Vail municipal site redevelopment considered Tuesday
Vail, CO Colorado
VAIL, Colorado – On Tuesday, the Vail Town Council will consider approval of a memorandum of understanding with Vail Valley Medical Center and the Steadman Clinic that would lead to redevelopment of the municipal site when the council meets for its regular session.
The town, in a partnership with Vail Valley Medical Center, the Steadman Clinic and the Steadman Philippon Research Institute, has been studying the potential to build a medical office building on the west side of the site and a new municipal building on the east side of the property since May. The partners have contracted with Triumph Development LLC for the project’s feasibility analysis.
The project contemplates a new 56,500-square-foot medical office building and 21,850 square feet for municipal offices in two separate buildings serviced by a 200-space underground parking garage. The town’s portion of the redevelopment is estimated at $12 million to $14 million, which excludes a credit the town would receive from the sale of land. The project is seen as a major economic stimulus for the town in providing future growth and expansion opportunities for the medical community.
-During the evening meeting which begins at 6 p.m. Tuesday, the council will be asked to take formal action on the redevelopment memorandum of understanding.
Additional information about the project is available on the town’s website at http://www.vailgov.com or by contacting George Ruther, town of Vail community development director, at 970-479-2145.
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