Colorado Town Being Considered for Hot SpringsDestination

By Ian Wood
Will thousands of acres of land in the town of Rico, Colorado go to a land conservancy or a company that wants to develop it into a hot springs destination? The Denver Post reports the area is grappling with this question. Last Wednesday, Telluride Properties put 1156 acres in the town of Rico for sale at the price point of $10 million. Surrounded by the San Juan Mountains, the town has stayed mostly quiet since its mining boom in the 1800s, with only a couple hundred people currently living there. While zoning for the land has been approved, the new buyer would have to deal “with flood plain and wetland issues on the riverfront land proposed for the hot springs resort and securing adequate water supply and infrastructure for the homes. Residents would also need to be convinced to set aside rules designed to preserve Rico’s status as a mountain hamlet, ones designed to limit its ability to convert into a tourist resort. [Read More]