Colorado Mountain College nears agreement on Breckenridge housing development
March 2, 2017
At its regular meeting on Wednesday in Rifle, Colorado Mountain College's Board of Trustees directed members of staff to finalize the lease-to-own purchase of a 30-unit housing development located adjacent to the CMC Breckenridge campus.
The Denison Placer 2 project, owned by the town of Breckenridge and approaching completion, would provide 20 studio and 10 one-bedroom rental apartments for students and faculty nearby the local community college. The two parties have been engaged in serious negotiations over the three-building, $5.7 million complex since January, and CMC is looking to complete the deal in the coming weeks.
"We're trying to close this so that the letter of intent can be finalized," said Matt Gianneschi, CMC's COO and chief of staff. "We have every intent of doing that, provided we can come to agreement on the terms."
CMC initially made a formal offer on the housing development, received a counter offer from the town, and will now submit a response to that proposal. The school system plans to have that in the hands of Breckenridge staff on Friday with the hopes of moving toward a conclusion on the transaction.
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