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Steamboat Springs, CO
Great job Search and Rescue! They are the unsung heros of our area.
Well done! I love it!
Congrats and Thank you Rex! We will look forward to having another great place to go. Can't wait to see and sample the menu.
2B will work for a broad set of the economy both vacation based and the rapidly increasing location neutral segment of our population that needs air access. Younger people are definitely still interested in owning here in fact it seems like we have seen a moderately strong shift in that direction. They also make up a large portion of the location neutral workers.
As for 2B being a subsidy, it is more of an enabler that is paid for about 50% by tourists and 50% by our community that benefits from the amenities they fund and the jobs they provide.
I don't think these guys have this kind of money and at the same time are clueless enough to pay retail, optimistic retail value at that without even considering it is distressed. $28M is $423 per sq ft, it would be a very good sign for the market if they can sell it for that.
What is likely is that since they own the note they can bid whatever they would like and don't actually have to pay it since it is the equivalent of the bank bidding on their own note at a foreclosure auction. No money changes hands, now they just own the property instead of the note. The side benefit is they put the message out there that they paid this amount for the property thus implying it is worth more which is somewhat cunning. Even at $18m this one was really thin and word is they paid well north of $20M for the note. They sure didn't price in much risk or time value of money. Will be interesting to see this one play out.
Just smoke your brain way Scott, Tom has some thoughtful comments but you "just know" the truth despite the facts
Thank you for a great addition to Steamboat! We will be there with friends this weekend to check it out.
Avoiding the downside of losing more flights is more than worth it and this gives us a credible path forward to regain seats. Nothing is a guarantee in life except this this case we know we would lose further seats if addl funding was not secured.
Well done everyone!
Great News Kevin! We appreciate you stepping up to work on the issues that face us.
Last login: Thursday, October 23, 2014
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