There’s a new heavyweight investor buying up properties on Crested Butte’s historic Elk Avenue: Jeff Hermanson, a renowned restaurateur who shepherded Larimer Square from squalor to one of Denver’s top attractions, and who has lived in Crested Butte for 48 years. Hermanson’s recent purchase of three Elk Avenue properties comes as deep-pocketed buyers — individuals and investment firms — have expanded beyond their typical purview in dense urban settings and begun parking money in rural resort communities. Earlier this year, Mark Walter, the Chicago-based owner of the L.A. Dodgers who has had a vacation home in Crested Butte since 2009, also started buying historic buildings on Elk Avenue. Reporter Jason Blevins tells us more. 

See omnystudio.com/listener for privacy information.