MAMMOTH LAKES, CA-With the first two phases nearly sold out, resort developer Intrawest Corp. next month will break ground for the third phase of The Village at Mammoth, the mixed-use core of Project Sierra, a 10-year, billion-dollar mountain resort development that so far includes 634 of 2,300 planned housing units, an 18-hole golf course and a pedestrian-only retail center on 250 acres at the base of the Mammoth Mountain.

The 43-unit third phase of The Village is the second half of Grand Sierra Lodge, which Intrawest describes as “a combination of full-ownership vacation real estate with the features and amenities of a luxury resort.” Prices for the turnkey one-, two- and three-bedroom condominiums in Phase III of The Village are expected to range from $370,000 to $1 million. Owners will have the opportunity to place their property into an established rental arrangement.

The first half of Grand Sierra Lodge, which included 66 condominium units, is 95% pre sold at an average sale price of more than $633 per sf. The first phase of The Village–the 77-unit Lincoln House and the 89-unit White Mountain Lodge–are complete and also 95% sold.

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