Mountain Village, Colorado — In what must be great news for the elites, more luxury hotel rooms and residences are coming to Telluride. However, the hotel company will invest some money in affordable housing.
Last week, it was announced that groundbreaking has commenced on the new Four Seasons Resort & Residences Telluride. The Four Seasons will feature 26 private residences, 43 hotel residences, and 52 hotel keys (a.k.a. hotel rooms). If you’re looking to purchase a residence, it’s probably out of your price range. Prices for the remaining residences start at around $4 million. The amenities will include an indoor pool, outdoor hot tub, spa, fitness center, and ski valet. The property will be situated on 4.4 acres of land in the Mountain Village.
Funding for the $1 billion projects will come from different sources. JP Morgan Chase & Co. loaned the developers $417 million. Additional funding is from CanAm Enterprises. The project is being developed by Merrimac Ventures and Fort Partners.
While this is clearly a project catering to the rich and famous, it will also result in positive community development. As part of this project, the Four Seasons will contribute to affordable housing in the area. According to the Telluride Daily Planet, this will be made possible by a $2.5 million donation to the Town of Mountain Village Housing Fund.
Construction equipment was reportedly on site this past weekend, with full construction work expected to begin in the days ahead. The goal is to complete the project in 2028.
Image/Video Credits: Four Seasons, Town of Mountain Village, Telluride Ski Resort
