Aspen Club Timeshare Development Approved

Aspen Club and SpaThe Aspen Club and Spa’s proposal to develop timeshares was passed on Tuesday June 2nd by a 3 to 1 vote by the Aspen City Council. Councilman Steve Skadron unexpectedly voted in favor of the timeshares, though still unsure whether any guarantees would be upheld to provide public benefits. This decision was made with the consideration that had these timeshare proposals not been approved for construction then the entire aspen club and spa may be closed down. The new developer would most likely demolish the aspen club to build homes in place of it.

The approved motion will allow the club to build on an additional 90,000 square feet and construct 20 new condos to be sold as timeshares, 14 housing units and a new 41 space underground parking structure. These new developments will take place close to the roaring fork river near the tennis courts. The proceeds from the timeshare sales will go towards improving other facilities at the club.

Mayor Mick Ireland and council member Skadron are deeply invested in making sure an athletic facility will remain accessible to local residents.  The club has also promised to allot a 0.25 percent assessment of the sale of timeshares to go towards a fund for enhancement of community health and wellness. This assessment is estimated to make between 250,000 and $500,000 throughout the 25 year duration, assuming the initial sales of timeshares are around $80 to $100 million. The club will also spend $5 million on capital and programming improvements.

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