February 2012

Aspen Sale February 17, 2011

Aspen Sale February 17, 2011

Residences at the Little Nell

Unit F-502

Aspen

$1,940,000

Private Residence Club

Asking price $2,400,000

81% of asking price

Photo by Gary Feldman

 

Posted by gary on February 29, 2012 in
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Snowmass Sale - February 21, 2012

Snowmass Sale - February 21, 2012

920 Pine Crest Drive

The Pines, Lot 37, Parcel G

Snowmass Village

$4,500,000

Building Site

Asking price $4,995,000

90% of asking price

SOLD BY JOSHUA & CO

Photo by Gary Feldman

Posted by gary on February 29, 2012 in
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Aspen Sale February 27, 2012

Aspen Sale February 27, 2012

The Gant, Unit G-302

Aspen

$1,450,000

Two bedrooms/two baths

$1,618 per square foot

Asking price $1,450,000

100% of asking price

Photo by Gary Feldman

Posted by gary on February 29, 2012 in
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Snowmass Sale - February 27, 2012

Snowmass Sale - February 27, 2012

111 Timber Ridge Lane

Two Creeks, Lot 26

Snowmass Village

$3,350,000

Building site

Asking price $3,500,000

96% of asking price

SOLD BY JOSHA & CO

Photo by Gary Feldman

 

Posted by gary on February 29, 2012 in
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Snowmass Sale - February 27, 2012

Snowmass Sale - February 27, 2012

280 Deer Ridge Lane

Ridge Run

Snowmass Village

$2,300,000

Four bedrooms/four baths

$539 per square foot

$92% of asking price

SOLD BY GARY FELDMAN

Photo by Gary Feldman

Posted by gary on February 29, 2012 in
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Aspen Sale February 14, 2011

Aspen Sale February 14, 2011

Aspen Mountain Townhouse, Unit C

Aspen

$1,150,000

Three bedrooms/two baths

$928 per square foot

Asking price $1,250,000

92% of asking price

Photo by Gary Feldman

Posted by gary on February 20, 2012 in
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Aspen Sale February 16, 2012

Aspen Sale February 16, 2012

411 South West End Street, Unit B

Aspen

$5,475,000

Four bedrooms/4 baths

$1,452 per square foot

Asking price $5,950,000

92% of asking price

Photo by Amy Feldman

Posted by gary on February 20, 2012 in
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Aspen Sale February 10, 2012

Aspen Sale February 10, 2012

802 East Hyman Townhome, Unit B

Aspen

$2,299,500

Three bedrooms/three baths

$1,057 per square foot

Asking price $2,495,000

92% of asking price

Photo by Gary Feldman

Posted by gary on February 13, 2012 in
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Aspen Sale February 9, 2012

Aspen Sale February 9, 2012

The Gant, E201

Aspen

$995,000

Two bedrooms/two baths

$1,005 per square foot

Asking price $1,095,000

Photo by Gary Feldman

Posted by gary on February 10, 2012 in
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Aspen Board of Realtors February 2012 Observer

Aspen Board of Realtors February 2012 Observer
Aspen — Mayor calls for end to infill incentivesAspen Mayor Mick Ireland called for significant amendments to the city’s land use code that would set new height limits on mixed-use buildings with high-end condos. He says the units are often used as second homes and sit empty for much of the year, and “hollow out” the downtown core. If approved, the proposal would roll back the “infill” legislation passed in pieces in 2003 through 2005. For instance, it would impose a new height cap of 28 feet for any buildings containing free-market residences in the downtown and lodging zone districts. The current limit is 47 feet. Ireland cited the buildings on Hyman Ave. that housed the once-popular Mother Lode and Crystal Palace restaurants. Both were sold during the real estate boom. Neither has a business tenant, and the luxury penthouses in the 40-plus-foot-tall Mother Lode addition remain unsold. Planning consult Stan Clauson, said “the free-market bashing has gone far enough.” Mixed-use buildings with a free-market residential component are an important part of local development, and many residents of those condos are contributing members of the community, he said.

Deal to save Benton Building, Little Annie’s goes to full councilDowntown developer Nikos Hecht agreed to pay around $1 million in affordable housing fees and other concessions after negotiations with two City Council members over the fate of the Benton Building and Little Annie’s.  Hecht also reportedly agreed to pay a $369,000 parking mitigation, and for streetscape improvements. Hecht and his development group plan to develop a mixed-use building at the corner of Hunter and Hyman. As part of the potential deal, city officials cut the number of affordable housing units required.
Hecht agreed to break the residential component in the building into two units, instead of one as proposed. He may still ask for an exemption from the 2,500-square-foot cap in city zoning, which could prove a sticking point for the full City Council.
 Hydro election appears likelyAspen City Clerk Kathryn Koch is reviewing 953 petition signatures submitted by opponents of a hydro electric plant on Castle Creek. The petition is expected to force an election to overturn the land-use approval for a Castle Creek Energy Center.
 
The city is proposing to install a 1.1 megawatt-capacity hydroelectric generator under the Castle Creek Bridge that would fed by water from Castle and Maroon creeks.
 Galena Community Connection advances with council supportThe newly envisioned Galena Community Connection would create pedestrian and bicycle enhancements on Galena Street to link downtown retail areas with the Galena Plaza next to the library and Rio Grande Park.  The improvements would include measures to reduce parking and traffic, wider sidewalks, more green spaces, improved bike trails, a more user-friendly plaza next the library, a new roof for the parking garage and improved natural filtration for storm water systems.  Aspen Walk back in playAspen City Council put off a final decision on the proposed Aspen Walk residential development, urging a new architect on the project to further reduce its size. The latest plan calls for 14 free-market condos and 11 affordable housing units in a three-building complex to replace decades-old apartments at 414 Park Ave. and 404 Park Circle. The property is currently in receivership and new architects from Cottle Carr Yaw are working with a court appointed receiver to gain approval.  The receiver said a revised proposal would be ready for a Feb. 27 vote. A foreclosure sale is expected in March. Unit owners sue developers at Dancing BearThe homeowners association at the Dancing Bear Lodge on Durant Ave. is suing the project's developer and a prospective buyer over ownership of a wine room and two employee units.

The suit alleges that buyers of the fractional units were given assurances that ownership of those amenities were part of their purcahse. The current developer-owners of the project, Dancing Bear Land LLC and Tanzbar DB Holdings LLC, have not yet transferred ownership to the homeowners association.
 Council splits on AACP hearingsWith a 3-2 vote, Aspen City Council members Torre, Derek Johnson and Adam Frisch rejected pleas from planning and zoning commissioners to adopt the Aspen Area Community Plan as written. Several members of both the city and county planning boards signed a letter calling for adoption without further revision.  In explaining his position, Johnson said the community expects to be able to comment before it is adopted. Public hearings in the coming weeks will weigh various aspects of the plan and consider amendments suggested by city planning staff. X Games attendance down 5 percentAttendance at this year’s Winter X Games totaled 108,000 this year, down 5 percent from last year’s total of 114,200. Saturday was the busiest day, with 45,000 people coming to the games.  Country Day to relocate during campus makeoverAspen Country Day School will relocate to the Aspen Meadows/Institute campus for the 2012-13 school year while the Castle Creek campus it shares with the Aspen Music Festival and School undergoes a major makeover. Country Day will use all or portions of the Boettcher Building, Harris Hall and the Benedict Music Tent, as well as modular classrooms in the Paepcke Auditorium parking lot and Gillespie Street parking lot.

Taxi for Tips driver Phil Sullivan jailedDistrict Judge Gail Nichols sentenced rogue Aspen cab driver Phil Sullivan to 15 days in county jail for his second contempt-of-court conviction in less than a year. Sullivan, who is not licensed to operate a cab, gives rides around the upper valley and takes tips for the service. He served a week in March 2011 for contempt of court.
New trails, habitat protection in works for Sky Mountain Park“Shale Trail,” a 1.5-mile single track running up the Shale Bluffs side of Sky Mountain Park, is part of an ambitious plan to develop more than 16 miles of trails on the 845-acre open space. This coming summer’s plans for the former Droste property also include habitat protection for roughly 300 acres.  Police seek rogue artistAspen police are looking for the culprits who plastered Aspen street maps — touched up with black markings and illustrations of eyeballs — on the outside of the Aspen Art Museum, Pitkin County Library and a public restroom at Wagner Park.

Snowmass Village —Property owners paying for Related-Hypo disputeJim DeFrancia, the one time receiver for Base Village and an executive with Destination Snowmass Services, criticized  Related Cos. and its local entities for using their legal standing as the former developer of Base Village to force up interest rates paid by the development’s metro district to an unsustainable rate.  DeFrancia said Related’s actions have resulted in 10 percent interest on $32.6 million in bonds, forcing the metro districts deeper into debt and putting a burden on all property owners in Base Village. He said that through a series of moves last fall, Related was able to convert metro district debt into guarantor bonds that it holds.  The issue is the subject of a lawsuit between the consortium of banks that own Base Village and Related. The banks allege that Base Village Owner, LLC fraudulently moved money related to the bonds to Related WestPac as part of the maneuvers to take control of the metro district debt. Both are Related entities. Related Colorado Related Colorado President Dwayne Romero denied the allegations in a statement issued at the end of January.  “We have recently filed an answer to the metro bond complaint affirming our rights under agreements that were negotiated with the banks back in 2008 and under relevant agreements that have been signed by the banks since that time,” he said.  Lodging rates remain strong through DecemberBoth Aspen and Snowmass Village experienced the busiest Christmas and New Year's holiday week in five years, with Aspen's daily occupancy peaking at 94 percent on Dec. 29 and Snowmass' peaking at 84 percent on the same night. January bookings are up 14.6 percent in Aspen and 6.3 percent in Snowmass Village. Droste brothers in legal fight over Brush Creek land saleMembers of the Droste family are suing each other over how to allocate $17 million received for their 841-acre spread in Brush Creek.

Peter Droste seeks compensation from brother Bruce Droste for approximately $1 million spent over 15 years to obtain land-use approvals and entitlements, as well as to cover legal fees from the family’s unsuccessful lawsuit challenging county regulations. Peter Droste claims in the suit that his brother is “benefiting from unjust enrichment.“ But Bruce Droste claims that whatever reimbursements that were due at the time of sale have been made. The family sold their land to Pitkin County Open Space and Trails at the end of 2010. Latest rent disputes over Base Village total $1.3 millionIn a lawsuit, Destination Snowmass Services maintains that Snowmass Hospitality, a lodging management company that runs the Mountain Chalet and Snowmass Inn and other properties, owes more than $360,000 in rent for office space and an arrival/check-in facility in Capitol Peak Lodge in Base Village.

Snowmass Hospitality denies owing money due to an understanding with the previous owner of the development “was not required to be paid until the Base Village project became profitable.”

Meanwhile, Snowmass Hospitality filed a separate complaint against the previous owners, Base Village Owners LLC, seeking $1 million in unpaid rent for a sales office on the Snowmass Mall. Related Colorado, a sister company of Base Village Owner, sold Base Village condominiums out of the office.
 National Geographic, PBS to feature Zeigler findA short article on the fossil find at Snowmass Village will appear in the February issue of National Geographic magazine, available on newsstands Jan. 31.  Additionally, “Ice Age Death Trap,” a one-hour “Nova” program, will air on Rocky Mountain PBS at 8 p.m. on Feb. 1. It follows scientists as they uncover bones of mammoths, mastodons and other giant extinct beasts of the Pleistocene Era.  Basalt —Judge upholds RFTA’s eminent domain claim The Roaring Fork Transportation Authority’s eminent domain action to seize land for a parking lot and bus stops in Basalt was approved last month by District Court Judge Gail Nichols.

RFTA will pay a $600,000 deposit to the court registry to gain immediate title of the approximately half-acre parcel. The owners of the land waived their right to challenge RFTA’s action reserved the right to seek additional compensation. The family’s appraisal valued the land at $1 million. RFTA offered $585,000.
 RFTA has a second eminent domain action pending for an adjacent, three-quarters of an acre parcel. The owner is not contesting the action.

Retirement community considered in BasaltA proposal by the Aspen Medical Foundation for a continuing-care retirement community in Basalt include 75 apartments and one-story cottages, 20 assisted-living units and a nursing home. It also includes affordable housing for between 75 and 100 workers and a day-care facility.
Four of five council members and all three planning commission members present at a presentation last month expressed support. The foundation is under contract to buy the 18-acre Stott's Mill site and wanted to get an sense of how Basalt's leadership felt about the project.
 Road realignment may chew up parkA consultant for Eagle County is recommending that East Valley Road be rerouted through popular Crown Mountain Park, to the south of the government building and community center. The county wants resolve stacking issues that occur at busy times as a result of the awkward design and improve pedestrian safety. The park was developed with a voter-approved property tax.  School district won’t rehire superintendentThe Roaring Fork District Re-1 school board voted 3-2 to terminate the contract of Superintendent Judy Haptonstall at the end of the school year. She is in her fifth year as the school district's superintendent. She has been under considerable scrutiny for several years. Grace Park open house set in BasaltAn open house on possible uses for Grace Park, the open space parcel next to Basalt High School, will take place from 5:30-7:30 p.m. on Feb. 2 at Basalt Town Hall. A community garden is envisioned and a BMX track for bicycles has been proposed for the 25-acre property. Trail improvements leading up onto Light Hill are also planned.  Basalt voters to decide bag banBasalt voters will decide in April if the town should ban plastic grocery bags and charge 20 cents for each paper bag. The ordinance in question bans plastic grocery bags and imposes a 20-cent fee on paper bags at the Clark’s Market in downtown Basalt and City Market in El Jebel. It will become the law on May 1, unless voters reject it.

 Pitkin County —Push back forces county to revise winter closure recommendationsAfter a barrage of negative comments, Pitkin County abandoned a recommendation for winter closures of popular recreation areas with mid-valley residents, including Arbany-Kittle and Light Hill. The county commissioners are now recommending that the Bureau of Land Management keep certain trails open year-round. Pitkin County will host an informational meeting from 6-8 p.m. on Feb. 15 at Basalt Town Hall to discuss its recommendations.  Feds contacted about coal mining near RedstoneGrand Junction-based Raven Ridge Resources, representing an unnamed client, contacted two federal agencies about application procedures to open a coal mine in Coal Basin, near Redstone. The area hasn’t been mined since the late 1980s. Realtors, business leaders meet with Tipton on Hidden GemsThirteen business people from the Western Slope met with Congressman Scott Tipton for an hour in Carbondale last month, urging him to support the Hidden Gems Wilderness Proposal for Pitkin and Gunnison counties.

They included real estate brokers Bob Starodoj and Bill Stirling, developer John McBride, architects Harry Teague and Steve Novy, Rocky Mountain Institute consultant Michael Kinsley, green building materials supplier Cedar Rose, gallery and frame shop owner Sally Norwood, ranchers Bill Fales and Ty Jacober, attorney Jim Starr, electric equipment supplier Michael Gibson and welding shop owner Chris Muhr. They hailed from Aspen, Basalt, Carbondale, Glenwood Springs, Gunnsion and Grand Junction.

They are part of a larger group of 176 businesses that signed a letter of support for the Hidden Gems that was sent to Tipton and U.S. Sens. Mark Udall and Michael Bennet. The Aspen Skiing Co. is the largest business to sign the letter.
 Road work on summer scheduleFive major road projects are scheduled in Pitkin County this spring and summer. They include:n  Chip and seal work on Brush Creek Road from Highway 82 to the Snowmass rodeo grounds;n  Major repairs to Woody Creek Road above the Flying Dog Ranch;n  Repaving of Redstone Road;n  Resurfacing Jack Gredig Road from Highway 82 to the county landfill;n  Resurfacing Smith Hill Way, off Highway 82. Interest in affordable housing dipsThe Aspen/Pitkin County Housing Authority reported that 2011 was a slow year for sales of affordable housing, with 60 sales worth $13.1 million. Nine resident occupied units were sold separately, adding $5.1 million.  In addition to slower sales, there were also fewer prospective buyers. One bedroom units remained in demand, with dozens entering the lottery for each unit, but larger units typically attracted interest from fewer than 10 buyers. 
Posted by gary on February 09, 2012 in
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