Town of Vail hosts second lottery for Chamonix townhomes Jan. 22
VAIL — The town of Vail and the Vail Local Housing Authority will host a second lottery for anyone interested and pre-qualified to purchase one of five available townhomes at Chamonix Vail at 6 p.m. Monday, Jan. 22, in the Vail Town Council Chambers.
Similar to the first lottery selection held on May 3, 2017, lottery winners will be selected at random. Doors open at 5:30 p.m., and participants are encouraged to arrive early.
The five townhomes currently available include one two-bedroom, two-bathroom, two-car garage; one three-bedroom, three-bathroom, one-car garage; and three three-bedroom, three-bathroom, two-car garage properties. The homes are priced at $499,000, $549,000 and $599,000, respectively.
The deed-restricted properties are among 32 new townhomes being built by the town in partnership with Triumph Development West. The homes are being built in stages, with move-in for the first owners occurring Friday, Jan. 26, and all homes completed by mid-April 2018.
The upcoming lottery follows an earlier event on Monday, Jan. 15, in which homebuyers who participated in the first lottery had an opportunity to trade their townhome for any available home on the site or to purchase an available home. That process resulted in three buyers trading their home selection for a different home or different location and three persons on the original waitlist selecting a new home for purchase.
In addition to an executed purchase contract, new buyers will be required to submit a pre-qualification letter from a lender and commit to participate in a future homebuyer education class. Homebuyer packets, including copies of all pertinent legal documents, are available for pickup and review at the Community Development Department offices and online at http://www.chamonixvail.com.
Facing traffic woes and oncoming growth, officials are looking at road improvements.