Real Estate in the News – July 2019

View the Flip Book


$1.5 Million in Affordable Housing Contracts Moving Forward

Aspen City Council approved around $1.5 million in contracts that are designed to move three affordable-housing projects forward, the Aspen Times reported. Council agreed to contract with Denver-based 359 Design for $252,000 to conduct community outreach in advance of the city building the third phase of Burlingame Ranch. Seventy-nine units are approved to be built at the development, which already has 177 there and are occupied mostly by working families.

Council also approved a $157,670 contract with DHM Design to conduct community outreach and a conceptual master plan design for the possible development of the Harbert lumberyard next to the Aspen Business Center. The third contract approved by council is related to new housing set aside for city employees at a development above the hospital off of Doolittle Drive called Water Place. For just over $740,000, 359 Design will create a site plan, architectural designs and construction drawings for the 4.75-acre site.

Sale Falls through on City of Aspen-Owned Home
A West End house that the city of Aspen owns is still up for sale after a prospective buyer walked away from his offer this spring, the Aspen Times reported. Henry Lambert and his business partner, Carey Bond, were under contract with the city to purchase the three-bedroom, two-bathroom house at 312 W. Hyman Ave. for $3.8 million. But after they had one meeting in front of the city’s historic preservation commission in April to get an addition approved, they realized it would require an extensive review process and didn’t want to deviate from their plans. It is now back on the market.

Aspen Says No to Scooters, Dockless Bikes, for Now
The city of Aspen is taking a proactive approach to companies looking to set up dockless mobility options like e-bikes and scooters in town by enacting a six-month pause on allowing them here, the Aspen Times reported. In the meantime, city staff will spend the rest of the year developing a management plan through public outreach efforts and working with local bike shops.

New City Hall Plans Will Continue
The new civic building and public plaza approved by voters in November will carry on as planned, despite numerous requests from residents to reconsider, the Aspen Daily News reported. In a June work session, Aspen City Council heard input from staff and citizens on a number of questions about the buildings’ design, use, and landscaping. Many asked for a pause in the process to reassess the community’s needs, but council said many had come in too late to make those concerns heard.

Residential Vacant Land
Stunning Red Mountain view parcel with plans already submitted to the County for a 3,995 square foot contemporary home with a Two-car 547 square foot garage. All the planning has been done for you. All you need to do is pick up the permit when it’s ready!

For more photos and details, click here.

Request details about this property
Call Tory about this property


Coffey Place Details Flushed Out

Seventeen new housing units are on track to be built in Snowmass Village in a new subdivision named Coffey Place, in honor of Joe Coffey, the town’s first housing director who served in his position for 38 years until his death in 2018, the Aspen Daily News reported. The subdivision will consist of three separate parcels surrounding an existing affordable housing neighborhood made up of free-standing, single-family homes known as Rodeo Place, near the entrance to the town. Six of the units will be two-bedroom duplexes with a one-car garage. The other 11 units are three-bedroom homes with two-car garages.

The $14 million project will mostly be repaid by the purchase of the homes, which are estimated to range from $523,767 to $824,502. The town is putting in $3.3 million to help subsidize the actual price of developing the homes and will take out a construction mortgage of just over $10.8 million that will be paid back as the homes are sold.

Bedrooms: 3 Total Baths: 4 Baths
Country Club Homes
 SqFt: 2,592

Newly remodeled corner townhome with high ceilings, gorgeous views and a private setting, is the perfect mix of indoor and outdoor living.

For more photos and details, click here.

Request details about this property
Call Tory about this property


Town Council Approves SkiCo Affordable Housing
The Basalt Town Council voted 4-2 to approve Aspen Skiing Co.’s controversial proposal to build an affordable housing project in Willits the Aspen Times reported. The 43-unit, 150-bedroom proposal faced considerable neighborhood opposition for alleged inadequate parking and for creating a “dorm” that would be out of character with the area.

The most biting criticism was that the project is an example of a big upper valley employer looking in the midvalley to solve its problems. Skico is proposing a 53,000-square-foot building. With the latest revision, Skico is proposing five one-bedroom units, two two-bedroom apartments, five with three bedrooms and 31 units with four bedrooms. It eliminated six-bedroom units that some people said were out of character with Willits.

Tree Farm Developer Lures Global Funds
Midvalley landowner and developer Ace Lane has teamed with a global powerhouse to help him get his 514,000-square-foot project in the El Jebel area off the ground, the Glenwood Springs Post Independent reported. Lane enlisted CBRE Group Inc. this spring as its listing broker for the first phase of his Tree Farm development. CBRE has the marketing clout to expose the project well beyond the Roaring Fork Valley. It is number 146 on the Fortune 2019 list of the 500 largest U.S.-based public companies.

The Tree Farm has approvals from Eagle County for 379,635 square feet of residential space and up to 134,558 square feet of commercial space. The website for the project calls it a $250 million development. The development is across Highway 82 from Whole Foods. It is clustered around the west and south ends of Lane’s existing Kodiak Ski Lake.

2 Bedrooms |
2 Baths

Valley Pines

Newly remodeled Valley Pines half duplex is located in the popular Willits neighborhood. This is a one story home, perfect for those wanting  privacy, convenience and quietude.

For more photos and details, click here.

Request details about this property
Call Tory about this property


Town to Pursue AARP-Friendly Designation
The Town of Carbondale will officially move forward to get designation as an AARP-friendly community, the Sopris Sun reported. The push was just part of multiple efforts by the Carbondale Age-Friendly Community Initiative (CAFCI) to boost awareness and create practical change.

The group is focused on mobility and access, tackling snow removal, crossing light timing, benches and more. But the World Health Organization’s checklist of essential age-friendly features covers aspects of outdoor spaces and buildings, transportation, housing, social participation, respect, civic participation, communication and health services.

Glenwood Springs

Glenwood Adopts Short-Term Rental Policy
To address the number of issues arising from private short-term rentals, Glenwood Springs put a policy in place. In order to obtain a short-term rental permit, users must now pay an initial fee of $500, and $300 renewal fee every two years. For an accessory tourist rental permit, users must pay an initial fee of $300 and a $150 renewal fee, also every other year, the Aspen Times reported.

A short-term rental allows a homeowner to rent out their entire residence, whereas an accessory tourist rental permits the ability to rent out a single bedroom or accessory unit. Permit holders must adhere to a building inspection upon receipt of their initial application and at the time of renewal; they must notify neighbors within 250 feet of their property and have someone available to respond to issues within 30 minutes of the property. A limited number of permits will be given each year.

For more photos and details, click here.

Request details about this property
Call Tory about this property

Pitkin County

Lagging Construction Irks HOA Enough to Seek Fines
The Starwood HOA is seeking nearly $3.4 million in fees from Chicago-area businessman Thomas Duckworth, whose residential project has languished for more than 13 years, the Aspen Times reported. Construction on Duckworth’s home is now nearly complete. The finished residence will have 18,951 square feet of living space and sits on 2.4 acres, according to the Pitkin County Assessor’s Office, which has appraised the property with an actual value of nearly $18.5 million.

SkiCo Reports Record Number of Skiers
Aspen Skiing Co. topped a 21-year-old record for skier and snowboarder visits, with more than 1.55 million visits at Aspen Mountain, Aspen Highlands, Snowmass and Buttermilk, the Aspen Times reported. Colorado ski resorts cumulatively reached a projected 13.8 million visits, breaking the record set in 2015-16, according to Colorado Ski Country USA.

Bedrooms: 3 | Baths – Full: 3

One cannot do any better than own one of The Residences of the Little Nell with it’s renowned 5 star service, stunning slope-side setting and designer-finished, spacious condominiums. Truly a Ski-in, ski-out property, this is the kind of place to bring the family and create the memories of a lifetime!

For more photos and details, click here.