Step aside, Aspen. There's a new town aiming to be Colorado's luxury hot spot.

Construction in Colorado's Snowmass Base Village.

Monica Humphries/Business Insider

• Snowmass is a Colorado ski town that's undergone major development in the past decade.
• For years, Snowmass was often compared to its neighbor, Aspen.
• Now, it's creating its own reputation with fine dining, luxury real estate, and a family-friendly mountain.

If you spend enough time in Snowmass Village, Colorado, a family metaphor is bound to come up.

"Snowmass was just a sleepy second cousin to Aspen," Bo Bedford...