“Since taking ownership of the property in 2010, the new/current ownership group studied all types of lodging plans, lodging ownership and financing scenarios, and conferred with every major lodging operator they could, only to discover that a lodging plan or even a lodging component is not a possible scenario given the current economic climate,” planning consultant Mitch Haas wrote in the application.

ASPEN REAL ESTATE – …The owners of the South Aspen Street parcel once planned for the Lodge at Aspen Mountain – a 2.4-acre site near the base of Lift 1A purchased in April 2010 for $15 million from Alpine Bank – are choosing instead to revert back to a residential project approved in 2003, which, at the time, received entitlements for 14 free market townhomes and 17 affordable housing units… By pulling the plug on the hotel, the owners — tied to Boston-based real estate investors Alcion Ventures and other groups — end more than a year’s worth of speculation about their plans for one of the last large undeveloped parcels in the city.
By Curtis Wackerle, Oct. 14, 2011 ADN

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Credit: Drawing of Proposed Lodge at Aspen Mountain at the base of Lift 1A by Bill Poss Architecture.The lodge, at one time planned at up to 175,000 square feet, was rejected multiple times by Aspen City Council in 2006-2008 over size, mass and character concerns.