ASPEN REAL ESTATE – Aspen Club Living, which is the marketing concept under which the club plans to sell the timeshares, (the day after City of Aspen approved redevelopment for the Aspen Club and Spa- editor). Families will be pitched on the project as a way to get together for a mind, body and spirit rejuvenating retreat. The sale of the timeshares is supposed to finance a major renovation and remodel of the club, securing its existence well into the future.But in case Managing Partner Michael Fox hasn’t noticed, timeshares and fractional ownership units aren’t exactly a hot commodity right now. Inventory is rising — to somewhere between three and four years’ worth of supply, according to real estate experts — and sales volume is down. The average timeshare or fractional is still selling for around $500,000, according to a recent report from Land Title Guarantee Company.Fox said he’s not worried, calling the project unique in nature. No other timeshare project is centered around a health club and spa that will be newly remodeled during the construction, he said. Plus, Fox has five years to apply for a building permit, which might be enough time for an economic rebound.
By Curtis Wackerle, June 3, 2010 Aspen Daily News Staff Writer

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