Tamarack Resort's Whitewater Release Raises $91.5 Million in Real Estate

Tamarack Resort's Whitewater Release Raises $91.5 Million in Real Estate

Resort Sells 31 More Properties Than Planned Due to High Demand, 134 Sold in All

DONNELLY, Idaho, Jan. 24 /PRNewswire/ -- Homebuyers from Idaho and several other states throughout the US and internationally spurred a third-straight sell-out for Tamarack Resort, as all 103 properties available for the resort's Whitewater real estate release, plus an additional 31, were sold out in one day during a Jan. 22 release event, raising $91.5 million for further development of the nation's first ski, golf and lake resort to be built in 22 years.

(Photo: http://www.newscom.com/cgi-bin/prnh/20050124/LAM107)

Demand for the Members' Lodge and first phase of townhomes proved so intense that Tamarack released as much additional inventory as possible. "The excitement and urgency to become part of the Tamarack community continues to escalate," said Tamarack CEO Jean-Pierre Boespflug. "With the mountain now open, the golf course grand opening around the corner, and development of the Village on the horizon, Tamarack has arrived on the scene as one of the nation's finest, all-season resorts and will henceforth be known in the resort market as a major real estate investment contender."

As has been the case in the past, proceeds from Tamarack's Whitewater Release will be invested in the continuation of planned development at Tamarack Resort. Seventy-nine million from the two previous real estate releases have helped fund the completion of five ski lifts, including two Leitner Poma high-speed detachable quads; 62 cottages, chalets and private homes; and the 45,000-square-foot Discovery Village, which houses Tamarack's ski and ride services, bars and restaurants, kids' center and Crane Creek market. Underway are the resort's spectacular 89,000-square-foot Members Lodge & Spa, set for completion this December, and the Robert Trent Jones II golf-course due to open this summer.

Tamarack has achieved strong results in selling ski-in/ski-out resort- built homes and custom homesites, golf properties and estate lots due to the resort's beautiful four-season setting and unparalleled resort master plan. With year-round recreation opportunities and an emphasis on low volume and five-star service, Tamarack has laid a solid foundation for what is expected to be one of the most successful resort communities in the US.

"During the release, buyers were already expressing their eager anticipation for the next real-estate release -- the upcoming first release of the Village at Tamarack. Based on the increasing attention the national media is paying to Tamarack, the greatest challenge the developer now faces is producing new homes fast enough," said Matt Shanaberger, chief operating officer of Synthesis Realty Group, an internationally-recognized resort real estate sales and marketing firm based in Santa Barbara, Calif.

The properties purchased in Tamarack's Whitewater Release include:

* 27 Members' Lodge & Spa Condominiums -- Price range was $325,000 to
1.45 million
* 12 Chalets (resort-built) -- Price was $1 million
* 15 Chalet Lots (for custom homes) -- Price range was $280-$325,000
* 39 Estate Homesites (exclusive ski-ski-out locations) -- Price range
was $470-$875,000
* 41 Townhomes -- Price range was $399-$759,000



In the coming months, Tamarack will be taking reservations for its next release of real estate, expected some time this summer.

About Tamarack Resort

Tamarack Resort, the first all-season resort to be permitted in the U.S. in 22 years, has received national attention for having not one, but three spectacular crown jewels: a world-class ski mountain, a Robert Trent Jones II signature golf course and beautiful Lake Cascade, suitable for swimming, sailing, fishing, sea kayaking, and boating. A key element of the Tamarack community is The Club at Tamarack for homeowners, their families and guests. The Club at Tamarack plans social activities and family events, organizes discovery adventures such as whitewater rafting and fly fishing, and provides an unparalleled level of guest services to its members and guests. For more information about Tamarack Resort, call 208-325-1000 or visit www.tamarackidaho.com.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050124/LAM107
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Tamarack Resort

CONTACT: Joanne Taylor, +1-208-388-3800, jtaylor@peyron.com, for
Tamarack Resort; or Scott Turlington of Tamarack Resort, +1-208-489-1375,
sturlington@tamarackidaho.com

Web site: http://www.tamarackidaho.com/


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