The stalled Boomerang Lodge redevelopment project, still without financing, is asking the city to extend the time frame in which its land-use approvals are valid. With all the tribulation in credit markets over the last year, developer Steve Stunda said his efforts to get a new loan for the $40 million to $50
million project have been unsuccessful. He has applied for a five-year vested rights extension, although “I’d take more,” he said.
By Curtis Wackerle, July 6, 2009, Aspen Daily News

Link to article