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AVON, CO-JMG Development has received final approval from the Avon Town Council for its $72-million development, the Gates on Beaver Creek. The approval allows it to resume construction. Residences at the Gates include 49 condominiums that start at $975,000. The two- to four-bedroom units range from 1,268 sf to 2,680 sf, including 16 two-story penthouse suites.
The development is aptly named, as it is at US Highway 6 and Avon Road at the entrance to Beaver Creek, west of Vail. "The Town of Avon has been wonderful to work with," says Tim Barton, president and CEO of JMJ Development, the developer of the project. He calls it "one of the finest projects" in Eagle Valley, which he says will "spur continued economic development and revitalize this area."
The town had required a $37-million completion bond to be in place before construction resumed. Barton said he is pleased JMJ was able to meet all of the city's requirements and still be on schedule with construction. "We are excited about construction getting under way," Barton says. "Structural steel is being fabricated and will be on site in the next two months."
Two years away from completion, the Gates on Beaver Creek has already seen robust sales, leading the local market with 30% of the 49 properties sold. Suzi Apple, owner of Gateway Land and Development, the real estate company listing the project, attributes this surge in sales to the high level of amenities that differentiates the Gates from other properties in the area.
Amenities of the project include: a library and meeting room with a hearth; outdoor gathering deck overlooking Beaver Creek with spa and fireplace; on-site concierge; mountain shuttle service; ski valet; indoor heated pool; on-site management; children's recreation room with pool table and game; women's and men's locker rooms; underground parking for some units; granite slabs and hardwood floor; and access to a planned gondola from the town of Avon.
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