BASALT – — A Chicago-based developer wants an extension of his approvals for a 60-room hotel in Basalt so he can finally build or sell the property now that the economy is rebounding.
Jim Richmond’s vested rights for the Snow River Lodge along the Highway 82 Basalt Bypass are scheduled to expire in June. He and his partners in Snow River Lodge Inc. want them extended for two years.
“It’s been tough out there finding financing or buyers,” said Chris LaCroix, Richmond’s attorney. The two-year extension of vested rights are essential to positioning the project for completion.
Without the extension, the approvals would still exist, but the project would be required to follow changes to Basalt’s land-use code in the past two years. That would mean a tougher affordable-housing requirement, according to Basalt’s planning staff.
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