Dear Fellow Aspen Mountain Residences Owners,
Our Aspen Mountain Residences Condo Association board met this past Thursday in Aspen.
Five of our directors, Joe Ferguson, Michael Perlmutter, Lara Rogers, and Peter Wells were in attendance along with myself for the meeting. Unfortunately, directors Don Harvey and Jamie Champagne were unable to attend.
The meeting took place in the lounge, and several owners were in attendance in addition to board members and management.
A recording of the Zoom meeting is available on the owners’ website as well as via the link at the bottom of this letter.
After calling the meeting to order and welcoming attendees, I began my president’s report, sharing some of the following points:
• First was to provide an update on our bathroom refurbishment project. The board approved last year the program to refurbish all the bathrooms. The overall project is being coordinated by David Hale as Construction Manager with Plan North Group. Last fall, after presentations from our retained designer, Colin Griffith, the board approved design concepts as well as the selection of plumbing fixtures, vanities, designs, lighting, and mirrors.
• One of the first steps in the overall process was to build out bathroom models so that the board and professional management could look, touch, and feel the proposed new bathroom designs.
• I am pleased to report that during our short closure after ski season, we were able to have our team complete three full baths and one powder room in Unit 19. Our team completed the project on time and under budget.
• Your board held a workshop with the design and construction team the day before the board meeting to review the completed bathrooms. The updates included new plumbing fixtures, new vanities with drawers, mirrors, and lighting. At the workshop, Colin, David, and our owner, Lina Mira, reviewed proposed changes resulting from analysis of the completed models.
• Based on these agreed-upon recommendations, we can now begin the competitive bidding process to finalize the game plan for the bathroom refurbishment program, which will take place during a 10-week closure after ski season in April 2027.
• I also shared that during the two-week closure, as well as the quieter period after ski season, we completed several important capital projects that included major plumbing work, balcony repairs, exterior brickwork, and numerous other maintenance projects.
After my report, our General Manager, Claudine Grondin, reported several resort updates including:
• Two new Peloton bikes and updated equipment in our fitness center.
• The purchase of 16 new Trek e-bikes for owner use.
• Summer owner programs, including paddleboarding, yoga, and other activities.
• Claudine also thanked our Director of Engineering, Gary Davis, for all of his efforts in completing the maintenance projects.
Joe Ferguson, our Board Vice President and Chair of our Legal Committee, gave brief updates on our two outstanding lawsuits:
• Joe explained that we are continuing mediation and negotiation efforts in the case where we are suing our former interior design firm, Poss, for failure to perform its contractual obligations while causing significant damages related to our unit refurbishment program two years ago.
• Joe also shared an update on the ongoing lawsuit filed by owner Laurie Aronson against the association regarding her dog’s access to the property. The matter remains unresolved and is currently proceeding through the legal process.
Lara Rogers, our Treasurer, gave a comprehensive financial update. Bottom line: our association is in very solid financial condition and performing within both operating and reserve budgets. For the full report, please review the Zoom recording.
We also had a special presentation by Scott Williams, Regional Vice President for East West, our management company. Scott provided an update on the management services East West delivers to our property and shared that Aspen Mountain Residences is one of the highest-performing properties within his portfolio.
Under new business, I shared several important items:
• First, and most importantly, our association successfully finalized foreclosure proceedings on three units whose assessments had not been paid over time.
• We now own these three units and are making them available to existing owners at a 10% discount to projected market value prior to listing them publicly. Following this letter, you will find a description of each unit, pricing, floor plans, and purchase guidelines.
• One of the attendees at the meeting in Aspen on Thursday has already expressed interest in purchasing one of the units. The attached rules will ensure every owner has an equal opportunity to take advantage of this offering. Proceeds from the sales will be used to fund both operating and reserve accounts.
• Also of great importance, Claudine informed us that over the past year several owners and guests behaved inappropriately. There is no excuse for rude behavior toward staff or other guests, and this conduct will not be tolerated. Written warnings have been issued to the offending owners and guests. We are maintaining records of these incidents and will take further action if violations continue.
• We had a brief discussion regarding Elite Alliance, the program that allows owners to exchange their Aspen time for stays at other resorts throughout the United States and internationally. For owners unfamiliar with Elite Alliance, a webinar is available on the owners’ website.
• Finally, we addressed several questions from owners attending both in person and online.
I’m very proud of the ongoing leadership and governance provided by our board, as well as the commitment and accomplishments of Claudine, her management team, and staff, who continue to make our Aspen resort a very special place.
I wish everyone a wonderful summer.
On behalf of the Board,
Thomas Kaplan
Board President
The Aspen Mountain Residences
Board Members and General Manager Contact Information:
Joe Ferguson – Vice President
Lara Rogers – Treasurer
Peter Wells – Secretary
Don Harvey – Director
Michael Perlmutter – Director
Jami Champagne (HPC Contractually Appointed Member of the Board)
Claudine Grondin – General Manager – cgrondin@eastwest.com
Click the link above to watch the board meeting. Once prompted, enter passcode ?$^f94mH
________________________________________________________________________________
PROCEDURE FOR UNIT SALES OF ASSOCIATION-OWNED FRACTIONAL INTERESTS
The Association currently owns the following fractional interests acquired through foreclosure:
Unit 48, 3-Bedroom, Week 7 – Listing Price: $280,000
Unit 4, 2-Bedroom, Week 31 – Listing Price: $145,000
Unit 44B, 1-Bedroom, Week 33 – Listing Price: $89,000
Before listing these interests for sale to the public, the Board has elected to provide existing Aspen Mountain Residences owners with the opportunity to purchase them at a discount.
Existing Owner Purchase Price
The purchase price available to existing owners shall be 90% of the established listing price:
Unit 48, Week 7: $280,000 (Effective price after 10% discount: $252,000)
Unit 4, Week 31: $145,000 (Effective price after 10% discount: $130,500)
Unit 44B, Week 33: $89,000 (Effective price after 10% discount: $80,100)
Terms
• Close within 45 days
• Non-refundable deposit of 10% of the purchase price due within 48 hours
• No contingencies
Initial Offering Period
An email offering these interests will be distributed to all owners on Wednesday, June 10, 2026.
Any owner wishing to purchase one or more of the interests at the applicable owner purchase price must submit written notice of interest to Claudine Grondin, General Manager, at cgrondin@eastwest.com no later than 5:00 p.m. Mountain Time on Friday, June 19, 2026, at a price not less than the offering price.
Second Round Bidding
If only one owner timely submits an interest notice for a particular fractional interest at the offering price, that owner shall have the right to purchase the interest at the owner purchase price listed above.
If more than one owner timely submits an interest notice for a particular fractional interest at the offering price, those owners will be invited to participate in a final bidding round.
The final bidding round will require each interested owner to submit their highest and best offer within twenty-four (24) hours after notice from the Association.
The minimum bid shall be the established listing price for that interest:
Unit 48, Week 7: $280,000
Unit 4, Week 31: $145,000
Unit 44B, Week 33: $89,000
The highest bid received shall be deemed the winning bid. The successful bidder shall purchase the interest for ninety percent (90%) of the winning bid amount.
In the event of identical highest bids, the Association shall conduct a second identical tie-breaker round.
Public Listing
If no owner submits a timely notice of interest for a particular fractional interest by 5:00 p.m. Mountain Time on Friday, June 19, 2026, the Association will proceed to market and publicly list that interest at the established listing price shown above.
The Board reserves the right to reject any bid, waive minor irregularities in the bidding process, and make any administrative adjustments necessary to implement this procedure.
Floor Plan 48
Floor Plan 4
Floor Plan 44B
© 2026 The Aspen Mountain Residences
415 East Dean Street, Aspen, CO 81611
homeowners@aspenmountainresidences.com