Vail Daily letter: Housing opportunity | VailDaily.com

Vail Daily letter: Housing opportunity

The best use of most real estate in the Vail Valley is some form of residential housing, be it short or long term. The redevelopment of the Brookside office space along the river in Avon to the Brookside Lofts is a good example of this theory as according to a recent advertisement they have sold more than half of the units that are offered for sale.

What type of lodging does the valley especially need? We need lodging that is affordable by the people who are doing the work to keep the resorts running, the front line employees. An ideal location for such a property would be close to existing public transportation and walking distance to a grocery store, post office and bank. That sounds like it would take a pretty prime piece of real estate to meet all of those needs. If the Empty (aka Skier) Building in the heart of Avon were in such high demand, it would have been rented or sold in the past 11 years. The town of Avon has an opportunity to create long-term, affordable housing that is located in the heart of Avon. The town could use its buying power to purchase the building and lease it over the long term to an apartment developer who would build out deed-restricted units and rent them out to employees who are working in Avon and Eagle County. The lack of parking for the building would not be a huge issue as there are people without cars who will rent units as long as they are close to reliable public transportation and other amenities.

Mike Beltracchi