BASALT — A development project featuring seven free-market residences and 103 affordable housing or local-oriented units was given final approval Tuesday night by the Basalt Town Council in a 6-0 vote. The Stott’s Mill project will be built along Southside Drive, the road to Basalt High School. It features 33 deed-restricted, price-capped units; 15 “resident occupied” units with appreciation caps that must be sold to full-time residents of Basalt; 53 resident-occupied units without appreciation caps; two units that will be dedicated to the downvalley school district; and the seven free-market units.When completed, the real estate project will also include a 3,300-square-foot day-care facility and a 4.5-acre park.
Aspen Times Staff Report, Oct. 29, 2009, Aspen Times


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