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Telluride Today! - January 2009
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January 31, 2009
Snow Study
The U.S. Forest Service has granted the Telluride Ski Company permission to conduct a snow study of the Bear Creek Basin commencing February 1st through March 31st. Teleski intends to gather information that would be necessary in a potential future application for development of the area for skiing. The granting of permission to conduct such a study is not an indication of the U.S. Forest Services' inclination to approve such an application.
January 27, 2009
Telluride Airport Gets Money
The Telluride Regional Airport has been awarded $21.5-million in federal grants to improve the existing runway. Improvements will include new lighting, drainage and expanding safety areas on either side of the runway. Most importantly a "dip" in the runway will be "filled-in" and the runway resurfaced. Ski jumps are better situated on ski mountains rather than airport runways.
January 22, 2009
Telluride Airport Economics
The Colorado Department of Transportation completed a 2008 study of the Telluride Airport's economic impact on Telluride and the surrounding area. The study estimated that the Telluride Airport provided $44 million in wages and an overall economic impact of $140,000,000 in 2008. This includes all the money spent by second homeowners and tourists that traveled to Telluride by air. In 1998, the impact was estimated at $74 million -- about doubling in the past ten-years.
January 16, 2009
State Of The Telluride Real Estate Market
Its one of those things that Telluride realtors are reluctant to speak about openly other than to each other. In 2007, $750-million of real estate was sold over 631-transactions at an average price of $1,188,500. In 2008, $339-million of real estate was sold over 338-transactions at an average price of $1,003,000. That works-out to a 55-percent drop in volume and a 15% drop in the average selling price. No way around it, the current economic crisis has impacted Telluride real estate. Has the Telluride market collapsed? No. Is it a good time to buy Telluride real estate? Yes.
January 15, 2009
December Records
Everyone forecast that the holiday season would be dismal given the state of the economy. Pre-holiday bookings were 25-percent below the previous year. Skiers were predicted to be down between 20-25% as well. As the holidays drew near, last minute bookings started to mount. Rather than 25% down, bookings ended-up only 8-percent down. On December 30th, the Telluride Ski Resort had an all time single-day record number of skiers -- 8,156! Record snowfall, a new flight to Montrose Regional Airport from Chicago and the expansion of ski terrain were likely factors as well. The merchants of Telluride are cautiously smiling these days.
January 12, 2009
State Of The Town
Through the first nine months of 2008, sales tax revenues collected by the Town of Telluride were up 6% over the prior year -- then the Telluride economy slumped along with the global economy. The reality has caused some public projects to be delayed and department budgets scrutinized. Two affordable housing projects are going forward as these funds have already been collected and set-aside. Economic uncertainty warrants prudent planning.
January 7, 2009
Affordable Employee Housing
Providing affordable employee housing in the Town of Telluride and Mountain Village is very difficult, but necessary as identified in various surveys and focus groups. The developers of the Capella ultra luxury condos in Mountain Village recently purchased The Back Narrows Inn located in Norwood to house some of its employees. Many in Norwood are displeased that Norwood lodging for visiting tourists has been eliminated. Mountain Village does not have the same rules governing affordable employee housing within a prescribed-distance from the community as does the Town of Telluride. As such, Capella is not legally restrained from the purchase. Better oversight seems warranted on the part of Mountain Village.
January 1, 2009
Porcupine Uprising
Telluride area porcupines have become more aggressive than usual chewing on trees and killing them. They have even chewed on buildings, vehicle tires and shoes. Perhaps the record snowfalls this year and last have made the typical pocupine food sources more difficult to access. To-date, it is estimated that they have caused $100,000 in damages.
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