Vail issued 686 building permits last year
Vail, CO Colorado
VAIL, Colorado – The Town of Vail Community Development Department issued 686 building permits with a total valuation of $59.9 million in 2011. This is about half the number of permits issued during the highest year in Vail’s history, 2007. While 2004 to 2008 saw peak activity, Vail has been trending toward more typical averages in building permits and valuation over the past three years, officials said.
Current project valuations are also being impacted by a nationwide reduction in the cost of construction. Building fee collections totaled $1.9 million in 2011, compared with $2.1 million in 2010, a decrease of 11 percent. The town of Vail has not adjusted its building permit fees since-2002.
Over the past four years development projects in Vail have been smaller in scope and size, according to Ruther. The Community Development Department added contract positions to respond to the boom of 2004 to 2008.
The surge was driven by large projects such as The Arrabelle at Vail Square, Solaris, Ritz-Carlton Residences, Four Seasons and The Sebastian. The next project of such magnitude is likely to be the Ever Vail development, which is currently being reviewed by the Town Council and is proposed to be built in phases.
Building activity in 2012 is anticipated to include several town-initiated projects including a remodel of the Vail Library, improvements to the Lionshead streetscape entries and renovations at Ford Park.
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