Breckenridge Grand Vacations, the development company for Gold Point Resort and Grand Timber Lodge, has completed the last phase of its newest project, the Grand Lodge on Peak 7 in Breckenridge.
The fifth and final phase added 23 units, 48 heated garage parking spaces, 39 additional spaces outside and a new convenience store. The fourth phase, which was completed last spring, added a miniature golf putting green, a barbecue grilling deck, two additional movie theaters — one Blu-Ray and one 3D — an outdoor children’s playground and a pet park.
Mike Dudick, one of the three Breckenridge Grand Vacations partners, said after years working on the project, he’s excited to see it completed.
“It’s a big relief and a big accomplishment,” he said. “The whole resort as a package is one of the finest, if not the best, resorts in Breckenridge.”
The entire Grand Lodge now includes 114 units in two five-story buildings at the base of the mountain with an on-site restaurant, spa, fitness area, game room, aquatics area and more. Breckenridge Grand Vacations has been working on the project for nearly eight years, starting work in 2006.
“It’s a great place to be at right now,” Dudick said. “To have the building completed is a huge milestone for us.”
The company’s development projects began in 1985 with the Gold Point complex; in 1998 it sold interval ownerships in the Grand Timber. Dudick said the next step is to work on selling the new units.
“We basically build the number of units each year that we think we can sell in that year,” he said. “It will probably take a year and a half to two years to sell the whole thing out.”
The company has also now paid off the $116 million loan for the land and construction, Dudick said.
The team originally planned to take a year off during the process, he said, but ended up selling almost double the annual volume that was predicted when they began, so it went much faster.
“We’re very fortunate to be part of Breckenridge, to give back to community,” he said. “We’re really proud of our employees, and the totality of the whole process from construction to sales and operations is really gratifying.”
Breckenridge Grand Vacations recently donated $500,000 for the naming rights to a new community center in town. For Dudick and his partners, the completion of Grand Lodge on Peak 7 is rewarding.
“I walk through with friends or family and it’s neat to see their reaction for first time,” Dudick said. “I’ve seen it 100 times and so when people are impressed, it helps remind me how much we’ve accomplished.”