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42DN Auction Exceeds Expectations

 

42

More than 50 Percent Reserved

By Jann Wiswall

A dozen or so potential buyers, realtors and observers gathered on Sunday, Dec. 13 at the entrance to the future 42 Degrees North (42DN) four-season resort off Poverty Hill Road for an auction of 24 lots for future single-family homes.

Going into the auction, Cash Cunningham of Cash Realty and Auctions, informed the assembled group that two of the lots had been sold in advance, leaving 22 of the lots available.

Within minutes, one buyer bid $30K each for four lots. Soon after, another buyer claimed one lot. And by the end of the afternoon, 12 lots had been reserved with $5K down on each.

Reached before the auction, developer Alex Porritt said he wasn’t sure anyone would be on hand to bid given the warm December and the challenging Canadian exchange rate. But afterwards, he was beyond thrilled.

“The auction advertising generated a lot of interest in the resort, so even if only one lot had been reserved during the auction we would have been happy. This level of response was not even on my radar. It was way beyond ‘good,’ and is a testament to the attractiveness of the 42DN concept, people’s confidence in the market and the popularity of Ellicottville.”

While none of the auction sales is final and 42DN has 90 days to accept offers or negotiate pricing, Porritt says the results make it more than likely that the developers will “start infrastructure construction in the spring, which is sooner than we had hoped.”

Closings will not take place until after infrastructure is completed in late 2016 or early 2017.

42DN is a 144-acre subdivision on the site of the former Concord Ski Club that will feature four-season, single-family vacation homes, a tennis court, a swimming pool and, subject to feasibility, a community lodge with a Nordic spa, event space and more.

Trails throughout the heavily wooded property, including the existing Finger Lakes Trail, will allow for year-round “passive” recreation, including hiking, biking, snowshoeing, cross-country skiing and more.

Recently, the project’s developer Gestion Blueberry Lake brought on some partners and is now working under the name of Delma Resorts.

According to its website, “Delma Resorts is a full service hotel and resort management company… [with] expertise in the acquisition, development, sales and ongoing management of resort and hotel properties. Delma Resorts was created by the merger of the Gestion Blueberry Lake group of companies and SGI Investments Canada, a division of Delma Properties Group, a vertically-integrated real estate ownership, investment, re-development and operating company with over $370 million in assets across North America.”

Because of the new partnership, the developers are now able to offer 42DN property owners the option of exchanging weeks for stays at Delma Resorts’ properties in Quebec, including Blueberry Lake near Mont Tremblant and Les Condos du Lac Taureau on the shores of Lac Taureau.

For more information, visit delmaresorts.com or email Alex Porritt at alex@delmaresorts.com.

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