Sales expected to be brisk at Caldera
Published 4:00 am Tuesday, December 6, 2005
The latest round of destination-resort lots will hit the market this weekend when Caldera Springs invites prospective owners to select their future homesites.
The price: the low-$200,000s to the mid-$400,000s, according to John Fettig, a broker with Sunriver Realty who is working on the resort project.
The resort will include 320 homesites at build-out. It is being developed by Sunriver Resort, which owns the adjacent Crosswater golf course.
While wholly owned by Sunriver, Caldera Springs was developed as a stand-alone destination resort on a 950-acre parcel previously owned by the U.S. Forest Service.
If recent history is any measure, sales will be brisk for the first phase of the resort, which includes 217 homesites.
Were expecting an excellent response to the first phase, Fettig said. Our reservation holders have been very excited about each new piece of information we can share.
A similar offering at a new destination resort in Powell Butte saw buyers snap up the entire first phase of resort cabins at Brasada Ranch during a two-day sales event in October. Sale prices for the 57 homes at Brasada ranged between $450,000 and $700,000.
Sunriver planners said initial responses indicate the market remains strong.
Caldera Springs managers had expected to keep that reservation list open through this week. But it had to stop taking names after just 10 days in mid-August because of the overwhelming interest in the project, said Heather Osgood, Caldera Springs marketing manager.
Buyers represent a cross-section of the population, she said.
Ive heard of everything from people who cant wait to build their dream home to people who cant wait to invest in Central Oregon because its an opportunity, Osgood said.
She said prospective owners range from their mid-30s to their mid-60s.
Many people are looking for a second home or a retirement home, said Fettig. That reflects the existing makeup at Sunriver where about 80 percent of properties are second homes or vacation homes, he said.
Caldera Springs will replicate the laid-back atmosphere of Sunriver.
In addition to a large lodge with common areas, the resort development includes a nine-hole golf course, four man-made lakes, more than 10 miles of pathways, a pool and tennis courts.
The resort also will include 150 units of overnight accommodations that are open to the general public. Those overnight rooms are required by the state and county laws that guide the development of destination resorts.
The resorts are designed to attract visitors to the region, create jobs and boost property-tax revenues.
Deschutes County Commissioner Dennis Luke said resort developers also have worked with the county to ensure that transportation concerns will be addressed. For example, he said Caldera will build a new roundabout at the entrance to Sunriver an area of persistent congestion.
He said the resort plan, which the county commission recently reviewed to clear up road issues, has met with no significant objections.
County planners approved the final master plan for the project in August. More information is available at 541-593-3000 or at www.calderasprings.com