Breckenridge expected to buy Bailey building for $1.3 million
BRECKENRIDGE – The Breckenridge Town Council is expected to approve an agreement to buy a property at 203 S. Main Street for $1.3 million.
The brown, wooden building, which used to house the Stage Door Cafe and has two condominium units on the west side, is owned by Patricia Bailey, a former Breckenridge resident who now lives in Florida. It sits on the south side of Blue River Plaza.
The closing date is slated for Oct. 27.
Mayor Sam Mamula envisions a transformation of the building from a restaurant and condominiums to an information center, public restrooms and a satellite police station to complement the Riverwalk Center’s amenities.
Currently, the town pays rent for the space at the southwest corner of the Rounds building across the Blue River Plaza.
“We’re going to fix it up so it looks good for the park, make it the anchor for the Riverwalk,” Mamula said. “Instead of paying rent for all those facilities, we feel we’re better off owning it. It will kick off for the next phase of the Riverwalk.”
The property – along with the refurbishing of the Barney Ford house across the street – could also play a vital part in the revitalization of Main Street and the blending of the Riverwalk Center area with the new arts area on Ridge Street.
Portions of the building also could be used for employee housing or office space for nonprofit organizations.
“This is one of the more important purchases we’ve made,” Mamula said. “It’s important to the whole Riverwalk concept. It’s important the town not only invests in backcountry and open space, it’s important we invest in property. It’s important to maintain the lifestyle of the community. I’m really excited about that.”
Other issues the council will discuss in upcoming meetings will include how much it will cost to renovate the building.
Coldwell Banker Bunchman Real Estate will receive a 3 percent commission – $39,000 – for its assistance in the sale.
Jane Stebbins can be reached at (970) 668-3998, ext. 228, or
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