Forecasting the future of Aspen-area commercial real estate has earned Randy Gold regular speaking engagements at the Aspen Board of Realtors’ annual luncheon, and his company has done more than 24,000 property appraisals over the past four-plus decades.

These days, however, Gold is shunning the crystal ball when it comes to commercial real estate downtown, whether it concerns property values or demand for commercial leases.

“It’s too soon to tell,” he said last week. “Most of the landlords have tried to do some kind of accommodating; whether willingly or begrudgingly, most of them are doing that. But I don’t think anyone I know is making any long-term commitments.”

A rent-relief program, introduced by the city in response to the pandemic, is aiding more than 100 Aspen businesses from April through July. The program requires financial participation from tenants, landlords and the city, with each paying one-third of the monthly rent. Tenants are receiving an average subsidy amount of $8,320.

Rick Carroll - Aspen Times