Aspen McMansions: a new life as assisted-living facilities?

Real Estate Roundabout

Money just ain’t what it used to be in Aspen, Colo.: The super-rich homeowners who dominated the chi-chi ski capital in recent years lost a bundle in the recession and are unlikely to maintain their role in Aspen’s future.

That’s according to a former demographer for the Colorado state government, who told local officials they ought to be courting more tourists and retirees and to stop depending on the financial elite.

The demographer, Jim Westkott, suggested that some local mansions of 10,000 square feet or more eventually might be converted into duplexes, co-ops or assisted-living facilities as baby boomers begin to retire, according to an Associated Press report.