Related Colorado will reopen talks for Base Village in Snowmass
April 16, 2014
Related Colorado will withdraw an application to extend some of its development rights in Base Village and instead reopen broader talks with Snowmass Village about getting the stalled project back on track, according to town and company officials.
Julie Ann Woods, director of the community development department, told the Town Council Monday night that she has held "informal talks" with Related Colorado staff members about their most recent application. It is her understanding that Related Colorado will submit a letter to the town to withdraw the application, though no timeline was set, she said.
Related's pending application seeks an extension on some vested development rights that are scheduled to expire in November. The company also wanted to alter the phasing of construction of some components of the project.
The town government determined in February those changes qualify as a major amendment to the 2004 approvals. That means the review process would be more demanding for Related and likely require more time for the town.
“The market is different now, the world is different now than it was in 2004.”
Spokesman, Related Colorado
Woods was hired March 24 as Snowmass Village's community development director — about one month after the council's Base Village decision. Woods said a big part of her job is trying to get the Base Village project "moving forward." It stalled during the recession when Related Colorado's parent company lost the property in a foreclosure. It reacquired the site in September 2012.
Woods said she has met with Related Colorado officials a couple of times in her brief tenure to discuss the project's future. The idea of Related withdrawing the application came up during those discussions.
Related Colorado spokesman Steve Alldredge confirmed Tuesday that the company will withdraw the application. Company officials look forward to a broad discussion with the Town Council, Planning and Zoning Commission and the community about the future use of seven buildings in the village's core, he said.
"The market is different now, the world is different now than it was in 2004," Alldredge said.
Related Colorado is interested in talking about the future of buildings 4, 5, 6, 7, 8 and 9A and 9B, he said. The foundations for the buildings are poured, so whatever uses move forward must fit the buildings' footprints. The exterior shell of Building 7 was partially completed before the project stalled.
Alldredge said Related Colorado isn't prepared yet to discuss the future of buildings 10, 11 and 12, which are outside the core.
Related has vested development rights through 2024 for the major components of the project. There are development rights for about 200 additional condominiums and 60,000 to 70,000 square feet of commercial space. Six buildings have been completed.
Aspen Skiing Co. was prepared to buy Building 5 from Related and build a 102-room hotel at Base Village but canceled the plan last month. Skico released a statement at the time saying it wasn't confident that Related and the town of Snowmass Village were making enough progress on Base Village planning to ensure that Skico could receive a certificate of occupancy when its finishes the hotel. Related would have to meet certain conditions before the hotel could open.
"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," Skico said. Skico spokesman Jeff Hanle said the company has nothing to add to the prior statement at this time.
Council members welcomed the news that talks on Base Village's future would resume with Related Colorado.