Willits Town Center - Legacy Development

Willits Town Center
Basalt, Colorado
Willits Town Center
Basalt, Colorado
Willits Town Center supports
a year-round community with
a diverse group of restaurants,
retail shops, office space,
residential lofts and more.
Located in scenic Basalt, Colorado, Willits Town Center is a mixed-use development that
includes 250,000 square feet of commercial space and 120,000 square feet of residential
condos. Located just minutes from world-class ski resorts, miles of hiking and biking trails,
alpine camping, world-renowned fly fishing and much more, Willits offers something for
everyone. Built around a central town square with plenty of green space, Willits is the only
sustainable, mixed-use community in the Roaring Fork Valley.
The project is anchored by Whole Foods and is home to popular, urban-chic retailers
including Starbucks; Four Dog Fine Wines and Spirits; Salon Terra, an Aveda Salon;
Mauka Frozen Yogurt; Bristlecone Mountain Sports; and Sure Thing Burger (coming soon).
Where Affluence, Activity, and Altitude Meet
Snowy peaks, back country
wilderness, and pristine trout
streams provide a stunning
backdrop and premier playground
for an exceptional high life.
Basalt is at the geographic center of the Roaring Fork Valley, which is home to some of the
state’s most dynamic growth and year-round cultural and recreational treasures. Willits Town
Center sits along Highway 82, the region’s sole vehicular route between Glenwood Springs
and Aspen, and serves an affluent and energetic primary trade area.
• More than 35,000 vehicles pass the Center along Highway 82 daily
• The renowned luxury resorts of Aspen and Snowmass Village (20 minutes away),
and Carbondale and Glenwood Springs comprise the primary trade area
• The primary trade area includes approximately 92,000 households
Upscale Shopping Grounded in Core Conveniences
In its mountain resort setting,
Willits Town Center makes
Colorado adventuring easy,
and is the perfect place to relax,
explore, and experience some
of the state’s unique wonders.
Willits Town Center delivers on the expectation of convenience and efficiency. In this
community where people live, work, dine, play, shop and stay, design and accessibility define
the exceptional.
• 1,500 parking spaces
• Underground residential parking
• Bus stop access to Roaring Fork Transit Authority (RFTA) Bus Rapid Transit (BRT)
• Proximity to 6,178 businesses within 30 miles
Eco-Friendly, Modern Hotel Opening in 2015
Element Hotel attracts
college-educated professionals
and travelers aged 30 to 45 years
who live balanced, active lifestyles.
• Inspired by Starwood’s Westin Hotels & Resorts, Element Hotels are designed to provide
a balance for both business and leisure travelers over an extended stay
• The Element Hotel at Willits will feature a four-story building with 113 guest rooms that include fully equipped kitchens, spa-inspired bathrooms and Westin heavenly beds
• Element Hotels projects to drive room rates well in excess of Glenwood Springs’ lodging,
but still offer consumers a significant discount from the Aspen/Snowmass resort markets in both the summer and winter
• Element Hotels’ average occupancy is 83% with an average room rate of $161 a night
Where Nature’s Beauty Drives Thriving Tourism
Visitors Per
Month
• The Aspen area’s top feeder markets include Texas, California, Florida, New York and Illinois
• The Aspen Airport is the third-busiest in the state, with more than 400,000 annual passengers
236,468
146,190
84,630
88,020
185,845
May June
345,898
204,330
103,602
Feb March April
122,574
219,296
Jan
222,720
249,119
• The primary trade area’s annual tourism spending exceeded more than $1.5 billion in 2012
July
Aug
Sept
Oct
Nov
Dec
• Average visit is five nights, with 88% of tourists staying at least one night
• The trade area’s tourists are very affluent – 75% of visitors have an average household
income of $100,000+
The Aspen area is a year-round destination with
more than 2.2 million annual tourists
• Of these visitors, 38% are represented by families with children living at home; 32% are
empty nesters, 14% are single without children and 17% are couples without children
Longmont
Granby
1 34
Boulder
9
1 31
70
70
New Castle
Rifle
Silt
Glenwood
Springs
Carbondale
24
Gypsum
Eagle
Edwards
40
Denver
Vail
Silverthorne
6
Minturn
Frisco
White River
National Forest
70
24
Willits
Town Center
91
Bailey
9
Snowmass
Aspen
Leadville
Willits Town Center
Basalt, Colorado
AREA MAP
Conifer
Breckenridge
285
Willits Town Center Trade Area
Shopper Profile:
Willits Town Center
2013 Trade Area
• 91,842 effective number of households
• Average Household Income - $126,689
70
Garfield
15 m i l e
Eagle
10 m i l e
70
Willits Town Center
Vail
• Average Age – 44 years
• 66% Female / 34% Male
5 mile
• 71% of the trade area’s population are Snowmass
Aspen
Pitkin
Mesa
“Brand Shoppers”, defined as consumers who buy well-known brands because they provide the best quality for the price
Source: Alexander Babbage 2013 Shopper Intercept Study
2013 Average Single-Family Home
Prices by County
Eagle: $903,000
Pitkin: $3,700,000
Gunnison
Garfield: $339,990
Mesa: $234,700
TRADE AREA MAP
Gunnison: $325,870
Bznk
US Bank
82
City Market
Willits Town Center
Willits Lane
Whole Foods
Opened 2012
82
© 2015-2016 LEGACY Development
ABOUT LEGACY DEVELOPMENT
LEGACY Development is celebrating 20 years with the same unwavering goal of creating
world-class retail and mixed-use developments. Since 1995 the team at LEGACY has had
a hand in creating more than 50 projects with over 31 million square feet of commercial
space across 14 states. Today, the company continues to deliver properties that provide a
unique customer experience and add value for owners, tenants and the community alike.
CONTACT THE LEGACY DEVELOPMENT TEAM:
LEGACY Development
4717 Central Street
John Liprando
Kansas City, Missouri 64112
Sr. Vice President of Leasing
816.777.3500
303.475.7988
legacydevelopment.com
[email protected]