Dos Rios at Ute Lake is the first luxury residential community to be developed on the the north shores of Ute Lake near Logan.
Dos Rios, or two rivers, borrows its name from the intersection of the Canadian River and Ute Creek at the development site.
Over two years in the planning, it is being developed by several Logan real estate developers and investors, said Bunny Terry of Ute Lake Premier Properties, headquartered in Logan. Principles of Premier Properties are investors in the project and Premier Properties is the exclusive agent for the development.
The 77-acre site was the last piece of land owned by the Simms family. The original Simms Ranch was comprised of 56,000 acres surrounding Ute Lake, Terry said.
Of the 74 lots that are currently being offered for sale, 22 are lakefront lots, each with at least three-quarters of an acre.
“We expect to have all the lakefront lots sold by the end of the summer,” Terry said.
In all, there are 92 lots in the development.
Dos Rios at Ute Lake is being developed by Dos Rios Land, LLC. T.J. Smith, one of the principles of Dos Rios Land, LLC, said in the company’s press release, “Recreational and resort properties are among the hottest trends in the real estate market today, and at Ute Lake, the stability of our water levels insure that the market is only going to get better and better.”
Premier Properties provides buyers with a list of builders and a Logan builder, K2 Custom Homes of Logan, which has ties to Premier Properties, which is also one of the homebuilders, Terry said.
Dos Rios features underground electricity, fiber optic technology and city water. Lines will also be installed to allow the eventual connection of each lot to the Village of Logan’s municipal sewer system. The timeline for installation of city sewer lines is by June 15, Terry said.
The Village of Logan has a multi-million dollar sewer project in the planning.
Amenities for Dos Rios residents will include a swimming pool and clubhouse, with an exercise room and community meeting rooms. Common areas will include jogging paths and public fishing and beach areas.
Lot prices range from $75,000 to $495,000. Currently, the first 17 buyers who have reserved lots are on a priority list. As soon as those buyers have selected their lots, lot purchases are open to the general market, Terry said.
The development is expected to be built out in about seven years and be valued at between $15 million and $20 million when complete, Terry said.
For more information about Dos Rios visit www.utelakeproperties.com.