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Commissioners OK biggest open space purchase in Eagle County history

Preserving Three Meadows Ranch a 'once in a lifetime' deal

The Eagle County Board of Commissioners on Tuesday approved spending $12.5 million in open space funds in a three-way deal to purchase the Three Meadows Ranch near Cottonwood Pass.
EcoFlight/Courtesy photo

The Eagle County Board of Commissioners Tuesday signed off on Eagle County’s biggest open space purchase to date, a $27.7 million, three-way deal to buy the 4,251-acre Three Meadows Ranch on the west side of Cottonwood Pass.

The deal is a partnership between the county, Pitkin County Open Space and Trails and the Aspen Valley Land Trust. Eagle County’s open space fund is putting up the bulk of the purchase price — $12.5 million — with Pitkin County’s open space fund contributing $7.7 million. The Aspen Valley Land Trust is contributing $7.5 million, thanks to a private donor.

Four facts about Three Meadows Ranch
  • Location: Near the west side of Cottonwood Pass in Eagle County
  • Size: 4,251 acres
  • The property includes 33 parcels, a caretaker’s residence and equipment barn.
  • Funding partners include Pitkin County Open Space and Trails — $$7.7 million — and the Aspen Valley Land Trust — $7.5 million

In a presentation to the commissioners, Marcia Gilles, Eagle County’s director of Open Space and Natural Resources, said that during the rapid process of putting the deal together “at least 30” people were working on the project in Eagle and Pitkin counties, as well as the Aspen Valley Land Trust.



Pitkin County Open Space and Trails and the Aspen Valley Land Trust will be the management partners for the property.

Brittany Parker, the county’s conservation project manager, noted there were multiple offers on the property, which had 33 parcels, all of which could be used for building in the Roaring Fork Valley. That drove the urgency of the deal.

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The need to get this done

The ranch had come up for sale in 2018 but had gone to a private buyer. Two owners later, the property came up for sale again, and the opportunity was available to conserve the land.

The original listing price this time was $29 million for the entire ranch. The county’s appraisal was $27.8 million. The final sale price of $27.7 million equates to $6,516 per acre. The urgency of the sale this time was due to the number of offers being received for the property.

In addition to the property, the ranch also includes senior water rights and two reservoirs. That water, and an existing grazing lease, will allow agricultural uses to continue on the ranch.

The property also has a historic stagecoach stop and is home to wildlife winter range and migration routes. The wildlife considerations are important.

Matt Yamashita, an area manager for Colorado Parks and Wildlife, praised the deal, calling it an “awesome project.” Yamashita noted that the elk herd in the area has seen “significant” population declines, adding that state wildlife officials didn’t envision the herd lasting into the future without help.

Preserving the ranch “is a combination of everything we’re looking for,” Yamashita said.

While the ranch has been preserved, Parker said what kind of public access that might be allowed will be evaluated in the coming months and years.

A unique opportunity

For now, though, just preserving the ranch is seen as a “once in a lifetime opportunity,” Parker said. And, given the multiple offers for the property and the urgency of putting the deal together, people in both counties worked through Christmas and over weekends to get the deal done, Parker added

Dale Will of Pitkin County Open Space said he’s been working for that department since the 1990s. In that time, he said he’s had one other opportunity at the scale of Three Meadows.

“Often what we’re doing is chasing much smaller parcels at a much higher cost,” he said. And, while his department doesn’t usually pursue deals outside the county boundaries, Three Meadows presented a unique opportunity, he said.

Will noted that public access isn’t necessarily a driver in this case, adding that the Aspen Valley Land Trust has a “very robust” public education program that includes supervised access that he likened to “managing an art museum.”

“There’s so much thanks to go around,” Commissioner Matt Scherr said, adding that the deal recognizes the “stubbornness of ecosystems,” rather than political boundaries.


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