Texas firm on tap for Timber Ridge rebuild | VailDaily.com

Texas firm on tap for Timber Ridge rebuild

Melanie Wongmwong@vaildaily.comVail, CO Colorado

VAIL, Colorado The town of Vail will enter into exclusive talks with a Texas-based company, Timber Ridge LLC, to rebuild the towns largest employee housing complex.The Town Council voted unanimously to negotiate with the company for 60 days, after which the town may enter into a contract with the company to complete the project. Timber Ridge LLCs proposed plan to rebuild half of the aging Timber Ridge complex was the closest to meeting the goals the town outlined when it put the project out to bid, said Councilwoman Margaret Rogers.Under the companys plan, the redevelopment would provide 619 employee beds that would remain affordable housing. The complex would be ready for tenants in 2011, according to the plan.Also, the project would relieve the town of $11 million in public debt on the property.Timber Ridge LLC was chosen from 11 developers who responded to the towns request for bids. Four companies, including Timber Ridge, LLC, were then selected from the group for in-depth interviews.The Timber Ridge LLC team has built more than 360,000 residential units and manages more than 35,000 residential units. We have extensive experience in the Rocky Mountain Region and our design team comprises nationally acclaimed architects, and one of the members is located in Vail, wrote the company in an e-mail. Our objective is to provide optimum workforce housing in the town of Vail. We are dedicated to accomplishing this goal and have the team experience and financial strength to achieve this goal.The town has attempted to rebuild Timber Ridge several times in the past, but talks have failed with numerous developers.I feel the most optimistic Ive felt about an actual development, said Councilman Mark Gordon. Were the closest weve come to redeveloping this and getting the 619 pillows.The other three companies in contention for the project were Fritzlen Pierce Architects of Vail, Gorman & Company of Wisconsin and Alliance Residential Company of Denver.The companies were asked to present how they would build the project, what the design would look like, why they were qualified, and how they would finance the project.I think weve been through a very comprehensive process that has really focused on coming up with an affordable project, said Councilman Andy Daly. Im very pleased with the progress weve made.Staff Writer Melanie Wong can be reached at 970-748-2928 or mwong@vaildaily.com.

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