HomeMy WebLinkAboutLionshead Centre Condo Association Letter of Support or Lionshead Zoning Amendment.pdfLionshead Centre Condominium Association
520 W. Lionshead Mall * Vail, CO 81657 * (970) 476-3651
Planning and Environmental Commission
Town Council
Town of Vail
75 South Frontage Road
Vail, CO 81657
Re: Lionshead Zoning Amendment
Dear Commissioners and Councilmembers:
I am writing on behalf of the Lionshead Centre Board of Directors in support of the amendment of the Lionshead Mixed
Use -1 zone district being proposed by the Treetops HOA.
The Town did a great job in 1998 when it adopted the Lionshead Redevelopment Master Plan and the zoning that
implemented the plan. The regulations put in place 20 years ago to encourage the redevelopment Lionshead were valid
back then. Those regulations were based on construction costs and the minimum density necessary to encourage a
condominium building to redevelop. The thought was that a 33% increase in density (dwelling units) would generate
sufficient revenue and profit to allow redevelopment to occur. It worked for several properties early on. Today the 33%
increase model no longer holds true.
The desire for hot beds drove most of the thinking in 1998. The Town was experiencing vacancies in condominium units
and the thought was to encourage fractional and timeshare units, which were theorized as having better occupancy
rates. The fractional or timeshare market has waned in Vail and it’s difficult to convince an existing condominium HOA
to get into the business of running a fractional or timeshare program and developers are not willing to take the risk to
build fractional or timeshare units. Something clearly needs to happen.
The good news is that with the progression of the internet and the introduction of platforms like AirBNB, HomeAway,
and VRBO condominium occupancy has increased and the short term rental market has replaced the need for fractional
and timeshare units.
It makes sense that the Town should encourage HOAs to redevelop and put as many dwelling units into a building as
reasonably fits given the dimensional and square footage standards given the new real estate realities in 2019.
Restricting the number of units almost guarantees that only larger units will be developed.
We encourage you to take the next step in the revitalization of Lionshead and allow this amendment to be approved.
Thank you for your consideration.
Sincerely,
Jeffrey Babb
Jeffrey Babb
President, Lionshead Centre Condominium Association
(970) 754-4008, jeffb@vailresorts.com