Tough times stalls work on several projects. A little more than one year ago officials with the town of Basalt and Eagle County were concerned about an overwhelming level of development activity under way or in the pipeline in the midvalley. The national credit crunch has brought that frenzy to a screeching halt. The highest-profile project, the Whole Foods Market building at Willits Town Center, was shut down by developer Joseph Freed & Associates on Labor Day weekend. Construction companies and providers of materials filed nearly $8 million in liens this month for bills they claim haven’t been paid by Joseph Freed & Associates. Virtually across the highway, a high-end luxury townhouse project pursued by a Texas development firm has stalled after only one-third of the units were completed.
By Scott Condon, Dec 29, 2008, The Aspen Times, Aspen, CO
Link to full article and list of development projects mid-valley