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<br />constructed within the development. The price of a single family lot ranges from $8,000 to $60,000, <br />and the price of a single family home ranges from $50,000 to $500,000, with the average cost of a <br />home being approximately $110,000, The primary use of lots sold is expected to be for second or <br />vacation homes, or retirement homes. As of July 1, 1992, Fairfield Pagosa contained approximately <br />1,634 living units and had an estimated full time resident population (residents within the development <br />for more than 182,5 days per year) of 1,822. <br /> <br />2.1.6.2 Commercial Development <br /> <br />Commercial development within the District is located adjacent to U.S. Highway 160 in the central <br />portion of the District. The Fairfield Lodge contains 100 rooms, banquet and conference room <br />facilities, two restaurants, a lounge, indoor swimming pool, the Toggery Clothing store, and The <br />Emporium gift shop. Located east of the lodge is the Pagosa Village Center which is planned for <br />approximately 14,000 square feet of retail/commercial space. The Village Center currently consists <br />of one building encompassing approximately 8,300 square feet of leasable space which is 40 percent <br />leased, Major tenants include a U.S. Post Office, a bank, and the Pagosa Village Center Real Estate <br />Office, Additional commercial development within Fairfield Pagosa includes a car wash, a Texaco <br />gas station, a food mart, a liquor store, an ice cream parlor, a fire station; a church, and a <br />laundromat. <br /> <br />2.1.6.3 Recreational Development <br /> <br />Fairfield Pagosa provides a wide array of recreational activities. In addition to facilities available at <br />the Fairfield Lodge, recreational facilities include the Pines Gold Course, an 18-hole P,G.A. rated <br />golf course; the 9-hole Meadows golf course, the Pagosa Racquet Club, with seven regulation tennis <br />courts; the Pinon Lake marina; a Cross Country Ski Center with over 7 kilometers of ski-training <br />trails; a children's playground; and a miniature golf course. Such facilities are owned and operated <br />by Fairfield Pagosa, Inc., the primary developer of Fairfield Pagosa, and currently are for sale. In <br />addition, the Fairfield Pagosa Property Owners Association has tiled a lawsuit to acquire the <br />recreational amenities currently owned by Fairfield Pagosa, Inc. <br /> <br />2-6 <br /> <br />S9S\PAGOSA\S2.TXT <br />10/27/'12 IDI1I <br />