Aspen, Colo. (AP) A sweeping development in Aspen including two new hotels, a new lift and affordable housing may not be possible because of finances.

A consultant tells Aspen's Lift One Task Force that the development is 25 to 35 percent short of the financing developers would need to proceed. The task force of hotel executives, city officials and residents was assembled after city leaders rejected
separate plans for a new hotel last year.

Financial consultant Byron Koste says the outlook for a new aspen development is grim. As planned, the development would include six buildings, comprising two large hotels, an acre of underground parking, affordable housing and a new Poma lift ascending the hillside.

The development would be at the base of Lift 1a.