According to this article in Bloomberg, there is a rather large turn of events happening with regard to the foreclosure action taking place in Snowmass, CO. Apparently Base Village Owner, LLC, the developer of the new Base Village there, has now filed a $406 million suit against the lenders who are foreclosing on them. This is a somewhat parallel story to one I ran yesterday and a follow-up to one that I ran a few weeks back on this very development. It looks like there is going to be a much worse problem than I had thought. These developments are really going to become wastelands if they get tossed into a court battle.

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