The Dancing Bear fractional-ownership project was billed as a two-phase development, but only the first phase, located at the corner of Monarch Street and Durant Avenue, has been completed. It continues to operate. Construction on the second phase, at the old Chart House location, came to a halt last year when the project’s financing dried up.
ASPEN REAL ESTATE — The Dancing Bear Residences development in Aspen was given clearance by a federal judge Monday to remain in bankruptcy, despite efforts by one of its corporate members to throw out the Chapter 11 reorganization plan.Denver bankruptcy Judge Michael Romero, in a 12-page order, ruled that it’s in the best interest of the debtor and creditors for DB Capital Holdings — the corporate entity that owns the embattled project — to remain in bankruptcy.
By Rick Carroll, Nov. 30, 2010 Aspen Times