Construction continues on $75 million Avon condo project
Site near Beaver Creek roundabout will have 81 condos
AVON — Workers are building retaining walls and removing 70,000 tons of dirt as they construct an 81-condo building on Highway 6 near the Beaver Creek roundabout.
The $75 million project is scheduled to be completed in the summer of 2021.
The development is being built on a portion of a 21-acre property just east of the Ascent known as the Folson parcel. The project is being constructed on the 4.2 acres of the parcel that are actually developable.
The project received approval from Avon’s Planning and Zoning Commission in September.
Work will start on the underground two-story parking garage in about four weeks, said Ranko Mocevic, president and owner of Colorado World Resorts LLC, the Denver-based developer.
The completed project will include one-, two- and three-bedroom condos. The two- and three-bedroom condos will have one-bedroom lockoffs.
Last year, the property was rezoned into Avon’s Short Term Rental Overlay zone district, which will allow short-term rentals there, for the condos and the lockoffs.
The condos’ sale prices will be comparable to nearby developments such as the Riverfront Townhomes and Basecamp on the Creek, Mocevic said.
Four three-bedroom units that remain for sale at Basecamp on the Creek are priced from $1.7 million to $2 million.
Mocevic previously put forward a proposal for a 210-room hotel and condominium project on the land, but the Avon Town Council rejected the plan. The land was later zoned as high density residential, which allowed for the 81 condos.
In terms of area, it’s the county’s smallest conservation deal ever. In terms of location, it’s one of the county’s rarest acquisitions.