Some great real estate clients gave me the heads up on an editorial in High Country News this last week regarding the Amanagiri Resort and Spa at Lake Powell.
Jonathan Thompson, the editor of High Country News, wrote the piece, which asks the questions ~ why Big Water and why Lake Powell?
He gives a pretty colorful take on the history of Big Water, which indeed it has been colorful. He then states “Big Water may also be on the brink of becoming a multimillionaires’ mecca. A couple of months ago a handful of 5,100 square-foot homes – each with floor-to-ceiling windows and a pool replete with meditation platform – went on the market, each going for a cool $7 million. These “villas” are part of the ultra-exclusive Amangiri Resort and Spa, which is emerging from the red rocks and dust not far from town.”
That is a great description of what Amangiri is offering in the way of real estate at their resort.
The editorial then makes the point Big Water, Lake Powell and the Page area are not like the other resort areas of Sedona, Telluride and Vail which have become the standard of the ultra-rich and their huge homes.
I agree with him. The Big Water, Page, Lake Powell area is not like them, nor should we be. This was a roughneck area that started while building Glen Canyon Dam. Page, AZ, is the most remote town over 5000 people in the lower 48.
While the editor agrees that this area may be one of the most beautiful on earth, he questions with the current economic situtation, can this resort, and it’s villa’s, find a clientèle. Watching the news of the last week, it’s difficult to tell, but it does not seem as if the uber-rich are going to be too affected by the government financial bail-outs.
As one of the 400 residents of Big Water, my hope is the Amangiri experience does not start a “run” on our local real estate and this area turn into the next Telluride , Aspen or Sedona. This is the area my children call their “homeland”. It would be a shame if the wild spirit that started settling this area in the late 1950’s ends up totally priced out of the housing market.
On the other hand ~ Cheers! to the economic development and job creation that will follow the successful launch of the Amangiri Resort.