Eagle River Station developer touts construction loans | VailDaily.com

Eagle River Station developer touts construction loans

Sarah Mausolf
Eagle, CO Colorado

EAGLE – Developers of the proposed Eagle River Station sent out a press release Tuesday touting $264 million worth of construction loans they closed on this year.

RED Development, based in Kansas City, Mo., also expects to close on more than $200 million in construction loans in 2010, the release said.

“During a time when everyone was saying you couldn’t get a construction loan and nobody was building anything, RED continued to show the market that if you have a quality project with good planning and execution, you can get the job done,” RED Managing Partner Dan Lowe said in the release. “If and when Eagle River Station is approved by the voters of Eagle, we’ll be able to bring those same credentials to the table to help ensure its success.”

The press release appeared to be at attempt to refute criticism from opponents who say developers will not be able to get loans for Eagle River Station in the aftermath of the recession.

Voters are set to decide Jan. 5 whether Trinity RED Eagle Development can build a shopping center with a Target and hundreds of homes in Eagle.

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Staff Writer Sarah Mausolf can be reached at 970-748-2928 or smausolf@vaildaily.com.

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