Letter: Base Village is not dead
With due respect to the Snowmass Sun’s two columnists Roger Marolt and Mel Blumenthal, Base Village is neither dead nor on anyone’s back burner. We understand and respect the decision of the Aspen Skiing Co. to cancel the sale of Lot 2 in Base Village. As both of us stated at the time, real estate development does involve a great deal of financial risk, and that risk is only increased when there is uncertainty in the development approvals.
Over the last year we have worked with two wonderful community partners, Anderson Ranch Arts Center and the Aspen Skiing Co., to envision a Base Village that works better now than the one that was designed before 2004 in a far different financial world. While fruitful, those discussions were not concluded. Timing was always an issue in the sale of Lot 2 to the Aspen Skiing Co. since its purchase was tied to breaking ground this spring. That timing also included a modest extension of the interim vesting rights. When town staff ruled in January that our amendment should be considered major because of a change in phasing, it made the overall timing for Skico even more precarious because they would have to allocate considerable capital before the town ruled on our amendment. The uncertainty over future vesting caused the Aspen Skiing Co. to cancel the sale.
As we continue to develop plans for Base Village, we will take what we have learned from past setbacks, apply that knowledge and create solutions for the outstanding issues that currently prevent forward progress. We plan on being in front of Town Council with a new application this spring.
President, Related Colorado
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Almost 70 Zoom attendees waited with bated breath as they watched the gold raffle drum spin during the Coffey Place deed-restricted housing lottery Wednesday.