Developers Prep For Construction On Long-Stalled Aspen Building
A multi-story building in Aspen that’s been unfinished since the recession could see construction work this Fall. Developers of the Dancing Bear’s “Mountainside” building want to open the luxury residence club by the end of 2015. Aspen Public Radio’s Marci Krivonen reports.
Randall Bone is CEO of Sunrise Company, the development group behind the two Dancing Bear buildings. Today he’s taking a small group on a tour of the “Parkside” residence club in downtown Aspen.
"The units are three-bedroom, three and a half bath and they all feature very high quality finishes," he says as he walks through a lavish 2000 square foot living unit.
Just outside the unit, is a hallway.
"There’s an owner ski locker just around the corner there, so when the owners are in residence, they have lockers. Obviously, the service staff is taking care of ski valet."
Nearly everything is taken care of for the guest here. Refrigerators are stocked and ski passes purchased before guests even arrive. But, this luxury fractional property comes with a price. One share, which allows a stay of at least three weeks in the summer and another three weeks in winter is $785,000.
Across the street from the “Parkside” building is a shell of a structure. The recession stalled construction on building two of the Dancing Bear, called the “Mountainside.” Two years ago, Randall Bone’s group, Sunrise Company, took over.
"Since we came back in, the sales have been really strong here and we’ve been working with the town since the beginning of this year to get that new building started," says Bone.
The new building will include units similar to those in the existing building, a new restaurant, an indoor spa and two employee housing units. An underground tunnel will connect the two buildings.
Bone says he’s excited to start work on the building that’s a reminder of tough economic times.
"It’s a product of the recession, but most of the people who see it now see opportunity instead of distress. It’s no longer a monument to the recession but a monument to the resurgence of Aspen and the success of both this project and what the whole town is enjoying now. And, we’re anxious to get it built."
Before construction can start, Sunrise needs a building permit from the City of Aspen. Bone says he expects to get that in the next 30 days. City officials say, at this point, they’re unsure when the permit will be issued. If all goes according to plan, it’s possible construction could start later this fall.