Alpiner Lodge in downtown Steamboat closes to re-evaluate future | SteamboatToday.com

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Alpiner Lodge in downtown Steamboat closes to re-evaluate future

— The Alpiner Lodge on Lincoln Avenue in downtown Steamboat Springs is closed for the immediate future.

Chris Paoli, who owns the Alpiner with fellow Colorado Group Realty broker owner Jon Wade, said it was shut down to re-evaluate the options for the 33-room motel that the pair purchased with investors in 2007.

"It just wasn't working," Paoli said.

The Alpiner closed down to get a new roof a couple weeks ago, he said, and it seemed like a good time to take a step back and formulate a new plan.

"Everything is a possibility," Paoli said about the property’s future.

Paoli and Wade purchased the Alpiner for $3.1 million in 2007. It had sold for $2.2 million only 14 months earlier. In October 2002, it sold for $1.54 million.

In 2007, Wade said that he could envision several ways to make the business successful and intended to capitalize on the build up that was expected in the downtown in the following years.

Right now, Paoli said, they don't know what they're going to do with the property. There's no new development plans in the immediate future, he said, and they're considering all their options.

"We're probably going to do something sooner rather than later," Paoli said.

To reach Michael Schrantz, call 970-871-4206, email mschrantz@SteamboatToday.com or follow him on Twitter @MLSchrantz