Most properties listed for sale in Telluride are dated and lack today’s amenities that luxury property owners want. New construction is rare given construction challenges in this location… weather is a real thing in Telluride. This developer recognized an opportunity to bring something fresh to the market in a more streamlined and cost effective way by using modular construction. In recent years, modular construction specs and materials have grown into the luxury category.
Modular companies build sections of the home in climate controlled warehouses where weather is not a factor. But these companies also require progress payments along the way. Traditional construction lenders process draw payments as the home is constructed – on the lot. Most are not able to accommodate progress payments for the construction phases when this occurs offsite.
At SFG, we can facilitate this type of construction loan, especially when the modular builder is open to working with us to structure the progress payments in a fair and equitable way. The benefits to the developer are substantial as it cuts the build time in this location in half.
The home is now listed for sale in plenty of time for ski season.