Our approach is unique...

We offer integrated development management services that optimize value from planning/design solutions, entitlement flexibility/solutions, development strategies, proforma strategies, builder/developer/contractor relationships and rigorous project management and execution. We have significant operations and development expertise and deploy the techniques that have made our resorts and development projects so successful, even through the recent great recession.  These techniques include developing resort and real estate solutions with:

1.  Lowering carry costs and providing shared community funding.

2.  “Smart” product offerings and compelling amenities.

3.  Flexible zoning and development approvals

4. Efficient buildings and bite-size phasing.

5.  System-built construction techniques.

We attract experienced, patient capital sources and debt financiers that see the benefit of joining forces with the project sponsor developer.  We structure compelling project-specific solutions to get investors to invest in / develop specific parcels and we build marketing/sales systems that optimize sell-through and returns.

Examples of development management services that we can provide include:

1.  Creating initial development concepts plans, strategies, budgets and schedules, including, but not necessarily limited to:

a. analyzing the physical site and defining the land and vertical development value drivers and limiters for each development parcel;

b.  creating a series of development alternatives and then testing the financial returns, phasing/flexibility and development risk of each alternative (in addition to physical design objectives) to determine the best risk/reward development strategy;

c. refining any master plan concepts already created to reflect the current reality of financial feasibility and development practicality;

d. refining the preferred development strategy and proforma, with fallback options and upside options as appropriate for all existing and potential future land holdings;

e. exploring various joint venture, land exchange and redevelopment options for developable lands.

2.  Creating a detailed development strategy for maximizing the value/returns of each developable parcel including, but not necessarily limited to:

a. maximizing developable/buildable land and development yields;

b. defining critical ownership, control and development rights-related actions;

c. eliminating regulatory blockades, barriers and obstacles;

d. defining any land ownership or title issues;

e. defining how to leverage federal land ownership, SUP uses, rights and restrictions;

f. defining access, rights of way and easement needs;

g. defining jurisdictional limits, setbacks and protective zones;

h. defining prescriptive rights and adjacency issues;

i. defining utility capacity, will serves and easements/corridors;

j. developing a master infrastructure plan with existing and future utility corridors and easements; and

k. identifying barriers, obstacles and issues that must be resolved before others become aware of specific development objectives.

3.  Preparing (and periodically updating) the feasibility analyses for each developable parcel including, but not necessarily limited to:

a. market demand (product niches, absorption, price point, critical features);

b. competitive set inventory and positioning;

c. physical site feature analysis;

d. development parcel carry capacity and building mass/envelope;

e. frontage, views and relationship value-drivers and premiums;

f. infrastructure cost and service limitations;

g  construction logistics, access and staging limitations;

h. construction cost estimates (order of magnitude);

i. resort commercial distribution (relocated expansion of existing or new/future).

4.  Establishing marketing and sales strategies and execution plans for each product/project including, but not necessarily limited to:

a. identifying unique selling propositions, pricing, product features, amenity packages, and related attributes for each product/project;

b. conducting market analyses and focus groups that inform marketing and sales strategies;

c. identifying near term priorities (i.e., critical information that is needed to execute the sale and marketing strategies);

d. preparing offering packages and sales products to facilitate potential future transactions with equity partners, lenders, developers, builders, and partners;

e. building a loyalist customer database strategy of qualified real estate prospects.

5.  To the extent not already obtained, securing and maintaining (on owner’s behalf) all necessary environmental, zoning, land use, and site plan approvals and other permits for the project (“entitlements”).

6.  Coordinating offering and/or investor packages, reviewing proposals, proposed investors, JV partners, developers, and/or builders, making recommendations to owner for the selection of investors, JV partners, developers, and/or builders.

7.  Assisting owner in the establishment of community funding and operating entities, such as any master homeowner’s associations (“MOAs”) or individual homeowners’ associations (“HOAs”) required to manage the ongoing community and association services. Assisting owner in drafting any necessary documentation in connection with such MOA/HOA and any required covenants, conditions and restrictions for the master project.

8.  Creating state-of-the-art design guidelines and controls to ensure the aesthetic quality of the development creates an exciting/unique sense of place that is fitting for Eagle Point and the Southwestern Utah region.

9.  Assisting owner in obtaining financing from independent third-party lenders (if necessary) for the development of the project.

10.  Interviewing, recommending selection and managing project consultants and/or contractors to assist with entitlement, planning, design, engineering, financing, sales/marketing, and/or construction services.

11.  Conducting regular project meetings with you and appropriate project investors, developers and consultants.

Mountainsprings is uniquely qualified to assist you in this endeavor in these unique and quite challenging times because:

▪   As both an experienced resort operator and real estate/community developer, we understand how to leverage the strengths of both parties to optimize value, maximize returns and create unique quality in the finished product.

▪  We bring to the table an extensive network of existing equity, debt and creative funding/ financing specialist.  These include a variety of nationa/regional equity investors, REITs, high-net worth individuals as well as numerous national/regional lenders that finance resort and non-resort real estate..

▪  We understand the current (and rapidly changing) trends in both investor preferences, capital market requirements and deal/transaction structures … and can use this knowledge to structure deals that work and can get done.

▪  We have successfully employed this approach at Purgatory/Durango Mountain Resort, Kirkwood Mountain Resort, Taos Ski Valley and elsewhere … assembling land, developing quality projects, building quality products, and achieving real estate sales levels that are significantly higher, and at much lower marketing costs, than other comparable resorts.

We would be happy to provide a sample of our Development Management Services Agreement if you would like greater insight into how our relationship might be structured.  We are also open to other potential structures that might be more appropriate.