Reimagining Vermont Ski Real Estate: A Transformative Opportunity for Developers and Investors

​



Daniel Kaufman | Real Estate Developer

As a real estate developer focused on creating value in resort communities, I’ve seen firsthand how thoughtful projects can deliver strong returns while addressing key industry pain points like workforce shortages, seasonal revenue dips, and overcrowding at mega-resorts.

Vermont’s ski market is booming. Major players like Killington are pushing forward with a $3 billion, 25-year village expansion that includes thousands of residential units, workforce housing commitments, and year-round amenities. Okemo’s base-area communities have driven impressive appreciation and occupancy under Vail Resorts. Smaller, underutilized mountains offer similar upside—at lower entry costs—with existing infrastructure ready for revival.

We’ve identified a promising mountain in Vermont for this transformative opportunity, and we’re actively exploring how to bring this vision to life. While we can’t disclose the specific location just yet (stay tuned—we’ll share more soon), the core plan aligns perfectly with reimagining skiing for a more sustainable, inclusive, and year-round future.

Why This Approach Could Truly Change Skiing—and Deliver Investor Wins

This concept—revitalizing a smaller ski area with integrated housing, premium amenities, and multi-season appeal—could deliver robust ROI through property sales, professional rentals, and diversified operations.

Key investment highlights:

  • Mid-priced townhomes ($400K–$600K range) clustered around the base target middle-market buyers and investors, filling the gap between luxury and entry-level. Pair with a boutique hotel and professional rental program for 70-80% occupancy targets, generating cash flow from day one.
  • Ski-in/ski-out single-family homes built higher up the mountain command premiums (comparable to Killington/Okemo listings at $1M+), appealing to affluent second-home owners seeking seamless access.
  • Workforce housing across the street from the base solves a critical bottleneck—Vermont resorts face chronic staffing crises. This builds community goodwill, secures reliable talent, and may qualify for incentives.
  • Base lodge clubhouse featuring event space, a chef-driven restaurant, and bar: Monetize through weddings, corporate retreats, and après-ski, adding strong non-ski revenue streams.
  • On-mountain operations: Two efficient lifts servicing diverse terrain with 100% snowmaking coverage on 1,400 vertical feet (expandable to 2,000 ft in future phases). Low crowds = high guest satisfaction and repeat visits.
  • Summer activation: Mountain biking trails and outdoor concert series transform the mountain into a four-season destination, turning fixed costs into profitable revenue (mirroring successes at Okemo and Mount Snow).

Here are some inspiring visuals:

True ski-in/ski-out homes deliver that magical, seamless mountain lifestyle:


Year-round vibes with summer mountain biking and outdoor events:


Private Club vs. Real Estate Amenity Model: Investor Perspectives

A pure private club model ($75K initiation memberships) provides exclusivity, predictable dues revenue (~$1M+ annually at scale), and minimal public operations hassle—ideal for high-net-worth stability. However, it can limit broader appeal and growth in community-focused Vermont.

The real estate-centric model (skiing as the star amenity) maximizes upside: Sell 50-100 units for $50M+ gross proceeds, rentals yield 5-7% cap rates, and semi-open access draws day-trippers. A hybrid approach—owner perks plus optional club tiers—could offer the best of both worlds.

Ideas to enhance returns:

  • Phase financing: Sell townhomes first to fund lift upgrades and expansion.
  • Sustainability edge: Incorporate green building, solar, and efficient snowmaking for ESG appeal and potential grants.
  • Strategic partnerships: Explore ties to Epic/Ikon passes for broader marketing reach.
  • Exit strategy: Strong potential for REIT or resort group acquisition post-stabilization.

This direction has blockbuster potential in Vermont’s thriving market—exciting times ahead for developers and investors who prioritize thoughtful, community-oriented projects.

What’s your take on financing structures, density targets, or key amenity must-haves? Share your thoughts as we prepare to reveal more details soon!

Daniel Kaufman
Real Estate Developer



Comments

Post a Comment

Popular posts from this blog

Project Skiway: Revolutionizing Workforce Housing at Sunday River with Modular and 3D Printing

Image
​ The slopes of ski resorts offer unparalleled beauty and exhilaration, but behind every perfectly groomed trail and steaming hot cocoa lies a complex operation powered by a dedicated workforce. From lift operators and ski instructors to hospitality staff and maintenance crews, these individuals are the lifeblood of the winter economy. Yet, across North America, a silent crisis is threatening this very foundation: affordable workforce housing. We believe in innovative solutions to pressing problems. That’s why we’re thrilled to announce Project Skiway , a groundbreaking initiative to tackle the ski resort housing crunch head-on. Our pilot program kicks off at one of the East Coast’s most beloved destinations: Sunday River in Newry, Maine. The Unseen Challenge: Workforce Housing at Ski Resorts The problem is stark. Ski resorts are often located in remote, picturesque areas where land is scarce and property values are soaring, driven by second-home buyers and vacation rentals. This cr...
Read more

The Great Migration: Why Multifamily Developers Are Betting Big on Low-Density America

Image
By Daniel Kaufman www.danielkaufmanre.com Forget the skyscrapers—for the first time in a long time, the real action in multifamily construction is happening far from the urban core. Developers are planting their flags in places most of us weren’t watching a few years ago: suburban fringes, micro counties, and even rural regions. The numbers aren’t subtle—they’re loud. According to the latest Q1 2025 Home Building Geography Index (HBGI) from the National Association of Home Builders (NAHB), multifamily construction in low-density areas is booming. Meanwhile, big cities—especially core counties in major metros—are seeing a pullback in new development. This shift is not a blip. It’s a full-on structural rebalancing of where housing is being built—and it has major implications for how, and where, we deploy capital going forward. 📊 The Data Behind the Shift Here’s what the numbers say: Multifamily construction in low-density areas—including micro counties and outlying metro areas—jumped f...
Read more

Why I Think Burlington, Vermont Is the Most Overlooked Real Estate Market in America

Image
When people think about hot real estate markets, Burlington, Vermont probably isn’t the first place that comes to mind. And that’s exactly why I’m so bullish on it. Quietly and consistently, Burlington and its surrounding towns are showing all the signs of a breakout market—and most developers are still asleep at the wheel. We’re not. We’re launching two new multifamily projects and one build-to-sell (BTS) community in the Burlington region. Here’s why we’re putting serious capital behind this area—and why I think more investors should take a closer look. Demand Is Strong. Supply Isn’t. The median home price in Burlington hit $555,000 this spring—up over 11% year-over-year. That’s not just appreciation; it’s a sign of limited inventory and serious buyer pressure. In April 2025 alone, the number of homes sold jumped by 185%, even as inventory only crept up by 22%. That’s a demand gap most developers would kill for. Burlington Has a Real Economy This isn’t a boomtown built on hype. Burli...
Read more