After more than a decade of planning, a community vote that passed by just 26 ballots, and years of permit reviews and redesigns, Chalet Alpina is officially underway. Construction has begun on what will become Aspen’s second base village – a $350 million transformation of the west side of Aspen Mountain that hasn’t seen real investment since the 1970s.
It’s one of the most significant developments in Aspen’s modern history. And if you’re curious what it means for the mountain, for the neighborhood, and for buyers – here’s everything worth knowing.
What’s Actually Being Built
Spanning two and a half city blocks along South Aspen Street, Chalet Alpina will include a luxury hotel, fractional and full-ownership residences, restaurants, retail, a rooftop pool, underground parking, and a brand-new modern ski lift positioned closer to downtown than any current lift on the mountain.
The total project clocks in at over 200,000 square feet. Completion is expected in 2029.
The development is being led by Irongate Group – the team behind Costa Palmas in Cabo, one of Mexico’s most celebrated luxury resort communities – in partnership with HayMax Capital, a local Aspen firm with deep roots in the valley. Architecture is by Guerin Glass Architects, with interiors by Martin Brudnizki Design Studio. The aesthetic intentionally moves away from Aspen’s recent trend toward cold minimalism, leaning instead into warm woods, brass accents, and rich marble details.
The Lift One Corridor: The Bigger Picture
Chalet Alpina is the centerpiece, but it’s part of a broader redevelopment of the entire Lift One corridor – a multi-stakeholder project totaling more than 320,000 square feet across new and restored buildings, plus underground parking.
The full corridor includes:
- Chalet Alpina – the luxury hotel and residences at the base of the new lift
- An Aman hotel – formerly known as the Gorsuch Haus, now being developed by OKO Group as a full Aman destination property
- A new chairlift – replacing the aging Lift 1A, positioned closer to downtown and operated by Aspen Skiing Company
- A ski museum – the historic Skier’s Chalet Lodge, to be relocated and operated by the Aspen Historical Society
- A new public plaza – broader streetscape improvements along South Aspen Street, funded in part by a $4.36 million city contribution
The original Lift 1A base terminal and first lift towers from the 1940s will be preserved in place as a historical landmark – a nod to where it all began.
26 Fractional Residences: The Ownership Opportunity
Chalet Alpina will include 26 fractional residences, with entry pricing starting under $3 million. For context: that’s a meaningful threshold in a market where full condos routinely trade well above $5 million, and where ski-in/ski-out new construction is essentially nonexistent.
Fractional ownership here means purchasing a deeded share of a residence – not a timeshare. You own real property. It can appreciate, be sold, or transferred. In exchange for a fraction of the purchase price, you receive a set number of weeks per year, with access to five-star hotel services, dedicated staff, and an in-house rental management program.
The fractionals are well-suited for buyers who want real ski-in/ski-out access, the infrastructure of a five-star property behind them, and a financial entry point that leaves room in the portfolio.
6 Full-Ownership Mountain Homes
On the left-hand side of the new lift, Chalet Alpina will include just six full-ownership residences. Four four-bedroom units, one five-bedroom home, and one penthouse-style unit – with the largest expected to be around 2,800 square feet.
Pricing is expected to exceed $10,000 per square foot, putting the largest homes in the $35–40 million range. For buyers seeking a primary or secondary residence that will set a new benchmark in this market, there is genuinely nothing else like it in the pipeline.
What the Timeline Looks Like
Construction is underway, with major phases ramping up through spring 2026. Here’s how the sequencing is expected to unfold:
- Spring 2026: Relocation of the historic Chalet structures; excavation, shoring, and foundation work begins
- 2026–2028: Above-ground construction across the project’s three main buildings
- Post-2025–26 ski season: Lift 1A removal and new lift construction begins
- 2028–29 ski season: New lift expected to be operational
- 2029: Full project delivery
Total construction is anticipated to take 40–44 months. The city of Aspen has been involved throughout the permitting and sequencing process, and both the Chalet Alpina and Aman teams must satisfy employee housing requirements before receiving certificates of occupancy.
What This Means for Buyers
Projects of this scale and quality simply don’t come along often in Aspen — and the window to get in early is narrow. By the time Chalet Alpina delivers in 2029, this side of the mountain will look entirely different. A new lift closer to town. A fully activated base village. A luxury hotel and two residential products that set a new standard for what slope-side ownership looks like in Aspen.
Whether you’re weighing the fractional opportunity for lifestyle use, income potential, or long-term appreciation — or you’re interested in the full-ownership mountain homes — AG Aspen is tracking this project closely and is here to help you navigate it.
Reach out to start the conversation. We’d love to walk you through what’s available and what’s coming.
