More affordable residential units may soon be built in one of the most expensive cities for housing in the West.
Members of the Aspen City Council are on the verge of annexing a 3-acre parcel beyond county lines with the hope that the site will eventually see the construction of a 310-unit affordable housing complex.
That site, which the city purchased last year for just under $11 million, is located inside the boundaries of the Airport Business Center, some 4 miles to the northeast of downtown Aspen.
It is thought that it could cost as much as $330 million to build out a project that will include 172 underground parking spaces, as well as 120 carports.
The exact configurations of the project have not been officially decided, but earlier reports indicated that it may see the building of a combination of one, two, and three-bedroom units, with some of those units available for rent and others to be sold.
A public hearing centered on the bid to annex the property is scheduled for March 8.
Aspen, with a population of just over 7,000, is regarded as one of, if not the most expensive cities for housing in Colorado: the average home last year listed for $5.3 million.
By Garry Boulard
