Schaffer’s Mill | The Momentum Continues in 2016Mike Montalbano, August 14, 2016 in Real Estate, Schaffer's Mill, Tahoe/Truckee Community
Since the inaugural shovel hit the ground in 2012 it would have been hard for anyone to predict the current level of success at Schaffer’s Mill. Sure John Marlin and the entire Marlin Atlantis Development Team made an immediate impact, but resurrecting this once distressed community was no small endeavor. Even today the rate at which the community has rebounded continues to impress.
From an amenity standpoint the rapid growth within the community created an immediate need for expansion. John, Wyatt, and Allen couldn’t have predicted the early success that has expedited this need. The most recent addition of the Spa On the Rocks, a perched enclave of adult only hot tubs, helped but there was still an elephant in the room – a very hungry elephant.
To date Peg’s Poolside Café has been the only dining option within the burgeoning community. Rapid membership has demonstrated the growing need for more extensive culinary options. Construction of 1867 – an expanded fine dining room, The Horn Bar – the casual dining option where members can socialize, and Whipsaw – the source for mid-golf food and beverages, will alleviate the growing hunger pangs. The anticipated opening is the summer of 2017.
Continued amenity and infrastructure development has coincided with a major real estate shift. As with most communities the majority of growth happens between the addition of the first amenities and the completion of the final ones, normally a 24-36 month period. 2016 falls right in that sweet spot when confidence in the developer is established and current values are high compared to future cost.
In 2016 to date 13 Mountain Lodges were purchased or pending, ranging from $949K-1.5M. Another 6 single family homes sold for $1.25M-2.315M. More and more owners are shying away from the time consuming build process and opting for properties with immediate utility. As new amenities get introduced all signs point to this continued trend for move-in ready structures.
Early questions and concerns about the development have been answered. There is still infinite growth potential within the community and the trajectory remains incredible. Amenity and infrastructure additions over the next 12-24 months will take place as planned and as the window to get involved shrinks, the second half of 2016 and beginning of 2017 will be a great opportunity to get involved at Schaffer’s Mill.
Please contact me directly to learn about the various real estate opportunities at Schaffer’s Mill.