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The Dillon building department notified representatives of Uptown 240, the stalled condominium project in the town core that filed for bankruptcy earlier this year, that the building permit and, with it their vested rights in the project, expired at the end of April.
But Uptown 240 President Danilo Ottoborgo said in an email Thursday, May 11, that the company expects to successfully come out of the bankruptcy case, continue construction, complete the development and clear all debt and liens on the project.
“We are committed to doing everything the company can to fulfill our purchase agreements and make Uptown 240 a success,” Ottoborgo said. “As we move forward through the reorganization process, timelines become more accurate. The Uptown team would be happy to provide the community updates on our progress and timelines as they become available.”
Yet, Dillon Town Manager Nathan Johnson said at an Economic Development Advisory Committee meeting Wednesday, April 10, Uptown 240 has a long and difficult road to get the project back on track, if it’s even possible.
