The Basalt Town Council waived affordable housing mitigation rules on Tuesday night in order for the Aspen Valley Foundation’s (AVF) proposed phased 148 unit senior housing project – offering continuing care and a retirement community – to proceed. Under the town code, the AVF would have had to build 12 employee units or pay $260,000 cash in lieu of providing housing to the town. Struck hard by the recession, Council members see the projecy as a great benefit to Basalt and the mid-Valley community. The AVF has been trying to find a suitable location for the retirement community in Aspen for most of the past decade, but when the proposed residential 110-home Stott’s Mill residential subdivision project in Basalt’s Southside neighborhood near the High School failed due to the economic downturn, an opening for the retirement community came about.
Photo credit: Aspen Times