February 2011

Snowmass Sale - February 8, 2011

Snowmass Sale - February 8, 2011

626 Faraway Road

Snowmass Village


Five bedrooms/four baths

$365 per square foot

Asking price $1,750,000

Photo by Taylor Feldman

Posted by gary on February 10, 2011 in

Aspen Sale February 7, 2011

Aspen Sale February 7, 2011

155 Nighthawk Lane, Aspen

Red Mountain


Four bedrooms/four baths

$999 per square foot

Asking price $3,995,000

Posted by gary on February 09, 2011 in

Aspen Sale February 7, 2011

Aspen Sale February 7, 2011

579 South Starwood



Three bedrooms/Two baths

$971 per square foot

Asking Price $2,200,000

Posted by gary on February 09, 2011 in

Aspen Board of Realtors February 2011 Observer

Aspen Board of Realtors February 2011 Observer
ABOR ObserverFebruary 2011 A rundown of the government and business activity over the last month, with particular focus on issues and items that are important to the Real Estate community. Aspen —“Aspen Modern” map governs historic Post-WWII propertiesAspen City Council capped off a three-and-a-half year debate about historic preservation by adopting a voluntary historic designation program for certain buildings built after WWII.

The new ordinance amends the land use code to create a map of “Aspen Modern” properties, just as there is a map of Aspen’s Victorian-era properties. The new program does not judge buildings on their age, but instead uses criteria such as design or connection to a specific person.

Once a property is designated for the Aspen Modern map, the owner is required to negotiate with between the city about historic designation if they decide to redevelop the land. But the new law gives the owner the right remove his or her property from the map for 10 years.
 Stage 3 owner seeks reductions, changesThe owner of the unfinished building at 625 E. Main St., former location of Stage 3 movie theater, is seeking permission to build a smaller than approved building.

Existing approvals include a three-story, mixed-use building with a fourth-floor roof garden. Owner Jeff Cardot wants to lose the roof garden, and build three free market units that exceed the 2,000 square foot limit set in the zoning code.

If approved by City Council, the upper 12 feet or so of concrete shafts on the existing elevator and stairwell bulkheads will be removed, reducing the highest point on the building to 35 feet above grade.
 Given developer wants $10 million plus two housesWould-be developers of the Given Institute property are asking taxpayers for an additional $5.5 million to save a portion of the property’s backyard.

The money would keep the area between the Given building and the bluff overlooking Hallam Lake from being developed. In all, developer SC Acquisitions is seeking about $10 million from the community to save the building and avoid development on the bluff, while asking for the right to build two homes on the remaining portion of the property.
 City Council expressed doubts about the values claimed by SC Acquisitions, and laid out numerous changes to the proposal necessary to close a deal. A special meeting on the property is set for Feb. 7. Affordable housing developer seeks refund on tap feeAffordable housing developer Peter Fornell is seeking a refund from the city of Aspen for $18,000 in tap fees for his eight-unit building under construction at 301 W. Hyman Ave.
Fornell cited a section of the land use code that directs “qualified employee housing shall be exempt from any utility investment charges.” But he was told he might not qualify because city policy does not grant waivers to affordable housing projects that are mitigation for free-market development.
Fornell’s project is the first under a program that allows developers to build affordable housing independently and sell affordable housing credits to developers. He is appealing for relief to City Council, which will address the issue at its Feb. 7 work session.
 Key ACRA members say AACP lacks visionSome Aspen Chamber Resort Association board members criticized the latest version of the Aspen Area Community Plan, saying it lacks version. Critics included David Perry, Aspen Skiing Co. senior vice president and Helen Klanderud, former Aspen mayor. They asked that adoption of an updated version be delayed to allow for more work on the document.

Aspen Mayor Mick Ireland and Pitkin County Commissioner Michael Owsley welcomed the comments but defended a process that has gone on for more than two years. Owsley said “ACRA just seems to be waking out of a slumber in this process.”
 City and county officials hope to adopt the updated Aspen Area Community Plan by April, with new guidelines for affordable-housing mitigation, construction management, growth management, environmental goals and transportation. Building and construction activity shows mixed resultsBuilding and construction activity in Aspen showed mixed results in 2010, with spending continuing its downward trend even as the total number of projects actually increased.
The city processed 1,401 building, mechanical, plumbing and electrical permits in 2010, representing a total value of $96.2 million. By contrast, in 2007, the peak year, the city processed 2,111 permits with a valuation of $365 million. 
 The changing demand for permits has is resulting in a review of the fee structure, which is inadequate – to the tune of an estimated $850,000 – to cover the associated costs.

Wheeler locale draws restaurateur interestNine proposals have been submitted by local restaurateurs to take over the space occupied by Bentley’s and Valley Fine Art in the Wheeler Opera House. A review committee is analyzing the applications before making a recommendation to City Council. Bentley’s owner Andrew Petrillo and Valley Fine Art owner Mia Valley have submitted proposals. The other seven include:n  Craig and Samantha Cordts-Pearce, owners of Brexi Brasserie, LuLu Wilson, CP Burger and the Wild Fig;n  Walt Harris, part owner and manager of The Ute/Syzgy Group;n  Billy Rieger, who owns Kenichi and Bad Billy’s;n  Gil Vanderaa, owner of Brunelleschi’s;n  Harold Neuweg, owner of the Wienerstube;n  Michele Kiley, owner of Specialty Foods and the Cheese Shop;n  Denis Cote, food and beverage director of 39 Degrees at the Sky Hotel. Wienerstübe to close after 45 years?Wienerstube Restaurant owner Harald Neuweg hopes his Grand Closing party at the end of last month is not the end of the 45-year Aspen institution. He submitted a proposal to the city to lease the restaurant space in the Wheeler Opera House, where he envisions offering special dinners that match specific types of events at the venue. http://analytics.apnewsregistry.com/analytics/v2/image.svc/COAST/RWS/aspentimes.com/CAI/AT2011110129849110129849/CVI/AT2011110129849d20110127t052000/MAI/AT2011110129849/E/prod/PC/basic/AT/ACopyright 2011 The Aspen Times. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. January, 27 2011 5:20 am Barking up the wrong tree in Aspen

The Aspen Times  Marolt may be used as transitional homeless housingGovernment officials and homeless advocates are considering a plan to use seasonal apartments as transitional housing during shoulder seasons.

Homeless advocates hope to launch a pilot program where pre-screened homeless people can qualify for transitional housing at Marolt after ski season employees move out in April. They would be allowed to stay until June, when summer tenants from the Music School move in.  The program likely would require some level of payment from the tenant. Advocates have also discussed monitoring the transitional tenants’ comings and goings
 In Other NewsThe parking plan for the proposed Boomerang affordable housing conversion was sent back to the Planning and Zoning Commission for further work. The proposal calls for a mix of private and on-street parking. P&Z will take it up on Feb. 8.City Councilman Dwayne Romero was tapped by Gov. John Hickenlooper to serve as head the Office of Economic Development and International Trade. Romero plans to commute from Aspen to Denver each week. He will give up his job as president of Related Snowmass, as well.Daniel Waters and Good Earth Landscaping & Maintenance pleaded no contest to charges in municipal court of trespassing and destruction of private property — namely a 70-foot Douglas fir tree located next door to Waters’ home at 216 E. Hallam St. Both were fined $550. Waters will also pay $2,300 to Aspen Tree Service to monitor the ailing tree.   Pitkin County —Open Space and Trails adopts land swap policyA long-discussed land exchange policy won unanimous approval from the Pitkin County Open Space and Trails board.

Efforts to draft the policy began after negotiations between the county and Leslie and Abigail Wexner broke off. The Wexners sought to fold 1,200 acres of Bureau of Land Management property into their ranch at the base of Mt. Sopris. In exchange, the Wexners offered to give the BLM title to the Sutey Ranch, north of Carbondale.

The new policy establishes several conditions that must be met before the Open Space and Trails board will consider a proposed exchange. They include:
n      Published, written notices of a proposed exchange in each affected jurisdiction, identifying the parties involved;n      An appraisal with an analysis of property values involved in the swap;n      No net loss of publicly owned land in the county or within the Roaring Fork River watershed;n      No net loss in public access to lands within the county. Purchases adjacent to Wexner property raise speculationFive lots adjacent to the Wexner family’s Two Shoes Ranch on the flanks of Mount Sopris have been sold for a total of $13 million to five separate limited liability companies.
Four of the LLCs are registered to the office of Aspen attorney Gideon Kaufman, who represented the family in an unsuccessful campaign for county endorsement of a federal land swap that would add 1,200 acres to Two Shoes.
 Speculation has grown that the Wexners might continue their efforts to execute the swap, although it is unclear how the new acquisitions, which appear to have been made on their behalf, would be part of a future swap proposition. Rep. Scott Tipton, R- Cortez, said in December he would be open to meeting with the family about the idea. Runway expansion proceeds with West Buttermilk water dealPitkin County will pay $1.7 million in tap fees and other costs to hook up 77 residences in the West Buttermilk area to the city of Aspen’s water system. Homes served by the Buttermilk Metropolitan District currently draw water from wells at the south end of the runway. The wells will be capped and a pump house removed to accommodate the extension. Frontier continues service after busy year at airportIn 2010, commercial passenger traffic at the Aspen-Pitkin County Airport was at its busiest since 1998. Enplanements — the number of people who boarded a commercial flight in Aspen — totaled 227,784 last year, up 3.7 percent over 2009. In 1998, the airport recorded 248,510 enplanements. And Frontier Airlines announced last month that it will come back to Aspen for at least another summer season, with four flights daily between Aspen and Denver. The airline’s new owner, Republic Airlines, had planned to pull out altogether last fall, but has been putting off its end date.  Airport master plan in the worksWork is under way on a master plan to guide development at the Pitkin County Airport over the next 20 years.  Two primary area of focus include the terminal building and a proposed facility on the west side of the runway for a second fixed-base operator to service private aircraft. Other areas of concern include parking, access off of Highway 82, pedestrian crossings and transit considerations.

A 40-member Aspen Master Plan Study Committee is expected to meet about once a month for the next year to complete the plan. Information is available at www.aspenairportplanning.com. Quarry owner seeks year-round operationsA new operating plan for the Mystic Eagle Quarry in Avalanche Creek that envisions year-round operations and a new road circumventing the quarry is about to undergo an environmental analysis by the U.S. Forest Service.

The agency has accepted the proposed operating plan and is ramping up for an analysis that will include public input. The quarry has operated for years between May and November. If the new plan is approved, the quarry owners envision year round operations, seven days a week, 24 hours a day. Five campsites will be set up for mine workers.
 Emergency phone will help developers and travelersA new emergency phone has been installed on Highway 82 near Difficult Campground at the base of Independence Pass, allowing callers to reach emergency dispatchers in Aspen from an area where cell phone service is spotty. Resident Bob Oxenberg suggested the phone because people in need of assistance have knocked on his door over the years.  He is also using his support of the installation toward community benefit points in the county’s growth management quota system. Three of his neighbors who are looking to gain credit toward growth management have offered to pay for ongoing costs in exchange for GMQS considerations.  Pitkin County cautions against large Wolcott developmentPitkin County officials have raised concerns over a proposal by Community Concepts Colorado to build a master planned community with 1,935 homes and 214,088 square feet of commercial space on 1,335-acres straddling along the Eagle River near Wolcott.

Pitkin County cautioned Eagle County from allowing the project to move forward, citing regional impacts on traffic and roads, emergency and social services, and water quality and quantity.
 The Pitkin County Commissioners also suggested that Eagle County heed advice from the Colorado Division of Wildlife on how, if at all, the Wolcott area can be developed without harming migrating wildlife and habitat for the native mule deer and sage grouse. Greenhouses may be easier to build soonPitkin County Commissioners are working on changes to the land use code that will allow local landowners to build greenhouses more freely.  Currently, greenhouses are factored in the 5,750-square-foot limit on homes. The amendment under consideration would allow up to 300 additional square feet by right for anyone wishing to build a greenhouse.  County officials want to promote food production and preserve the county’s rural aesthetic. The underlying worry is that homeowners will cheat the system and use that floor space for more bedrooms, hot tub rooms and the like. In Other NewsPitkin County’s new Energy Smart Resource Center at the Aspen Business Center offers guidance and low cost loans so homeowners can make their homes more energy efficient. The resource center is located at 111 Aspen Business Center, suite M.Pitkin County Commissioner meetings will begin streaming online beginning Feb. 8 at www.aspenpitkin.com.Pitkin County is offering a $100 landfill credit to all eligible households as an incentive to properly dispose of hazardous materials, electronics, and junk metal. Applicants must bring a driver's license and one of the following documents: car registration, utility bill or property tax bill to qualify.Misdemeanor charges were dropped in the carbon monoxide poisoning deaths of a Denver family after prosecutors realized the statute of limitations had expired before the three men were indicted. Felony charges of criminally negligent homicide are still pending against contractor Marlin Brown and inspector Erik Peltonen. The incident occurred over Thanksgiving 2008.  Snowmass Village —Base Village receiver proposes counter offerThe receiver overseeing the Base Village foreclosure case does not think that lender Hypo Real Estate Capital Corp. should accept a settlement proposal from a group of buyers at the Viceroy Hotel.  Instead, Jim DeFrancia of Lowe Enterprises says Viceroy buyers should accept a price cut on their condos, because they are unlikely to prevail in their legal efforts to recover their deposits, according to a report filed in Pitkin County District Court on Friday.

DeFrancia was responding to a proposed settlement in which 62 buyers would receive 100 percent of their deposits, totaling $13.7 million. In return, the buyers would not seek triple damages, attorneys’ fees or interest on their deposits. A trial about the disputed deposits is set for July 2012. Snowmass taxpayers hit up for Labor Day Festival costsJazz Aspen Snowmass (JAS) executives are asking Snowmass Village taxpayers to cover an estimated $50,000 in costs tied to producing the event.  The request would relieve JAS from having to pay for use of the town’s transportation, public works and police departments during the festival. The Labor Day festival costs more than $2 million to produce.  
Posted by gary on February 03, 2011 in