ASPEN REAL ESTATE – The stalled Main Street Stage Three project, foreclosed upon and sold at auction for $3.6M in Aug. 2010, received City Council approval for a slightly downsized project put forward by its new owner, a Jeff Cardot financial trader from Chicago. Cardot will now build a structure with three free-market condos versus the originally planned five, and two affordable housing units versus five. The affordable housing units will be switched from one-bedroom apartments to 1,500-square-foot three-bedroom units.The project includes commercial space on the 1st, 2nd and basement levels, as well as an underground parking garage for 16 cars. Owners of the affordable housing units will each have one space in the garage, which will use a hydraulic lift elevator for access.

Link to 04/26/11 ADN article

The aborted Sate 3 project on Main St. Aspen (Photo courtesy of ADN)