Vail council to vote on Lionshead redevelopment
Vail, CO Colorado
VAIL, Colorado – The town of Vail could vote Tuesday to kill a deal with Open Hospitality Partners that would have redeveloped the Lionshead parking garage into hotels, timeshares, shops and more parking.
Mark Masinter, of Texas-based company Open Hospitality Partners, sent a letter to the town July 28 requesting that Vail Associates lift its deed restriction on the garage, which has been a problem for the developer throughout talks of the $900 million project since 2006.
The Town Council was expected to kill the deal at its last meeting, but Masinter wasn’t there because he had a death in the family. Councilman Mark Gordon said the council owed it to Masinter to allow him to be there if the council was canceling the deal.
The original development agreement expired in June. The town’s draft letter to Masinter states that because the original agreement expired and there’s no current agreement to develop, the town “will be exploring other options for the Lionshead Parking Structure property.”
Staff Writer Sarah Mausolf contributed to this report.
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