The following is quoted from The Observer, a publication provided by The Aspen Board of Realtors regarding real estate, local economy and development in Aspen, Snowmass and Basalt.
Observer Exclusive —
Mayor: Snowmass Village a place worth taking a risk
The Observer interviewed Snowmass Village Mayor Bill Boineau for perspective on Related Cos. acquisition of Base Village on Sept. 27. The $90 million deal represents a major milestone both for the development, much of which remains to be completed, and for the community which has been waiting for resolution.
Related Colorado President Dwayne Romero has said the company plans to begin work right away on the project, which has vesting rights into 2014.
The Observer: The community has been waiting a long time for the Base Village situation to resolve itself. That appears to be happening now. What are you hearing around town from various people about the deal?
Bill Boineau: I believe there is a positive feeling out there right now. With certain things like Base Village and Westin Snowmass moving forward, there is a sense that Snowmass Village is a place where its worth taking a risk. The growth and redevelopment potential is here.
But we want to make sure that all of this is more than just a real estate deal. We’ve got a hellauva mountain community here, with amazing people and assets, that needs to be front and center.
The Observer: Things have changed dramatically with the economy since Base Village was approved in 2004. What do the economic changes mean for the community and this development?
Bill Boineau: I think the owners of Base Village and the community are ready to have this conversation, to understand how the world has changed with respect to this development.
We need to question whether the assumptions that we made prior to 2004 still hold water. Or, has there been a large change in what resorts are today in comparison? We need to ask what we’re looking for as residents and for our guests.
The Observer: What do you see happening in relation to Base Village in the short term?
Bill Boineau: I think Related is going to do some things, like selling the Viceroy units as originally intended, and fixing building 7 to make the guest experience better.
We also have to recognize the developer will want some changes to the PUD, that they may have some thoughts possible about changes in the development. We need have a dialogue to develop understanding of what needs to happen from the developer’s and the community’s perspective.
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