ASPEN REAL ESTATE – MID-VALLEY/EL JEBEL — An El Jebel townhouse project that’s been stalled for roughly 18 months was purchased by an Eagle Valley developer who said he intends to restart construction this month.Dave Forenza, a developer and contractor from Edwards, purchased the Shadowrock project March 31 for $16.5 million, according to a deed filed with the Eagle County Clerk and Recorder. He bought it through an entity he created called El Jebel Townhomes Borrower LLC, of which he is the principal. Forenza said the purchase price was for the undeveloped portion of the project — about 70 townhouses. He also bought seven units that the former developer constructed but wasn’t able to sell. That boosted the purchase price to about $22 million, Forenza said.
By Scott Condon, April 14, 2010 Aspen Times

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