Vail begins employee duplex Tuesday
Vail, CO Colorado
VAIL, Colorado – The town of Vail will host a groundbreaking ceremony at 11:15 a.m., Tuesday, as work begins on a duplex on Arosa Drive meant for local employees.
The town has awarded a $781,000 contract to J.L. Viele Construction to build the duplex on the town-owned property, which will be completed by May 1, 2010. The purchase price for each of the deed-restricted units is estimated to be between $375,000 and $400,000.
Each half of the duplex will have just over 1,600 square feet of living space plus an attached two-car garage on a half-acre lot. The units will each have two levels with three bedrooms and two-and-a-half baths, plus a mud room off the garage.
The town will sponsor a lottery in October to determine a ranking for qualified buyers. Applicants for the October lottery will be required to meet the following basic eligibility requirements to qualify:
• The residence must be used as an owner-occupied primary home.
• Individuals must be employed at an Eagle County business and must work a minimum of 30 hours each week over the course of a year and continue working that same amount until the sale of the property or retirement.
• Individuals must agree to a re-sale cap of 3 percent annual appreciation.
Floor plans for the Arosa duplex are available on the town’s Web site at vailgov.com.
Members of the public are invited to Tuesday’s groundbreaking. Parking is available at the former Wendy’s restaurant site on North Frontage Road.