Prestige Real Estate firmly supports the development of the Killington Resort Village for several reasons:
New construction will raise real estate values and heighten interest in existing properties. Some people have argued that new residential construction (both homes and condominiums) will have a negative effect on Killington real estate.
We believe just the opposite. Having been involved in several new construction projects (Winterberry, The Lodges, Topridge Duplex Homes and The Vistas), we have seen how new construction has had a positive impact on the market value of nearby property.
New construction will bring new buyers to our region. Several buyers with whom we have worked were also considering new construction at other ski resorts. Had we not been able to present to them new projects in Killington we strongly believe they would have bought elsewhere. The new residential units to be built at the "Village" will excite buyers who have complained about the lack of "new product" in Killington.
The Village will bring back skiers who have left for other areas. Skier visits to Killington have declined over the decade from well over a million to just over 600,000. We need to attract new visitors and we need to convince people who have left Killington (for other resorts with a village) to return. Those who worry about traffic on the access road or overly crowded conditions on the mountain forget that we have the capacity for a significantly larger number of visitors than are currently here.
New commercial development will create an incentive for existing businesses to make improvements. New retail/commercial space is of concern to some but we believe that new competition is beneficial to everyone. More traffic coming to the area will benefit existing businesses as well as new businesses. In addition, existing businesses who have become complacent may be forced to update, benefiting all customers and ultimately themselves.
Construction of the Village will bring a substantial number of jobs to Killington. There will be many new jobs for people year round helping to stimulate business during traditionally slow periods.