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Basalt, Colorado Real Estate Seeing Growth from New Mixed Use Development

Friday, July 19th, 2013 at 5:36pm Engel & Völkers Aspen • Roaring Fork

A new large-scale, mixed-use development anchored by Whole Foods is drawing attention to the real estate market in Willits - Basalt, Colorado area. This new development is filling up with tenants, and many retail stores are relocating from nearby Aspen and Carbondale to be centrally located in what is becoming the pulse of the mid-valley.

The Basalt developer just announced several new tenants in the development that will be open this month including: Starbucks, Sure Thing Burger, Mauka Frozen Yogurt and Coldwell Banker.

According to Erik Berg, owner of Portfolio Aspen Properties, “Real estate prices are directly affected by the new development. If you are interested in buying or selling in the Willits – Basalt, Colorado area now is the time.”

The development also broke ground on a new mixed-use building that will have retail on the ground floor and the second floor will be leased by Valley View Hospital for doctor offices and clinics. The third floor will be commercial office space.

“We estimate that prices in the mid-valley around the Willits development have increased by approximately 15-20% from their lows,” says Berg. “We contribute this mostly to being close to the new Willits development and Whole Foods.”

Another reason for the increase in price, according to Portfolio, is the lower number of foreclosed properties. Foreclosures are down 41% from 29 to 17 year over year. The inventory has been picked over and demand has increased in the mid-valley as people want to be close to shopping, restaurants and entertainment.

About Portfolio Aspen Properties:
Portfolio Aspen Properties draws from the largest and most comprehensive network of available homes in Aspen and the Roaring Fork Valley to make sure its clients see all of the properties that meet their criteria. Portfolio brokers deals for clients looking to buy Aspen property, sell Aspen property, and invest in Aspen property. The company also provides its clients with a diverse collection of high caliber luxury rental properties in the Aspen area.

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