One Steamboat Place is in Foreclosure

November 17th, 2010

One Steamboat Places, the new development right next to the gondola, the place that was going to transform the base area, is now struggling too. I can’t say I’m surprised at the turn of events, there’s been talks for months regarding their debt and lack of sales. But it is a sad turn of events. Like the articles speculates, I’m optimistic things can get worked out before the place goes to auction or worse. But it is more signs that things are not improving as fast as we’d like.

Timing. Many developers will say it all comes down to timing. And One Steamboat Place just missed the timing. Other than that, it’s a great product, in a fantastic location, in a great town with a wonderful ski area right out front. OSP has it all but the timing was just poor.

I sure hope Timbers Resorts and the One Steamboat Place work things out. It’s a great addition to Steamboat and the Steamboat ski area.

Click here to read the local article on One Steamboat Place.

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