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Central City, Colorado Our Project: GOLD MOUNTAIN |
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Over a decade ago, Arnold Gitten, nationally renowned award-winning architect and President of Adaugeo Development Group from Miami, Florida, first discovered this pristine mountain property on the outskirts of Central City, Colorado. After years of unwavering determination, Arnold has assembled a magnificent 330 ± acre contiguous parcel of land inundated with streams, ponds, aspens, cottonwoods, evergreens and rolling meadows. The mountain-top property, which sits in the front range of the Colorado Rocky Mountains at an elevation of 9000 feet, will be developed into a master-planned golf course community. This one-of-a-kind destination resort is less than 40 miles to Denver, 35 miles from Boulder and only 50 miles to both Breckenridge and Winter Park ski areas. The property, situated in Gilpin County, has been recently annexed into the city limits of Central City, and will enjoy all of the city services (including city water and sanitation). Zoning approvals have been granted to allow for the development of the master-planned community, including but not limited to a unique mixed-use blend of hotel/spa and convention center, golf course, residential, condominium, commercial and apartment dwellings with an almost endless list of indoor and outdoor amenities designed to compliment the overall enjoyment of the development and make it’s mark as a world-class resort destination. Though Central City and Blackhawk have had gaming since 1991, on July 2, 2009 (at 12:01 A.M.) the casinos implemented Amendment 50, voted by the citizens of Colorado, allowing craps and roulette tables in addition to the existing black-jack and poker tables and slot machines. Also, all bet limits will be increased from $5 to $100 and casinos will be open 24 hours a day, seven days a week, completing an entertainment element estimated to draw hundreds of thousands of visitors a year. Arnold has recently partnered with Richard Friedman and Brooks Kellogg of Chadwick Real Estate Group of Steamboat Springs, Colorado, and together they have formed Wedgewood Heights Development Company, LLC. The company has produced this Project Overview as an executive summary and evaluation and identification of available opportunities in the Gold Mountain development. |
Preliminary Development Plan The Gold Mountain property is the largest contiguous parcel of land available for private development in the area. Wedgewood Heights Development Company intends to proceed with a controlled and well-planned project that will not include gaming activities, but rather, concentrate on quality living facilities, a hotel/spa and convention center, commercial/retail, apartments, a championship golf course, many other resort activities, as well as the much needed ancillary support facilities for Central City and Black Hawk. Gold Mountain will be a Planned Unit Development comprised of a hotel/spa/conference center and a championship par 72 golf course surrounded by cus tom homes, townhouses, condominiums, commercial/retail and apartments all arranged in their own individual mountain neighborhood settings. Current demand for resort facilities, housing and services has been created by the economic expansion of the area. There is an extreme shortage of housing, a noted lack of family oriented hotels, virtually no commercial or support space, minimal convention or assembly areas, and a lack of additional tourism and year-round resort facilities. “ Village Square” at Gold Mountain will be the focal point of the development. Aside from the magnificent views of the valleys and mountains, Village Square will feature an open park-like space between the hotel, commercial and condominium units. The area will create an atmosphere where people can meet, stroll, play, shop, dine and live. In addition, Village Square has been designed to accommodate live concerts and other special events in the summer replaced by a spectacular ice skating rink in the winter.
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Gold Mountain - A World Class Mountain Resort - Venue: Hotel/spa and Conference Center: Discussions are in the final stages with Hilton as the “flagship” brand. Upon completion of the agreement the hotel complex will be known as the “Hilton Resort & Spa at Gold Mountain. This will be only the second Hilton in the State of Colorado. ♦ Hotel – 260 Keys ♦ Conference Center / Banquet Facilities – 23,000 square feet ♦ Health Spa & Treatment Center – 11,000 square feet ♦ Commercial/Retail – 30,000 square Feet ♦ Miniature Putting ♦ Indoor Virtual Golf ♦ Concierge Desk ♦ Indoor Pool & Spa ♦ Outdoor Pool & Spa ♦ Business Center ♦ Golf & Tennis Pro Shops ♦ Retail Shops ♦ Gift Shop ♦ On-Site Convenience Store ♦ Gourmet 3-Meal Restaurant Resort Amenities: ♦ 18-Hole Fred Couples Design Championship Golf Course ♦ Miniature Putting ♦ Enclosed Year-Round Tennis Courts ♦ C asino & Downtown Shuttle ♦ Indoor Pool & Spa ♦ Outdoor Pool & Spa ♦ Health Spa & Treatment Center ♦ Ice Skating Rink ♦ Game Room/Arcade ♦ Bunny Ski Slope with “ Carpet Lift” ♦ Tube Slide with “ Carpet Lift” ♦ Snowmobiling ♦ Cross Country Skiing ♦ Snowshoeing ♦ Pond, Lake and Stream Fishing ♦ Bicycling ♦ Year Round Hiking ♦ Adjacent Arapahoe National Forest offers unique summer and winter activities along with numerous marked trails. Single-Family Zero Lot Line Golf Course Homes: It is expected that these homes will, for the most part, draw the golf oriented buyer. Planned are a total of ♦ 150 Zero Lot Line Golf Course Homes. All of the 2, 3, and 4 bedroom homes are being designed and oriented for maximum golf course and mountain valley views Golf Course Townhomes: Planned are a total of ♦ 184 Golf – Front Townhomes in three separate villages with three distinct styles and price points. ♦ 26 Villa Townhomes approximately 2340 square feet each ♦ 78 Patio Townhomes each averaging approximately 1710 square feet and ♦ 80 Terrace Townhomes averaging approximately 1280 square feet each. All of these residential units will be provided on a market-driven basis. A well-planned and controlled architectural guideline is being prepared to establish this product in addition to the overall project direction and design. Resort Condominiums: Atop the 30,000 square foot commercial space, there will be approximately ♦ 100 Resort Condominiums. Designed in 2 and 3 bedroom “ lock-off ” configurations, these investor-owned units will be perfectly matched for larger families under the direction of the Hotel management group. Apartments: Approximately ♦ 112 apartment units are anticipated. On-site employee housing is vital to the successful operation of the resort. These units will be provided in several phases that will allow reasonable absorption and facilitate the current rental market, which has been greatly neglected in the community. It is anticipated that these structures will be three or four s tory elevator buildings consisting of one, two and three bedroom configurations.
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Project Features and Amenity Recap: ♦ 18-Hole Fred Couples Design Championship Golf Course *The Gondola concept is being developed by Airport Management Group, LLC and is in the preliminary stages of planning. The Gondola, as of this writing, is not apart of the Gold Mountain development but may be integrated as the project progresses.
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Density Recap: ♦ 330 ± Acres ♦ TOTAL UNIT COUNT: 806 |
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A Brief History of Central City: Prior to 1991, Central City and neighboring Black Hawk struggled to survive as a couple of tourist towns following their once thriving gold, silver, and ore mining era. Located approximately 40 miles west of Denver, the primary core of patrons that traveled to the his toric area did so to attend the famous Central City Opera House and enjoy the ambience of old western gold mining towns. Since 1991, however, the character and visibility of these sleepy mountain towns has changed dramatically. With the passing of State Constitutional Amendment 4 in 1991, limited stakes gambling became legal in Central City and Black Hawk. Since that time the area has experienced unprecedented growth and has enjoyed over $800 million of private investment. Following the 1991 gambling initiative, certain portions of Central City were designated and re-zoned to permit limited stakes gaming operations. The area has been flooded with prominent facilities such as Harrah’s, Bullwackers, and Harvey’s. In the first year of gaming, 35 casinos opened in the two business districts and generated over $261 million of gross gaming revenues. The amount of land available for development is extremely limited due to the restricted gaming districts, supply, intense demand and topographical limitations for economical development. The limited amount of land available, when combined with intense demand for services, has caused property values to increase dramatically. Most of the available land has been consumed for gaming operations, with little attention given to support facilities, lodging, commercial space, and other community needs. On November 4, 2008, the citizens of Colorado changed all that to allow craps and roulette gaming tables, increased betting limits and round-the-clock hours. On October 8, 2009, Ameristar Casinos, Inc. opened its 33 s tory, 536 room hotel/spa and 1700 car garage expansion to their casino in Black Hawk. As reported in the Rocky Mountain News, the “luxury hotel and spa is the tallest structure between Denver and Salt Lake City” and “will signal the arrival of Las Vegas-caliber accommodations and entertainment to the Rockies”. Ameristar Casinos has continually communicated their enthusiasm and support for Gold Mountain. As the Ameristar Black Hawk Casino lacks many of the year-round resort amenities available at Gold Mountain, management is already planning a scheduled shuttle service between the two major developments. |
Community Information |
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