KAJX

Retirement community project in Basalt cancelled

Jul 24, 2015

This sketch shows a continuing care retirement community in Basalt. The project has been cancelled because an option to purchase land for it expired.
Credit Aspen Valley Foundation

A failed effort to develop a retirement community in Basalt is disappointing but not surprising to officials involved. 

Tom Griffiths, with the now defunct Aspen Valley Foundation, knew 19 months ago seeing the project through was a long shot. The foundation had lost its CEO and Griffiths began meeting with local governments, hospitals and banks. He wanted someone to take over the $105 million project.

"I just felt it was a needed facility for the population in the Valley," he says.

Griffiths was in discussions with a real estate group when the Foundation’s option to purchase the land expired. The facility, called a continuing care retirement community, would have included 96 independent living units, 18 duplex-style single family residence units, 78 apartments, 30 assisted living units, 24 skilled nursing units and a daycare. 

Marty Ames with Pitkin County Senior Services says it’s disappointing because a such facility is badly needed. She's hopeful a similar proposal will eventually materialize.

More than 20 percent of Pitkin County's population is 60 and older and the senior population is expected to more than double by 2030.