Related Colorado makes changes in positions
The Aspen Times
Related Colorado has cut four positions in what its president calls an effort to eliminate redundancies while also adding two construction positions in anticipation of starting new work in Base Village next summer.
The company is the owner and developer of Base Village through a subsidiary, but it also owns most of the commercial property in Snowmass as well as a rental-management division, Snowmass Hospitality. Positions have been consolidated in the areas of marketing and communications, accounting and property management, said Jim D’Agostino, president.
“I’ve been here for three-plus months, and I’ve seen there’s redundancies,” said D’Agostino, who was named president of Related Colorado after Dwayne Romero unexpectedly resigned in March. “To run an effective organization, I want to have the proper structure in place, so we’ve made some moves there.”
The changes in accounting and property management go hand in hand with the lack of construction currently happening and a drop in rental properties that the company manages, D’Agostino said. Related manages a “substantial amount” of units in Snowmass, but about 30 to 40 of those agreements have been discontinued in the past three years, he said.
“Some people have sold their units, some people have gone on their own with long-term rentals and don’t need our services, so the infrastructure we had in place was too heavy,” he said.
In addition to positions, the company also had some redundancy in consultant services, D’Agostino said.
On the other hand, the company has added two project-manager positions. The town is currently reviewing an application by Related to amend the approved plans for Base Village, and both parties have agreed to expedite the process as much as possible so that new construction can start in 2016.
“That’s where we’re headed,” D’Agostino said. “We’re going to be going out to bid hopefully in the next couple months. We’re doing updated drawings with OZ, the architects, and our interior designers for the Viceroy. So there’s a need on that side of the business.”
D’Agostino said he met with his staff July 10, and that was the message.
“The majority of all of our focus is design, development and construction and everything Base Village, inclusive of the (rental-management agreements) and HOAs we manage at Base Village,” he said.
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Basalt didn’t wait for the anticipated economic boom in the United States. It started booming last June and hasn’t let up.