Condo buyers at the newly rebuilt Christiana Aspen, Aspen’s latest condominium hotel, should be able to spend the holidays in their new digs, if they so choose.
The first 16 condos in the redeveloped lodge should be finished by mid-November at the latest, if work continues apace, according to Greg Hills, managing partner for a group of investors who are redeveloping the property. A new pool and spa will also be ready for use.
Thirteen of the units are now under contract, Hills said, going for $305,000 on the low end to $1.4 million for one of the larger condos in the Main Street complex where the old Christiania Lodge and Chalets once stood.
Hills’ group began selling the condos about 18 months ago. The lender for the project wanted at least eight presold before the developers could break ground.
They had “zero” trouble lining up buyers, basically via word-of-mouth marketing, according to Hills.
“Quite honestly, there haven’t been new condos like this, built in Aspen, in probably 25 years,” he said.
The city’s lodge preservation zoning requires Christiana buyers to make their units available for short-term rental by guests, like a standard lodge, at least six months out of the year.
“We’ve told people very much up front that this will be a condominium lodge, and we want it to operate like that,” Hills said. “You do have the option of picking your six months, and they don’t have to be contiguous months.”
Most of the condos are smaller, one-bedroom units – the kind that buyers are more likely to want in a rental pool, he theorized.
An on-site manager will handle the room rentals; Hills expects the visible Main Street locale to attract visitors who are looking for a place to stay.
“We think people who drive into town will want to spend a night or two,” he said.
When it’s finished, the Christiana will have 25 condos, along with three employee housing units.