Redstone is a treasure of unforgettable beauty, elegant charm and rich, colorful history. Located 186 miles southwest of Denver on Colorado 133 near Aspen. Redstone is set on the banks of a sparking river and surrounded by towering red cliffs, making it an aesthetic wonderland and an outdoor enthusiast's paradise. REDSTONE - This town is so small that even the dogs are subjects for gossip. Speeding past the exit to Redstone on Colorado 133, it's easy to overlook this historic gem next to the rushing Crystal River.