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North Fork Real Estate

November 13th, 2010 by Mike Jackson

Filed under Opinion

Oxbow Owner Buys 2400 acres – $7 million
Well, it’s getting to be that time of year when the real estate business gets kind of quiet, as if it wasn’t quiet enough already! That’s not to say that nothing is happening, it looks like the North Fork area is going to lead the county in sales for the year (vs. the Delta and Surface Creek areas) and I’ll have a comprehensive recap of 2010 sales next month after they have been fully compiled.

Whatever the bottom line is, the biggest of those sales will pale in comparison to the $7,000,000 transaction which closed on Monday, December 13th when Tom and Susan Alvey conveyed 2400+ acres north of Hotchkiss to Bear Ranch LEX, LLC. Although obviously noteworthy, it’s not just the size that makes it of general interest, it’s who the buyer is that stirs our curiosity.

The Bear Ranch name and it’s owner William I. Koch are on their way to becoming household names locally – if they aren’t already. From ownership of the Oxbow Mine, Gunnison Energy, the former Crystal Meadows Resort, The Bear Ranch, and now this – with rumors of more, bigger, purchases to come – Mr. Koch has made himself known to the North Fork.

The land just acquired falls roughly between 3100 and 3300 roads, mostly north of L50 road and is adjacent on the southwest end of a significant chunk of BLM that runs east clear to Midway (north of Sunshine Mesa) and north to Oak Mesa where Gunnison Energy drilled an exploratory well this summer.

Much of the land is typical juniper forest but the irrigated ground along Leroux Creek came with exceptional water rights with decrees from the late 1880’s, 1890’s, and early 1900’s. The mineral rights were likely also part of the deal since almost all of the original land patents issued in the valley did not reserve them. So is this transaction about cows or coal?

Recognizing as Mark Twain did, that a lie can travel halfway around the world while the truth is putting on its shoes, I decided to call Mr. Alvey himself, to see if I could get a comment or a little insight. Understandably he had little to say; just that he intends to continue farming and plans to stay in the area.

A person would have to go back to Julie Littlefield’s purchase of what is now the Scenic Mesa ranch to find one that compares. We can only hope that Mr. Koch will be as good a neighbor and friend of Hotchkiss and the North Fork as she has been, and as have been the Alveys. The real estate deal may be done but I suspect that it is only the first chapter in a story that will continue to unfold.

Although I sometimes feel like the bearer of bad news, it has been my pleasure to write this column and I appreciate the comments I receive from time to time. As the Merchant Herald goes electronic, this column will become a blog and Gloria tells me that readers will have the ability to comment right there. Hopefully it will become a site where we can share ideas and information about this lovely valley, how it is shaped by the people who live here, and how the valley shapes us.

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