“From our view, there’s still a base approval here, and an owner who is stabilized and an owner that’s got the capital structure and capital plan to support our tactical business plan for the next several years,” Romero said. “Does it solve all the ills of Base Village and the larger community problem of our economic recovery? Of course not. But does it help elevate a little bit of confidence? Sure.”
Dwayne Romero is well aware that Snowmass Village residents and officials are champing at the bit for answers about the future of Base Village. On Thursday, though, the head of Related Colorado said uncertainty will remain a feature of the development once heralded as transforming Snowmass Village into a new Whistler Blackcomb-esque ski and summer resort. With so many varying factors about post-recession resort development, moving slowly on the future of the project and its incomplete buildings that litter the base of the Snowmass Ski Area is entirely justified, Romero said. His company is a subsidiary of the New York-based Related Cos. that recently bought Base Village back out of foreclosure for $90 million. He and his staff may go before the Snowmass Village Town Council in December or January to talk about the immediate steps for Base Village, and what the community can expect in the coming years for a project that has approvals for 1 million square feet of development.
By Chad Abraham, Oct. 28, 2012 ADN
While the well-capitalized developer Related Companies again holds the reins of Base Village, the details of how the project will get finished remain uncertain, with the first round of vested building rights set to expire in 2014.