If you arrive in Ketchum from the south entrance, on the right side of the road you’ll pass a fenced-off lot that has been excavated and looks abandoned.
It’s the site of a proposed luxury hotel that has been in the works for over 10 years and was announced about five years ago. It was initially supposed to open in 2017. But the developer, Trail Creek Fund LLC, has had trouble financing the project. After several extensions, the city council decided this week that Trail Creek breached the contract which approved the development.
“In my mind there’s a material breach because the financing has not been closed by today as was required,” said council member Amanda Breen.
After the breach is made official, Jack Bariteau of Trail Creek Fund will have 60 days left to present the funding for this project. He indicated during the meeting that believes he can pull it together by then.
If not, the city will establish a path forward for the site, which may include filling in the hole.
This isn’t the only hotel project the resort town is grappling with. Next week residents will gather for a hearing on the construction of a Marriott-owned hotel in the same area.
Find reporter Rachel Cohen on Twitter @racheld_cohen
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