New Developer of Minturn, Colo. Ski Resort Shrinks Plan in Response to Economy

Minturn, CO – The new developer of a proposed ski resort near Vail has scaled back its plans for the site in response to pressure from the economic downturn.nCanadian developer Crave Real Estate, which has replaced Ginn Co. in developing the ski resort on Battle Mountain in Minturn, now proposes building four or five ski lifts instead of the 13 originally envisioned. Additionally, Crave has eliminated a hotel, golf course and two-thirds of the commercial space planned for the project, turning instead to the town of Minturn to fill that need.

The project’s revised plans now require final approval from the town. Town officials have expressed concern about the developer following through on $180 million of public improvements associated with the project promised by Ginn Co., including water treatment plants, a new recreation center and sidewalks and other amenities. It is hoped that the new plan, and its reduced water demand, will help the developer resolve a myriad of lawsuits over water rights for the project.

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Ginn’s plans for the luxury ski resort, modeled after nearby Beaver Creek, originally called for up to 1,700 luxury homes on the 5,400-acre property south of Minturn, 4,300 acres of which would be annexed to the town. Crave has scaled that back as well, now anticipating up to 1,600 homes.

Information from the Vail Daily www.vaildaily.com

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