Schaffer’s Mill

Schaffer’s Mill

Thursday, June 16th the local Real Estate community was invited to a reception put on by the new owners of the property formerly known as Timlick and now re-named “Schaffer’s Mill”.  The subdivision is located in the Martis Valley, just the Truckee side of Northstar, on a private road named Schaffer’s Mill Road.  There it resides, alongside the two other resort communities:  Lahontan and Martis Camp.

Currently there is just one completed home in the subdivision and quite a few luxury town homes.  The home is privately owned and is now on the market for 2.2 million dollars.  The town homes, which are elegantly appointed, are being sold by the current developer and range in price from 700k to 900k with a 10% “founders’ discount” opportunity offered.  Also for sale are the first offering of developed lots which range in price from 230-330k.

I was impressed by the property.  The 18 hole golf course which is currently there and open, is a Johnny Miller/John Harbottle design and according to the developer it os one of Golf Week Magazine’s “Top 100 Residential Courses for 2010.”. To the untrained, non-golfer’s eye (mine), it is one of the most beautiful I have ever seen.

We got the lowdown on the amenity package too.  Right now the only amenity that has bee installed is the golf course but a lot of exciting promises were made for the near future.  The plan is to have a 47′ Yacht on Lake Tahoe which will be at the disposal of the members.  There will also be swimming pools, hot tubs, fitness center, restaurant, clubhouse, outdoor pavilion, tennis courts — many other facilities.  You might ask, what will this cost?  First of all there are 2 packages.  The initiation fee for each is $1000 for now.  The golf package’s dues are currently $4500 per year and when the club facilities are completed they will raise to $7800 annually.  The social membership package dues which will include all amenities except golf, will be $2700 annually once the club facilities are completed.  By the way, currently there are plans to have these memberships open to non-property owners.

Of course there are additional Homeowners association dues – $150 per month and if you purchase a town home an additional $350 per month.

If you would like more information on this property, be sure to contact us.

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