Plenty of takers for rooms at Red House | AspenTimes.com
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Plenty of takers for rooms at Red House

Aspen Times Staff Report

Local housing officials had received 92 applications as of late Tuesday afternoon from employees hoping to buy one of five affordable housing units for sale in the Red House.

The five units will be parceled out in a lottery to be held at noon on Thursday at the Aspen/Pitkin County Housing Authority office. And, according to one housing office employee, it is likely there will be more applications submitted by today’s 4 p.m. deadline.

But, cautioned Cindy Christensen of the housing office, applications submitted at the last minute must be “verified” as of the deadline, meaning any proof of employment information must have been checked by the time the deadline passes. She said the reason for this requirement is so that only individuals who are qualified employees and Pitkin County residents participate in the lottery.

The Aspen/Pitkin County Housing Authority recently took possession of the building known as the Red House as the outcome of a complicated deal with a downtown property owner. The Red House, also once known as Hallam House, is located at 937 W. Hallam St., at the eastern end of the Castle Creek Bridge.

In the deal, the owner of the former KSNO building in Aspen’s commercial core wanted to have the deed restrictions lifted on two apartments and a penthouse. To meet local housing replacement guidelines, he bought the Red House for $1.575 million (assisted by an $800,000 loan from the city) and then the city bought the property from him for $775,000.

The condos in the building are selling at prices ranging from $58,000 for a one-bedroom unit to $143,000 for a three-bedroom unit.


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