Aspen Skiing Co. announced Monday that it has canceled its plans to build a 102-room hotel in Snowmass Base Village.
Skico planned to purchase a lot from Related Cos. and build a hotel similar to the Limelight in Aspen in place of a condo building that was approved for the site. It began the review process with the town early this winter and hoped to break ground in June.
Skico representatives said at a Snowmass Village Town Council meeting on Feb. 18 that they needed certainty they could obtain a certificate of occupancy once the hotel was constructed and that overall development in Base Village would move forward.
The council that night upheld a determination by the community development director that Related’s application to extend its development rights and change the phasing schedule for the project was a major amendment, meaning that the review process for the application will be lengthier. Related’s application also includes a timeline for completing a roundabout at Wood and Brush Creek roads, which is required for the Limelight to open.
“We were not comfortable that Related and the Town of Snowmass Village were making enough progress for (Skico) to receive a Certificate of Occupancy upon completion,” said Skico spokesman Jeff Hanle in a statement. “We would hope to return to this conversation if and when there is more certainty about the overall development plans for Base Village in Snowmass. ...
“Without further progress between the Town of Snowmass Village and the Related Companies, it is impossible to know what will be built on the Base Village site or when. Given those uncertainties, Aspen Skiing Company is unwilling to take on the financial and execution risks associated with the purchase of Lot 2.”