The luxury housing market in Aspen is red-hot right now, with wealthy buyers undeterred by rising mortgage rates and even putting offers on homes that aren’t even for sale. Pair that with restrictions on new construction and you have yourself a frenzy of buyers who will do nearly anything to purchase a home in the glitzy mountain town.
For hungry buyers with cash-lined pockets, there are three rare opportunities to own a chic chalet in the heart of the resort town. White Elephant Resorts, which operates luxury hotels in Nantucket and Palm Beach, is moving west. The hospitality group purchased the former Hotel Aspen in Colorado at the end of last year for $37.5 million and will build their first non-East Coast outpost there. The purchase also came with the entitlements to three 5,000-square-foot residences that will soon list pre-construction at $25 million each. Construction on the three new-build homes will start this fall and are set to be completed by late 2024.