Bair Chase sale now official | PostIndependent.com
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Bair Chase sale now official

Donna GrayGlenwood Springs, CO Colorado

GLENWOOD SPRINGS, Colo. Sale of the beleaguered Bair Chase property south of Glenwood Springs was officially recorded at the Garfield County Clerk and Recorder’s office Friday, Dec. 28. According to the registration records, Pat Smith and his development firm, WestPac Investments LLC, and The Related Co. purchased the property for $18.5 million.Smith recently purchased the commercial and residential components of Base Village at the base of the Snowmass Ski Area.Bair Chase, a 280-acre residential golf course development, went through foreclosure in April when Plains-Capital Bank of Austin, Texas, which held the primary mortgage on the land, bought it at a public trustee sale.Bair Chase, as a proposed development, has had its share of legal troubles since its first concept, Sanders Ranch, in 1997.The ranch, formerly owned by Union Oil, was targeted for 500 houses, an 18-hole golf course and 700,000 square feet of commercial development. But the plan was turned down by the Garfield County commissioners in the face of strong public sentiment.The most recent county-approved plan for the golf community calls for 62 single-family lots and 168 multifamily units surrounding an 18-hole golf course.In the summer of 2005, earthwork began on the ranch, apparently before permanent financing was in place. A historic barn on the property was also leveled, sparking public outcry. A few weeks after excavating began, work ground to a halt when the developer could not pay contractors. In November and December 2005, Gould Construction Inc., Schmueser Gordon Meyer Inc., both of Glenwood Springs, and Weitz Golf International of West Palm Beach, Fla., filed mechanics liens. Gould is claiming $1.1 million for excavation, Schmueser Gordon Meyer $127,637 for engineering and Weitz $1.8 million for golf course design.Gould and Schmueser Gordon Meyer have also filed lawsuits against Bair Chase.Gould Construction owner Mark Gould said Tuesday he hasn’t heard from Smith and hasn’t seen any money. “No one has been paid,” he said. “Only (Plains-Capital) has been paid, that’s it.”His lien, as well as Schmueser Gordon Meyer’s, continue with the property when it changes hands. So Gould will now transfer his lawsuit to Pat Smith and his holding company. Unless, of course, he hears from Smith. “I’m hoping they’ll talk to us,” Gould said.Contact Donna Gray: 945-8515, ext. 16605dgray@postindependent.comPost Independent, Glenwood Springs Colorado CO


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