Posted on 05/07/2021 6:45:28 PM PDT by dynachrome
The mountain hamlet of Crested Butte, Colorado, covers less than a square mile and, at an elevation of nearly 9,000 feet, it is taller than it is wide. So when a Chicago-based billionaire began quietly buying up its historic buildings, residents took note.
“I was alarmed that someone would come in and buy up so much commercial property in the community,” former Gunnison County Commissioner Jim Starr told The Daily Beast. “That had not happened before. We've got few owners who own two or three different commercial properties. But the scale of this was larger than what we have seen previously.”
The billionaire in question is investment banker Mark Walter. An intensely media-averse figure, the CEO of Guggenheim Partners has accumulated a net worth of approximately $5.3 billion, according to Forbes, w
(Excerpt) Read more at news.yahoo.com ...
Crested Butte is a high price area with ski-ing.
Has he heard of Kim Basinger?
I suppose it it too much to hope that this could be like when ‘Midas Mulligan bought Ouray, Colorado’.
Sounds like the plot to a Frank Peretti novel.
They won’t have to worry until he starts his own private army.
All these legitimate questions should have been asked and answered before the city officials accepted so much of this man’s money. Some towns have built in limits on how much local property can be under the control of one person, corporation or entity. Just keep on asking in a public manner. The fact that this man has thus far ignored such local concerns up to now looks somewhat ominous and conceited.
Yes a beautiful area and I highly doubt he has good intentions
Colorado Ping ( Let me know if you wish to be added or removed from the list.)
I rode a motorcycle all the way to Crested Butte from Arkansas (and back). It seemed like a good idea at the time. I got altitude sickness at Monarch Pass though. Nice small town. Out of the way place.
My uncle used to have a time-share in Crested Butte.
This is nothing new, it’s been happening since the Gold Rush in Colorado mountain resort towns.
Vegas is horning in on Cripple Creek. Lots of construction in the main street of town. Rumor is Steve Wynn and friends.
—”Has he heard of Kim Basinger?”
...$20 million from Braselton Brothers Inc, intending to turn it into a tourist destination.[10] Five years later, facing personal bankruptcy, she and her partners sold the land for $1 million...
“All these legitimate questions should have been asked and answered before the city officials accepted so much of this man’s money.”
I read the story but didn’t see city officials receiving any money. The article indicated that he paid a fair amount in a consensual business agreement with private owners. Apparently I missed something.
The city officials can’t say bumpkis about private real estate transactions. Who says he can’t buy the whole town if he wants.
Yeah. It's even higher than where we are.
Yes, hmmmm…
Rajneeshpuram
They could very easily have been bought off. But lots of small-town official types are just gaga and star-struck about anyone who is really wealthy—or famous.
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