Lodge Buyer FAQ

Q: What is the Boomerang Lodge? A: Currently the Boomerang Lodge is a 34 room wholly-owned lodge, located in the “near” West end of Aspen at 500 W. Hopkins, midway between the Music Festival and the downtown core.

Q: What are the Boomerang Lodge Condominiums and who is the Seller/Developer? A: The City of Aspen recently approved a redevelopment of the lodge, whereby there will be 47 lodge rooms, plus 5 unrestricted condominiums. All the units will be sold as whole-ownership condominiums. The Developer is a partnership between Steve Stunda, a local west-end owner, Fountain Square Properties and Alex-Brown Realty, all highly-skilled and knowledgeable developers.

Q: How are the condominiums configured? A: Many of the lodge rooms will have the advantage of joining the adjacent room by the use of interconnecting doors. This will add to the flexibility of rental
opportunity and ownership capability.

Q: How many floors will there be? A: The building will have four floors above grade.

Q: What about parking? A:There will be a fifth level, underground with parking for 31 cars, plus storage and other ancillary components. Access to the garage will be off the alley adjacent to the office and
front lobby.

Q: Will the buildings have elevators? A: Yes, there will be two elevators.

Q: Will the “lodge” remain in operation? A: The lodge will continue to be run as a lodge, enabling short term visitors to rent rooms for nightly stays or longer periods of time.

Q: When will the lodge be redeveloped? A: It is anticipated that the existing lodge will run through the 2006-2007 ski season. Thereafter, the west buildings will be removed to make way for the new construction.

Q: When will the condominiums be finished? A: Completion of the project could be as early as Christmas 2008.

Q: Are there any restrictions on owner usage? A: For the 47 lodge condominium owners, their usage will be limited to 3 months per year, with no one stay lasting longer than 30 consecutive days. For the remaining 9 months these lodge rooms will be made available for short term rentals.

Q: When the owner is away, how will the units be managed? A: The Boomerang Lodge management company will operate the property as a lodge, complete with maid service, front desk, reservation service, shuttle van, and all the amenities that you would expect of a first class Aspen lodge. The lodge condominiums will be carefully maintained and accounted for by the management company.

Q: Are pets allowed? A: No.

Q: What amenities are available to owners and guests? A: The current pool and hot tub will be totally refurbished, with two additional hot tubs added. The large lounge adjoining the front desk leads owners and guests downstairs to a public meeting room and the media center. Upstairs on second floor of the east wing is the breakfast room, named the Paterson Room in honor of original owners, Charlie and Fonda Paterson. A lodge shuttle van will assist visitors and owners, for airport pickup and delivery as well as service to Aspen Mtn for skiing.
Downstairs in the parking garage will be owner storage units, as well as laundry facilities for owners. On third floor, atop the original east wing will be a roof-top deck, great for parties and outdoor gatherings, with great views of Aspen Mountain.

Q: How many top floor units will be available? A: Due to the varied roof heights of the new lodge, many units will be “top floor”: Two luxurious penthouses are located on the fourth floor. Eight rooms on the west wing of the third floor will be top floor. Five units on the second floor of the east wing will be top floor.

Q: What will the interior and exterior finishes be? A: The primary look and feel of the exterior of the new building will be stone and glass, with clean, contemporary lines. The retained “east wing”, reminiscent of Frank Lloyd Wright, will be refurbished and maintained along its original design with all new modern appliances, lights and upgrades.

Q: Will the condominiums be furnished? A: Yes. Buyers will get a choice of two furniture packages.

Q: Could a Buyer customize a condominium during the construction phase? A: Yes, once the Buyer has entered into a “hard” contract, customizing may be possible. During the reservation period no alterations will be contemplated by the Seller.

Q: Is there any financing available from the Seller? A: No; however we do have a list of local lenders, affiliated with the best national lenders, who are familiar with the project.