Aspen Club to refinance, site visits continue with city | AspenTimes.com

Aspen Club to refinance, site visits continue with city

Aspen Club owner Michael Fox said this week plans are in place to refinance the stalled redevelopment project that has spawned more than $25 million in liens from contractors who claim they have not been paid for their labor and materials.

City officials met with Fox on Friday for a site visit of the project where the majority of the subcontractors have stopped work since financing dried up at the end of August.

Still, Community Development Director Jessica Garrow said construction activity has not come to a complete halt — work continues on the club building's decking as well as roofs and chimneys at the townhomes.

"They are actually not in a work stoppage," Garrow said Friday afternoon. "There are still some signs of work when we visited the site today."

A work suspension did not technically occur in the city's eyes because the city has continued to do site inspections, Garrow said. Had work stoppage under the city's definition occurred, the city would be close to tapping into a $100,000 escrow account, already funded by the Aspen Club, to clean up the site and protect it from safety hazards.

"Once they would stop calling for inspections, that begins the clock for the work stoppage," she said, adding that "we've been on site throughout the fall."

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Aspen Club also provided the city with a winterization plan, which includes "protecting the improvements on site from the elements, and those improvements are everything from stormwater to their utility infrastructure," Garrow said.

"Given the amount of work that is going on, they are doing what they are expected to do, getting it ready for the spring and making it safe and secure of the elements," she said, noting Aspen Club will have someone on site all winter.

Fox said the refinancing will allow Aspen Club to pay off FirstBank, which provided a $45 million loan in May 2016, as well as the lienholders.

As of Friday, at least 32 liens had been filed against Aspen Club in Pitkin County, including some against PCL Construction Services, which is the general contractor. While the liens now total $25.5 million, Fox noted that PCL's $17.7 million lien skews that figure because PCL also owes the subcontractors.

"Regarding the liens, there is some double counting in there," he wrote in an email to The Aspen Times. Fox was not available for in-person comment.

Fox said Aspen Club's members can continue to use reciprocal benefits — through a monthly rate of $90, about half of the regular fee — at other health clubs in the Aspen area "until we reopen."

The project calls for remodeled 40,000-square-foot Aspen Club & Spa building. Also included is a 54,000-square-foot lodge with 20 timeshares, which comprises 36,000 square feet of townhouse units and 18,000 square feet of club units. Another 13,600 square feet of development would account for 12 multi-family affordable-housing units.

Construction initially had been billed to be finished in November.

rcarroll@aspentimes.com

Lien Times at Aspen club

Construction companies and contractors have filed $25.5 million liens against either the Aspen Club or general contractor PCL Construction Services, or both. PCL also has a $17.7 lien against Aspen Club.

Here’s a look at what the companies are saying they are owed”

Claimant Amount Date filed

Edwards Building Center $76,006 Oct. 17

Specialty Wood Products $57,915 Oct. 17

Eagle Valley Glass & Mirror $75,501 Oct. 13

American Stair Corp. $107,157 Oct. 13

Vulcraft $148,000 Oct. 13

Ludvik Electric $2,682,201 Oct. 12

Brown Strauss $88,179 Oct. 11

PDM Steel Services $106,103 Oct. 11

RK Mechanical $2,375,695 Oct. 9

Pioneer Materials West $28,131 Oct. 6

Mountain Man Masonry $153,644 Oct. 4

Precision Construction West $90,000 Oct. 4

TWC $429,538 Oct. 4

Forterra $52,534 Oct. 4

Sopris Engineering $32,417 Oct. 3

Sopris Engineering $67,343 Oct. 3

Coloradocrete $122,192 Oct. 2

Ashley Concrete Structures $973,280 Oct. 2

Smuggler Finishes $25,730 Oct. 2 Grand County Roofing & Sheet Metal $434,998 Oct. 2

Edge Construction Specialities $418,671 Oct. 2

Columbia Builders $35,712 Sept. 28

Aspen Insulation $32,801 Sept. 27

InsulVail $102,942 Sept. 26

Imi $167,215 Sept. 26

PCL Construction Services $17,718,848 Sept. 26

Gould Construction $1,711,899 Sept. 25

PSI Crane & Rigging $302,822 Sept. 25

Western States Fire Protection $170,493 Sept. 22

Martin-Ray Laundry Systems $21,101 Sept. 22

Orion Environmental $63,278 Sept. 14

Myers & Co. Architectural Metals $1,528,771 Sept. 12

Source: Pitkin County Clerk & Recorder’s Office

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