DOWNTOWN BASALT REAL ESTATE – The non profit group that owns precious 2.4 acres of downtown Basalt riverfont property, the Roaring Fork Community Development Corp (RFCDC), indicates they are optimistic about developing the land in spite of recent revelations concerning debt problems of its partner, Realty Capital Management. A recent report to the Town of Basalt revealed that a principal of the firm, Richard Myers, is facing foreclosure and a $5M civil fraud case tied to recent development woes on another project. The consultant’s report says that Myers might not have the capacity to redevelop the Pan and Fork Mobile Home Basalt site which could jeopardize the success of the proposed development. The mixed use plan calls for a hotel, commercial space and residences on the RFCDC property. And on an adjacent town owned parcel, the Town of Basalt would create a park along the Roaring Fork River.
Link to article May 17, 2013 AT
Downtown Basalt Pan and Fork Mobile Home property considered for redevelopment.