Staff report

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January 3, 2014
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Officials expect more demand at Burlingame II

Of the 48 affordable-housing condominiums available in Buildings 1 through 4 of Burlingame Ranch II, 47 are either under contract or reserved, with closings expected in January, February and March.

City officials anticipate similar demand for the 34 units proposed for Buildings 5 through 7, which will be a mix of one-, two- and three-bedroom units at Categories 2 through 7. Prices for those units range from $107,000 for a one-bedroom to $480,000 for a three-bedroom. If approved by the Aspen City Council on Jan. 27, construction will begin in April.

“Looks to me like we’ve sold just about everything in Buildings 1 through 4. I anticipate we’ll sell everything in Building 5 through 7,” assistant city manager Barry Crook said.

The 22 units already under contract are located in Buildings 1 and 2, with closings expected this month. The last available condominium in those two buildings is a $480,000 three-bedroom Category 6 unit that recently fell out of contract. Crook said there is no buyer lined up and that the high-category units can be tough to sell.

The 25 reserved units are scheduled for contracts in the next two weeks, with closings expected in February and March.

Crook said Buildings 5 through 7 will include three Category 2 units, eight Category 3 units, 11 Category 4 units, five Category 5 units, four Category 6 units and one Category 7 unit.

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The Aspen Times Updated Jan 3, 2014 07:24AM Published Jan 5, 2014 07:14PM Copyright 2014 The Aspen Times. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.