Acquisition group earns critical approval on Cornerstone development

by Dalton Carver

The Cornerstone Acquisition Group walked into the Jan. 29 Board of County Commissioners meeting knowing a decision handed down by commissioners that morning could make or break their cause. Discussing the bumpy history of the development and convincing the board of their intent to positively continue the development’s journey toward completion, CAG successfully earned approval on the fifth amendment to Cornerstone’s development agreement.
With that approval, CAG can begin purchase of properties and revitalization of the development that is located in both Ouray and Montrose counties. Aside from the club amenities, CAG doesn’t own any of the Cornerstone properties but hopes to change that following the amendment approval.
“We have an agreement to purchase all the assets, so this hearing is critical for us to move forward,” said Tom Kennedy, representing CAG at the meeting. “If this hearing didn’t go well, then we were going to have to rethink our purchase.”
The agreement officially establishes CAG as...

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