{"id":2454909,"date":"2020-02-24T00:00:00","date_gmt":"2020-02-24T07:00:00","guid":{"rendered":"https:\/\/www.aspentimes.com\/?p=321425"},"modified":"2020-02-24T00:00:00","modified_gmt":"2020-02-24T07:00:00","slug":"council-approves-lofts-at-red-mountain-phase-iii","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/kspn\/local-news\/council-approves-lofts-at-red-mountain-phase-iii\/","title":{"rendered":"Council approves Lofts at Red Mountain phase III"},"content":{"rendered":"
<\/div>\n

Nurses, teachers, baristas, ski patrollers and budtenders.<\/p>\n

According to the Lofts at Red Mountain\u2019s co-developer, people in those professions and several others, currently reside in the apartment complex in the Glenwood Meadows.<\/p>\n

\u201cI could go on,\u201d said Richard Myers, Realty Capital managing director, at the Feb. 20 City Council meeting. \u201cIf our units aren\u2019t affordable, then how do those people afford them?\u201d<\/p>\n

City Council, in a 6-1 vote, approved the development\u2019s third phase. Councilmembers Steve Davis, Tony Hershey, Rick Voorhees, Charlie Willman, Mayor Jonathan Godes and Mayor Pro Tem Shelley Kaup voted in favor of the project\u2019s proposal. Councilwoman Paula Stepp voted against it.<\/p>\n

Stepp\u2019s concerns largely centered on parking.<\/p>\n

\u201cLet\u2019s take care of the people moving into these places to the degree that we can,\u201d she said.<\/p>\n

The proposed project was expected to provide 101 parking spaces but fell six short of that.<\/p>\n

The forthcoming 89-unit apartment building, which includes three floors of studio and one-bedroom apartments on top of a lower level parking garage, will be developed along the north side of Wulfsohn Road between East Meadows Drive and Market Street.<\/p>\n

\u201cI\u2019m glad to see that we have workforce there,\u201d Willman said. \u201cI suspect a lot of those people are working two jobs to make that work.\u201d<\/p>\n

According to Myers, the Loft\u2019s earlier phases filled up faster than any other project in Realty Capital\u2019s 30-year history as a company.<\/p>\n

Based out of Irving, Texas, Realty Capital\u2019s portfolio features predominately residential and commercial properties throughout Texas.<\/p>\n

\u201cRents range from about $1,500 to about $2,500 a month or so,\u201d Myers said. \u201cThey are not officially affordable per, you know, an affordable housing unit, but actually they\u2019re very affordable.\u201d<\/p>\n

According to loftsatredmountain.com, a 3 bedroom, 2 bathroom unit at the Lofts costs between $2,960 and $3,080 a month to rent. A 2 bedroom, 2 bathroom unit at the Lofts rents for between $2,355 and $2,980 a month.<\/p>\n

\u201cThis is working,\u201d Myers said. \u201cEven without rent control.\u201d<\/p>\n

Only one member of the public came forward to talk about the project.<\/p>\n

\u201cI don\u2019t think these rents are affordable,\u201d said longtime Glenwood Springs resident Michael Hoban. \u201cI think the prices are ridiculous.\u201d<\/p>\n

mabennett@postindependent.com<\/a><\/span><\/p>\n

via:: The Aspen Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nurses, teachers, baristas, ski patrollers and budtenders. According to the Lofts at Red Mountain\u2019s co-developer, people in those professions and several others, currently reside in the apartment complex in the Glenwood Meadows. \u201cI could go on,\u201d said Richard Myers, Realty Capital managing director, at the Feb. 20 City Council meeting. \u201cIf our units aren\u2019t affordable, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49],"tags":[],"class_list":["post-2454909","post","type-post","status-publish","format-standard","category-local-news"],"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-08-18 14:07:48","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSPN The Valley's Quality Rock","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/kspn","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/posts\/2454909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/comments?post=2454909"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/posts\/2454909\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/media?parent=2454909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/categories?post=2454909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/tags?post=2454909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}