Big developer may trim staff
BEAVER CREEK, Colorado ” East West Partners, a big developer in the Vail Valley, is looking to cut back staff as work is drying up in the county, the company says.
Five local employees have been told their jobs will be eliminated by next April if more work isn’t found by then, said Managing Partner Harry Frampton.
The five affected employees could get jobs in other places where East West is developing, including Denver, Canada and South Carolina, Frampton said. The company is taking similar measures at its Lake Tahoe office, he said.
“The Vail Valley has been a hotbed of development for a long time,” Frampton said. “But Beaver Creek is finished. Bachelor Gulch is finished. Arrowhead is finished. There are not many places to do development.”
Beaver Creek-based East West Partners is now finishing up two major projects: the 235-room Westin Riverfront Resort and Spa in Avon and the Penthouses at Manor Vail addition in Vail.
The company has built much of Beaver Creek, including the Park Hyatt, Villa Montane, the Vilar Center, Saddleridge, the Meadows and Village Walk. It also developed Eagle Ranch in Eagle and Mountain Star in Avon.
“No matter what, we would be doing less development in the Vail Valley than in the last 10 to 15 years because there’s nowhere to build,” Frampton said.
Add to that the softer market for real estate, Frampton said. County real-estate dollar volume is 73 percent of what it was last year through July, according to statistics from Land Title Guarantee Co. in Eagle.
The ebb and flow of work is common in the development business, Frampton said.
“This is not unusual in the construction business, to say we don’t have anything else for you to do unless you’re willing to relocate to the other parts of the country where we do have projects going on,” he said.
East West Partners has 15 to 20 people in the construction division of its local office, Frampton said.
Staff Writer Edward Stoner can be reached at 748-2929 or firstname.lastname@example.org.