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Aspen Development Cost Surprises

People might complain about development costs in the Kootenays, but check out these fees for a current project in the City of Aspen…

“But what took my breath away most,” Koste said, were the soft costs and financing costs and fees. “I have never seen a fee category like this. You have won the award,” he told the Aspenites.Building permit fees alone will cost the two developers $9.5 million, he noted. A right-of-way fee will cost them $4 million. And in total, the two developers will be expected to pay just over $28 million in public fees alone for the project.

Chris Bendon, director of community development for the city of Aspen, said the numbers surprised even him.

Source: Task force: Lift 1A design costs too much | AspenTimes.com

For a project that is designed to encourage affordable housing, this seems like something the City should review!

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Mike Thomas

Mike Thomas P.Eng. ENV SP, is the author of UrbanWorkbench.com and Director of Engineering at the City of Revelstoke in the Interior of British Columbia, Canada. If I post something here that you find helpful as you navigate the world of engineering, planning and building communities, that’s wonderful. But when push comes to shove: This is my personal blog. The views expressed on these pages are mine alone and not those of my employer.