Club will tax timeshare sales for wellness fund

ASPEN REAL ESTATE – Aspen City Council approved the Aspen Club and Spa’s proposal to develop timeshares on its Ute Avenue property in a 3-to-1 vote Tuesday.“My gut tells me that when all things are considered, this community is better off with the Aspen Club than without it,”Skadron said, voting in the majority with councilmen Dwayne Romero and Derek Johnson. Mayor Mick Ireland dissented.The current owners of the Aspen Club, who bought the property in 1996 and first proposed the expansion in 2005, now have permission to construct about 90,000 additional square feet that includes 20 condominiums that will be sold as timeshares, 14 affordable housing units and an underground parking garage with 41 spaces. Most of the new development will occur on the site’s lower bench, near the Roaring Fork River, where tennis courts currently exist.The proceeds from the sale of the timeshares are intended to provide a reinvestment in club facilities.
By Curtis Wackerle, June 2, 2010, Aspen Daily News

Link to article