Real Estate In The News March 2019
ASPEN
D r o p - O f f Several Businesses Owed Money Recycling Fate by Aspen Club Up in the Air Five local businesses partnering with The days may be The Aspen Club said President Michael Fox owes them months of payment numbered for a for his members using their facilities recycling dropwhile the club remains closed and off center at Rio Grande Park as city construction stalled, the Aspen Times leaders debate the costs, benefits and reported. Owners of the Snowmass reach of environmental sustainability Club, Aspen Shakti, The Gym of efforts, the Aspen Daily News reported. Aspen and Altitude-Body Performance Pitkin County funds the pick-up and Center said that they have not been hauling of materials dropped at the reimbursed in recent months. The city-owned facility; since 2014, the Snowmass Club ended its relationship county has paid Waste Management with the Aspen Club. to haul materials to Denver, which Local Restaurants Receive Awards cost $225,000 last year. The Little Nell Hotel at the base of Aspen Mountain bested all Colorado lodges in U.S. News & World Report’s “Best Hotels” ranking, the Aspen Times reported. The five-star Nell came in at No. 19, ahead of The Broadmoor in Colorado Springs (No. 29), The Sebastian Vail, A Timbers Resort (No. 55), and The Four Seasons Resort and Residences — Vail (No. 100). Aspen Skiing Co. owns The Little Nell.
The county is going to discontinue funding that hauling contract in August as it re-allocates resources toward waste diversion programs housed at the solid waste center at the Pitkin County Landfill. Aspen City Council decided to pick up the tab to keep the hauling services running through the end of the year. Whether the city would pay for those services going forward will be decided by the Also, Steakhouse No. 316 located on fall budget planning meetings for 2020. Hopkins Avenue in downtown Aspen was ranked by the Food Network as the top steakhouse in Colorado. Married couple Samantha and Craig CordtsPearce own Steakhouse No.
SNOWMASS
Snowmass Center Plans Several Businesses Owed Get Initial Unveiling Money by Aspen Club The preliminary plans for the redevelopment of the Snowmass Center could bring 58,000 square feet of commercial and office space, 11,346 square feet of deed-restricted housing and about 100,000 square feet of freemarket housing on a 10-acre site, the Aspen Daily News reported. Developers plan to minimize the disruption to essential services like the grocery store and post office, which will be attempted by retaining some of the existing building that currently houses Clark’s Market — which underwent an extensive, multimillion-dollar rebuild of its own in 2014 — and the U.S. Post Office.
Five local businesses partnering with The Aspen Club said President Michael Fox owes them months of payment for his members using their facilities while the club remains closed and construction stalled, the Aspen Times reported. Owners of the Snowmass Club, Aspen Shakti, The Gym of Aspen and Altitude-Body Performance Center said that they have not been reimbursed in recent months. The Snowmass Club ended its relationship with the Aspen Club.
BASALT The Temporary Lives Up to Its Name The Arts Campus at Willits (TACAW) announced that The Temporary, the Basalt performance space in Willits Town Center, will be closing its doors for good on May 8, the Aspen Daily News reported. TACAW was informed by Willits developer Platform Ventures (formerly Mariner Real Estate Management) that Platform will not be renewing TACAW’s two-year lease on the rough space housing The Temporary.
The announcement means the end of the popular midvalley venue, but as its name suggests The Temporary was never intended to last forever, and its closing helps accelerate the timetable on The Permanent, TACAW’s forever home, which is going to be built on a different parcel in Willits. The Town of Basalt has a 99-year lease on the land, which is dedicated for a performing arts venue.
CARBONDALE River Valley Ranch’s New Owners Have Vision Dan and Wynee Coleman have big plans to rejuvenate the River Valley Ranch golf course, the Glenwood Springs Post Independent reported. After several months of uncertainty and a change in ownership, the golf course is on track to open in April.
to a year-round restaurant. The Colemans want to help RVR thrive not just as a golf course but be more inclusive of the 85 percent of the neighborhood residents who don’t golf, and potentially as a health and wellness resort for the community. They are also looking to build a The former Pan and Fork Restaurant, wellness center and boutique hotel now The Homestead Bar and Grill, is where the driving range currently sits. open for limited hours as it transitions
GLENWOOD SPRINGS Hanging Lake Reservation System Goes into Effect There is a new reservation and shuttle system for the popular national landmark just east of Glenwood Springs, the Aspen Daily News reported. During peak season, May 1 to Oct. 31, reservations will be required to board a shuttle that takes visitors from a welcome center in West Glenwood to the Hanging Lake parking lot. From there, one can trek to the site and back to the lot for the return shuttle to the center.
The cost will be $12. Biking and hiking to the attraction will still be allowed, but even for those on two wheels or on foot, reservations and payment are mandatory. Aside from bicycles, the parking lot will be offlimits to all vehicles except for visitor shuttles, emergency vehicles and other authorized users. Limitations were deemed necessary because of the massive increase in visitors in recent years: about 90,000 in 2013 to more than 186,000 in 2018.
PITKIN COUNTY Unattended Vehicles Now Towed from Airport The days of leaving your vehicle to greet friends and family at the Aspen airport are over, the Aspen Daily News reported. Unattended vehicle parking curbside at the terminal is being strictly enforced in compliance with federally mandated Transportation Security Administration security measures at all commercial airports.
Unattended vehicles will be towed to an off-site storage lot. There will be a $180 hookup fee, a $3.80-per-mile towing fee up to 14 miles, and a $30-perday storage fee. Drivers are reminded to communicate with travelers they may be picking up at the airport about this change. The first hour of parking in all airport parking lots is free.
Housing Shortage to Intensify by 2027 The Roaring Fork Valley region is expected to have a deficit of about 5,700 units of affordable housing for households earning less than the median income by 2027, according to the Aspen Times. But the region’s blue-collar workers are far from the only ones facing problems finding affordable housing. There is a “missing middle” in the affordablehousing market that looms as a major problem for the Roaring Fork Valley and Interstate 70 corridor between Eagle and Parachute.
There was a shortage of about 700 units in 2017 for households making between 100 to 120 percent of area median income and a shortage of 1,200 units for households at 120 to 160 percent of the median income. Those gaps are likely to intensify by 2027. The U.S. Department of Housing and Urban Development reported the median household income in Pitkin County was $98,000 in 2017 compared with $89,500 in Eagle County and $70,400 in Garfield County.
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