Your Questions/Our Answers: Density and Phasing

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In a survey after our Feb. 25 Open House, guest shared comments, questions and concerns regarding aspects of the project. Recurring themes were density, financial impact, construction phasing, affordable housing and public access.

We have answers to share, starting with project density.

Based on our financial projections, hospitality experience, and national traveling and lifestyle trends, our number and “mix” of hotel rooms and residences is critical to economic viability. This plan ensures a minimum level of year-round activity on site, which will drive stable, year-round employment. A year-round employee base is the key to a successful business and for the local economy. Seasonal employment is a detriment to operating a high-quality facility.

Since December 2016, we have reduced by half the number of houses we hope to build on the site. Current plans calls for:

  • 40-45 hotel units in mansion
  • 139 condo-hotel units in six buildings
  • 34 single family houses.
  • A 15-acre farm and related structures

Phasing.

Within two years of permitting, we expect to complete the mansion  restoration and expansion, along with a restaurant, spa and outdoor amenities. Phase I will include development of our on-site 15-acre farm.

As with any project like ours, Phase II (condo-tel units) and Phase  III (houses) will depend largely on a healthy economy and buyer demand for our particular residential lifestyle. Assuming a stable economy we project completion of Phase II are 3-6 years after Phase I. For Phase III, we project full completion at 8-10 years after Phase I.

We will have answers to more questions within the next few weeks.

 

Other updates: 

The Planning Board is forming a subcommittee to review town zoning bylaws, including the Cottage Era Estate bylaw. We hope that our supporters will stay informed about this process in coming months.

 

On Wednesday, May 10, 37 Interlaken is hosting a Tri-Town Chamber of Commerce After Hours Event, from 5-7 p.m. We look forward towel coming Chamber members at the property.

 

We are working on a name for our project — beyond its address of 37 Interlaken. We would like to give the property a new identity that reflects its possible future, and we will be looking for some public input.

 

Thank you for your continued interest in our project.

Questions? Comments? Contact us at info@37interlaken.com.