Real Estate In The News & Quarterly Market Updates - October 2020 by Mountain & Valley

Real Estate In The News & Quarterly Market Updates October 2020

332 W Main Street 101A Aspen $2,800,000

This is an opportunity to own a commercial building, rather than owning just a space within—and this isn’t just any building. This is a landmark Victorian on Main Street with a West End address. Hailing from a different era, this grand dame exudes charm with high ceilings, oak floors, tall windows, gracious porch and all the trim work you’d expect in a building of this time period, while still being incredibly functional. Used currently as a medical center, the property has the flexibility to suit almost any business with multiple rooms on each floor. Full height in basement means great storage. Triple Net lease in place until July 2024. Please do not disturb the tenant. This is a working business with customers. Call listing broker for showings and financial details. Tenant has right of first refusal.

Greetings Everyone! When we were again allowed to show property in late June after being shut down since March 13th, we brokers “thought” it was possible to have a good 3rd quarter. What city dweller wouldn’t want to live here? Town was full, Covid-19 numbers were down and everyone was happy to be spending time in our great outdoors. None of us in the industry could imagine we would do more than three and a half times the dollar volume we did in the same time period in 2019. There were 601 closed transactions in the third quarter of 2019 with a total dollar volume of $538,497,000. Our 2020 third quarter results were 994 closed transactions with a dollar volume of $1,878,874,405!!!! This is the largest dollar volume in the Roaring Fork Valley’s history with only one third more transactions which obviously speaks to sales in the higher price ranges. There were 21 properties that sold in 2019 over $10,000,000 but in 2020 there have been 72 sales of properties $10 million or more! (And we’re not done yet!) Where is real estate in Aspen and our little Valley headed in the future? Lend me your crystal ball! Best,

ASPEN

Chamber’s Debbie Braun Recognized by the State Debbie Braun, president and CEO of the Aspen Chamber Resort Association, received the Governor’s Award for Outstanding Individual Contribution to Colorado Tourism, the Aspen Daily News reported. Additionally, the ACRA team was given the Outstanding Community Tourism Initiative Award for achieving goldlevel status from the International Mountain Bike Association for mountain bike routes throughout the valley.

Hunt and his team purchased 465 and 557 N. Mill St. Hunt — which is zoned servicecommercial-industrial (SCI) for communityserving businesses — in 2018 for $15 million. Among the SCI tenants on the property are a laundromat, a second-hand sports store and a bike shop. The proposed redevelopment includes 63,220 square feet of residential area and 34,100 square feet of commercial space. Aspen City Council and Planning and Zoning members were lukewarm to the project, citing the need for rental housing but disappointed in sacriﬁcing an essential retail The state tourism oﬃce cited her “swift and center for it. ongoing response to the COVID-19 crisis” in contributing to the recognition, as well as Evan Boenning Named Realtor of the Year ongoing procurement of marketing funding Longtime Aspenite Evan Boenning was for Aspen, her 20-year career with ACRA and named 2020 Colorado Association of Realtors’ overseeing the chamber from a marketing Realtor of the Year, the Aspen Daily News organization to a management organization. reported. Boenning is a broker with Aspen Snowmass Sotheby’s International Realty Mark Hunt Propose Multi-Use Center on and he was recognized for his unwavering commitment to community and warm spirit Mill Street Aspen developer Mark Hunt proposed to toward everyone with whom he interacts. scrape and replace the city’s sole strip mall with a three-story, mixed-use structure Aspen Valley Hospital and Steadman Clinic consisting of free-market rental units and Finalize Partnership essential businesses, the Aspen Daily News Aspen Valley Hospital and The Steadman Clinic announced their formal strategic reported.

ASPEN continued

partnership, to commence Dec. 1, the Aspen Daily News reported. Under the agreement, orthopedic operations will merge under the Steadman brand, replacing OrthoAspen. Both parties said advanced medical technology and procedures are one beneﬁt of the merger. Additionally, Aspen Valley Hospital will come into the fold of the Steadman Philippon Research Institute, which currently boasts two contracts with the U.S. Department of Defense, has been awarded six grants from the National Institutes of Health and is underway on ﬁve clinical trials.

City Coffers Growing Thanks to Real Estate The Wheeler Opera House and the city’s affordable housing program were the beneficiaries of one whopper of an August for residential sales in Aspen, the Aspen Times reported. Housing coffers grew by $2.5 million in August through the collection of real estate transfer taxes from property sales in Aspen. That was 297.8% more than the $639,178 in RETT collections in July 2019 and nearly three times the $657,900 budgeted by the city for August. The Wheeler collected $1.3 million through the RETT in August, which was 278.1% greater than the $343,499 it made in August 2019. It also nearly tripled city projections, which forecast $334,300 for August.

Local Market Update for September 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Aspen September

Single Family

Year to Date Percent Change from Previous Year

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

Key Metrics

2019

2020

New Listings

+ 70.0%

135

181

+ 34.1%

Sold Listings

+ 400.0%

108

+ 54.3%

Median Sales Price*

$5,597,000

$10,250,000

+ 83.1%

$5,798,500

$8,250,000

+ 42.3%

Average Sales Price*

$5,303,894

$11,734,829

+ 121.2%

$7,190,809

$10,200,815

+ 41.9%

89.3%

93.8%

+ 5.0%

91.4%

91.5%

+ 0.1%

Days on Market Until Sale

168

173

+ 3.0%

251

195

- 22.3%

Inventory of Homes for Sale

178

121

- 32.0%

Months Supply of Inventory

22.7

10.6

- 53.3%

Percent of List Price Received*

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

September

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 100.0%

137

195

+ 42.3%

Sold Listings

+ 105.9%

109

117

+ 7.3%

Median Sales Price*

$2,055,000

$3,440,000

+ 67.4%

$1,850,000

$2,645,000

+ 43.0%

Average Sales Price*

$2,492,941

$4,029,709

+ 61.6%

$2,202,073

$3,823,482

+ 73.6%

93.8%

97.1%

+ 3.5%

95.1%

95.0%

- 0.1%

Days on Market Until Sale

148

141

- 4.7%

157

163

+ 3.8%

Inventory of Homes for Sale

110

104

- 5.5%

Months Supply of Inventory

8.6

8.4

- 2.3%

Percent of List Price Received*

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Aspen —

$8,000,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Aspen —

$2,500,000

$2,000,000

$6,000,000

$1,500,000 $4,000,000 $1,000,000 $2,000,000 $500,000

$0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

SNOWMASS

Snowmass Tourism Preps for Winter Snowmass Village is doing its best to prepare for winter guests while acknowledging that what the visitor numbers will look like is a great unknown, the Aspen Daily News reported. Some adaptations include restaurants being allowed to expand onto sidewalks with planters, plexiglass and electric heaters to keep visitors warm while dining outdoors. The town will provide blankets for diners and has been working with state liquor license authorities to allow for an increased footprint at dining

establishments. Nordic Center Will Not Open this Winter The Snowmass Cross Country Center will not reopen its doors this winter for Nordic ski rentals or lessons, the Aspen Times reported. The decision to close the center, which the Ute Mountaineer has operated out of the Snowmass Club’s golf pro shop in the Black Saddle Bar and Grille building for roughly 18 years, is a result of the Snowmass center’s continued struggle with staﬃng and low proﬁtability, and the ongoing coronavirus pandemic.

Local Market Update for September 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Snowmass Village September

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

0.0%

+ 8.6%

Sold Listings

+ 300.0%

+ 2.9%

Median Sales Price*

$5,820,000

$3,974,500

- 31.7%

$2,606,250

$3,587,500

+ 37.6%

Average Sales Price*

$5,596,667

$4,376,833

- 21.8%

$3,642,885

$3,892,892

+ 6.9%

84.0%

93.4%

+ 11.2%

91.3%

92.7%

+ 1.5%

Days on Market Until Sale

154

296

+ 92.2%

209

204

- 2.4%

Inventory of Homes for Sale

- 46.3%

Months Supply of Inventory

18.7

7.3

- 61.0%

Percent of List Price Received*

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

September

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 44.4%

144

167

+ 16.0%

Sold Listings

+ 233.3%

113

+ 20.2%

Median Sales Price*

$527,500

$1,097,500

+ 108.1%

$698,750

$835,000

+ 19.5%

Average Sales Price*

$920,567

$1,459,017

+ 58.5%

$1,009,571

$1,308,805

+ 29.6%

93.7%

95.9%

+ 2.3%

95.7%

94.3%

- 1.5%

Days on Market Until Sale

185

113

- 38.9%

194

191

- 1.5%

Inventory of Homes for Sale

151

- 41.1%

Months Supply of Inventory

12.4

7.3

- 41.1%

Percent of List Price Received*

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Snowmass Village —

$4,000,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Snowmass Village —

$900,000

$800,000 $3,000,000 $700,000 $2,000,000

$600,000

$500,000 $1,000,000 $400,000 $0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$300,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

BASALT

New Uses Considered for an Old Space An underutilized piece of property in the midvalley owned by the U.S. Forest Service could get repurposed for housing, recreation and open space through the Flexible Partnership Act that’s part of the 2018 Farm Act, the Aspen Daily News reported. In September, Sen. Michael Bennet (D-CO), White River National Forest Supervisor Scott Fitzwilliams, and elected and appointed oﬃcials from Basalt, Eagle and Pitkin counties walked the 72-acre site adjacent to Crown Mountain Park and discussed the future vision for the property. Public comment has been taken since June, and recommendations are forthcoming, according to both agencies.

Basalt Sales Tax Going Strong Tax collections were up 11.6% from August 2019 according to the Basalt sales tax report for August, which details information from July, the Aspen Times reported. Leading the way were grocery stores, building materials sellers, general retail, sporting goods retail and, of course, retail liquor. In a change from earlier months during the pandemic, restaurants with bars registered a strong 13.6% increase for the month compared with last year. Restaurants without bars didn’t enjoy the same surge. Sales were down 10.3%, according to the sales tax report.

Local Market Update for September 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Basalt September

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 100.0%

- 24.5%

Sold Listings

+ 266.7%

+ 41.0%

Median Sales Price*

$1,728,900

$1,600,000

- 7.5%

$1,060,000

$1,051,000

- 0.8%

Average Sales Price*

$1,502,967

$1,516,909

+ 0.9%

$1,356,766

$1,492,573

+ 10.0%

94.0%

95.4%

+ 1.5%

95.0%

95.1%

+ 0.1%

188

+ 168.6%

139

160

+ 15.1%

Percent of List Price Received* Days on Market Until Sale

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

Inventory of Homes for Sale

- 57.7%

Months Supply of Inventory

14.7

5.0

- 66.0%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

September

Townhouse/Condo

Year to Date Percent Change from Previous Year

Thru 09-2019

Percent Change from Previous Year

Key Metrics

2019

2020

New Listings

+ 66.7%

+ 3.8%

Sold Listings

+ 122.2%

+ 24.0%

Median Sales Price*

$512,000

$610,000

+ 19.1%

$557,500

$549,750

- 1.4%

Average Sales Price*

$588,035

$686,650

+ 16.8%

$618,981

$744,358

+ 20.3%

98.3%

97.9%

- 0.4%

97.5%

96.8%

- 0.7%

117

126

+ 7.7%

105

123

+ 17.1%

Percent of List Price Received* Days on Market Until Sale

Thru 9-2020

Inventory of Homes for Sale

- 71.4%

Months Supply of Inventory

7.3

1.6

- 78.1%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Basalt —

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

$1,200,000

$600,000

$1,000,000

$550,000

$800,000

$500,000

$600,000

$450,000

$400,000

$200,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$350,000 1-2015

1-2016

1-2017

1-2018

Entire MLS — Basalt —

1-2019

1-2020

Local Market Update for September 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Missouri Heights September

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 33.3%

Sold Listings

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

- 33.9%

+ 300.0%

0.0%

Median Sales Price*

$840,000

$1,957,500

+ 133.0%

$938,125

$1,210,000

+ 29.0%

Average Sales Price*

$840,000

$2,347,500

+ 179.5%

$1,041,457

$1,576,837

+ 51.4%

97.7%

90.1%

- 7.8%

94.4%

0.0%

187

+ 379.5%

155

209

+ 34.8%

Percent of List Price Received* Days on Market Until Sale Inventory of Homes for Sale

- 60.5%

Months Supply of Inventory

16.3

4.2

- 74.2%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

September

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

Sold Listings

Median Sales Price*

Average Sales Price*

0.0%

Percent of List Price Received* Days on Market Until Sale Inventory of Homes for Sale

Months Supply of Inventory

0.0

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Missouri Heights —

$1,200,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Missouri Heights —

$600,000

$500,000

$1,000,000

$400,000 $800,000 $300,000 $600,000 $200,000 $400,000

$200,000 1-2015

$100,000

1-2016

1-2017

1-2018

1-2019

1-2020

$0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

CARBONDALE

Multi-Sport Indoor Facility Opens Tommy Cox and Amanda Trendell, both former Division I athletes from the East Coast who currently coach the Aspen High School boys and girls lacrosse teams, recently opened Elite Performance Academy, a year-round, indoor sports training facility located just oďŹ&#x20AC; Highway 82 near Carbondale. With 5,000-square feet of turf, EPA caters primarily to lacrosse and soccer at the start, but with hopes of expanding to other sports in the future.

On top of the turf space, which is surrounded by safety netting, EPA has a full complement of equipment for weight training and cardio. They have everything a coach would need for practice, from balls to cones, can oďŹ&#x20AC;er up nutrition advice for athletes and even have the ability to record practice sessions for technical analysis and to help students with recruiting videos. The space is available for rent, whether for private training sessions, group practices or independent leagues.

Local Market Update for September 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Carbondale September

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 36.4%

208

166

- 20.2%

Sold Listings

+ 58.3%

122

145

+ 18.9%

Median Sales Price*

$808,500

$1,125,000

+ 39.1%

$822,500

$1,025,000

+ 24.6%

Average Sales Price*

$1,067,167

$1,415,901

+ 32.7%

$991,131

$1,238,375

+ 24.9%

92.9%

96.1%

+ 3.4%

95.7%

96.4%

+ 0.7%

Days on Market Until Sale

130

109

- 16.2%

130

135

+ 3.8%

Inventory of Homes for Sale

123

- 64.2%

Months Supply of Inventory

9.5

2.8

- 70.5%

Percent of List Price Received*

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

September

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 133.3%

102

- 16.7%

Sold Listings

+ 28.6%

- 4.7%

Median Sales Price*

$460,000

$625,000

+ 35.9%

$490,000

$550,000

+ 12.2%

Average Sales Price*

$564,357

$704,760

+ 24.9%

$583,098

$624,785

+ 7.1%

97.5%

99.8%

+ 2.4%

98.5%

98.9%

+ 0.4%

Days on Market Until Sale

110

106

- 3.6%

+ 2.1%

Inventory of Homes for Sale

- 44.7%

Months Supply of Inventory

5.8

3.2

- 44.8%

Percent of List Price Received*

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Carbondale —

$1,000,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Carbondale —

$550,000

$900,000 $500,000

$800,000 $700,000

$450,000 $600,000 $500,000

$400,000

$400,000 $300,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$350,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

GLENWOOD SPRINGS

Bustang Considers Expanding to Telluride The Colorado Department of Transportation is looking to expand its rural regional network, with the potential to add four new routes within the next year, with one of those being a proposed Grand Junction-to-Telluride route, the Aspen Daily News reported. Currently, the Bustang West Line runs weekdays between Denver and Grand Junction daily. Day-of tickets between Glenwood Springs and Grand Junction are $15. The company is hosting a survey for user feedback to determine the next routes. Redstone Castle Listed for $19.75 Million The historic and recently restored Redstone Castle is being listed for sale at a price of $19.75 million, the Glenwood Springs Post Independent reported. Known as the “Ruby of the Rockies,” the

Redstone Castle is located about 15 miles outside of Carbondale and 48 miles from Aspen. The 153acre property includes a carriage house, garages and horse arena, and early water rights and the right to build 20,000 square feet of additional cabins or cottages in private, wooded areas on the grounds. Home Sales on the Rise According to data from the Colorado Association of Realtors, single-family home sales in Garﬁeld County were up 86% in July as compared to July 2019, the Glenwood Springs Post Independent reported. The biggest increases in single-family home sales in July were in New Castle (up 128.6%) and Glenwood Springs (up 233%). Single-family home sales in every community from Battlement Mesa to Carbondale were up as well.

Local Market Update for September 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Glenwood Springs September

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 17.6%

194

205

+ 5.7%

Sold Listings

- 4.2%

121

159

+ 31.4%

Median Sales Price*

$530,000

$659,000

+ 24.3%

$573,000

$610,000

+ 6.5%

Average Sales Price*

$578,521

$940,476

+ 62.6%

$604,884

$680,124

+ 12.4%

97.9%

97.2%

- 0.7%

97.5%

97.7%

+ 0.2%

+ 50.0%

- 13.5%

Percent of List Price Received* Days on Market Until Sale

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

Inventory of Homes for Sale

- 58.2%

Months Supply of Inventory

5.6

2.0

- 64.3%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

September

Townhouse/Condo

Thru 09-2019

Thru 9-2020

Percent Change from Previous Year

Key Metrics

2019

New Listings

- 66.7%

106

- 34.0%

Sold Listings

+ 100.0%

- 12.5%

Median Sales Price*

$280,000

$392,000

+ 40.0%

$327,750

$335,000

+ 2.2%

Average Sales Price*

$319,200

$395,425

+ 23.9%

$321,344

$342,372

+ 6.5%

98.6%

97.6%

- 1.0%

97.9%

98.4%

+ 0.5%

0.0%

- 34.3%

Percent of List Price Received* Days on Market Until Sale

2020

Year to Date Percent Change from Previous Year

Inventory of Homes for Sale

- 70.6%

Months Supply of Inventory

4.4

1.3

- 70.5%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Glenwood Springs —

$600,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Glenwood Springs —

$600,000

$550,000 $500,000 $500,000

$450,000

$400,000

$400,000 $300,000 $350,000

$300,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$200,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

PITKIN COUNTY

SkiCo Announces Pass Options Aspen Skiing Co. announced its 2020-21 winter season pass options, with some blackout dates as part of a way to deal with distancing during Covid-19, the Aspen Daily News reported.

Locals who have bought one of the two exclusive pass options available to them will have the opportunity to purchase additional days at, minimally, a 50% discount from the lift ticket price. Premier pass holders continue to get unlimited access to all four mountains. The Pass options include the “Valley Weekday price increased $320 for chamber passholder, Pass,” which chamber members can purchase to $1,799. for $899 — $999 for nonchamber members — through Nov. 13, oﬀering access to all four Pitkin County Ranked 7th Healthiest the Country mountains Monday through Friday, with some U.S. News and World Report has placed Pitkin blackout dates during holidays, Dec. 26 to Jan. County high in the rankings for Healthiest 2, and Feb. 13 and 14. Subject to that same Community in the country, the Aspen Daily blackout range is the debuted “Valley 7-Pack,” News reported. In the third year of its study, which, as the name suggests, gives purchasers performed by the University of Missouri Center seven on-mountain days throughout the for Applied Research and Engagement Systems, season, including weekend days. That option Pitkin County was rated the seventh healthiest also is only available to locals and carries a county overall in the country, and came in at No. 2 for the rural, high-performing category, $399 price tag through Nov. 13. just behind Routt County, which is home to

PITKIN COUNTY continued

Steamboat Springs. Colorado counties lead the granted by BOCC because it operates as its own list overall, filling out six of the top 10 spots. governmental jurisdiction. BOCC Approves Affordable Housing for Aspen Firefighters Pitkin County commissioners voted unanimously to support a resolution approving a permit for the Aspen Fire Protection District’s plans to build a 15-unit affordable housing development next to its North 40 substation, the Aspen Daily News reported. Many residents of the nearby North 40 neighborhood spoke against the proposal over the last year, primarily over issues related to height and density. But it was approved by a special permit

In addition to the 15 units, which will encompass 21,000 square feet, plans call for a 20,000-square-foot underground parking garage with a minimum of 30 spaces. In addition, the project will include a 500-squarefoot multi-purpose building and 14 surface parking spaces for residents, which would be located on the street and within the development apron. The entire lot area on which the substation currently sits is 1.46 acres.

ASPEN 131 Popcorn Lane Aspen, CO 81611 4 beds 6 baths 4,955 sqft $8,995,000

Visit ToryThomas.net for details!

415 East Hyman Avenue, Aspen CO 81611 c 970-948-1341 | t 970-925-6060 | f 970-920-9993

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