‘Realization of a 30-year vision’ Billion-dollar: Four Seasons hotel to break ground in MV this spring

Source:  Telluride Daily Planet

Listing info provided courtesy of: Brian O'Neill of Telluride Properties and Bill Fandel of Compass Reatly Telluride.

A one-billion-dollar hotel development, the biggest ever in the Telluride region, is scheduled to break ground in Mountain Village (MV) this April. The Four Seasons Hotel will comprise 52 hotel keys and 40 hotel residences with two separate buildings housing 28 lush private residences. The hybrid lodging model will offer year-round hot beds and diverse lodging options for guests, families, and business gatherings.

The new hotel development will occupy a goal-line location at the base of the MV gondola station where pedestrians may access the property off the gondola terminal and from the plaza below.

“There are few properties available for hotel development in the Town of Telluride, and this new project will help us meet our regional lodging needs,” explained MV Town Manager Paul Wiso

“A Four Seasons Hotel in this location was always envisioned by Ron Allred as he planned MV,” added MV Assistant Town Manager Michelle Haynes.

Bill Fandel, founding broker at Compass along with Director of the O'Neill Stetina Group Brian O’Neill, are the co-listing agents for the project.

“This flagship site is where projects like these were slated to be located since MV’s inception,” Fandel agreed. “This is the realization of a 30-year vision.”

Two prominent Florida real estate developers have partnered for this project for their first domestic venture outside their home state. Fort Partners is a privately held real estate and development firm led by entrepreneur Nadim Ashi that has opened four such hotels across Florida including its flagship property The Surf Club. Merrimac Ventures is a real estate investment and development firm focused on residential and mixed-use development led by brothers Nitin and Dev Motwani.

"We saw an amazing opportunity to be part of the beloved, historic Telluride community," said Dev Motwani, President and CEO of Merrimac Ventures. "Our goal is to create a true 5-star experience, an extraordinary luxury residential and hospitality destination that not only provides a brand-new experience in MV but reflects the inimitable character for which the Telluride area has always been known."

Motwani says it was crucial that the development blend seamlessly with existing buildings across MV.

While the site is 4.5 acres in size, Fandel says the developers proactively decreased site coverage to about 50 percent of what could have been developed, breaking up mass and scale across three structures.

“They created public walking paths and green spaces between structures rather than building a hulking mass that might otherwise overwhelm the site,” he said.

In 2019 the project began a rigorous planning process. The applicants eventually agreed to include 10 on-site employee apartments and to increase a donation to the MV deed-restricted and community housing fund from $2.2 million to $2.5 million.

“The planning was smooth, and the development team are among the most experienced hotel developers the region has ever worked with,” Haynes recounted. “They understand they’ll need to provide additional housing or recruit additional staff by way of employer incentives to accommodate all housing needs to staff the property.”

Community benefits from the project totaling $7.4 million include a village pond, paths, and plaza improvements, a new public bathroom and additional town/gondola parking spaces, among other public amenities.

Even though construction may last three-plus years, Fandel and O’Neill will start marketing the residences next month. With world-class contemporary architecture designs by Olson Kundig out of Seattle and New York and bespoke interiors by Clements Design out of Los Angeles, buyers will purchase residences based on renderings, aerial and drone imagery, and detailed floor plans — a common buying approach in a market like Telluride’s where new properties are infrequent, leading to pent-up demand.

The hotel residences range from one to five bedrooms, all individually owned with the opportunity to rent. Pricing starts at $4 million for a one-bedroom hotel residence and goes up from there for private residences including multi-bedroom penthouses with expansive decks and 360-degree views. 

“The private residences are separate from the hotel and have private elevators as well as oxygenation in the primary bedrooms and some guest bedrooms,” explained O’Neill. “The floor-to-ceiling glass and mix of materials inside and out are spectacular.”

One of the property’s three restaurants, O’Neill says, will likely feature a well-known chef offering dishes with European flair. Additional hotel amenities include ski-in/ski-out mountain access, an expansive spa and state-of-the-art gym, an indoor lap pool and outdoor hot tub, underground parking, and ballroom and retail spaces.    

Fandel says they’re already receiving inquiries for all units, and they’re cautiously optimistic about a “strong initial wave of contracts during this ski season and into summer.” He describes potential buyers as “active and sophisticated travelers and investors who seek world class properties and amenities that offer hard-to-replicate experiences in beautiful and discreet environments.”

A luxury hotel hasn’t been built in the region in more than ten years, and Fandel anticipates the project will qualify as one of only three 5-star resorts in Colorado along with The Broadmoor in Colorado Springs and The Little Nell in Aspen. 

Between now and when they break ground, the developers will continue to work on construction drawings to meet terms of the approved planned unit development (PUD) and those associated with purchasing the property.

Thank you for joining us in exploring the exciting developments in Telluride's real estate scene, particularly the groundbreaking one-billion-dollar hotel project in Mountain Village. As we eagerly await the transformation of this prime location, it's clear that Telluride's charm and allure continue to attract visionary investors and developers.

Mountain Rose Realty: Your trusted partner in navigating the dynamic Telluride real estate landscape.

Telluride Real Estate: Discover the unparalleled luxury and investment potential in Telluride's newest landmark project.

As the Seller's co-listing agents for this flagship development, Bill Fandel and Brian O’Neill of Compass, along with the O'Neill Stetina Group, bring three decades of expertise to the table. Their commitment to realizing a 30-year vision is evident in the meticulous planning that went into this project. The result is a harmonious blend of modern luxury and respect for Telluride's distinctive character.

Anne-Britt Ostlund: Your guide to securing your slice of Telluride paradise.

The collaboration between Fort Partners and Merrimac Ventures promises a 5-star experience, offering extraordinary luxury residences and unparalleled hospitality. With a focus on seamless integration with the existing charm of Mountain Village, this project sets a new standard for upscale living in Telluride.

Telluride Homes for Sale: Explore the exquisite range of one to five-bedroom residences, each a testament to contemporary architectural brilliance and bespoke interiors. Act now to secure your piece of this limited opportunity, with pricing starting at $4 million.

With inquiries pouring in, now is the time for active and sophisticated travelers and investors to make their mark in this beautiful and discreet environment.

Don't miss out on this rare chance to be part of Telluride's history in the making. Secure your place at the Four Seasons project and make Telluride's newest gem your home!! Fill out the form below to be placed on the list for more information as your Buyer's agent for the Four Seasons in Mountain Village!

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