Plans for a ski area on the west side of Pikes Peak announced in February skidded to a stop last week when the developer failed to come up with a down-payment for the land.
John Ball of Boulder was supposed to pay land-owner Harvey Carter $1 million on March 20, but he said because of the dire economic atmosphere created by the credit crunch, his investors have been hesitant to write checks.
“I’ve got $1.5 million pledged by 22 investors,” Ball said Monday. “But it’s just taking longer to get the money together.”
In the mean time, Carter, who owns 320 acres near The Crags, said he is discussing offers from Ball and other developers who want to build a ski area on the site, including an unnamed real estate agent in Manitou Springs.
“I’m talking to both of them, plus another guy. There’s a lot going on but nothing happening,” said Carter.
He said he’ll go with the first party to make the down payment.