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New Lodge Set to Transform Purgatory Base Village

New Lodge Set to Transform Purgatory Base Village

News
posted: 01/01/2000

May 30, 2006

DURANGO, CO - (News Release) - Purgatory at Durango Mountain Resort is thrilled to announce the launch of Purgatory Lodge, a three-phase, $100 million project that will reconstruct and revitalize Purgatory Village and Durango Mountain Resort's base area. Phase I is a $35 million, 130,000 square-foot development, featuring resort amenities and services, commercial space and lodging units. Phase I will be situated slopeside just feet from the Village Express 6-pack chairlift, providing an unmatched ski-in/ski-out location for guests utilizing the lodge. Sales of 29 fractional units and eight private residence club units begin today.

"Durango Mountain Resort has been one of the top Colorado family vacation destinations for decades, and this new base lodge complex will dramatically upgrade our resort facilities and provide the ideal mix of services for our guests," said CEO Gary Derck. "We are looking forward to the groundbreaking, and to the transformation of Purgatory Village into one of the finest base villages in the country."

Purgatory Lodge Phase I will house 89,000 square feet of lodging facilities and 35,000 square feet of resort amenities, including the Mountain Adventure Center, a one-stop shop for lift tickets, rentals, guest services and ski school, as well as retail shops, a day spa/salon, and upgraded conveniences for guests with locker rentals and public restrooms. Phase I will also include a brand new Purgy's day lodge facing the lifts and beach area, with a state of the art kitchen and dining area, fireplaces, fire pits, covered deck and a "beach"-front bar area. As part of the project, the Village plaza will be expanded to include a restored Purgatory Creek, lawn area, and town square-style amphitheater.

Purgatory Lodge, a joint venture between Durango Mountain Resort and Fremont Realty Capital, offers traditional ski-in/ski-out fractionals, featuring unmatched location, amenities and conveniences for guests at Durango Mountain Resort. Quarter and eighth shares are available in two, three and four bedroom floor plans ranging from 1,300 to 1,900 square feet. Prices begin at $119,900 for these units which make up the first three floors of lodging. A Private Residence Club, The Pinnacle, will occupy the penthouse floor, with memberships beginning at $299,900. The Pinnacle is offered in an eighth-share, fee interest manner and includes luxurious four-bedroom, 2400-2600 +/- square foot units with amenities including a club lounge with concierge, private spa, ski valet and exclusive golf privileges at The Glacier Club.

Owners and members at Purgatory Lodge will also have access to a new pool facility with water slides and a lazy river for the children, and a hot tub and lounge/bar area for the adults. The club facilities will also include a resistance pool for swimming laps, juice bar, day spa with fitness center, and a full-service salon. A fully staffed family entertainment area will provide new activities for both younger and older children. Durango Mountain Club limited memberships are available to the public, giving access to pool, day spa and fitness center.

Preliminary timelines slate demolition and construction to begin this summer, with the foundation laid by snowfall, and completion forecast for winter 2007-2008. Phases II and III will include additional amenities, lodging, fine dining, conference and administrative space.

Purgatory Lodge is part of Durango Mountain Resort's 25 year Master Plan, initiated in 2004. The Master Plan consists of six residential villages and amenities to be built over the next two decades. The resort is also in the process of seeking approval for its Mountain Master Plan, including new and upgraded lifts, terrain and on-mountain services, all aimed at growing the resort into the southwest's premier family vacation destination.

Durango Mountain Resort, located just 25 miles north of the historic town of Durango, offers outdoor activities for famillies in both the summer and winter. The resort is known for its excellent weather during both seasons and its proximity to numerous activities in the area including the Durango & Silverton Narrow Gauge and Mesa Verde National Park.

For more information on Purgatory Lodge and ownership opportunities, please visit www.purglodge.com.

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