Spring Valley Ranch sells again | PostIndependent.com

Spring Valley Ranch sells again

Spring Valley Ranch has changed hands once again. Formerly known as Chenoa, the 6,000-acre property reportedly sold for $28 million, according to the Aspen Times, which reported the sale on Dec. 29.

The property has county approvals for 577 homes, 20,000 square feet of commercial space and two golf courses.

The subdivision plan has been on the books since 1984, initially as an upscale housing development of 2,750 homes, a 150,000-square-foot “village center,” and two 18-hole golf courses.

The land has changed hands and been whittled down over the years. Most recently, it was owned by Spring Valley Developers whose principal partner is the Lehman Brothers investment banking company.

In October, the Garfield County Commissioners approved an amendment to the preliminary plan for the planned unit development that gave developers one year to put their final plans in place and time to find backing for the project.

Attorney Jim Lochhead, who represents Spring Valley Developers, confirmed the property has sold but would not reveal the names of the new owners or the selling price.

Contact Donna Gray: 945-8515, ext. 510


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