HomeMy WebLinkAboutPEC140033
Project Name:PEC Major SDD no ext. Chg PEC Number: PEC140033
Project Description:
Amendment to SDD8 to allow for 3 existing commercial condominiums to be converted to
residential use.
Participants:
OWNER FRC3 LLC 08/21/2014
PO BOX 5601
VAIL, CO
0
APPLICANT FRC3 LLC 08/21/2014 Phone: 970-328-5015
MATTHEW KING
PO BOX 5601
VAIL
CO 81657
Project Address:1650 VAIL VALLEY DR VAIL Location: Fallridge Units C1, C2, C3
Legal Description:Lot: 2 Block: Subdivision: FALL RIDGE COND
Parcel Number:2101-091-0207-4
Comments:See Conditions
BOARD/STAFF ACTION
Motion By:Kurz Action: APPROVED
Second By:Hopkins
Vote:7-0-0 Date of Approval: 09/22/2014
Conditions:
Cond: 8
(PLAN): No changes to these plans may be made without the written consent of Town of
Vail staff and/or the appropriate review committee(s).
Cond: CON0014021
Prior to requesting a Final Planning Inspection, the applicants shall amend the plat
and governing documents regarding the change in use for units C-1, C-2, and C-3.
Cond: CON0014020
The applicants shall each mitigate the employee generation impact created by the
addition of 5,132 square feet of GRFA (C-1, 2,661 sq. ft.; C-2, 954 sq. ft.; C-3,
1,517 sq. ft.) in accordance with the provisions of Chapter 12-24, Inclusionary
Zoning, Vail Town Code. Each applicant shall mitigate their specific unit’s impact
according to the methods and timing prescribed in Section 12-24-6, Methods of
Mitigation, Vail Town Code.
Planner:Joe Batcheller PEC Fee Paid: $1,250.00
� L% v i� ) Department of Community Development
4.J 75 South Ftontap 1
TOWN 0f VAIL' AuC1 2 � 2014 VAR, co $1s
Tel: S7b "2128
www.valigov.com
,i•a. s r w r e%C WA 11 Development Review Coordinator
Special Development District
Application for Review by the
Planning and Environmental Commission
General Information: This application is required for any proposal involving the establishment of a new special
development district or an amendment to an existing special development district. The purpose of the Special
Development District is to encourage flexibility and creativity in the development of land In order to promote its most
appropriate use; to improve the design character and quality of the new development with the Town; to facilitate the
adequate and economical provision of streets and utilities; to preserve the natural and scenic features of open space
areas; and to further the overall goals of the community as stated in the Vail Comprehensive Plan. An approved
development plan for a Special Development District, in conjunction with the property's underlying zone district, shall
establish the requirements for guiding development and uses of property included in the Special Development District.
The Special Development District does not apply to and Is not available in the following zone districts: Hillside
Residential, Single- Pamity, Duplex, Primary/Secondary. The Vail Town Code can be found on the Town's website at
www.vailgoy.com. The proposed project may also require other permits or applications and/or review by the Design
Review Board and/or the Town Council.
Fee: "000 —New SOD
$6000- -Major Amendment to an SOD
$1250 —Major Amendment to an SOD, no exterior modifications
$1000 —M nor Amendment to an SOD
Description of the Request: Amend SDD8 to allow the three (3) existing commercial Condominums to
be converted to residential . We propose to amend &18.41.060 to allow max. gross residential
floor area of approx. 90.250 ft. and 74 maximum dwelling units to accomplish this result.
Physical Address: 1650 Fallridge Road, Vail CO 81657 (Units C -1. C -2 and C -3)
Parcel Number: 2101-091-02-074& see attach'd (Contact Eagle Co. Assessor at 970 - 328 -8640 for parcel no.)
Property Owner: 'FRCS, LLC & see attached oo 1 - z!)9 i • Oa -6:1.9 — oal
Mailing Address: P.O. Box 5601 Vail CO 81658 & see attached
Phone: 970- 328 -5015 and see attached
Owner's Signature: Matthew K9
Primary Contact/ Owner Representative: Matthew King
Mailing Address: P.O. Box 5601 Vail CO 81658
Phone: 970 - 328 -5015
E -Mail: mking1881Ca-msn.com Fax:
For Ofttce Use Only:
Cash_ CC: Visa / MC Last 4 CC # _WAJU Exp.
Fee Paid:
Meeting Date• , 1
Planner.
Date: Auth # Check # .?I
Received F
PEC No.:
Project No:
Zoning: Land Use:
Location of the Proposal: Lot= Block: Subdivision: ., hL)16k ?�
Jan 2014
INDEX OF ATTACHMENTS
1. Fallridge Condominium Association Approval Memorandum
2. Owners' Authorization Memorandum
3. Title Reports for Fallridge Units C -1, C -2 and C -3
4. List of adjacent property owners for notice and addressed/stamped envelopes
5. Statement in Support of Application to Amend SDD8
6. Vicinity Plan - Aerial Photograph
7. Plan Views Parking Garage Levels -1 and -2
8. Photographs of Fallridge Building Exterior
Fallridge Condominium Association
To: Town of Vail, Community Development Department
Fr: Fallridge Condominium Association, Inc., a Colorado non - profit corporation
Re: Application for Amendment to Special Development District 8 Allowing Change from
Commercial Uses to Residential Use for Fallridge Building Commercial Units
The Fallridge Condominium Association hereby provides its approval for the three (3)
commercial condominium units located in the Fallridge Building, known as Units C -1, C -2 and
C -3, to be allowed to change from commercial uses to residential use. We understand that in
order for this change to be approved by the Town of Vail an amendment to Special Development
District 8, which encompasses the Fallridge Building, is required and this memorandum is being
provided at the request of the owners of the above - mentioned commercial units in the Fallridge
Building.
The foregoing approval is subject to: (1) final approval by the Fallridge Board of the details of
the conversion of each commercial unit; (2) final approval by the owners and first mortgagees of
condominium units in the Fallridge Building in accordance with the requirements of the
Condominium Declaration for the Fallridge Condominiums dated December 9, 1977, as
amended, (the "Declaration "), which approval, if obtained, will be set forth in an amendment to
the Declaration for this purpose that the conversion to residential use must be completed within a
time limit to be set by the Association in its Declaration, and once converted may no longer be
occupied or used as commercial units; and (3) all applicable requirements, conditions, approvals,
permits, permissions, laws, regulations, ordinances and rules that now or hereafter apply to such
change in use, including, without limitation, (a) any applicable Town of Vail building permits or
other requirements and (b) the covenants, conditions, restrictions and rules of the Fallridge
Condominium Association.
FALLRIDGE CONDOMINIUM ASSOCIATION, INC.
By:
Title:.c>_<s"�, -1
Date: August/-Y",2014
1650 Fallridge Road Vail, CO 81657 (970- 476 -2000)
August 19, 2014
To: Community Development Department, Town of Vail
Re: Application to Amend Special Development District 8 (SDD8)
We the undersigned are jointly submitting to the Town of Vail an application for the amendment
of SDD8 that if approved will allow our commercial condominiums to be converted to
residential use (the "Application "). We authorize Matthew King to submit the Application on
our behalf and to act as our representative in the approval process.
FRC3, LLC Owner of Fallridge Unit C -3 (Parcel #2101- 091 -02 -074)
By Matthew L. King, Managing Member
(signature)
Matthew L. King
Mailing Address: P.¢ Box 5601, Vail CO 81658
Telephone No: 970- 328 -5015
email: mking1881@msn.com
B. Spencer Blair Irrevocable Trust Owner of Fallridge Unit C -2 (Parcel #2101 -091 -02 -073)
By Mery Lapin, Trustee
(signature)
Mery Lapin
Mailing Address: 232 W. Meadow Dr, Vail CO 81657
Telephone No: 9751471 -4224
email: mervlat fi a?.hotmiail.com
(signature)
F. Pierc Jr weer o alhidge Unit C-1 (Parcel #2101 - 091 -02 -072)
Mailing Address: c% Pierce Architects, Inc. 1650 Fallridge Rd, Unit C -1 Vail CO 81657
Telephone No: 970 -476 -6342
email: bill @vailarchitects.com
August 19, 2014
To: Community Development Department, Town of Vail
Re: Application to Amend Special Development District 8 (SDD8)
We the undersigned are jointly submitting to the Town of Vail an application for the amendment
of SDD8 that if approved will allow our commercial condominiums to be converted to
residential use (the "Application "). We authorize Matthew King to submit the Application on
our behalf and to act as our representative in the approval process.
FRC3, LLC'Owner of Fallridge Unit C -3 (Parcel #2101 - 091 -02 -074)
By Matthew L. King, Managing Member
(signature)
Matthew L. King
Mailing Address: /-328-50i'5 601, Vail CO 81658
Telephone No: 97
email: mldngl881@msn.com
B. Spencer Blair Irrevocable Trust Owner of Fallridge Unit C -2 (Parcel #2101- 091 -02 -073)
By Mery Lapin, Trustee
Wr-IX Lr-�,
(signature)
Mery Lapin
Mailing Address: 232 W. Meadow Dr, Vail CO 81657
Telephone No: 970 - 471 -4224
email: mervlapin@hotmail.com
(signature)
William F. Pierce, Jr. Owner of Fallridge Unit C- 1(Parcel #2101- 091 -02 -072)
Mailing Address: c/o Pierce Architects, Inc. 1650 Fallridge Rd, Unit C -1 Vail CO 81657
Telephone No: 970476 -6342
email: bill @vailarchitects.com
i
08/20/2014 9:59:09 AM Commitment No.: 454- HO409973- 610 -ETO
Commonwealth Land Title Insurance Company
COMMITMENT
SCHEDULE A
Commitment No: 454- HO409973- 610 -ETO
1. Effective Date: August 15, 2014 at 7:00 A.M.
2. Policy or policies to be issued:
Proposed Insured
(a) ALTA Owners Policy 6 -17 -06
To Be Determined
(b) None
Policy Amount
$0.00
$0.00
3. The estate or interest in the land described or referred to in this Commitment is:
A Fee Simple
4. Title to the estate or interest in the land is at the Effective Date vested in:
William F. Pierce, Jr.
5. The land referred to in this Commitment is described as follows:
See Attached Legal Description
(for informational purposes only) 1650 Fallridge Rd. #C -1, Vail, CO 81657
PREMIUMS:
Owners Coverage: $100.00 - TBD
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
ASSOCIATION
Land Title Association.
7 r-
08/20/2014 9:59:09 AM Commitment No.: 454- H0409973- 610 -ETO
Attached Legal Description
Condominium Unit C -1, Fall Ridge Condominiums, according to the Condominium Map for Fall Ridge
Condominiums, recorded January 26, 1978 in Book 266 at Page 87, and Amendment recorded October 27, 1978
in Book 277 at Page in the records of the Office of the Clerk and Recorder of Eagle County, Colorado and as
defined and described in the Condominium Declaration for Fall Ridge Condominiums, recorded December 9,
1977 in Book 263 at Page 430 and Amendment thereto recorded October 23, 1978 in Book 276 at Page 733 in
said records,
County of Eagle, State of Colorado
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
Land Title Association. A110--
08/20/2014 10:00:49 AM
SCHEDULE B — Section 1
Requirements
The following requirements must be met:
Commitment No.: 454- HO409973- 610 -ETO
a. Pay the agreed amounts for the interest in the land and/or for the mortgage to be insured.
b. Pay us the premiums, fees and charges for the policy.
C. Obtain a certificate of taxes due from the county treasurer or the county treasurer's authorized agent.
d. Evidence that any and all assessments for common expenses, if any, have been paid.
e. The Company will require that an Affidavit and Indemnity Agreement be completed by the party(s)
named below before the issuance of any policy of title insurance.
Party(s): William F. Pierce, Jr.
The Company reserves the right to add additional items or make further requirements after review of the
requested Affidavit.
The Company reserves the right to add additional exceptions and /or make further requirements
once the identity of the Purchaser is disclosed.
g. Deed sufficient to convey the fee simple estate or interest in the Land described or referred to herein, to
the Proposed Insured Purchaser.
h. Furnish for recordation a partial release of deed of trust:
Amount:
Trustor /Grantor:
Trustee:
Beneficiary:
Loan No.
Recording Date:
Recording No:
$392,400.00
William F. Pierce, Jr.
Public Trustee of Eagle County
Blue Sky Mortgage, LLC
0317011952
August 16, 2012
Reception No. 201216497
An assignment of the beneficial interest under said deed of trust which names:
Assignee: Great Midwest Bank, S.S.B.
Loan No.: 0317011952
Recording Date: August 16, 2012
Recording No: Reception No. 201216498
Evidence satisfactory to the Company of Compliance with an ordinance enacting a real estate transfer tax
within the Town of Vail together with all amendments thereto.
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TUFF
Land Title Association. A— CIATION
08/20/2014 10:00:49 AM
Commitment No.: 454- HO409973- 610 -ETO
24 MONTH CHAIN OF TITLE, FOR INFORMATIONAL PURPOSES ONLY:
The following vesting deeds relating to the subject property have been recorded in the Clerk and Recorder's office
of the County in which the property is located:
There are no conveyances affecting said land recorded within 24 months of the date of this report.
END OF REQUIREMENTS
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
Land Title Association. S �N
08/20/201411:29:42 AM Commitment No.: 454- HO409970- 610 -ETO
Commonwealth Land Title Insurance Company
COMMITMENT
SCHEDULE A
Commitment No: 454- HO409970- 610 -ETO
1. Effective Date: August 15, 2014 at 7:00 A.M.
2. Policy or policies to be issued:
Proposed Insured
(a) ALTA Owners Policy 6 -17 -06
To Be Determined
(b) None
Policy Amount
$0.00
$0.00
3. The estate or interest in the land described or referred to in this Commitment is:
A Fee Simple
4. Title to the estate or interest in the land is at the Effective Date vested in:
B. Saencer Blair Irrevocable Trust
5. The land referred to in this Commitment is described as follows:
See Attached Legal Description
(for informational purposes only) 1650 Fallridge Rd. #C2, Vail, CO 81657
PREMIUMS:
Owners Coverage: $100.00 - TBD
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITU
ASSOCIATION
Land Title Association.
08/20/2014 11:29:42 AM Commitment No.: 454- HO409970- 610 -ETO
Attached Legal Description
Condominium Unit C -2, Fall Ridge Condominiums, according to the Condominium Map for Fall Ridge
Condominiums, recorded January 26, 1978 in Book 266 at Page 87, and Amendment recorded October 27, 1978
in Book 277 at Page 215 in the records of the Office of the Clerk and Recorder of Eagle County, Colorado and as
defined and described in the Condominium Declaration for Fall Ridge Condominiums, recorded December 9,
1977 in Book 263 at Page 430 and Amendment thereto recorded October 23, 1978 in Book 276 at Page 733 in
said records,
County of Eagle, State of Colorado
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and
AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American
SAND TITLE
Al---
Land Title Association.
SN
08/20/2014 1:17:49 PM
SCHEDULE B — Section 1
Requirements
The following requirements must be met:
Commitment No.: 454- HO409970- 610 -ETO
a. Pay the agreed amounts for the interest in the land and/or for the mortgage to be insured.
b. Pay us the premiums, fees and charges for the policy.
C. Obtain a certificate of taxes due from the county treasurer or the county treasurer's authorized agent.
d. Evidence that any and all assessments for common expenses, if any, have been paid.
e. The Company will require that an Affidavit and Indemnity Agreement be completed by the party(s)
named below before the issuance of any policy of title insurance.
Party(s): B. Spencer Blair Irrevocable Trust
The Company reserves the right to add additional items or make further requirements after review of the
requested Affidavit.
The Company reserves the right to add additional exceptions and /or make further requirements
once the identity of the Purchaser is disclosed.
g. Deed sufficient to convey the fee simple estate or interest in the Land described or referred to herein, to
the Proposed Insured Purchaser.
h. Please be advised that our search did not disclose any open Deeds of Trust of record. If you should
have knowledge of any outstanding obligation, please contact the Title Department immediately for
further review prior to closing.
Recordation of Statement of Authority for B. Spencer Blair Irrevocable Trust pursuant to Colorado
Revised Statutes evidencing the existence of the entity and authority of the person(s) authorized to
execute and deliver instruments affecting title to real property on behalf of the entity and containing other
information required by Colorado Revised Statutes.
j. Evidence satisfactory to the Company of Compliance with an ordinance enacting a real estate transfer tax
within the Town of Vail together with all amendments thereto.
24 MONTH CHAIN OF TITLE, FOR INFORMATIONAL PURPOSES ONLY:
The following vesting deeds relating to the subject property have been recorded in the Clerk and Recorder's office
of the County in which the property is located:
Quit Claim Deed from Mervyn Lapin Revocable Trust to B. Spencer Blair Irrevocable Trust recorded December
11, 2012 at Reception No. 201224947.
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
Land Title Association. 3 �N
7 r-
08/20/2014 11:32:42 AM
END OF REQUIREMENTS
Commitment No.: 454- HO409970- 610 -ETO
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
ASSOCIATION
Land Title Association.
08/20/20141:15:09 PM Commitment No.: 454- HO410092- 610 -ETO
Commonwealth Land Title Insurance Company
COMMITMENT
SCHEDULE A
Commitment No: 454- HO410092- 610 -ETO
1. Effective Date: August 15, 2014 at 7:00 A.M.
2. Policy or policies to be issued:
Proposed Insured
(a) ALTA Owners Policy 6 -17 -06
To Be Determined
(b) None
Policy Amount
$0.00
$0.00
3. The estate or interest in the land described or referred to in this Commitment is:
A Fee Simple
4. Title to the estate or interest in the land is at the Effective Date vested in:
FRC3, LLC, a Colorado limited liability company
5. The land referred to in this Commitment is described as follows:
See Attached Legal Description
(for informational purposes only) 1650 Fallridge Rd. #C -3, Vail, CO 81657
PREMIUMS:
Owners Coverage: $100.00 - TBD
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AM E
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
ASSOCIATION
Land Title Association.
08/20/2014 11:58:28 AM Commitment No.: 454- HO410092- 610 -ETO
Attached Legal Description
Condominium Unit C -3, Fall Ridge Condominiums, according to the Condominium Map for Fall Ridge
Condominiums, recorded January 26, 1978 in Book 266 at Page 87, and Amendment recorded October 27, 1978
in Book 277 at Page 215 in the records of the Office of the Clerk and Recorder of Eagle County, Colorado and as
defined and described in the Condominium Declaration for Fall Ridge Condominiums, recorded December 9,
1977 in Book 263 at Page 430 and Amendment thereto recorded October 23, 1978 in Book 276 at Page 733 in
said records,
County of Eagle, State of Colorado
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
ASSOCIATION
Land Title Association.
08/20/201412:04:11 PM
SCHEDULE B — Section 1
Requirements
The following requirements must be met:
Commitment No.: 454- HO410092- 610 -ETO
a. Pay the agreed amounts for the interest in the land and/or for the mortgage to be insured.
b. Pay us the premiums, fees and charges for the policy.
Obtain a certificate of taxes due from the county treasurer or the county treasurer's authorized agent.
d. Evidence that any and all assessments for common expenses, if any, have been paid.
e. The Company will require that an Affidavit and Indemnity Agreement be completed by the party(s)
named below before the issuance of any policy of title insurance.
Party(s): FRC3. LLC, a Colorado limited liability company
The Company reserves the right to add additional items or make further requirements after review of the
requested Affidavit.
f. The Company reserves the right to add additional exceptions and /or make further requirements
once the identity of the Purchaser is disclosed.
g. Deed sufficient to convey the fee simple estate or interest in the Land described or referred to herein, to
the Proposed Insured Purchaser.
h. Please be advised that our search did not disclose any open Deeds of Trust of record. If you should
have knowledge of any outstanding obligation, please contact the Title Department immediately for
further review prior to closing.
Recordation of Statement of Authority for FRC3, LLC, a Colorado limited liabili , company pursuant to
Colorado Revised Statutes evidencing the existence of the entity and authority of the person(s) authorized
to execute and deliver instruments affecting title to real property on behalf of the entity and containing
other information required by Colorado Revised Statutes.
Evidence satisfactory to the Company of Compliance with an ordinance enacting a real estate transfer tax
within the Town of Vail together with all amendments thereto.
24 MONTH CHAIN OF TITLE, FOR INFORMATIONAL PURPOSES ONLY:
The following vesting deeds relating to the subject property have been recorded in the Clerk and Recorder's office
of the County in which the property is located:
Quit Claim Deed from Matthew L. King and Edith W. King to FRC3, LLC, a Colorado limited liability company
recorded December 28, 2012 at Reception No. 201226489.
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
Land Title Association. `ATION
08/20/201412:04:11 PM
END OF REQUIREMENTS
Commitment No.: 454- H0410092- 610 -ETO
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and AME
ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American LAND TITLE
Land Title Association. ASSOC -101
List of Adjacent Property Owners
Golf Course Townhomes Phase 1:
Rebecca R. R. Huffstetler, Manager
Fireside Properties, Inc.
P.O. Box 954
Vail, Co 81658
Golf Course Townhomes Phases 2, 3 and 4:
Amy Vangoey, Manager
Bold Property Management Solutions
P.O. Box 5800
Avon, CO 81620
Statement in Support of Application to Amend SDD8
Description of the Project: This Application is to amend SDD8 in order to allow the three (3)
commercial condominiums in the Fallridge Building to be converted to residential use. There
are no proposed changes to the footprint, exterior or landscaping of the building.
Back rte: The Fallridge Building is located east of Vail Village and overlooks the Vail golf
course. The Vail golf course clubhouse is situated directly to the east of the Fallridge Building.
Other than the three commercial condominiums in the Fallridge Building and the Vail golf
course facilities, the area surrounding the Fallridge Building is residential consisting of a mix of
townhomes, duplexes and single family homes. The floor area of the Fallridge Building itself is
predominately residential with 71 individually -owned residential condominium units totaling
approximately 85,000 sq. ft. and three commercial condominium units totaling approximately
5,250 sq. ft. Fallridge has an on -site, full -time front desk operation and a vigorous short-term
rental program for residential units.
The existence of the commercial space in the Fallridge Building is a vestige of a vacation club
development plan that was never realized and that included a proposed restaurant at the east end
of the building's first level. This commercially -zoned space ultimately was built out as three
individually -owned commercial condominiums known as Units C -1, C -2 and C -3. Unit C -1 is
currently owner- occupied professional offices. Units C -2 and C -3 are vacant. The commercial
condominiums have been used as professional offices over the years for various businesses and
professionals. However, this space is not in demand in Vail anymore and that is why the owners
are making this application to allow the commercial condominiums to be converted to residential
use.
There are a number of reasons why the commercial space in the Fallridge Building is not in
demand. First, the location of the commercial condominiums is difficult to find. The building is
located on a non - through street that is isolated from Vail's concentrations of commercial space in
Vail Village and along the north and south frontage roads. Second, the commercial units have no
visibility from the outside of the building. In general, it is not known that the Fallridge Building
has commercial condominiums. Third, commercial space of this size and type in Vail is not in
demand as a result of the migration of businesses down valley and the trend for professionals and
small businesses to operate without office locations. Fourth, businesses and professionals that
have or had offices in the building have indicated that it is difficult to find and keep good
employees because they prefer to work down Valley closer to where they live.
The conversion of the commercial condominiums to residential use has a number of clear
benefits. One, the values of residential units in the Fallridge Building, on a per square foot basis,
are substantially higher than that for the commercial condominiums. Thus, the new residential
condominiums can be expected to improve property tax revenues. Second, residential
condominiums represent more warm beds for the Town of Vail and they will have excellent
proximity to the newly expanded golf course facilities. The new residential condominiums can
be anticipated to participate in Fallridge's short-term rental program, as the overwhelming
majority of the residential units do, generating sales tax revenue for the Town.
Page 1 of 3
The Proposed Amendment Achieves the Applicable Special Development District Design
Criteria:
1. Compatibility: This application to allow the three commercial condominiums in the Fallridge
Building to be converted to residential use is compatible with the overwhelmingly residential use
and character of the Fallridge Building itself as well as the surrounding residential neighborhood.
It promotes a consistent and harmonious residential environment in the golf course neighborhood
as well as within the building.
2. Relationship: The proposal to allow the three commercial condominiums in the Fallridge
Building to be converted to residential use will result in a more homogeneous use in the building
as the commercial units are converted to residential use. Commercial activities in the building
and the vicinity, including commercial- condominium generated vehicle /pedestrian traffic,
employees, clients, customers, service providers, vendors and deliveries, will be reduced and
replaced by residents and guests.
3. Parking and Loading: Fallridge has a two -level fully- enclosed parking garage. The two
levels are referred to as the -1 and -2 parking levels. The Fallridge Property Manager states that
the garage has 140 parking spaces. There also is surface parking around the building that will
accommodate more vehicles. Occasionally, over -sized vehicles that will not fit in the garage
park in these areas including in the circular drive on the north side of the building and along the
driveway on the east side of the building. The original development standard was "143
underground parking spaces "; however, the Property Manager states that 12 or more years ago
three parking spaces were taken over by a maintenance shop and one parking space was taken
over for a laundry room, both in support of the building's operations. These facilities are located
on the -2 level of the garage.
Title 12 -10 -10 (Parking Requirements Schedules) requires 2 parking spaces for each of the 71
residential units in the Fallridge Building and, based on the current uses of the three commercial
condominiums (business offices), 21 spaces for the commercial condominiums. This totals 163
spaces. Fallridge's Property Manager, who has served in this capacity for 20+ years, has stated
that Fallridge does not experience parking problems and the current number of parking spaces in
the garage adequately meets the needs of the building. Even so, the proposed change of use to
residential would result in deceases in the number of parking spaces required under Chapter 10.
With the conversion of the commercial units to residential use, the number of parking spaces
required is reduced from 21 spaces for all commercial units to 6.5 spaces for three new
residential units. Also, as a practical matter, it is reasonable to conclude that actual use of
parking spaces in the Fallridge garage will be reduced when commercial condominiums are
converted to residential condominiums since there will no longer be commercial- condominium
generated vehicle /pedestrian traffic, employees, clients, customers, service providers, vendors
and deliveries. Taking into account all of the foregoing, we respectfully request a determination
that the current number of parking spaces in the Fallridge garage is sufficient for the actual level
of use in SDD8 and that the public interest is achieved.
Page 2 of 3
4. Comprehensive Plan: We believe that the proposed amendment to SDD8 is in conformity
with the applicable elements of the Vail comprehensive plan, town policies and urban design
plans. The conversion of commercial condominium units to residential use in this neighborhood
promotes the coordinated and harmonious development of the Town and, in particular, enhances
the high quality of the golf course residential area.
5. Natural and /or Geographic Hazard: Not applicable.
6. Design Features: There are no proposed changes to the site plan, building design and location
of open space of SDD8.
7. Traffic: Since residential is a less intensive use than commercial, it is reasonable to expect
that traffic (vehicle and pedestrian) at and in the vicinity of the Fallridge Building will be
reduced as a result of conversion of commercial units to residential units.
8. Landscaping: There are no proposed changes to the site plan, building design and location of
open space of SDD8.
9. Workable Plan: Not applicable.
Thank you for your consideration of this Application to amend SDD8.
Sincerely,
Matthew King
Page 3 of 3
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