Snowmass History: Condominiums
Aspen Historical Society/Courtesy photo
The Aspen Times on Jan. 1, 1970, reported on Snowmass’ third winter with stats that Snowmass was filled to capacity with 3500 beds available.
Many of these “beds” are in condominium units, apartments owned by individuals which are rented most of the year to transients. Condominiums are often long-distance real estate investments. For instance, the largest percentage (21.2) of condominium owners are residents of Illinois. Some 17.9% are Coloradans, nearly all of whom reside outside of Snowmass, and 11.2% live in California.
On the average, these owners spend only one month a year at Snowmass. This normally is divided into two weeks in the winter and two in the summer. In other words, the condominiums are not really “second homes.” They are more vacation dwellings, which a majority of the owners rent more than use.
When Snowmass was born two years ago, it had 199 condominium units in two projects. Average price then was a low $17,000. Today, Snowmass has eight condominium projects containing 404 units, 99% of which have fireplaces and which sell on the average for $41,000. Some go as high as $80,000 unfurnished. Snowmass at present has only about 100 residents. Most live in houses rather than condominiums.
Aspen Historical Society actively preserves and passionately presents local history in an inspired and provocative manner that will continue to anchor the local community and its evolving character. For more, visit aspenhistory.org.
Owl Creek-Brush Creek roundabout construction delayed
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