A Bend, Ore., man is developing a 114-lot subdivision just east of Pinehurst, Idaho, thats estimated to have a value of more than $51 million when completed.


Mark Phillips, a Realtor with Coeur dAlene-based Century 21 Beutler & Associates, which is marketing the project, says home prices at the 142-acre Silver Meadows at Frost Peak development will range between $300,000 and $900,000. He bases his total project value estimate on an average price of around $450,000 per home.


Pinehurst is located about 25 miles southeast of Coeur dAlene, along Interstate 90.


The Bend man, Roald Ramsey, is developing the Pinehurst project through a company hes formed there called Silver Meadows Development Inc. That company is developing the subdivisions infrastructure, then selling lots to builders and individual home buyers.


Ben Copley, project manager for Silver Meadows Development, says about 10 homes have been completed so far and work is under way on several more.


Phillips says initial work on the Silver Meadows project began two years ago, and that the paving of some streets in the last of the projects three phases, near the Pinehurst Golf Course, is the biggest piece of infrastructure still to be completed.


Copley says Wildwood Construction LLC and Ridgeview Homes LLC, both of Coeur dAlene, plus two home-building companies from the Silver Valley, are building homes in the project. He says lot sizes there vary between one-quarter of an acre and 8 acres, and the homes built there will range in size between 1,800 square feet of living space and more than 3,000 square feet of space.


Phillips says, Although the mix of buyers for Silver Meadows homes includes locals and people who want to commute to Coeur dAlene, the majority of our buyers are looking for second homes. He says people buying homes there are from outside the region.


Built on what was once a dairy farm, some of the Silver Meadows property has elevated views to the west overlooking Pinehurst and Pinehurst Golf Course.


Phillips says some of the home prices include lifetime memberships in that course, and that much of the development will be left in a natural, undeveloped state that will be managed by a homeowners association.


Contact Rocky Wilson at (509) 344-1264 or via e-mail at rockyw@spokanejournal.com.