Sugarbush Resort’s Gadd Brook Slopeside development project, sixteen ski-in/ski-out condominiums at the base of Lincoln Peak, began construction last week. The resort received the necessary permits required for the project in May (Town of Warren) and mid-June (Act 250). A groundbreaking ceremony was held on Friday, June 19th to celebrate the project’s inception.
Gadd Brook Slopeside is the next phase of residential development at Sugarbush’s Lincoln Peak. Gadd Brook is named after the resort’s founders, Damon and Sarah Gadd, who opened Sugarbush on Christmas Day in 1958. Gadd Brook is designed by The Design Group of Warren, Vermont, the same group that designed Rice Brook Residences—fifteen slopeside homes in three buildings at the base of Lincoln Peak. Rice Brook Residences were completed in 2013 and are completely sold out, and units at Clay Brook Hotel and Residences—the resort’s 61-unit 2006 project which includes hotel rooms to five-bedroom suites—are largely sold out. Vermont-based Naylor and Breen Builders is the general contractor for Gadd Brook.
Win Smith and Adam Greshin of Sugarbush Resort, pictured with Rob Naylor of Naylor and Breen Builders.
“There is always a lot of planning that goes into starting a project like this, and I am grateful to the team I have here who worked so hard to get us to this point,” said Win Smith, president and majority owner of Sugarbush. “Gadd Brook Slopeside will take the form of one building housing sixteen two-, three-, and four-bedroom homes with extraordinary views. It is going to be a special place.”
In 2004, Sugarbush worked with the EB-5 financing program to raise $20 million for development of the Lincoln Peak base area. Of the forty investors in the resort’s EB-5 program, 18 investors have been redeemed. According to Smith, proceeds from the sale of Gadd Brook will go towards redeeming the other 22 investors in the program.
Warren, VT (June 24, 2015) – Sugarbush Resort. Top Photo: Future location of Gadd Brook Slopeside, 16 private homes at Sugarbush’s Lincoln Peak. Photos by John Atkinson for Sugarbush Resort.