Vail celebrates the opening of 72, deed-restricted units built for the local workforce
While residents moved in throughout September, Vail’s Town Council celebrates the accomplishment and progress on housing
Ali Longwell/Vail Daily
VAIL — On Tuesday, Oct. 3, the seven members of the Vail Town Council alongside staff from the town and Triumph Development gathered to celebrate the opening of the Residences at Main Vail, a 100% deed-restricted housing project.
“There are 72 new community homes here for locals,” said Vail Mayor Kim Langmaid, before cutting a ceremonial ribbon at the development.
Residents of the 72-unit apartment complex moved in throughout the month of September into the one and two-bedroom rental units. All of the residents are part of the local workforce (as defined by the deed-restriction requirements), however, the majority of the building’s residents — 37 of the 72 units — came from the neighboring Timber Ridge development, which is slated for redevelopment starting in May 2024.
While the planned redevelopment of Timber Ridge will displace the current 250 or so residents, once complete, it will bring an additional 192 units of housing to the site — which currently has 96 units.
In addition to providing much-needed workforce housing, the town boasts that the Residences at Main Vail has various amenities including 72 parking spots, storage units, on-site laundry, 100% electrification to minimize the building’s carbon footprint, indoor and outdoor gathering spaces and more.
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The units are being rented for the following monthly rental rates (the range of rates reflects the north- versus south-facing unit rates):
- $1,700 to $1,760 for a one-bed, one-bath
- $2,025 to $2,095 for a two-bed, one-bath
- $2,160 to $2,235 for a two-bed, two-bath
The town contracted with Triumph Management West — a property management arm of its development partner on the project, Triumph Development — for the property’s leasing and building management.
The town broke ground on the $25 million Residences at Main Vail project with Triumph Development in November 2021, marking a step toward meeting its broad housing goal of acquiring 1,000 additional deed restrictions by 2027.
On Tuesday, Langmaid remarked that the completion of the development was proof of the Town Council’s commitment to workforce housing.
“Residences at Main Vail, right here, was originally conceived as a partnership with Vail Resorts as an alternate location for the Booth Heights proposed project. But as we got going, Vail Resorts decided to pull out of the deal. So now it’s really a partnership between the town of Vail and Triumph Development and the other partners that helped us build it,” Langmaid said. “It’s worked out well in the end for the community.”
She added that this shows “that the Town Council is committed to both building housing for our community and protecting our wildlife. And we know that we can do both. It doesn’t need to be one or the other. We’re doing both.”
In total, Langmaid said the town has spent over $140 million on housing in the past two years.
“We are very, very proud of the progress that the Town Council is making,” Langmaid said, adding that in the Town Council’s history “there’s never been another time” that has seen this level of investment in community housing.
Looking ahead, Langmaid also pointed out that the council has made progress including on the redevelopment of Timber Ridge, laying the groundwork for building housing at West Middle Creek (which could bring around 200 units), and making $6 million in land purchases from the Colorado Department of Transportation for housing projects.
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Coleman Wise, a construction manager with Triumph Development, which is also the town’s development partner for Timber Ridge, commented that the opportunity and experience of constructing the Residences at Main Vail will help fuel the future redevelopment of Timber Ridge.
“We appreciate the opportunity to use this as a stepping stone going forward,” Wise said, adding that there’s been “a lot of lessons learned about how things go, how to do a project like this, collaboratively with the town. I think we can take a lot going into Timber Ridge; it’s been a great experience for us.”
