A Vail development group announced Tuesday (10/6) it will buy most of the remaining assets of Base Village in Snowmass Village. The major project at the base of the ski area is currently being managed by Related Colorado.
East West Partners and an affiliate of KSL Capital Partners have entered into a Letter of Intent with Related Colorado. That means they will assume the role of master developer for projects such as the next phase of the Viceroy Hotel. The Aspen Skiing Company’s plans to develop the Limelight Hotel have not changed.
“We believe Snowmass is a world-class ski area, with a terrific owner, and look forward to completing Base Village to complement the area and enhance the guest experience,” said Craig Ferraro, managing partner of East West Partners.
East West Partners has developed more than $3 billion worth of residential and commercial real estate, mostly in upscale resorts. They’ve had projects in Beaver Creek, Breckenridge and Deer Valley, Utah.
The company says the transition will not impact the timeline for development. The acquisition is contingent on completion of due diligence as well as final approval by Snowmass Town Council of an amended development plan. Council last week approved the preliminary version.