Ellicottville project worth $30M
- A $30 million townhouse project, the richest residential undertaking in Ellicottville's history, has been proposed for the resort community.
AWSC LLC, an Amherst investment group, is working with Ellicottville officials on a proposal to construct the Morningside Estates complex not far from the intersection of Route 219 and Route 242. The group acquired a 10-acre parcel from developer Peter Krog. Krog is not part of the development group.
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Morningside Estates will feature 54 three-story townhouses averaging 3,500 square feet, with price tags ranging from $650,000 to $1.2 million, depending on buyers' special requests. The property is less than one mile from Ellicottville's main Washington Street hub and a short drive from Holiday Valley Ski Resort and HoliMont Ski Resort.
"Each new project seems to be raising the bar in the community," said Brian McFadden, executive director of the Ellicottville Chamber of Commerce.
The Jackson Hole-themed development will be constructed in multiple phases over the next five years, said Craig Marlatt, executive vice president of Ross Wilson & Associates. The Amherst-based development company is taking the lead in the project.
Pending final municipal approval and a green light from the New York State Attorney General's Office, construction and marketing will begin later this summer, with the first units ready to welcome homeowners by next summer.
Marlatt said his company originally wanted to construct a series of midpriced townhouses, but an internal consumer and marketing survey found a stronger demand for upper-end residential units.
"Ellicottville is really one of those special places that has that certain appeal," he said. "All of our research tells us there is sufficient demand for high-end homes in Ellicottville."
The townhouses will be marketed to a diverse market including Toronto, Pittsburgh and Cleveland, he said.
Broadcast Media Ideas, a Cleveland-based marketing firm whose clients include the Ellicottville Chamber of Commerce, has been retained to attract buyers.
Tim Kupinski is an architect with Foit-Albert Associates, the Buffalo firm hired to design the complex. He said Morningside Estates will play off of Ellicottville's picturesque background.
The units will come with a drive-in garage and two stories of living space. The development will have two- and three-bedroom models. All will have stone fireplaces in the interior and the option for exterior stone fireplaces. Another highlight: a two-story wall of glass offering a panoramic view of Ellicottville and the surrounding area.
"We tried to design something that's unique and doesn't look like all the other new units being developed in Ellicottville," Kupinski said.
Morningside Estates is the latest development in a residential and commercial building boom in Ellicottville. The town has issued or is considering issuing more than $250 million in building permits, including several new townhouse and condo complexes and a series of improvements and upgrades to Holiday Valley and HoliMont.
For more information on Chautauqua Lake Real Estate & Living visit: www.chautauqualakehomes.com
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