The Aspen Skiing Co., which owns Snowmass, is teaming up with Canada-based Intrawest Corp. to create a village that would include as many as 700 condo units, retail shops, apre-ski bars and restaurants. The proposal also calls for construction of an open-air gondola to shuttle guests between the village and a nearby mall.

A "pre-sketch" view has been presented to the Snowmass Village Town Council and the local planning commission. In January, Intrawest and Aspen Skiing will present a formal application after gauging the impression of town leaders and the public.

The project would be similar in size to the 12-acre, $500-million village at Copper Mountain, which was developed by Intrawest. One attraction of the new development is that it would supply the resort with 3,000 "warm beds," an industry label because they are rented frequently. Currently, Snowmass has a number of large single-family homes and condos, which primarily are owned by wealthy out-of-staters and sit empty for most of the year.