Garage redo faces important Vail vote
VAIL ” A Texas developer’s plan to build hotels, shops, restaurants and condos on top of the Lionshead parking garage faces a critical vote from the Vail Town Council Tuesday night.
Dallas-based Open Hospitality Partners/Hillwood Capital wants to rebuild the garage, and also add timeshares, a conference center and even more public parking in a $600 million project. The council has not decided to have the garage renovated, but it may decide tonight whether to begin negotiating with the developer, said Town Manager Stan Zemler.
The town would still have the option to not do the project, Zemler said.
The council Tuesday will also consider Open/Hillwood’s proposal to redevelop the Timber Ridge employee housing complex.
Recent studies found that the town will receive $81.9 million in public benefits, while the town land the garage sits on is worth $75 million.
Several council members and staff members went to Dallas this week to check out some of Hillwood’s other developments there, including the multi-billion-dollar Victory Park complex.
The 1,150-space Lionshead public parking garage, built in 1981, will need significant repairs if not rebuilt in the next few years, the town says. The town also needs about 1,000 new public parking spaces in the next 10 years to meet demand, the town says.
The meeting begins at 6 p.m., and the Lionshead garage is the 12th item on the agenda.
Staff Writer Edward Stoner can be reached at 748-2929 or firstname.lastname@example.org.