For information on this or Telluride real estate, email Buzz Fedorka buzz@fedorka.com
Monday, November 16, 2009
Thursday, November 12, 2009
The Peaks Resort sells to a local group for a reported $20 million
As reported in the Telluride Daily Planet by Matthew BeaudinEditor
Published: Thursday, November 5, 2009 8:44 PM CST
After languishing on the market for more than two years, The Peaks sold on Wednesday to a group of local investors for a reported $20 million — less than half the price of bids in late 2007 and some $80 million less than the hotel was built for in the early ‘90s.
The purchase ends failed deal after failed deal: since hitting the market, Telluride’s largest and best-known hotel has seen many a suitor, none of which saw their engagements to the altar.
And now comes the hard part: Making The Peaks the flagship of a region in need of an economic engine.
“Through the years of corporate ownership, The Peaks has distanced itself from the community,” reads a press release from Todd Herrick, a managing member of Peaks Capital Partners, LLC., which bought the hotel from The Blackstone Group, a New York based private equity firm. “The Peaks was designed to be the cornerstone hospitality property of the area. Our objective is to finally unlock the property’s potential…”
Ted and Todd Herrick, Mike Theile, Bruce MacIntire and Kevin Jones make up the buyers, in addition to John Cullen and Brian Martin, two principals of the hotel’s new management company, Grand Heritage Hotels & Resorts.
Grand Heritage Hotels & Resorts manages other seasonal properties, such as the Stanley Hotel in Estes Park.
“We know that The Peaks needs further work — please be patient,” the release reads.
The company plans to update the lobby, bar and dining room by Christmas, but major renovations will not begin until the spring off-season.
The Peaks will remain open through the ski season.“I see a golden opportunity to help drive more business, not only for The Peaks but for the whole region,” said Brent Truax, who was just named the hotel’s general manager. “There is a lot of work to be done. This property has nowhere to go but up.”
Ascendancy to a lofty hotel will have its price, though the new owners have yet to declare how much money they’ll pipe into The Peaks. Upgrades, Truax said, will include flat-screen TVs in rooms and wet bars, things that are “expected” in upper-echelon hotels.
The Peaks will also get a new continental type restaurant — to be named this winter — and a re-named spa, which recently underwent millions in upgrades under Blackstone.
“I think, immediately, people are going to see service standards changing,” Truax said. “The immediate impact is going to be on the customer service.”
Truax is moving with his 2-year-old daughter and wife to Telluride from the Finger Lakes region of New York. He’s managed properties in Arizona, Vermont and New Hampshire.
According to Telluride Mountain Village Owner’s Association — the entity that collects real estate transfer taxes in the Village — the association will take in a little more than $500,000 in transfer taxes off the sale; that’s no burp for a town that’s had to cut its budgets at every turn.
As of Thursday afternoon, the deed had not been recorded at the San Miguel County Clerk and Recorder’s offices, but TMVOA documents indicate that the taxable “Total Land and Land Improvements and Total Building & Building Improvements” came in at $17.3 million for the sale.
The organization can’t collect transfer taxes on “personal property” that changes hands in transactions, meaning the purchase price could have been for more.
Bob Delves, Mountain Village’s mayor, greeted the news warmly. “I think it’s terrific that it’s in local hands,” Delves said. “From what I know of this group, they intend to return The Peaks to its former glory.”
And that, he said, is certainly possible given the hotel’s setting and stature.
“There’s nothing like it. Its location is incredible; the views are incredible … It just needs some love,” Delves said.
George Harvey, a real estate agent with Telluride Properties, said the sale could mean good things for Telluride.
“I do think it makes a difference it’s local owners. They have the passion as well as the money. And that matters. … It’s personal. It’s like a chain restaurant vs. the owner showing up every day,” he said.
The price may have been just right, too: “They bought it right,” Harvey said. “And a heck of a lot of how hotels work is the price. That gives them a huge leg up, when you have less debt to service. So maybe their timing’s good.”
For more information on this or for real estate in Telluride please contact buzz@fedorka.com
Published: Thursday, November 5, 2009 8:44 PM CST
After languishing on the market for more than two years, The Peaks sold on Wednesday to a group of local investors for a reported $20 million — less than half the price of bids in late 2007 and some $80 million less than the hotel was built for in the early ‘90s.
The purchase ends failed deal after failed deal: since hitting the market, Telluride’s largest and best-known hotel has seen many a suitor, none of which saw their engagements to the altar.
And now comes the hard part: Making The Peaks the flagship of a region in need of an economic engine.
“Through the years of corporate ownership, The Peaks has distanced itself from the community,” reads a press release from Todd Herrick, a managing member of Peaks Capital Partners, LLC., which bought the hotel from The Blackstone Group, a New York based private equity firm. “The Peaks was designed to be the cornerstone hospitality property of the area. Our objective is to finally unlock the property’s potential…”
Ted and Todd Herrick, Mike Theile, Bruce MacIntire and Kevin Jones make up the buyers, in addition to John Cullen and Brian Martin, two principals of the hotel’s new management company, Grand Heritage Hotels & Resorts.
Grand Heritage Hotels & Resorts manages other seasonal properties, such as the Stanley Hotel in Estes Park.
“We know that The Peaks needs further work — please be patient,” the release reads.
The company plans to update the lobby, bar and dining room by Christmas, but major renovations will not begin until the spring off-season.
The Peaks will remain open through the ski season.“I see a golden opportunity to help drive more business, not only for The Peaks but for the whole region,” said Brent Truax, who was just named the hotel’s general manager. “There is a lot of work to be done. This property has nowhere to go but up.”
Ascendancy to a lofty hotel will have its price, though the new owners have yet to declare how much money they’ll pipe into The Peaks. Upgrades, Truax said, will include flat-screen TVs in rooms and wet bars, things that are “expected” in upper-echelon hotels.
The Peaks will also get a new continental type restaurant — to be named this winter — and a re-named spa, which recently underwent millions in upgrades under Blackstone.
“I think, immediately, people are going to see service standards changing,” Truax said. “The immediate impact is going to be on the customer service.”
Truax is moving with his 2-year-old daughter and wife to Telluride from the Finger Lakes region of New York. He’s managed properties in Arizona, Vermont and New Hampshire.
According to Telluride Mountain Village Owner’s Association — the entity that collects real estate transfer taxes in the Village — the association will take in a little more than $500,000 in transfer taxes off the sale; that’s no burp for a town that’s had to cut its budgets at every turn.
As of Thursday afternoon, the deed had not been recorded at the San Miguel County Clerk and Recorder’s offices, but TMVOA documents indicate that the taxable “Total Land and Land Improvements and Total Building & Building Improvements” came in at $17.3 million for the sale.
The organization can’t collect transfer taxes on “personal property” that changes hands in transactions, meaning the purchase price could have been for more.
Bob Delves, Mountain Village’s mayor, greeted the news warmly. “I think it’s terrific that it’s in local hands,” Delves said. “From what I know of this group, they intend to return The Peaks to its former glory.”
And that, he said, is certainly possible given the hotel’s setting and stature.
“There’s nothing like it. Its location is incredible; the views are incredible … It just needs some love,” Delves said.
George Harvey, a real estate agent with Telluride Properties, said the sale could mean good things for Telluride.
“I do think it makes a difference it’s local owners. They have the passion as well as the money. And that matters. … It’s personal. It’s like a chain restaurant vs. the owner showing up every day,” he said.
The price may have been just right, too: “They bought it right,” Harvey said. “And a heck of a lot of how hotels work is the price. That gives them a huge leg up, when you have less debt to service. So maybe their timing’s good.”
For more information on this or for real estate in Telluride please contact buzz@fedorka.com
Wednesday, November 11, 2009
Telluride's Featured Property Listing of the Day
Cimarron Office Space – $750,000
Ski-in/ski-out and riverside, base of Lift 7, Cimarron Lodge ($3.3 million exterior
remodel of complete complex is underway). Truly one of Telluride's best custom offices with slate and antique oak floors, alder distressed custom doors and cabinets, granite and marble countertops throughout office on custom distressed alder built-in work stations (6), wired for complete custom sound and internet for each room, high end Italian lighting all tied in with 200-year-old hand-hewn beams. Foyer/reception area, 2 large executive offices, large production room with 4+ work stations (office can accommodate 6-8 full time employees comfortably, more if necessary). Large handicap-coded bathroom with full tub/shower. Employee break area in back offers full kitchen (sans oven) with custom alder distressed cabinets and granite counter tops, queen-sized murphy bed with storage closets and drawers all with ladder accessible loft and large storage closet wired for servers and stereo components. All lift-side and just 1 block off Colorado Avenue (Main St.) and 3 blocks from the heart of town.
remodel of complete complex is underway). Truly one of Telluride's best custom offices with slate and antique oak floors, alder distressed custom doors and cabinets, granite and marble countertops throughout office on custom distressed alder built-in work stations (6), wired for complete custom sound and internet for each room, high end Italian lighting all tied in with 200-year-old hand-hewn beams. Foyer/reception area, 2 large executive offices, large production room with 4+ work stations (office can accommodate 6-8 full time employees comfortably, more if necessary). Large handicap-coded bathroom with full tub/shower. Employee break area in back offers full kitchen (sans oven) with custom alder distressed cabinets and granite counter tops, queen-sized murphy bed with storage closets and drawers all with ladder accessible loft and large storage closet wired for servers and stereo components. All lift-side and just 1 block off Colorado Avenue (Main St.) and 3 blocks from the heart of town.
Tuesday, November 10, 2009
Alchemy Hospitality Group is named the new operator and manager of the Telluride Conference Center
Alchemy Hospitality Group is named the new operator and manager of the Telluride Conference Center; the town still owns the facility and its assetsThe Town of Mountain Village has signed a five-year contract with Alchemy Hospitality Group (Alchemy) to run the Telluride Conference Center in Mountain Village. For the past 10 years, this responsibility has been that of the town’s. As of November 2, 2009, Alchemy has taken over as the Conference Center’s exclusive manager and operator and is responsible for most of the facility’s associated costs while the town remains the owner of the facility and its assets. The agreement between the two parties will result in a reduced town subsidy and a higher level of future cost controls.
The Conference Center, with 16,000-square-feet of rentable space, has historically experienced financial losses due to fixed operating costs that were not covered by sufficient revenues. If the town were to continue to operate the Conference Center in the coming years, the subsidy is projected at $470,000 for 2010 and escalating to as much as $500,000 for 2011. With this new agreement, the town will realize significant savings now and into the future. “We hope for a much smaller subsidy over the next five years,” said Sparks. “The more events Alchemy books, the closer the town’s subsidy gets to zero.”
Under the agreement, Alchemy will keep 100% of all gross revenue derived from its operations of the Conference Center but is obligated to pay the town up to a maximum of 5% from revenues. The town will continue to pay all Franz Klammer HOA dues and any major capital repairs and replacements. Further, all utilities will be paid by the town through December 31, 2011, when Alchemy will take over those responsibilities.
According to Spark’s, the town’s long-term goal for the Conference Center is threefold: for it to be an intricate part of the town's economic engine; to drive conference and group sales to Mountain Village; and to help the community become a sought after tourist destination. Sparks added that a vital part of the community includes its nonprofit organizations, many of which have utilized the Conference Center over the years for events. Under the agreement with the town, Alchemy will honor all contracts currently on the books and with current Conference Center pricing as quoted by the Center’s staff. For any new bookings, Alchemy is entitled to set its own pricing and fee schedules for usage of the Conference Center with a separate fee schedule for nonprofit organizations.
Major Selling Point:
Tthe ability to flex staff Over the past 10 years the town has managed the Conference Center, it has employed full-time staff members and additional part-time and on-call staff members as-needed. Established in 2003, Alchemy’s principal owners are Jake Linzinmeir and Tony Kalyk, no strangers to the Telluride region. Linzinmeir and Kalyk run The Bluepoint Grill & Noir Bar, The Excelsior Café and Chair 8/X Café. With locally established businesses, Alchemy is able to save money and time by flexing staffing levels and multitasking its labor dollars as they relate to the facility’s bookings – a major selling point for the town. As for Conference Center employees, Alchemy has been encouraged, but not obligated, to offer full and part-time staff members positions within its company.
In addition to Linzinmeir and Kalyk, the Alchemy Hospitality Group’s Conference Center Team includes other principals of companies who have experience in the ski resort market and in the hospitality, restaurant, group marketing and conference related fields. Those team members include Jeffrey Zogg and Doug Leiber of Azul Group and Meehan Fee, owner of Alpenglow Event Management.
Checks & Balances:
Since the town will continue to invest in the Conference Center, a Telluride Conference Center Oversight Board will be formed. Alchemy is required to meet with this board a minimum of twice a year. The board will be comprised of the mayor, a town councilmember, the town manager and a representative from both Marketing Telluride Inc. (MTI) and the Telluride Mountain Village Owners Association. In addition, Alchemy is required to provide the Mountain Village Town Council with information regarding the Conference Center’s usage, total gross revenues per event, number of attendees, and the following year’s calendar of events and revenue projections. Alchemy also is responsible for the development and delivery of a customer satisfaction survey to all groups utilizing the Conference Center with the survey results presented to the town on a quarterly basis. If Alchemy meets these and other town requirements, it will have the option of extending its contract with the town for two additional five-year terms.
To meet specific town marketing requirements, Alchemy is responsible for maintaining the Conference Center brand while working with MTI and Telluride Ski & Golf on marketing the facility. Moreover, MTI will continue to act as the primary group booking agent for the Conference Center with Alchemy directing all group bookings through them. In turn, Mountain Village will, as budget amounts provide, continue to make an annual contribution to MTI for group sales marketing.
For further Telluride Conference Center inquiries or to book an event, contact Alchemy’s General Manager Meehan Fee at meehan@tellurideconference.com, (970) 369-4760 or (970) 369-6400.
For other Telluride area information or real estate inquiries, contact Buzz Fedorka at buzz@fedorka.com.
The Conference Center, with 16,000-square-feet of rentable space, has historically experienced financial losses due to fixed operating costs that were not covered by sufficient revenues. If the town were to continue to operate the Conference Center in the coming years, the subsidy is projected at $470,000 for 2010 and escalating to as much as $500,000 for 2011. With this new agreement, the town will realize significant savings now and into the future. “We hope for a much smaller subsidy over the next five years,” said Sparks. “The more events Alchemy books, the closer the town’s subsidy gets to zero.”
Under the agreement, Alchemy will keep 100% of all gross revenue derived from its operations of the Conference Center but is obligated to pay the town up to a maximum of 5% from revenues. The town will continue to pay all Franz Klammer HOA dues and any major capital repairs and replacements. Further, all utilities will be paid by the town through December 31, 2011, when Alchemy will take over those responsibilities.
According to Spark’s, the town’s long-term goal for the Conference Center is threefold: for it to be an intricate part of the town's economic engine; to drive conference and group sales to Mountain Village; and to help the community become a sought after tourist destination. Sparks added that a vital part of the community includes its nonprofit organizations, many of which have utilized the Conference Center over the years for events. Under the agreement with the town, Alchemy will honor all contracts currently on the books and with current Conference Center pricing as quoted by the Center’s staff. For any new bookings, Alchemy is entitled to set its own pricing and fee schedules for usage of the Conference Center with a separate fee schedule for nonprofit organizations.
Major Selling Point:
Tthe ability to flex staff Over the past 10 years the town has managed the Conference Center, it has employed full-time staff members and additional part-time and on-call staff members as-needed. Established in 2003, Alchemy’s principal owners are Jake Linzinmeir and Tony Kalyk, no strangers to the Telluride region. Linzinmeir and Kalyk run The Bluepoint Grill & Noir Bar, The Excelsior Café and Chair 8/X Café. With locally established businesses, Alchemy is able to save money and time by flexing staffing levels and multitasking its labor dollars as they relate to the facility’s bookings – a major selling point for the town. As for Conference Center employees, Alchemy has been encouraged, but not obligated, to offer full and part-time staff members positions within its company.
In addition to Linzinmeir and Kalyk, the Alchemy Hospitality Group’s Conference Center Team includes other principals of companies who have experience in the ski resort market and in the hospitality, restaurant, group marketing and conference related fields. Those team members include Jeffrey Zogg and Doug Leiber of Azul Group and Meehan Fee, owner of Alpenglow Event Management.
Checks & Balances:
Since the town will continue to invest in the Conference Center, a Telluride Conference Center Oversight Board will be formed. Alchemy is required to meet with this board a minimum of twice a year. The board will be comprised of the mayor, a town councilmember, the town manager and a representative from both Marketing Telluride Inc. (MTI) and the Telluride Mountain Village Owners Association. In addition, Alchemy is required to provide the Mountain Village Town Council with information regarding the Conference Center’s usage, total gross revenues per event, number of attendees, and the following year’s calendar of events and revenue projections. Alchemy also is responsible for the development and delivery of a customer satisfaction survey to all groups utilizing the Conference Center with the survey results presented to the town on a quarterly basis. If Alchemy meets these and other town requirements, it will have the option of extending its contract with the town for two additional five-year terms.
To meet specific town marketing requirements, Alchemy is responsible for maintaining the Conference Center brand while working with MTI and Telluride Ski & Golf on marketing the facility. Moreover, MTI will continue to act as the primary group booking agent for the Conference Center with Alchemy directing all group bookings through them. In turn, Mountain Village will, as budget amounts provide, continue to make an annual contribution to MTI for group sales marketing.
For further Telluride Conference Center inquiries or to book an event, contact Alchemy’s General Manager Meehan Fee at meehan@tellurideconference.com, (970) 369-4760 or (970) 369-6400.
For other Telluride area information or real estate inquiries, contact Buzz Fedorka at buzz@fedorka.com.
Thursday, November 5, 2009
Snowboard World Cup in Telluride
Telluride Tourism Board press release regarding the Snowboard World Cup in Telluride:
Date: 17th Dec 2009 - 20th Dec 2009
Telluride will be the home of international snowboarding competition in the U.S. as the 2010 Visa U.S. Snowboardcross Cup hits the Rocky Mountains. Telluride is the sole U.S. stop of the LG FIS Snowboard World Cup and will feature an SBX and PGS competition during what will be the second in a series of five Olympic qualification events for the two sports.
The Visa U.S. Snowboardcross Cup Schedule:
Thursday, December 17 - PGS qualifications and finals
Friday, December 18 - SBX qualifications
Saturday, December 19 - SBX finals
Sunday, December 20 - Team SBX
NBC, the Olympic network, will broadcast the Visa U.S. Snowboardcross Cup Dec. 26 at 2 p.m. and the cable station Versus will broadcast the event's SBX competition Jan. 3, 2010 at 5 p.m. and the PGS competition Jan. 10, 2010 at 4 p.m.
Competitors
The heat will be on in the snowboardcross as heats of four athletes race through rollers, jumps and bank turns in an attempt to be the last man standing. The pressure will be on the U.S. Snowboarding's men's SBX roster as Olympic champion Seth Wescott (Sugarloaf, ME), five-time X Games gold medalist Nate Holland (Squaw Valley, CA), World Championship bronze medalist Nick Baumgartner (Iron River, MI),World Cup winner Graham Watanabe (Sun Valley, ID), World Cup podium performer Jonathan Cheever (Saugus, MA) Olympic halfpipe gold medalist Ross Powers (Londonderry, VT), snowboarding legend Shaun Palmer (South Lake Tahoe, CA) and the rest of the domestic riders battle it out to solidify their spot in the up to four spots open on the men's Olympic team.
Olympic silver medalist Lindsey Jacobellis (Stratton Mountain, VT) will also be on hand looking to dominate the women's field. Parallel giant slalom athletes will also be in the hunt for their Olympic team nominations. Michelle Gorgone (Boston), who took to the podium of two World Cups last season, will be aiming to take the stand again in the U.S.
On the men's side Tyler Jewell (Steamboat Springs, CO) will be back in the race after an injury kept him from competition last season. Joining him will be Adam Smith (Bend, OR) who finished second in a World Cup last season.
Capping things off in Telluride will be a team SBX exhibition competition. Team SBX pairs two riders from the same country on a team. One races the course against three to five other competitors, and when that competitor crosses the finish line, the gate at the start triggers for the next teammate to begin racing.
Please contact buzz@fedorka.com for further information on the Snowboard World Cup or for any real estate needs.
Date: 17th Dec 2009 - 20th Dec 2009
Telluride will be the home of international snowboarding competition in the U.S. as the 2010 Visa U.S. Snowboardcross Cup hits the Rocky Mountains. Telluride is the sole U.S. stop of the LG FIS Snowboard World Cup and will feature an SBX and PGS competition during what will be the second in a series of five Olympic qualification events for the two sports.
The Visa U.S. Snowboardcross Cup Schedule:
Thursday, December 17 - PGS qualifications and finals
Friday, December 18 - SBX qualifications
Saturday, December 19 - SBX finals
Sunday, December 20 - Team SBX
NBC, the Olympic network, will broadcast the Visa U.S. Snowboardcross Cup Dec. 26 at 2 p.m. and the cable station Versus will broadcast the event's SBX competition Jan. 3, 2010 at 5 p.m. and the PGS competition Jan. 10, 2010 at 4 p.m.
Competitors
The heat will be on in the snowboardcross as heats of four athletes race through rollers, jumps and bank turns in an attempt to be the last man standing. The pressure will be on the U.S. Snowboarding's men's SBX roster as Olympic champion Seth Wescott (Sugarloaf, ME), five-time X Games gold medalist Nate Holland (Squaw Valley, CA), World Championship bronze medalist Nick Baumgartner (Iron River, MI),World Cup winner Graham Watanabe (Sun Valley, ID), World Cup podium performer Jonathan Cheever (Saugus, MA) Olympic halfpipe gold medalist Ross Powers (Londonderry, VT), snowboarding legend Shaun Palmer (South Lake Tahoe, CA) and the rest of the domestic riders battle it out to solidify their spot in the up to four spots open on the men's Olympic team.
Olympic silver medalist Lindsey Jacobellis (Stratton Mountain, VT) will also be on hand looking to dominate the women's field. Parallel giant slalom athletes will also be in the hunt for their Olympic team nominations. Michelle Gorgone (Boston), who took to the podium of two World Cups last season, will be aiming to take the stand again in the U.S.
On the men's side Tyler Jewell (Steamboat Springs, CO) will be back in the race after an injury kept him from competition last season. Joining him will be Adam Smith (Bend, OR) who finished second in a World Cup last season.
Capping things off in Telluride will be a team SBX exhibition competition. Team SBX pairs two riders from the same country on a team. One races the course against three to five other competitors, and when that competitor crosses the finish line, the gate at the start triggers for the next teammate to begin racing.
Please contact buzz@fedorka.com for further information on the Snowboard World Cup or for any real estate needs.
Tuesday, November 3, 2009
Telluride's Featured Condo Listing of the Day
Mountain Lodge Unit 4113 - $300,000
1-bedroom, 1-bath condo in the ski-in/ski-out Mountain Lodge complex, just a short stroll to all resort amenities. The Lodge is full-service, complete with linen service, concierge, bell staff, shuttle service and on-site property management.
Please email buzz@fedorka.com for more information on Mountain Lodge #4113 or any of your Telluride real estate needs.
Monday, November 2, 2009
New snow, new improved Telluride airport runway
We have a foot or so of new snow, so winter is underway. It will be great to see the airport with its new improved runway open next week, see below.
(Photo by Brett Schreckengost)
TELLURIDE — After peak crews of up to 85 workers spent seven months rearranging more than 1 million cubic yards of dirt at the Telluride Regional Airport, runway safety improvements have been completed and TEX is scheduled for an on-time reopening next Wednesday, Nov. 4. “It was a good project, it went well,” said Airport Manager Rich Nuttall. “In another week or so we’ll be open for business.”The second of a four-phase project that will eventually increase the airport’s safety rating and enable it to accommodate the 66-to 78-seat Q400 turboprop aircraft, the project lowered the runway by 30 feet at its west end and by 14 feet at its east end.The excavated material was used to backfill a 16-foot dip at the runway’s center that gave it the concave curve of a banana and helped earn TEX its reputation as one of the most challenging mountain airports in the nation.Crews also paved the formerly dirt shoulders alongside the runway, began widening the adjacent safety areas, and set in place an 800-foot long steel tunnel that should be completed between now and 2012, according to Nuttall.The tunnel is wide enough to accommodate a semi-trailer truck and will eventually allow drivers to pass underneath the runway to access hangars planned for its south side.“We used to be known for the dip, now we’re going to be know for the tunnel,” he said
Contact me, Buzz Fedorka, for updates on this or Telluride real estate at buzz@fedorka.com.
TELLURIDE — After peak crews of up to 85 workers spent seven months rearranging more than 1 million cubic yards of dirt at the Telluride Regional Airport, runway safety improvements have been completed and TEX is scheduled for an on-time reopening next Wednesday, Nov. 4. “It was a good project, it went well,” said Airport Manager Rich Nuttall. “In another week or so we’ll be open for business.”The second of a four-phase project that will eventually increase the airport’s safety rating and enable it to accommodate the 66-to 78-seat Q400 turboprop aircraft, the project lowered the runway by 30 feet at its west end and by 14 feet at its east end.The excavated material was used to backfill a 16-foot dip at the runway’s center that gave it the concave curve of a banana and helped earn TEX its reputation as one of the most challenging mountain airports in the nation.Crews also paved the formerly dirt shoulders alongside the runway, began widening the adjacent safety areas, and set in place an 800-foot long steel tunnel that should be completed between now and 2012, according to Nuttall.The tunnel is wide enough to accommodate a semi-trailer truck and will eventually allow drivers to pass underneath the runway to access hangars planned for its south side.“We used to be known for the dip, now we’re going to be know for the tunnel,” he said
Contact me, Buzz Fedorka, for updates on this or Telluride real estate at buzz@fedorka.com.
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