golf course and subdivision for sale teton reserve, victor, id

GOLF COURSE AND SUBDIVISION FOR SALE
TETON RESERVE, VICTOR, ID
Teton Reserve is a 448 acre planned unit development in Victor, Idaho. The development is located at the foot of the Teton
Mountains in Teton County which is located approximately 30 minutes west of Jackson Hole, WY. Teton Reserve PUD is
approved for 384 homes, 8.7 acres of commercial area, and includes an 18 hole reversible championship golf course designed
by Hale Irwin. The original concept included a “campus” of amenities containing a large clubhouse, swimming pool, tennis
and croquet courts, health and fitness center, and health spa.
Even in this tough market we believe the property is positioned very well to be the “low cost provider” of primary and
secondary homes in a golf course community in the Jackson/Teton Valley market.
PROPERTY FOR SALE OR JOINT VENTURE:
Property Description
 **Golf Course & 189 Undeveloped Lots in Osprey (59), Merlin (74), Golden Eagle (56).
 7986 sq ft temporary clubhouse
 Older home and metal building used for golf maintenance
 6 Residential Estate Lots ($35K/lot)
 47 Residential Cabin Lots in Red Hawk ($20K/lot)
 9 Residential Townhouse lots (18 units)-Bison Phase ($20K/unit)
TOTAL
Sales Price
$1,900,000
$375,000
$115,000
$210,000
$940,000
$360,000
$3,900,000
LOCATION: 11 East 600 South, Victor, ID (over the hill from Jackson Hole, WY)
Teton Reserve is located in Teton Valley with limitless recreational opportunities of the Northern Rockies including
warmer weather activities of golf, hiking, biking, fly fishing, kayaking; to cold weather activities of downhill and cross
country skiing, snowboarding and snowmobiling along with year round scenic views and abundant wildlife.
This community is 80 miles from both the South and West entrances of the Yellowstone National Park, 40 miles from
Grand Teton National Park, 20 miles from Grand Targhee Ski Resort, 25 miles to Jackson Hole ski resort and 3 miles
from the Teton River. The Teton Valley plays host to thousands of miles of hiking, biking, motorcycle trails, ski resorts,
and centrally located to some of the best trout streams including the South Fork of the Snake, Henry’s Fork and the Teton
River.
REMARKS:
 Teton Reserve has been positioned to be the
“Best Buy in the Real Rocky Mountain West”
We believe it will be a development that
provides a great mix of secondary and primary
residences
 Joint Venture is possible with the right
passive or active $ partner.
 With a purchase price of $3.9M and
additional development cost of $3.1M for a
total of $7M on 262 residential unit is less than
$27K per unit with a free and clear golf course
and community area.
 At less than $27K per lot and residential end
product at $350K-$450K there is a potential
for large profit margin.
 There
is
“room”
within
the
PUD/Land/Layout
to
customize
the
development plan.
For more information please contact: Randy Hopkins, President , Ph: 208-467-5467 Fax: 208-323-0667 Email: randyh@hopkinsfinancial.com
RESIDENTIAL PROPERTY AT TETON RESERVE:
Phase
Type
Status
Red Fox
estate
developed
Silver Fox
estate
developed
Red Hawk
cabin
developed
Trumpet Swan
estate
developed
Peregrine
estate
developed
Snow Goose
estate
developed
Royal Elk
estate
developed
Bison
townhomes
developed
Golden Eagle
patio
50% dev. (est.)
Merlin
patio-paired
undeveloped
Osprey
patio
undeveloped
Total
COST TO COMPLETE DEVELOPMENT:
Cost to complete lot development –estimated cost
Golden Eagle Phase
Osprey Phase
Merlin Phase
Remaining Common Area Development Costs
Total Cost to Complete Development
# of lots
20
15
55
20
18
10
30
26
56
74
59
383
56 undeveloped lots
59 undeveloped lots
74 undeveloped lots
189 undeveloped lots
#of lot sold #of lots remaining
18
2
14
1
8
47
20
0
17
1
9
1
27
3
8
18
0
56
0
74
0
59
121
262
$9,970/lot
$13,620/lot
$12,140/lot
$4,444/lot
$558,000
$804,000
$898,000
$840,000
$3,100,000
STATUS OF RESIDENTIAL PROPERTY: Out of the 383 lots 189 are undeveloped. Of the 194 developed lots
approximately 121 have been sold and there are a total of 25 homes located on those developed lots. At the start of 2012
we have seen most of the original lot buyers and home owners come and go and there is a “new guard” that have picked
up the original properties at substantial discounts. The speculators are gone and the “end users” seem to have arrived.
NEW CONSTRUCTION: We have built three spec “cottages” and one estate home on the golf course and they have
all sold for $189K, $205K, and $240K. A 2941 sq. ft. estate home was completed in March 2012 and is on the market for
$389K. We have taken our building model from Boise, Idaho area to the Teton Valley and we believe this will allow us to
deliver what we believe the market wants – “quality primary and secondary homes in a nice community at an affordable
price”. These home are listed and you can view them at our web-site at www.tetonreserve.com.
STATUS OF GOLF COURSE AND AMENITIES: The 18 hole golf course is a Hale Irwin design that was
completed and opened in 2006/2007. The golf course was operated in 2009 - 2011 by a talented golf management group
from Boise, Idaho, Raven Golf Services, LLC at the expense of the lender at the time, Hopkins. The good news is the
golf course did 8098 rounds and had a net operating loss of only $4,100 in 2011 (excluding real estate taxes). Raven is
operating a “lean and mean” golf operation entity. This number does include their management fee. A large 8000 sq ft.
home has been renovated and is leased as the clubhouse and is currently owned by Hopkins. The permanent clubhouse,
pool, and tennis courts have not been built at this time.
For more information please contact:
Randy Hopkins, President
Ph: 208-467-5467 Fax: 208-323-0667
Email: randyh@hopkinsfinancial.com
Note: The statements provided in this “Have Sheet” are based upon the best information available at this time and are being provided to notify you of
a lending opportunity. These statements should not be relied upon as representation of fact and prospective lenders should independently verify all
information before deciding to fund.
TETON RESERVE
MASTER PLAN
TETON RESERVE
PLANNED UNIT DEVELOPMENT MAP
TETON RESERVE
VICINITY MAP