Latest News on Luxury Homes/Houses, Family Ski Resort in Denver, Colorado

READ ALL ABOUT US

The Town of Keystone Begins

https://keystone.colorado.gov/

The Town of Keystone became Colorado's newest Town on February 8, 2024.

The residents voted to incorporate the Town of Keystone on 28 March 2023 and the home rule charter was approved on 26 September 2023. It is an exciting and challenging time. The Keystone Community for the first time has an opportunity to chart its own course and address the issues that the Community has faced for years.

The primary objectives of the Town of Keystone Home Rule Charter are:

To create a lasting, non-restrictive charter allowing the Town of Keystone government the most autonomy and power of self-governance allowable by the Colorado Constitution.
To allow for a robust system of local governance, driven by elected representatives and community input, to ensure decisions are made collectively and reflect the perspectives and aspirations of the entire community.
Provide a framework that allows for open communication channels, ensuring all community members have a process for their voice to be heard, access to comprehensive information about municipal affairs, policies and decisions that is attentive to the specific needs of this unique mountain community.

The first Mayor and Town Council were elected on January 30, 2024. They are:

Ken Riley - Mayor
Dan Sullivan - Mayor Pro Tem
Gretchen Davis - Councilmember
Sarah Keel - Councilmember
Carol Kerr - Councilmember
Aaron Parmet - Councilmember
Valerie Thisted - Councilmember

The work of forming the town to serve the approximately 1300 full-time residents, 2200 second homeowners and thousands of vacationers has begun. Volunteers have put in hundreds of hours supporting Town start up.

The first two town employees, the Interim Town Manager and Town Clerk started work on February 8th, others will come on board shortly.
The Town is in the Keystone Center and is open for business--come on by.
We expect the Permanent Town Manager to be hired and be in place in April.
Since the Town Charter Election, Volunteers and all the Mayor and Town Council candidates have worked:
- With Summit County and other agencies to put the agreements in place for the town to function
- To Ensure the Town Hall and basic infrastructure is in place to allow the town to begin functioning on February 8th
- To begin the hiring process with position descriptions, job announcements, interview candidates, develop proposed benefits packages, and draft Human Resources policies.

Most of the town services will initially be provided by Summit County with the first area, Planning and Zoning, passed to the town in late Spring and others over the next three to nine months. The Goal is that as services transition, there will be no impact to Keystone citizens, owners, renters, businesses, and workers.

The website (https://keystone.colorado.gov) will be a hub for information on our new Town. We will have regular updates on how the transition is going. It will be updated with new information as that information becomes available. We will also post all agendas, meeting packages, and minutes of the Town Council Meetings on the website as well as how you can attend a meeting virtually to see for yourself what the town is doing and provide your thoughts and comments during our public comment sessions.

Please be patient--It won't be easy, there will be hiccups along the way, but we are building a team:

One Team focused on the Keystone Community: The citizens, second homeowners, renters, businesses, and workforce.

A peek inside Kindred Resort, Keystone’s $300M residential and commercial project

Expected to be completed in 2025, the site will be home to luxury condos, a hotel, public plaza, ski shop and more

Sep 29, 2023

The view from the fifth floor of what will be a for-sale condominium in the west tower of Kindred Resort in Keystone, pictured Monday, Sept. 25, 2023.

Robert Tann/Summit Daily News | Sep 29, 2023

In Keystone’s River Run Village, hundreds of workers toil under towering cranes on a 320,000-square-foot development that project leaders hope will be the ski area’s new centerpiece.

Kindred Resort, a more than $300-million-dollar project set to open in 2025, will house 95 luxury condominiums, a 107-room hotel, restaurants, ski school, event space and more, all steps away from the River Run Gondola.

“We’ve all been excited for a project like this to come along,” said Shervin Rashidi, a co-founder of the development team. “Keystone hasn’t really had a true base center.”

When completed, the resort will consist of three, 52-foot-tall towers, making it an area landmark on a site that has been undeveloped for 50 years. The third company to attempt such a project, Kindred Resort has been a vision nearly 10 years in the making, Rashidi said.

“Everything’s been kind of scattered for the guest experience,” he said. “With this, we’re going to elevate that experience, centralize it.”

With an endorsement from Vail Resorts, which is set to operate the planned hotel under its hospitality wing, Rashidi said the project has remained on budget and on schedule. While inflation and supply chain issues since the COVID-19 pandemic have provided challenges, Rashidi said the development has been able to avoid some of the pitfalls of other projects.

“We did a good job with OZ Architecture when it comes to overall design. A lot of our walls and steel structure and so forth are pre-manufactured and then brought in,” Rashidi said. “So that’s helped us avoid a lot of those bigger supply-side issues.”

Cranes tower above the ongoing construction at Kindred Resort in Keystone on Monday,

Robert Tann/Summit Daily News | Sept. 25, 2023.

Kindred Resort is expected to open in phases, with its west tower condominiums and central tower hotel possibly opening within the first three months of 2025. Following that will be the east tower, which will house the resort’s highest-end units.

To date, nearly 70% of the planned residential units have been sold, Rashidi said, all ranging in price and size. A summer and fall release of seven homes included one- to four-bedroom units priced at $1.4 million to $4.5 million, respectively.

According to Marketing Director Amy Kemp, 77% of buyers are out-of-state, with some international. Just under a quarter are Colorado residents.

Stay up-to-date on all things Summit County. Get the top stories in your inbox every morning. Sign up here: SummitDaily.com/newsletter

While much of the building will be occupied for private use, developers said they made public, communal space a high priority for the project. Kindred’s centerpiece, a sprawling plaza between two of its three towers, will serve as a public courtyard where residents and visitors alike can enjoy outdoor restaurant seating, fire pits and lawn games — with Keystone’s mountainside serving as the backdrop.

“We keep calling it the living room of Keystone,” Kemp said.

Other publicly-accessible areas include a ground-floor ski school and rental shop as well as a spa on the east side. The resort’s various spaces, both residential and business, are divided between the three towers and connected by an underlying base. Project leaders said this helps to reduce any obstruction of surrounding views and provide more open space.

“We didn’t want to have this huge, heavy mass. We wanted it to fit into its environment,” said project co-founder Ryan Geller.

Construction at Kindred Resort in Keystone is pictured on Monday, Sept. 25, 2023. The development, projected to open in phases beginning in 2025, will be home to residences, a hotel, public square and more.

Robert Tann/Summit Daily News

As part of Summit County’s building requirements, the project will also include off-site employee housing in Keystone, which is expected to provide roughly 50 beds.

Geller said he is optimistic the development will remain on track with hundreds of workers on site each day. Now on the cusp of realizing a vision nearly a decade in the making, project leaders said they believe Kindred Resort will serve as a landmark even beyond Summit County.

“We wanted something that was iconic for not just Keystone, but the entire ski industry,” Geller said.

Keystone Resort's Hunki Dori parking lot sold to developers with big designs

FIRST PRINTED IN THE SUMMITDAILY.COM

News | February 11, 2019

By Eli Pace

This rendering from the developer's website shows concepts for a planned development that could transform the base of Keystone Resort. Vail Resorts, the owner of Keystone Resort, announced on Monday that it has closed on a deal to sell four acres at the base of Keystone Resort to a development teams that hopes to build a new hotel, about 95 condos and commercial space there.

One River Run Acquisition LLC

Vail Resorts has closed on a deal that could land a new hotel, about 95 residential condominiums and more than 12,000 square feet of commercial space where a parking lot currently sits at the base of Keystone Resort.

Vail Resorts, which operates Keystone Resort, announced on Monday that it has agreed to sell of four acres at the base of the River Run Gondola to One River Run Acquisition LLC, a Colorado-based development team. A diagram on the developer's website confirms the sale encompasses the Hunki Dori parking lot.

The One River Run project, as it's been coined, has been envisioned as part of the Keystone Planned Unit Development for more than two decades now and represents "a critical piece" of Keystone's base, according to a news release from Vail Resorts. In it, the company says the planned development at Hunki Dori will help make Keystone "an iconic North American mountain resort."

A resort spokeswoman declined the newspaper's request for details of the sale.

However, the release says the developer is proposing a full-service, 107-room RockResorts-branded hotel. RockResorts is a subsidiary of Vail Resorts and already manages various properties in Summit County and beyond.

The new hotel would come with a spa, restaurant and banquet space. Other pieces of the planned project call for approximately 95 condos and more than 12,000 square-feet of commercial space, including some restaurant and retail space that's supposed to be operated by third parties.

"As a member of the Keystone community for more than 25 years and owner of multiple area businesses, I am extremely proud to be a part of the team that will develop a premier base area project at Keystone," he added.

One River Run Acquisition LLC is comprised of a group of Colorado developers with experience in commercial, multi-family, mixed-use, residential, medical and hospitality developments, in addition to building, managing and operating more than 200 Yum! Brands properties, which include Taco Bell, KFC and Pizza Hut.

The development team also has deep ties in Summit County and Keystone with ownership of Base Camp Wine & Spirits, Sauce on the Blue, the Inxpot, and Sauce on the Maggie. Along with Rashidi, the developer's website lists Ryan and Jeff Geller and Scott Russell as the other members of the team.

"This sale to a Colorado-based third party provides a tremendous opportunity to add a vibrant mix of lodging, retail and services to a prime parcel of land at Keystone Resort and a prominent gateway just steps away from the mountain," said James O'Donnell, executive vice president of hospitality, retail and real estate at Vail Resorts.

The project will have to go thought the county planning process.

"We're working with the developer as we're going through the review process," said Don Reimer, Summit County's planning director. "We anticipate it going to public hearings sometime this spring, but we don't have an exact date yet."

Keystone is one of the closest ski resorts to Denver and the Front Range and boats having more than 3,000 acres of skiable terrain with an average of 300 days of sunshine a year.

VAIL RESORTS ANNOUNCES SALE OF FUTURE RIVER RUN BASE AREA DEVELOPMENT

PROJECT WILL FURTHER DEFINE KEYSTONE AS AN ICONIC NORTH AMERICAN MOUNTAIN RESORT DESTINATION

SITE FIRST APPEARED IN VRDC.VAILRESORTS.COM

KEYSTONE, Colo. – Feb. 11, 2019 –Vail Resorts announced today that the sale of a parcel of land at the base of the River Run Gondola in Keystone to Colorado-based One River Run Acquisition, LLC (ORRA) has closed.

The One River Run project has been envisioned as part of the Keystone Planned Unit Development (PUD) for more than two decades. It represents a critical piece of the Keystone base area and will further define Keystone as an iconic North American mountain resort.

"We look forward to collaborating with the Keystone community throughout the development process to significantly enhance the tremendous destination that Keystone represents and create added value and enjoyment for locals and destination guests," said ORRA partner, Shervin "Shevy" Rashidi. "As a member of the Keystone community for more than 25 years and owner of multiple area businesses, I am extremely proud to be a part of the team that will develop a premier base area project at Keystone."

On the four-acre site located adjacent to the River Run Gondola terminal, the developer is proposing a full-service 107-room RockResorts-branded hotel, spa, restaurant, and banquet space to be managed by Vail Resorts' hospitality division, approximately 95 residential condominiums, and more than 12,000 square-feet of commercial space, including third-party-operated restaurant and retail space.

One River Run Acquisition, LLC (ORRA) is made up of a group of seasoned Colorado developers. The organization's development experience includes commercial, multi-family, mixed-use, residential, medical facilities, hospitality development and building, managing and operating more than 200 Yum! Brands properties. In addition, the group has deep ties to Summit County and Keystone including ownership of Base Camp Wine & Spirits, Sauce on the Blue, the Inxpot, and Sauce on the Maggie.

Keystone Resort features more than 3,000 acres of skiable terrain, an average of 300 days of sunshine a year, convenient lodging and a variety of on- and off-snow activities, making it the ideal location for winter and summer vacations. As one of the closest ski resorts to Denver, Keystone is the ultimate family resort destination. Convenient touches like front-row family parking and complimentary red wagons to help parents tote gear and kiddos to and from the slopes help make a family visit to Keystone easy and hassle-free.

About Vail Resorts, Inc. (NYSE: MTN)

Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts' subsidiaries operate 15 world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge, Keystone and Crested Butte in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher in Australia; Stowe and Okemo in Vermont; Mt. Sunapee in New Hampshire; Stevens Pass in Washington; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

About One River Run Acquisition, LLC

One River Run Acquisition, LLC is part of a conglomerate Colorado-based development company that has been involved with projects from Denver to Aspen for the past 28 years. Current and past projects include commercial, multi-family, mixed-use, residential, medical and hospitality development. For more information on One River Run visit www.orrkeystone.com or contact Jens Werner at jens@recommglobal.com or (970) 845-8525.

January 09, 2017