Vail Resorts announced today that the sale of a parcel of land at the base of the River Run Gondola in Keystone to Colorado-based One River Run Acquisition, LLC (ORRA) has closed.
The One River Run project has been envisioned as part of the Keystone Planned Unit Development (PUD) for more than two decades. It represents a critical piece of the Keystone base area and will further define Keystone as an iconic North American mountain resort.
“We look forward to collaborating with the Keystone community throughout the development process to significantly enhance the tremendous destination that Keystone represents and create added value and enjoyment for locals and destination guests,” said ORRA partner, Shervin “Shevy” Rashidi. “As a member of the Keystone community for more than 25 years and owner of multiple area businesses, I am extremely proud to be a part of the team that will develop a premier base area project at Keystone.”
On the four-acre site located adjacent to the River Run Gondola terminal, the developer is proposing a full-service 107-room RockResorts-branded hotel, spa, restaurant, and banquet space to be managed by Vail Resorts’ hospitality division, approximately 95 residential condominiums, and more than 12,000 square-feet of commercial space, including third-party-operated restaurant and retail space.
“This sale to a Colorado-based third party provides a tremendous opportunity to add a vibrant mix of lodging, retail and services to a prime parcel of land at Keystone Resort and a prominent gateway just steps away from the mountain,” said James O’Donnell, executive vice president of hospitality, retail and real estate at Vail Resorts.
One River Run Acquisition, LLC (ORRA) is made up of a group of seasoned Colorado developers. The organization’s development experience includes commercial, multi-family, mixed-use, residential, medical facilities, hospitality development and building, managing and operating more than 200 Yum! Brands properties. In addition, the group has deep ties to Summit County and Keystone including ownership of Base Camp Wine & Spirits, Sauce on the Blue, the Inxpot, and Sauce on the Maggie.