dillon town

Uptown 240 bankruptcy sale could be back on as saga of troubled Dillon condominium property continues

Ryan Spencer/Summit Daily
Uptown 240, a proposed 80-unit condominium development on Lake Dillon Drive on Tuesday, Aug. 15, 2023.
Ryan Spencer/Summit Daily

After being vacated earlier this month, the sale of Uptown 240 may be back on, presenting the latest twist in the multiyear saga for the partially-constructed and bankrupt 80-unit condominium development in the Dillon town core.

Dillon Town Manager Nathan Johnson said at a Town Council meeting Tuesday, Oct. 17, that Uptown 240 is asking all those who hold liens on the property to reduce or eliminate the amount owed so the sale can go through.

“It seems like things are changing at Uptown 240 with the bankruptcy proceeding,” Johnson said. “This was based on what we knew last week — was that the sale was back on. They were trying to go back around to lien holders to reduce the overall debt.”

Uptown 240 bankruptcy attorney Keri Riley on Thursday filed a motion in U.S. Bankruptcy Court District of Colorado that asks a judge to approve a sales contract between Uptown 240 and 240 Lake Dillon Drive Developer with a total purchase price of $12.75 million.

Still, the exact fate of the property remains uncertain. Uptown 240 had until Oct.

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