The story of the Lodge at Aspen Mountain goes back at least to the late 1990s, when the city council granted the townhome approvals for the site. But city officials wanted lodging on the near-slopeside site, and encouraged the developers to come forward with a hotel application, promising to extend the vested rights on the townhomes.
ASPEN REAL ESTATE – John Sarpa, the long-time public face of the Lodge at Aspen Mountain development proposal, is back in the picture after the would-be hotel’s South Aspen Street lot was sold by the bank as a distressed asset.Alcion Ventures, a Boston-based private equity real estate development group, purchased the 2.4-acre site in April for $15 million from Alpine Bank, which held a $22 million note on the land. For six years, the Aspen Land Fund, which was tied to California development company Centurion Partners, had been trying to get a new hotel through the land use process without success. Since the purchase, Alcion has brought on Sarpa — and Centurion Partners — along with local firm Bald Mountain Development, said Bald Mountain principal David Parker.Sarpa, indicating that he plans to keep a lower profile throughout the latest development process, directed all inquiries to Parker.
By Curtis Wackerle, June 25, 2010 Aspen Daily News