The Residences at The Little Nell Opens Today

February 6, 2009

The Residences at The Little Nell located at the base of Aspen Mountain opens today, making it the most luxurious, shared ownership project of its kind.

ASPEN, Colo., Feb. 6 / -- The Residences at The Little Nell (RLN) officially opens today, making it the most luxurious, shared ownership project of its kind. More than $80 million in sales have closed on this 26- residence property located at the base of Aspen Mountain, with significant sales continuing throughout February.

"Our buyers and their brokers had very high expectations for the quality, amenities and service of The Residences when they first considered the property," said Brooke Peterson, executive committee member of The Residences of The Little Nell Development. "Having had many of those same people walk through our doors, it's nice to be able to say we've exceeded their expectations."

The Residences will be exclusively managed and operated by The Little Nell Hotel, Aspen's only Mobil Five-Star and AAA Five-Diamond recognized hotel and member of Relais & Chateaux. Among the amenities residents will enjoy include:

    -- Direct ski-in/ski-out access to Aspen Mountain
    -- Health center and rooftop pool
    -- Valet parking
    -- Slope-side ski lockers and personal storage
    -- 24-hour services including maid, concierge (pre-arrival also available)
       and  in-residence dining
    -- 24-hour car service and/or vehicles available for residents' exclusive
       use

"This project combines five-star service with a modern design that complements the area's architectural heritage and takes advantage of the property's unique, picturesque setting," Peterson said. "Everything about The Residences was done with care and a precision worthy of its location and preeminence among luxury properties."

The Residences has 208 fractional ownership interests of which 200 were placed under hard contract prior to today's opening. Those sales represent an unprecedented 96 percent sold when most properties open with 40 to 45 percent of units under contract. Of the 26 residences, there are 19 three-bedrooms averaging 2,800 sq. ft. and seven four-bedrooms averaging 3,800 sq. feet. Eight fractions in the three-bedroom category remain for sale. Floor plans are unique and include custom furnishings. Residences will be offered to the public for short-term rentals, and the RLN also has eight hotel suites on site that are available for short-term rental.

"With its dramatic architecture, stunning interiors and grand living spaces, The Residences at The Little Nell is truly one-of-a-kind," Peterson said. "We're looking forward to welcoming each of our residents beginning this season."

About The Residences at the Little Nell

The Residences at The Little Nell consist of 26 residences, including 19 three bedrooms and seven four bedrooms. It is exclusively managed and operated by The Little Nell, Aspen's only Mobile Five-Star and AAA Five-Diamond recognized hotel. Amenities include direct ski-in/ski-out access to Aspen Mountain, in-residence dining, personal storage, a health center, a rooftop pool, valet parking, slope-side ski lockers and 24-hour services including maid, car and concierge (pre-arrival services also available). Vehicles and 24-hour car service also are available for use by residents.