Holimont Ski Area generated $2.73 million from auctioning 17 single-family residential lots at the Ellicottville private ski area, said Cash Cunningham, whose firm oversaw the process.
Holimont used the auction to bring in funds to pay for infrastructure development at the WestMont Ridge, a new development above a planned lodge and ski lift.
Holimont had actually put 31 of the “ski-in/ski-out” lots up for auction, but it ended the process after raising enough money to cover the planned infrastructure costs, Cunningham said.
“Their hope was to get that done with as few lots possible,” he said.
Cunningham declined to reveal the range of prices bidders paid for the lots, but the auction averaged about $160,000 per lot. The sold lots ranged in size from 0.31 acres to 0.59 acres, and will have road, water, sewage and gas access, once that work is completed.
The auction attracted interest from area buyers, as well as from Southern Ontario and neighboring states. One of the buyers was from North Carolina, Cunningham said.
Holimont on its website says the 14 lots which were not sold at the auction are available for purchase at a “pre-constructed” price of $160,000, and that the price of the lots will increase once the infrastructure construction is finished.