Among those attending were Eagle County Commissioner Tom Stone, Avon Mayor Buz Reynolds, and Town Manager Larry Brooks. Also in attendance for the ceremony were Avon Town Council members, representatives of Avon�s planning department and other governmental agencies, including the Colorado Department of Transportation. As were Bruce Ivins of the architectural firm Parkhill Ivins and E. J. Olbright of CFC Construction.

Tim Barton, President and CEO of JMJ Holdings, the Dallas based International Development firm, which bought the property earlier this year, spoke to the group both at the ground breaking and at the luncheon following the ground breaking at neighboring Mirabelle Restaurant at Beaver Creek. Pieter Van Der Hammen, JMJ�s Vice-President for Europe, as well as investors, including Niek Monteban and Fritz Nieboer, joined Mr. Barton at the ceremony.

Barton described �The Gates�, once known as the Chateau St. Claire, as consisting of 46 four- three- and two bedroom fractionally-owned luxury residences and six deed-restricted units. With a cost expected to exceed $50 million, the 130,000 square-foot Gates will also include such onsite amenities as a private spa, lobby, bar and library.  Barton added that once in operation, �The Gates� would focus on service, �Our concierge staff will provide the ultimate �turn-key� experience for our owners.� JMJ�s CEO noted that �The Gates� ownership formats and prices are at this time under design and will be announced shortly. A grand opening for LATE 2005 is tentatively projected. 

Mayor Reynolds welcomed Barton and his JMJ Holdings team to Avon, noting that their record of accomplishments in developing high-end properties internationally is superb and their presence in Avon will enhance the community. Barton responded that the Avon property and its development plans comprise a �perfect fit� for his company and investors. He also thanked the community for its support in this luxury residence club. 

Jerry Jones, local representative for JMJ and President of Avon-based Jerry D. Jones & Associates Real Estate, introduced the project's former owners to JMJ. "I have known Tim and his company for many years and have always been impressed by the quality they instill into each of their projects.� Mr. Jones adds, �JMJ's philosophy regarding luxury properties ensures �The Gates� will share the same standards as such properties as the Ritz-Carlton Club in Bachelor Gulch and other comparable high-end properties in Beaver Creek."

Dallas-based JMJ Holdings has a long history developing high-end properties.  In business for more than 15 years, the company's combined transactions of its projects exceed a value of $2 billion. Current JMJ projects include major Rosewood resort properties in Mexico, such as La Solana, a collection of 83 hotel suites and five member-owned Estate Villas on the ocean at Punta Mita, north of Puerto Vallarta and Laguna Kai resort, a 120 suite condo-hotel, south of Cancun.   Also in Mexico is another Rosewood property, the exclusive Las Ventanas in Los Cabos. This resort has received numerous international awards, including being listed as Mexico's Number One resort and Mexico/Latin & South America's Number Two resort on the prestigious Gold List of Conde Nast Traveler magazine. At the present time, JMJ is also initiating development of Cabo Pacifica, the newest and most exclusive resort in Cabo San Lucas, as well as the Tangara Palace Hotel and Resort in Sao Paulo, Brazil.