The Willits Town Center project is in a world of hurt right now. Chicago-based development firm Joseph Freed and Associates (JFA), through its Willits Town Center Partners, ran out of financing in September 2008 after a parking garage and much of the infrastructure was completed. Construction stalled, and there is now a concrete hole surrounded by dirt mounds and construction debris.Whole Foods Market’s first lease for the 44,000-square-foot store lapsed when JFA didn’t meet deadlines. The developer renegotiated a lease for a 25,000 square foot smaller store on March 2…Land-use changes are needed by Sept. 2 to preserve lease for market at Willits
ASPEN BASALT REAL ESTATE — The Basalt Town Council agreed Tuesday night to “fast-track” the review of the Whole Foods Market building in Willits Town Center, but the board made no promises about the outcome.Town Manager Bill Kane said a “fast-track schedule” is warranted to try to get the stalled project started in these particularly tough economic circumstances. Kane also said it would be fair if the town put a time limit on any concessions that might be granted. If the market isn’t built in a certain amount of time, the amended approvals would be voided and it would revert to the current rules under that scenario.The Basalt Planning and Zoning Commission will start reviewing amendments to the approval next week, with the goal of making a recommendation to the council by early August.
By Scott Condon, July 21, 2010 Aspen Times