Property Description

We have raised 31 million and am only in need of $150,000! This is a LIMITED OFFER EQUITY participation opportunity. 

This is the last developable acreage in and around Core Aspen!

We have the opportunity through family connections to purchase.

It would support around 84,000 SF of development comfortably and possibly more.

We would renovate the existing Raquet club and courts.

Aspen development is proposing 70% affordable housing and 30% free market in three buildings with penthouses being free market.

This would provide revenues of around $60 million for affordable housing and the credits and around $95 million for free market sales revenue.

The land will be $14 million and will build out in three stages for around $10 million per stage

All in around $40 million and out around $160 million.

Entitlements are not yet in place but are very likely or something close to our proposal.

3 years approximately for entitlements.

Scope of work

4 Buildings proposed:

Underground parking potentially

Free market is selling new construction upwards of $3,000 per square foot.

Affordable housing is in high demand and the housing certifications, which are purchased by other developers have the following breakdown: 1 bedroom = 1.75 housing certifications, 2 bedroom = 2.25 housing certifications, each certification is worth approximately $350,000.00.

Build out: studios, 1-2 bedroom units, also some 3- 4 bedroom penthouses.

The property is the last large lot left in Aspen and is a very desirable area with views of Aspen Mountain and walk across the bridge into Aspen, walking distance to all amenities.

Todd Proffit proposed development 2014 and did a presentation to the board and it is clear we are on the same page with our proposal for the board and the town.

The condominiums will be built with Redstone and Iron finishes that reflect the mining towns history and natural geo

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