Prudential Utah agents had their weekly sales meeting at Promontory on Tuesday. Managing Director, Rich Sontag shared very positve real estate figures as well as improvements and changes currently underway at Promontory.
- Club Membership: There are two catagories of Club Membership at Promontory; "Social" which includes all amenities except golf and equestrian and "Full Club" which includes all amenities except equestrian. Membership is tied to ownerhip of property at Promontory and will now include the owner/member, his/their children and the owner/member's parents, therefore making Promontory Club truly multi-generational.
- Physical Improvements: Promontory is currently planting 1,400 Evergreens and Aspens at a cost of $1 million throughout the development. A dog park is under consideration; location to be determined. A $500,000 renovation of the Club House and a remodel of the Pool Cafe are underway and a new swimming pool shall be built by the tennis courts and is scheduled to be completed by next summer.
- HOA: The HOA is very healthy and has $2 million in reserves.
- Real Estate: Current inventory of homes in Promontory is now trading at above replacement cost. This had not been the case the last several years. According to Sontag, it now makes sense to purchase a homesite and build.
- Limited Special Release of Homesites: Promontory has just introduced a new release of homesites called The Private Collection. This collection includes 19 homesites ranging in size from .88 to 7.07 acres. The price range is from $395,000 for a 1.40 acre treed parcel in the Aspen Crest neighborhood to a fabulous 1.27 acre parcel on the golf course for $725,000 in Promontory Ridge. Special pricing for properties in The Private Collection applies to contracts executed prior July 31, 2013. Buyers may receive a Fully Sponsored (no out of pocket) Full or Social membership with these selected homesites; dues payment must commence on issuance or the Buyer may chose to defer issuance of this membership for up to 2 years. If membership is issued upon closing, Buyer will be eligible for $2,500 in Club credits (Food & Beverage and Soft Goods).
- Dye Course Cabins Limited Special Release: The Private Collection also includes a release of six Dye Course Cabins located within walking distance of Promontory's Outfitters Cabin. Three different floorplans range in size from 3,300 to 4,500 square feet. Private Collection pricing ranges from $1,470,000 to $1,805,000 and is available on contracts executed prior to July 31, 2013.