WestPac still mum on Cattle Creek’s future
Glenwood Springs, CO Colorado
GLENWOOD SPRINGS, Colorado ” Related WestPac has said little so far about whether apparent cash flow problems will affect its plans to build over 1,000 homes in the Cattle Creek area between Glenwood Springs and Carbondale.
In March, six contractors filed liens against the Cattle Creek Colorado property Related WestPac and River Bend Colorado hope to develop. The contractors claimed the developers hadn’t paid them a total of about $464,000 for work on the development proposal.
Related WestPac spokesman Steve Alldredge said last month that developers will be in contact with vendors to work to resolve the situation as quickly and efficiently as possible. On Wednesday, he said the company could not offer further information but officials would probably be willing to publicly discuss the implications for the proposal in the future at “an appropriate time.”
“Unfortunately, there’s just nothing more to give out at this point,” Alldredge said.
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Last fall, Related WestPac halted construction on three buildings in Snowmass due to an inability to secure financing. Last week, the developer stopped work on the partially built Little Nell Residences Snowmass. On Monday Related WestPac President told the Aspen Times that falling real estate prices are changing the way business is done and said “these are truly extraordinary times.”
Alldredge has said Cattle Creek is a very different proposal separate from the company’s projects in Snowmass.
Developers are still on the Garfield County Planning Commission agenda to discuss the Cattle Creek Colorado proposal at a July 22 meeting.
Contact Pete Fowler: 384-9121
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