Monte Sereno History

The original developer and the City of Santa Fe settle long running litigation regarding the development of the 600 acres to be called Monte Sereno via the “1993 Annexation and Development Agreement”. In that agreement, the 600 acres becomes entitled to be 275 single family estate lots, 55 cluster lots, and a 36 acre site for either a 250 room hotel, 24 estate lots, or 75 smaller lots. Key to the agreement is that it settled the lawsuit and was
overseen by a judge. The property enjoys a secure source of water, irreplaceable entitlements, and the layout of the lots surrounded by unparalleled mountain vistas which eventually leads to unprecedented sales success.

Don Beauregard, along with partners and the Kimmerer Family, purchase the property from the previous developer/bank, and begin to lay the framework for the project. Primary of which is the east entrance to the property created when 84/285 is modernized and the Tesuque/Opera/Monte Sereno intersection is created.

In November, the first 60 lots were released to the market through the #1 real estate firm in Santa Fe, French and French Fine Properties and Paul McDonald as the head of sales – and by December of 2005 all 60 lots have their infrastructure completed and the developer successfully closes on the first 60 lots.

In February, with pent up demand for Monte Sereno’s big views, the developer releases 60 more lots again with French & French/Sotheby’s International Realty and Paul McDonald as the head of sales – and sells all 60 lots in one day! As impressive, all 60 lot’s infrastructure is complete and all lots closed by the end of the year

The recession hits (as predicted by the ownership team citing a looming “Housing Bubble”), and with no entitled lots on the market, the developer is uniquely poised to ride out the storm. No developer lots are released for sale until 2019 with the long-anticipated release of “Los Panoramas” in the NW section of Monte Sereno.

The Kimmerer Family, after the tepid recession and post-recession market, put Monte Sereno up for sale, and Jim Whipkey becomes the owner of the remaining 300 acres, and he retains all development rights granted in the 1993 Annexation and Development Agreement.

With a new management team anchored by the previous head of development Don Beauregard, operating manager Al Lilly, and owner Jim Whipkey – they release and sell out the eight “Compound Homes” in the newly gated section of Monte Sereno with Sotheby’s International Realty and Paul McDonald once again heading the marketing effort. This begins the success of the “Santa Fe Contemporary” style that has dominated Santa Fe ever
since, with Monte Sereno being one of the major forces in this endeavor. Constructed by Odai Construciton and Solterra, they are a resounding success in the marketplace, portending future successes for these gated high-end homes.

The new development team releases 23 lots in the northwest section of Monte Sereno calling it “Los Panoramas,” with Sotheby’s International Realty and Paul McDonald again leading the marketing effort … which subsequently sells out in a couple of years. These signature lots are endowed with some of the finest views in Santa Fe and the entire subdivision, with an unparalleled average price in the $400,000 range – cementing Monte Sereno as the premier view subdivision in all of Santa Fe.

Sensing a swing in the marketplace, developer Jim Whipkey teams up with the top builder in Santa Fe (Kim Dressel), and releases contemporary spec masterpieces in the Los Panoramas section of Monte Sereno, and within 60 days of release contracts with buyers to close on two homes in the $4M price range, at a price point of $900 to $1,000 per square foot (a record for the Santa Fe marketplace).

Continuing the vision of The Compounds, Eight Enclave homes are released promoting big views, close to town location behind a gate, with easy one-level living and top-of-the-line finishes. Price from $2M – $3.5M, these homes embody Santa Fe style with turn-key lifestyle.