Affordable homes, retail, offices proposed for Vail Village
Vail, CO Colorado
VAIL, Colorado ” A developer has plans for the “Marketplace,” a mix of office space, affordable homes and retail stores next to the Vail Village, Colorado, parking structure, town planners said.
Triumph Development submitted an application to amend the village master plan, which would allow the company to build on the town-owned land just south of the transportation center.
Plans call for a three- to four-story brownstone building that would include 40 to 45 for-sale, affordable homes, 20,000 to 30,000 square feet of retail, and 20,000 to 30,000 square feet of office space.
The project could provide a welcoming entry point into the village and be a place where people could live and work, said Steve Virostek, principal of Triumph Development.
Right now the small, empty lot is zoned for parking. The developer would have to submit for a change to the master plan, which would have to be approved by the Vail Town Council, before any definite plans for the project would be discussed, said Vail Community Development Director George Ruther.
The plan could come before the towns planning commission as early as Dec. 8, he said.
The homes in the project would be for-sale, deed-restricted housing that would range from $250,000 to $1.2 million, said Virostek.
“This particular one is geared more toward professionals because of the cost of development,” he said. “It’s a lot of money, but that’s the cost to develop.”
He said the Marketplace would complement the existing feel of the village, and that the company is in the process of talking to people in the community and other businesses to gauge interest in the project.
“It’s a creative way to address some needs that (Vail) has, and to have people working and living in the village,” Virostek said. “That can only be a positive for existing residents and businesses.”
The idea for the project came before the Town Council earlier this year, but Triumph Development decided to wait until the town updated its master plan for Vail Village first.
If the land is developed, the town would either sell it to the developer, exchange it for other land in town, or negotiate a long-term land lease, Ruther said.
“Given the town’s preferences in past, if this were approved, it’d be land lease,” he said. “The town typically doesn’t sell its land assets.”
Staff Writer Melanie Wong can be reached at 970-748-2928 or email@example.com.