Basalt developer wants to revive stalled condo-hotel 48,000-square-foot project next to Stubbies will be turned into standard hotel

ASPEN BASALT REAL ESTATE — The developer of a stalled condominium-hotel project in Basalt wants to overhaul the plan and build something more likely to secure financing in the economic climate.A Chicago-based firm called Snow River Lodge Inc. wants to convert the condo-hotel project into a traditional hotel, representative Jim Richmond told Basalt officials in a recent meeting.His company has approval to build 54 lodge rooms and two affordable housing units on vacant land between Highway 82 and the Roaring Fork River adjacent to Stubbies bar. The total approval is for about 48,000 square feet. The project stalled 18 months ago after the concrete foundation was poured. The owners “lost financing” during the recession, according to Basalt Assistant Planning Director James Lindt.By Scott Condon, Jan. 30, 2010 Aspen Times

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