TAMARACK, Idaho — (October 17, 2007) — Tamarack Resort continues to show strong momentum in the destination resort market; highlighted by the signing of a letter of intent by luxury developer The Elan Collection to purchase a prime resort pad site. The site showcases one of the unique elements that continues to drive demand at America's newest all-season destination–rare slopeside ski-in/ski-out real estate.
Elan Collection LLC–led by well-known industry veterans David M. Disick (Park City, Utah), and Don and Andrew Pitarre (Santa Barbara, California)–has entered into an agreement to purchase land on the north end of Tamarack's Village Plaza for more than $17.2 million.
Elan Tamarack is envisioned as a Private Residence Club comprised of 60 condominium residences. The development is situated on a snowfront knoll just above the Tamarack Express lift, providing the ultimate in ski-in/ski-out access. These luxury properties combine a fractional ownership structure with club-level services and amenities.
The Elan Collection will be distinctive in the luxury second-home ownership field, combining the fractional fee-simple concept of Private Residence Clubs with the flexibility and variety offered by Destination Clubs. Key to the attraction of Elan properties will be a high-caliber lifestyle club incorporating benefits and amenities such as a private wine label, exclusive Elan jewelry and clothing, lifestyle concierge, and Harley Davidson motorcycles for touring Idaho's Payette River Mountains and the surrounding countryside.
Elan co-founder David Disick is considered a pioneer in the Private Residence Club market, having developed the iconic Franz Klammer Lodge in Telluride, Colorado.
“The driving principles in my work have been to craft pleasure into people's lives, and to do everything, always, with quality,” says Disick. “In choosing Tamarack Resort for Elan's newest Residence Club, we were attracted by the quality of life offered here – the result of spectacular all-season recreation and the boutique nature of the development.”
“David is a true innovator in this market segment, and is respected nationally for his knowledge of the business and operational elements essential for a successful Private Residence Club,” says Jean-Pierre Boespflug, Tamarack CEO. “By bringing the Elan Collection to Tamarack, we are seeing yet another validation from leaders in our industry that living and playing in the Payette River Mountains provides a unique experience — one that is in high demand among second-home buyers.”
Elan Tamarack is projected to break ground in 2008, and will be designed by OZ Architecture, whose previous work has involved projects for The Ritz Carlton, The Broadmoor, Westin Hotels and Resorts, and Exclusive Resorts.
About Elan Collection LLC
The Elan Collection is envisioned as a portfolio of Private Residence Clubs (PRC) in signature destinations located throughout the U.S. Led by principals David M. Disick, Don Pitarre and Andrew Pitarre, the Elan Collection brings together individual fractional real estate ownership of elegant properties, combined with the freedom and flexibility of multiple vacation residences in the Elan network. David Disick, an innovator in this market segment, has been referred to as “personally a brand in this industry” conducting “pioneering work in the Private Residence Club Market, essential in establishing the Private Residence Club as a nationally recognized product, and helping establish the prominence of that segment in vacation ownership generally.”
About Tamarack Resort
Tamarack Resort, the first all-season resort to open in the U.S. in more than two decades, has received national attention for its world-class mountain for skiing, hiking and mountain biking; Osprey Meadows, a Robert Trent Jones, Jr., signature golf course named America's Best New Course in its category for 2006 by Golf Digest; and beautiful Lake Cascade, ideal for swimming, sailing, fishing, sea kayaking, and boating. A key element of the Tamarack community is The Club at Tamarack for homeowners, their families and guests. Nestled in Idaho's Payette River Mountains, Tamarack is a luxury boutique resort with a variety of lodging options all within walking distance of the four-
season amenities. Visit www.tamarackidaho.com for more information about Tamarack Resort.