#Dillon #Colorado
Developers are hoping to restart construction on the Uptown 240 development in Dillon next month.
Construction on the development — an 80-unit “luxury” condominium project on Lake Dillon Drive at the gateway to the Dillon town core — began in June 2019. But for the past 10-plus months, the site has been quiet after construction came to a sudden halt following the arrival of the pandemic to the area in March.
Danilo Ottoborgo, who will serve as the owner and operator of the complex along with family members, said his team is excited to get things moving again.
“The financing group that we designed to take it through the completion of the project faced their own economic impacts from COVID that were too great for them to continue on as a business,” Ottoborgo said. “… We’re in closing mode for our new capital for us to continue going vertical for the project.”
Dillon has been keeping a close eye on the development, in part due to a number of public improvement guarantees owed to the town as part of the development agreement approved in April 2019. As part of the agreement, Uptown 240 developers were required to complete a number of infrastructure projects on Lake Dillon Drive and Buffalo Street, including improvements to roadways, drainage, sidewalks, lighting and more.
Once finished, Uptown 240 will feature 80-residential units, including some deed-restricted units, along with amenities like a fitness room and ground-floor restaurant and retail spaces.
