CRESTED BUTTE MASTER PLAN INCLUDES EXPERT, INTERMEDIATE TERRAIN
Crested Butte Mountain Resort (CBMR) has begun the process of creating a master plan for the future of its ski terrain, according to published reports. The new master plan includes lift-accessed expert skiing in the Teocalli Bowl, which was opened for a time in the early '90s, and expansion on to Snodgrass Mountain. CBMR expects the plan to be completed sometime within the next six to 12 months for Forest Service review.
Expansion onto Snodgrass Mountain has been a subject of discussion since the idea was first proposed in 1982. Currently, CBMR is emphasizing that development of lift-served skiing on Snodgrass Mountain is critical to the success of the resort and the livelihood of the community. CBMR points to its professed lack of sufficient intermediate terrain as a reason to expand onto the intermediate terrain-rich Snodgrass Mountain. The expansion would add roughly 400 to 500 acres of terrain to the existing 1,058 acres, putting CBMR into the same league as Telluride and Winter Park.
CRESTED BUTTE SHERATON BOUGHT; RENOVATIONS PLANNED
Gart Properties and East West Partners paid an undisclosed amount to buy the Sheraton Hotel in Crested Butte, according to the Rocky Mountain News. The new owners plan to change the name in mid-April, to The Lodge at Crested Butte, and will put more than $5 million into renovations of the 240- room hotel, said Gart partner John Gart. He said he, as well as East West, met with Tim and Diane Mueller, the new owners of Crested Butte.
The partners plan to transform one of the hotel's two towers into condominiums, with sale prices likely beginning at less than $100,000, Gart said. When it's completed in late fall or early winter, the project is expected to have 90 condos and 120 hotel rooms, he said. Plans also call for upgrading of existing hotel amenities, including an indoor-outdoor swimming pool, a restaurant and health club, Gart said.
Gart Properties, the real estate arm of Denver-based The Gart Cos., which is no longer associated with Gart Sports, and East West have partnered on a similar deal previously at the 82-unit Iron Horse Resort in Winter Park.
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