Timber Ridge renovation returns
VAIL, Colorado ” Vail may seek developers for a new Timber Ridge as early as October.
In a first phase, a portion of the property would be redeveloped into seasonal housing with a capacity of 800 people, according to recommendations from a committee.
The town of Vail could be the developer, Town Manager Stan Zemler said.
A “request for qualifications” from developers could be issued by early October, Zemler said.
The town will likely seek funding from other entities, including Eagle County, Vail Resorts and the Vail Valley Medical Center, Zemler said.
The 198-apartment Timber Ridge is the largest employee housing complex in Vail, with a capacity of nearly 800 residents. The town-owned apartments, built in 1981, need almost $2.5 million in repairs over the next few years if they aren’t torn down.
In recent years the town has considered several proposals to rebuild the complex, including one from Vail Resorts and one from Open Hospitality Group/Hillwood Capital, the group that wants to rebuild the Lionshead parking structure. But each of those proposed was rejected.
Staff Writer Edward Stoner can be reached at 748-2929 or firstname.lastname@example.org.