BASALT REAL ESTATE – In an effort to better control development and to insure a pool of local employees, the Town of Basalt enacted a rigorous housing mitigation ordinance in 2000 requiring developers to replace 100% of affordable housing displaced by development. That ordinance has proved to not be economically viable say developers, discourages any kind of development and may thwart two ambitous development plans for Basalt: 1) The replacement of the riverfront Pan and Fork Mobile Homes with a downtown commercial, retail and park plan; 2) A proposed plan for a mid-valley Basalt retirement community..
The architecture firm HRGA created a conceptual design in 2012 for a mixed-use project on the current site of the Pan and Fork Mobile Home Park along the Roaring Fork River and in the center of downtown Basalt, Colorado…. The plan includes a 120-room hotel along with 15,000 square feet for shops, offices, restaurants and 20 residential units. A 220 stall parking garage will be built beneath the entire project. The project will be connected to a public park adjacent to the Roaring folk river for the public to access. The paved plaza will have water features with ample space for public gathering, flanked by the restaurants and retail shops.