SNOWMASS VILLAGE — Interest rates on $32.6 million in bonds two Base Village metro districts issued in July 2008 have shot up to 10 percent from 1 percent as a result of actions taken recently by the Related Cos., the former owner and developer of the project at the base of the Snowmass Ski Area.
In the mix of property owners are two billionaires and two Aspen locals with a history of successfully taking on local governments.
The project’s previous owner was Base Village Owner, LLC, an entity controlled by Related Cos. of New York, which defaulted on a $520 million acquisition and construction loan in April 2009.
USFS makes a call on access to Powder Tours terrain
It wasn’t much, but it was one of the few public statements made by an owner of the project since the previous owners, Base Village Owner LLC, a subsidiary of the Related Cos. of New York, walked away in 2009 and defaulted on a $520 million loan from the banks.
A trio of judges in the Tenth Circuit Court of Appeals denied an appeal on Nov. 8 in a lawsuit seeking to block the construction of an egress trail connecting lower Burnt Mountain East to Two Creeks, which was approved by the U.S. Forest Service in 2003.
Changes to a popular parking spot for backcountry skiers and travelers.
After a foreclosure sale on the steps of the Pitkin County Courthouse on Nov. 16, the Related Companies and its entity Base Village Owner LLC no longer own the Base Village project. But the giant private real estate firm based in New York is still wrangling in court with the new apparent owners of the […]
SNOWMASS VILLAGE — The developers of the stalled Base Village project at the base of the Snowmass Ski Area have been quick to blame the Great Recession for the project’s current state. But as a series of lawsuits between the developers and its lenders and investors show, there were a number of decisions made along […]
It’s part Dodge City, part Neverland.