Vail wants Timber Ridge rebuilt
Vail, CO Colorado
VAIL, Colorado ” The town of Vail, Colorado officially put out the call for developers to rebuild the town’s largest but rapidly aging employee housing complex.
The town put out a “request for qualifications” ” a process to find a qualified candidate for a project ” on Thursday to redevelop the town-owned Timber Ridge. The town is looking for someone to fully renovate the 198-unit complex in two phases, with construction slated to start by 2010.
The complex is in poor condition and the town thinks that about 600 more beds could be added to the site.
Interested developers will present their qualifications to the town by Jan. 29.
“We want some detail on their plan,” Town Manager Stan Zemler said. “We also want to see that they have the financial capability, an operating plan once the project is built, and that they have experience building employee housing.”
Zemler said the town has already heard from many developers who are interested in the project, including Mark Masinter’s company Open Hospitality Group/Hillwood Capital, and former county commissioner Tom Stone.
“We’ve had a fair number of inquiries,” Zemler said. “We have 10 or 12 on the list so far.”
The Vail Town Council had also considered negotiation exclusively with Vail Resorts Development Co. The council eventually decided they wanted to see what other developers had to offer also, but that hoped Vail Resorts would participate in the request-for-qualifications process.
However, Vail Resorts said they will not consider building both Timber Ridge and the North Day Lot, where the company is committed to building 120 employee beds as part of it’s obligations for the Arrabelle in Lionshead.
Vail Resorts is not opposed to redeveloping Timber Ridge, but only if their housing obligations shift from the North Day Lot to the 600 beds requested for Timber Ridge, company representatives have said.
“If the town would be willing to consider certain alternatives, we would be willing to participate and provide the council a proposal to review,” said Vail Resort’s Eagle County spokeswoman Kristin Williams. “At the moment, we remain solely focused on completing our proposed employee housing project on North Day Lot.”
If the town finishes the request process and still wants to discuss alternatives with Vail Resorts, the company is willing to do that also, Williams said.
Staff Writer Melanie Wong can be reached at 970-748-2928 or email@example.com.