Featuring

  • The remaining southern portion of the Promontory Ranch, whose northern 101 acres, also known as the Snodgrass Trailhead, were recently purchased and conserved by Crested Butte Land Trust.
  • Borders the world-famous Crested Butte Mountain Resort, which features 121 trails, 1,547 acres of skiable terrain, and 15 lifts.
  • The property’s zoning allows for 1,800 residential units and approximately 200,000 square feet of commercial development, making it the logical choice for a future ski village.
  • Promontory’s acreage equates to approximately 12% of the total private land in the town of Mt. Crested Butte.
  • With the cooperation of the Resort, the property can be connected directly to the main ski mountain with a high-speed chairlift.
  • Adjoins Gunnison National Forest for direct access to hiking, mountain biking, hunting, fishing, horseback riding, and backcountry skiing on 11,145-foot Snodgrass Mountain.
  • The property’s dense development potential, combined with its scenic views and ecological significance, makes it an ideal candidate for a conservation-minded buyer seeking state tax credits and federal tax deductions.
  • Located minutes from all of the amenities of the town of Crested Butte, including fine dining, shopping, the arts, and cultural events.  Crested Butte was recently named North America’s #1 Ski Town in Powder Magazine.

Introduction

Situated directly between Mount Crested Butte and Snodgrass Mountain, the 156-acre +/- Promontory Ranch presents an extremely rare opportunity to own a sizable, undeveloped property adjoining one of North America’s most renowned ski areas, Crested Butte Mountain Resort.  The ranch is zoned as a generously entitled Planned Unit Development and accounts for approximately 12% of the total private land in the town of Mt. Crested Butte, making it an ideal acquisition for a variety of investment-minded buyers.

Location

The Promontory Ranch is ideally located adjoining Crested Butte Mountain Resort, one of the most iconic and challenging ski areas in North America.  At just over 156 acres and positioned entirely within the town limits, this parcel accounts for significant portion of the privately owned land in the town of Mt. Crested Butte.  The property is bordered by a combination of Gunnison National Forest and permanently conserved lands owned by Crested Butte Land Trust.

The property lies on the gently sloping flanks of Snodgrass Mountain, an 11,145-foot mountain partially covered with a mix of aspens and dark timber.  Much of the ranch’s eastern boundary is Gothic Road, the main thoroughfare through Mt. Crested Butte.  Gothic Road also connects directly to the town of Crested Butte, located just three miles south of the ranch.

Locale

Crested Butte is known to many as “Colorado’s Last Great Ski Town,” and was recently named the #1 Ski Town in America in Powder Magazine.  Crested Butte Mountain Resort was the host of Colorado’s first X-Games and currently hosts the U.S. Extreme Freeskiing Championships, among others.

Despite its growing reputation as one of the top ski tourist destinations in the country, the vibrant town has managed to hold onto its rich history and community spirit.  The quaint downtown area is a mixture of fine dining, casual eateries, bars, coffee shops, and retail establishments.  The town also has an active arts scene, complete with multiple galleries, the Crested Butte Mountain Theater, and several annual art and music festivals.

Crested Butte has been designated the “Wildflower Capital of Colorado” by the Colorado General Assembly.  In mid-July, the town hosts the Crested Butte Wildflower Festival, attracting enthusiasts from around the county.

The Gunnison-Crested Butte Regional Airport, with year-round commercial service by United and seasonal service by American Airlines, is located 31 miles south of the ranch in the town of Gunnison.  Gunnison is also home to Western State Colorado University and Gunnison Valley Hospital, as well as numerous restaurants, shops, and western-themed museums.

Development Potential

The Promontory Ranch presents one of the most attractive and unique ski resort development opportunities in all of North America.  A significant portion of the property is zoned as a planned unit development (“PUD”) and is primed to be developed into a future ski village for Crested Butte Mountain Resort.

The PUD allows for over 1,800 residential units composed of a combination of condominiums, townhomes, and a hotel.  Over 200,000 square feet of commercial, retail, recreation, office, and community facilities are part of the PUD, as well as a 250,000-square foot parking facility.  There is also the potential for a future owner to partner with Crested Butte Mountain Resort on the construction of a chair lift that will transport skiers from the Promontory Ranch directly to the base of the Mount Crested Butte.

Because of the property’s convenient location along Gothic Road, any future development can connect directly to the town’s central water and sewer services. Utilities including natural gas, electric, and cable television are also available from the main utility lines along Gothic Road.

Promontory Ranch is well protected from future competing development on neighboring properties due to its shared borders with National Forest, permanently conserved open space, Town of Mt. Crested Butte property, and one large private ranch. Such insulation from adjoining private land is rare on any property, much less one located within the town limits of a major ski resort.

As a part of its recently updated master plan, Crested Butte Mountain Resort has indicated that it intends to utilize Snodgrass Mountain for more recreational activities in both summer and winter.  The Promontory Ranch’s location on the eastern flanks of Snodgrass positions the property to serve as a base for potential future recreational activities.

Qualified buyers should contact Ed Roberson for more detailed information on the development potential of Promontory Ranch.

Improvements

Other than a small cabin and corrals that are currently leased to a horseback outfitter, the property is completely unimproved.

Climate

  • Average Annual Precipitation: 23.57 inches
  • Average Annual Snowfall: 300 inches
  • Average Winter High Temperature: 30˚ F
  • Average Summer Temperatures: High of 75˚ F, Low of 39˚ F
  • Days of Sunshine Per Year: 300+

Recreation

While skiing is the main recreational focus of Promontory Ranch, it is important not to overlook the ranch’s other recreational attributes.  The ranch directly adjoins over 1.6 million acres of Gunnison National Forest, a true paradise for outdoor enthusiasts.  Unlimited opportunities for hiking, mountain biking, horseback riding, backcountry skiing, snowmobiling, and camping are in the immediate vicinity of the ranch.  For true adventure seekers, there are several well-known trails that take hikers from Crested Butte, up and over the Elk Mountains into the resort town of Aspen.

Hunting

Promontory Ranch is in Game Management Unit 55, a productive hunting area in the state of Colorado.  Because the majority of the ranch is located within the town limits of Mt. Crested Butte, hunting must take place in the adjoining National Forest.

Fishing

While there is no live water on the deeded property, the Crested Butte-Gunnison area is known to have some of the best fishing in the Rocky Mountains.  Both the East and Gunnison Rivers are in close proximity to the ranch, and the famed Taylor River is just a short drive away.

Investment Value

This exclusive offering of the Promontory Ranch creates an extremely rare investment opportunity for a buyer to own approximately 12% of the private land in the town of Mt. Crested Butte.  Most comparable properties in other ski areas were acquired and developed decades ago; this is one of the last opportunities to purchase a property of this size with such close proximity to a major ski resort.

Conservation Value

There are no conservation easements on Promontory Ranch.  However, due to its location and dense development entitlements, significant state tax credits and federal tax deductions would be available to anyone who chooses to conserve part or all of the acreage.

Crested Butte Land Trust’s recent acquisition and protection of the Snodgrass Trailhead, the 101 acres on this ranch’s northern border, speaks to the high priority conservation values of this land.

Water Rights

No water rights are included with the sale of the property.

Promontory Ranch

156 +/- deeded acres
Colorado
Gunnison County, Mt. Crested Butte

$8,900,000

Contact a Broker

O: 303-623-4545
C: 303-817-9252