two clubhouses, fitness facilities, swimming pools, walking paths and an ice rink.
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