Vail's Evervail and Lionshead Parking, Hotels and Condominiums compete for business

Lionshead Development in Vail

The Town Council, is moving ahead with plans for an estimated $900 million hotel, convention and commercial center redevelopment proposed on the site of the Lionshead Parking Structure.  Lionshead Parking Structure Redevelopment Proposal  The plan proposes to add another 2,100 parking spaces and provide for a third mass transit terminal.  There are those in official Town positions who are reluctant to approve Ever Vail without first leveraging VRI to release their legal hold over the parking structure site.   Zoning restrictions limit the Town providing public parking and transportation related uses.

Vail Resorts continues to move their Ever Vail proposal through the Town of Vail’s approval processes.  Ever Vail Development Proposal  The Ever Vail plan includes its own up-mountain gondola, public mass transportation terminal and over 2,000 on-site parking spaces.  The plan has the capability to be modified to include a large convention center.  Depending on its size, the Ever Vail Convention Center would give direct competition to the Town’s proposal for the Lionshead Parking Structure. 

Evervail Development in Vail

Given the national economic situation, can the real estate market simultaneously absorb both the Ever Vail and Lionshead Parking Structure projects?   Real estate sale transactions are down 47% from last year.   The economic slow down has hit the Vail Valley.  All you have to do is look at how many residential listings are on the market for longer than 90 days. 

For information on this Buyer’s Real estate market contact Teri Lester, Eco-Broker 970-376-0779 or tlester@gatewayland.com

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