Company cancels purchase of Sunlight Mountain Resort
Glenwood Springs, CO Colorado
GLENWOOD SPRINGS, Colorado ” The Florida-based Sunlight Development LLC has terminated its contract to purchase Sunlight Mountain Resort.
The purchase depended on Garfield County commissioners’ approval of the 830-unit housing project and new base area development at the local ski area.
In a letter to Garfield County Planning Director Fred Jarman on Dec. 30, Sunlight Development’s attorney Larry Green requested that a public hearing scheduled for Jan. 19, regarding presentation of the PUD, be postponed until an available county commissioner meeting in May.
“The purpose of this postponement is to allow the current property owners to make an informed decision about how to proceed with the land use application,” Green wrote.
The board approved moving the hearing date to May 18. At that time Sunlight General Manager Tom Jankovsky plans on moving forward with the development.
“They (Sunlight Development LLC) can’t get the approvals they need to purchase the property, and they are encouraging us to move forward with the application,” Jankovsky said.
Jankovsky said that the Glenwood-based ski area is not up for sale and that its current owners, Sunlight Mountain Inc., will take the lead on the development as planned despite the Garfield County Planning and Zoning Commission unanimously voting against the proposed development in November.
“We believe we have a good application, and it will be a little stronger with us as the lead because we will be able to better address a lot of the issues that were brought up by planning and zoning,” Jankovsky said.
Jarman noted at Monday’s meeting that the county doesn’t have a postponement option for PUDs, and that groups either withdraw the application and come back when they are ready to move forward, or ask for a continuance on the basis that the PUD won’t change. But if the submitted plan is changed then Jankovsky would have to go through the entire application process again.
While starting over is a possibility, Jankovsky is hoping to make the current PUD work.
“We are going to try and make this application work,” Jankovsky said. “If it doesn’t, we’ll go back to the drawing board.”
Sunlight entered into the contract with Florida-based Exquisite Development in late 2006. Exquisite then formed Sunlight Development LLC.
While the sale amount remains confidential, Sunlight’s asking price was $50 million.
Contact John Gardner: 384-9114
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