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1999-0308 PEC
TINS ITEM MAY AFFECT YOUR PROPERTY PUBLIC NOTICE NOTICE IS HEREBY GIVEN that the Planning and Environmental Commission of the Town of Vail will hold a public hearing in accordance with Section 12-3-6 of the Municipal Code of the Town of Vail on March 8, 1999, at 2:00 P.M. in the Town of Vail Municipal Building. In consideration of: A request for the establishment of Special Development District No. 36, to allow for a commercial expansion, located at 680 W. Lionshead Place/ Lot 3, Block 1, Lionshead Third Filing. Applicant: Antlers Condominium Association, represented by Robert LeVine Planner: Jeff Hunt A request for a variance from Section 12-6D-6 of the Town of Vail Municipal Code, to allow for an encroachment into required side setbacks, located at 3003 Bellflower Drive / Lot 9, Block 6, Vail Intermountain. Applicant: Mr. Guillermo Huerta Planner: George Ruther A request for a major amendment to Special Development District No. 7 (The Marriott Hotel), to allow for the construction of the Gore Creek Club and a remodel to the existing hotel, located at 714 Lionshead Circle / Marriott Mark. Applicant: HMC Acquisition Properties, Inc., represented by East-West Partners Planner: George Ruther A request for an amendment to Special Development District No. 4 (Glen Lyon), revising the Glen Lyon Office Building site (Area D), located at 1000 S. Frontage Road West/Lot 54, Glen Lyon Subdivision. Applicant: Glen Lyon Office Building Partnership, represented by Kurt Segerberg Planner: Dominic Mauriello A request for a final review of a proposed locker room expansion to the Dobson Ice Arena, located at 321 E. Lionshead Circle/Lot 1, Block 1, Vail Lionshead 2nd Filing. Applicant: Vail Recreation District Planner: George Ruther The applications and information about the proposals are available for public inspection during regular office hours in the project planner's office located at the Town of Vail Community Development Department, 75 South Frontage Road. Sign language interpretation available upon request with 24 hour notification. Please call 479- 2356, Telephone for the Hearing Impaired, for information. Community Development Department Published February 19, 1998 in the Vail Trail. WNffV PLANNING AND ENVIRONMENTAL COMMISSION PUBLIC MEETING SCHEDULE Monday, March 8, 1999 AGENDA Proiect Orientation 1 PEG LUNCH - Communitv Development Deoartment MEMBERS PRESENT Site Visits 1. Antlers-630 W. Lionshead 2. Marriot-714 W. Lionshead Circle 3. VRD-321 E. Lionshead Circle Driver: George il*N? 12:00 p.m. 1.00 P.M. MOTE: If the PEG hearing extends until 6:00 p.m., the board will break for dinner from 6:00 - 6:30 p.m. 40 Public Hearinq - Town Council Chambers 2.00 p.m. 1. A request for a variance from Section 12-6D-9 (Site Coverage) of the Town of Vail Municipal Code, to allow for site coverage in excess of 20%, located at 362 Mill Greek Circle / Lot 9, Block 1, Vail Village First Filing. Applicant: Walter Forbes, represented by Gwathmey-Pratt Architects Planner: Allison Ochs 2. A request for a worksession to discuss the establishment of Special Development District No. 36 (Antler's) , to allow for a residential expansion of 24 new condominiums, and 7 new employee housing units, located at 680 W. lionshead Place/ Lot 3, Block 1, Lionshead Third Filing. Applicant: Antlers Condominium Association, represented by Robert LeVine Planner: Jeff Hunt 3. A request for a major amendment to Special Development District No. 7 (The Marriott Hotel), to allow for the construction of the Gore Creek Club, a remodel to the existing hotel and a conditional use permit, located at 714 Lionshead Circle / Marriott Mark. Applicant: HMC Acquisition Properties, Inc., represented by East-West Partners Planner: George Ruther MEMBERS ABSENT TOWN OF VAIL ? 4. A request for a final review of a proposed locker room and loading dock expansion to the Dobson Ice Arena, located at 321 E. Lionshead Circle/Lot 1, Block 1, Vail Lionshead 2"d Filing. Applicant: Vail Recreation District Planner: George Ruther 5. A request for a variance from Section 12-6D-6 of the Town of Vail Municipal Code, to allow for an encroachment into the required side setbacks, located at 3003 Bellflower Drive / Lot 9, Block 6, Vail Intermountain. Applicant: Mr. Guillermo Huerta Planner: George Ruther TABLED UNTIL MARCH 22, 1999 6. A request for an amendment to Special Development District No. 4 (Glen Lyon), revising the Glen Lyon Office Building site (Area D), located at 1000 S. Frontage Road West/Lot 54, Glen Lyon Subdivision. Applicant: Glen Lyon Office Building Partnership, represented by Kurt Segerberg Planner: Dominic Mauriello TABLED UNTIL APRIL 26, 1999 7. Information Update Three, two-year term PEC vacancies (Greg Moffet, John Schofield and Ann Bishop) 6. Approval of February 22, 1999 minutes. The applications and information about the proposals are available for public inspection during regular office hours in the project planner's office located at the Town of Vail Community Development Department, 75 South Frontage Road. Sign language interpretation available upon request with 24 hour notification. Please call 479-2356, Telephone for the Hearing Impaired, for information. Community Development Department Published March 5, 1998 in the Vail Trail 2 4 PLANNING AND ENVIRONMENTAL COMMISSION PUBLIC MEETING SCHEDULE Monday, March 8, 1999 FINAL AGENDA Proiect Orientation / PEC LUNCH - Community Development Department MEMBERS PRESENT Greg Moffet John Schofield Galen Aasland Diane Golden Tom Weber Site Visits : 1. Antlers-680 W. Lionshead 2. Marriot-714 W. Lionshead Circle 3. VRD-321 E. Lionshead Circle Driver: George 12:00 p.m. 1:00 P.M. NOTE: If the PEC hearing extends until 6:00 p.m., the board will break for dinner from 6:00 - 6:30 p.m. Public Hearinq. - Town Council Chambers 2:00 p.m. 1. A request for a worksession to discuss the establishment of Special Development District No. 36 (Antler's) , to allow for a residential expansion of 24 new condominiums, and 7 new employee housing units, located at 680 W. lionshead Place/ Lot 3, Block 1, Lionshead Third Filing. Applicant: Antlers Condominium Association, represented by Robert l..e1Jne Planner: Jeff Hunt WORKSESSION -- NO VOTE 2. A request for a major amendment to Special Development District No. 7 (The Marriott Hotel) and a conditional use permit, to allow for the construction of the Gore Creek Club and a remodel to the existing hotel, located at 714 Lionshead Circle / Marriott Mark. Applicant: HMC Acquisition Properties, Inc., represented by East-Vilest Partners Planner: George Ruther 7Y?WN/t9 MEMBERS ABSENT Ann Bishop Brian Doyon 1 CONDITIONAL USE PERMI'T': MOTION: Galen Aasland SECOND: John Schofield VOTE: 5-0 APPROVED MAJOR AMENDMENT: MOTION: John Schofield SECOND: Tom Weber VOTE: 5-0 RECOMMEND TO TOWN COUNCIL WITH 13 amended CONDITIONS (playa 1 recommendation): That the applicant submit the following plans to the Department of Community Development, for review and approval, as a part of the building permit application for the hotel: a. An Erosion Control and Sedimentation Plan; b. A Construction Staging and Phasing Plan; C. A Stormwater Management Plan; and d. A Traffic Control Plan. 2. That the applicant provide six deed-restricted housing units with no less than 10 pillows, with a 24 - hour desk or manager ehu on-site, which complies with the Town of Vail Employee Housing requirements (Chapter 12-13), for a minimum of 10 employees, and that said deed-restricted housing be made available for occupancy, and the deed restrictions recorded with the Eagle County Clerk & Recorder, prior to requesting a Temporary Certificate of Occupancy for the Gore Creek Club. 3. That the applicant appear before the Design Review Board for a conceptual review of the proposed improvements prior to appearing before the Vail Town Council for consideration of an ordinance amending the Special Development District and receive final Design Review Board approval of the proposed improvements, prior to application for a building permit. 4. That the applicant redesign the proposed loading/delivery plan to insure that service and delivery vehicles do not block or impede pedestrian and vehicle traffic. 5. That the applicant redesign the proposed plans for the Gore Creek Club to provide a minimum of one off-street loading/delivery berth in the alley with the easement deed-restricted and recorded on the plat so the Gore Creek Club can operate as a free-standing facility. 6. That the applicant submit a complete set of civil engineered drawings of all the off-site improvements, including improvements to West Lionshead Circle, the sidewalk from the common property line with Antler's to the South Frontage Road, for the required on-site and off-site storm water drainage and management system, for the pedestrian connection to the streamwalk, for review and approval, prior to application for a building permit. 7. That the applicant submit to the Community Development Department an approval letter from the owner of Lot A to the west of the Gore Creek Club development site granting permission to regrade portions of Lot A as depicted on the proposed plans. A 2 r 3. That the applicant revise the plans to eliminate any off-site encroachments of the building on the Town of Vail right-of-way, prior to an appearance before the Design Review Board. 9. That the applicant meet with the Town Staff to prepare a letter of agreement outlining the requirements of the off-site improvements, prior to first reading of an ordinance approving the major amendment. 10. That the new sidewalk along the south side of West Lionshead Circle be snowmelted only contiguous to the applicant's property. 11. That the applicant amend the proposed landscape plan and provide increased amount of landscaping, using AIPP opportunities to integrate functional art pieces, at the front entrance to the Gore Creek Club and the retail shops and that it be approved by the DRR. 12. That the applicant submit a proposed streambank improvement plan to the Community Development Department for review and approval prior to application for a building permit. 13. That the applicant submit complete set of plans to the Town of Hail Colorado Department of Transportation for review and that before a final reading with the Town Council, the applicant enter into a Frontage Road agreement and approval of a left turn lane off of the South Frontage Road onto West Lionshead Circle. The plans shall by approved by CDOT prior to application for a building permit. Recommendation: That the PEC recommends to the DRB that the applicant use some other shingle than asphalt. 3. A request for a final review of a proposed locker room and loading dock expansion to the Dobson Ice Arena, located at 321 E. Lionshead Circle/Lot 1, Block 1, Vail Lionshead 2nd Filing. Applicant: Vail Recreation District Planner: George Ruther TABLED UNTIL MARCH 22, 1999 4. A request for a variance from Section 12-6D-9 (Site Coverage) of the Town of Vail Municipal Code, to allow for site coverage in excess of 20%, located at 362 Mill Creek Circle / Lot 9, Block 1, Vail Village First Filing. Applicant; Walter Forbes, represented by Gwathmey-Pratt Architects Planner: Allison Ochs TABLED UNTIL MARCH 22,1999 3 6. A request for an amendment to Special Development District No. 4 (Glen Lyon), revising the Glen Lyon Office Building site (Area D), located at 1000 S. Frontage Road West/Lot 54, Glen Lyon Subdivision. Applicant; Glen Lyon Office Building Partnership, represented by Kurt Segerberg Planner; Dominic Mauriello TABLED UNTIL. APRIL. 26, 1999 7. Information Update Three, two-year term PPG vacancies (Greg Moffet, John Schofield and Ann Bishop) 8. Approval of February 22, 1999 minutes. The applications and information about the proposals are available for public inspection during regular office hours in the project planner's office located at the Town of Vail Community Development Department, 75 South Frontage Road. Sign language interpretation available upon request with 24 hour notification. Please call 4792356, Telephone for the Hearing Impaired, for information. Community Development Department A 4 MEMORANDUM TO: Planning and Environmental Commission PROM: Community Development Department DATE: March 8, 1999 SUBJECT: A request for a worksession of a major exterior alteration in CC2 and the establishment of a Special Development District for the Antlers at Vail, located at 680 W. Lionshead PL/ Lot 3, Block 1, Vail Lionshead 4th Filing. Applicant: Antlers Condominium Association, represented by Robert Levine Planner: Jeff Hunt 1. DESCRIPTION OF THE REQUEST Attached is preliminary proposal by the Antlers Condominium Association. The applicant is seeking input from the PEC regarding a potential Special Development District and major exterior alteration applications for the Antlers property. The applicant is proposing major exterior alterations to the existing Antlers building, expansion of the building, and to establish a Special Development District for the property. The property is currently zoned Commercial Core 2 (CC2). The applicant made a previous presentation before the PEC on July 13, 1998. The applicant will be making a second presentation to the PEC and is hoping to gain added insight about the direction they are heading. Also, staff requests the PEC to give direction on a number of discussion issues that have been identified, thus far; see below. At the time of this memo, a complete review by Town staff has not been completed. A full analysis of the project will be presented to the PEC at a future meeting. 11. COMPARISON OF EXISTING AND PROPOSED FACILITIES Existing Units: 70 condos 2 EHU's GRPA: 52,640 sf Site Coverage: 8,971 sf Parking: 89 spaces Proposed Additional Units: 24 condos 7 EHU's GRPA: 34,950 sf Site Coverage: 12,012 sf Parking: 25 TOWNDFYAI'? Vii' III. DISCUSSION ISSUES The proposal appears to comply with most zoning provisions such as density, GRFA, and site coverage. However, the following issues have been noted: Setbacks: The Zoning Code requires a 10' setback. The proposed addition has about a 5' setback along the west wall and at a point along the northwest property line. The existing parking structure is about 7' from the northwest line. Staff is seeking direction as to the acceptability of a reduced setback in this area. 2. Parking: A. The Zoning Code requires parking spaces be 9'x 19' except that 25% may be compact spaces which are allowed to be 8'x 18'. The proposal includes 8 "sub- compact spaces" which are only 14'4" deep. S. The 8 employee parking spaces are stacked behind owners' spaces. C, The Zoning Code requires an additional 59 spaces for the new units. The proposal is for 25 additional spaces. The existing facility is already deficient by 54 spaces. Staff recognizes that the proposal does not meet our parking requirements. However, based on the nature of the use, shuttle service in the village, and the location of Antlers in relation to the core area, the use may likely generate less need for parking. 3. Landscaping: The CC2 Zone requires 20% of the site be landscaped. The applicant argues that the site is about 20% landscaped and that additional land off the property boundaries is also maintained by the Antlers. Staff has concerns that the proposal is well below the 20% on site requirement. 5. Leading: The proposal includes a loading berth within designated parking spaces in the garage, and within a handicapped parking space in the plaza. Staff believes that the one required loading space should be designated in the plaza and not in the garage due to height needs for such vehicles. 6. Swimming Pool: A. The existing swimming pool is on Town property and is not being proposed for relocation. Staff believes there are alternative locations available and that a remodel of this size should address the pool. 2 If it is determined that the pool should remain, staff recommends that a lease be established with the Town for this improvement. B. The deck of the existing swimming pool overhangs the bike/ped path and is not being proposed for modification. This creates a conflict with pedestrians and bicyclists. Staff believes this issue should be corrected by the applicant as part of this proposal. 7. Architectural Character: The applicant has submitted renderings of the proposed architecture for both the existing building and the addition. Staff has concerns that the proposed architecture does not meet the standards of the recently adopted Lionshead Master Plan, including a lack of: stepbacks, variation of materials, sloped roofs, dormers and articulation of walls. Also, the proposal contains repetitive balconies. The applicant received direction on architectural quality from both the DRB and the PEC. The applicant did make modifications to the design, but staff believes the changes are minor and do not fully address the concerns raised by the DRB and the PEC. IV. REVIEW CRITERIA FOR THIS REQUEST 41 Title12, Chapter 9 of the Town of Vail Municipal Code provides for the establishment of Special Development Districts in the Town of Vail. According to Section 12-9A-1, the purpose of a Special Development District is, The Municipal Code provides nine design criteria, which shall be used as the principal criteria in evaluating the merits of the proposed Special Development District. It shall be the burden of the applicant to demonstrate that submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is not applicable, or that a practical solution consistent with the public interest has been achieved. This criteria is provided for your information. Staff will fully evaluate these criteria upon final plan development. C7 3 A. Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. B. Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. C. Compliance with parking and loading requirements as outlined in Title 12, Chapter 10, of the Town of Vail Municipal Code. D. Conformity with the applicable elements of the Bail Comprehensive Plan, Town policies and Urban Design Plan. Vail Land Use Plan The goals contained in the Vail Land Use Flan are to be used as the Town's policy guidelines during the review process of establishing or amending Special Development Districts. Staff has reviewed the Vail Land Use flan and believes the following policies are relevant to the review of this proposal: 1. General Growth/Development 1.1 Vail should continue to grow in a controlled environment, maintaining a balance between residential, commercial and recreational uses to serve both the visitor and the permanent resident. 1.2 The quality of the environment including air, water, and other natural resources should be protected as the Town grows. 1.3 The quality of development should be maintained and upgrade whenever possible. 1.12 Vail should accommodate most of the additional growth in existing developed areas (infill). 4. Residential 5.3 Affordable employee housing should be made available through private efforts, assisted by limited incentives, provided by the Town of Vail, with appropriate restrictions. 5.4 Residential growth should keep pace with the market place demands for a full range of housing types. 5.5 The existing employee housing base should be preserved and upgraded. Additional employee housing needs should be accommodated at varied sites throughout the community. 4 E. Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. F. Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. G. A circulation system designed for both vehicles and pedestrians addressing on and off-site traffic circulation. H. Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and functions. 1. Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. F:\EVERYONE\PEC\MEMOS\99\ANT E-WS E 11 5 MEMORANDUM TO: Planning and Environmental Commission FROM: Department of Community Development DATE: March 8, 1999 SUBJECT: A request for a final review of a major amendment to Special Development District No. 7, Marriott's Mountain Resort at Vail and a conditional use permit to allow for a hotel redevelopment and the construction of the Gore Creek Club, located at 714 West Lionshead Circle/Lots 4 & 7, Block 1, Vail Lionshead 3r? Filing and Lots C & D, Marcus Subdivision. Applicant: HMC Acquisition Properties, & Schultz Architects, P.C. Planner: George Ruther Inc., represented by Gwathmey, Pratt Executive Summarv E The Community Development Department is recommending approval of the applicant's proposal to amend Special Development District #7 Staff's review of the criteria to amend the Special Development District is outlined and discussed in Section IV of this memorandum. As stated in Section IV, staff believes that the proposed amendment complies with the development objectives of the Town and the Lionshead Redevelopment Master Plan. Several concerns of staff, however, are the adequacy of the loading and delivery facilities, the need for a left turn lane on the South Frontage Road and the number of employee housing units being proposed by the applicant. Careful consideration should be given to these unresolved aspects of the plan during the review process. The Community Development Department is also recommending approval of the requested Conditional Use Permit to construct and operate an interval ownership club in the High Density Multi-family Zone District. Staff's review of the criteria and necessary findings can be found in Section V of this memorandum. As discussed in greater detail in the memorandum, staff's primary concerns with the proposed Gore Creek Club are the lack of adequate loading/delivery facilities to operate the club as astand alone facility, the absence of any major streetscape landscaping at the entrance to the property and the need to pull those portions of the building on or over the property line back to eliminate any off site encroachments. Staff is confident that these issues can be resolved and has recommended that their resolution be conditions of approval. A Zoning Analysis is provided in Section Ill of the memorandum. The analysis provides a comparison of the proposed development standards of the project to the standards prescribed by the underlying zone districts and the proposed Lionshead Mixed Use Zone District. Staff believes that the deviations proposed are both reasonable and appropriate as they promote the goals of the Town of Vail and the master plan documents. Overall, staff believes the proposed redevelopment of the Marriott and the construction of the Gore Creek Club will be amenities to the Town of Vail. F:\everyone\pec\memos\99\MarrioU1 1 1. DESCRIPTION OF THE REQUESTS The applicant, HMC Acquisition Properties, Inc., represented by Henry Pratt of Gwathmey, Pratt & Schultz Architects, is proposing a major amendment to Special Development District No. 7, Marriott's Mountain Resort at Vail. The major amendment is intended to facilitate the redevelopment and remodel of the existing Marriott Hotel and the construction of thenew Gore Creek Club. The redevelopment and remodel of the existing Marriott Hotel is intended to compliment the interior renovations recently completed in the hotel. The applicant is proposing to "re-skin" the exterior of the hotel, convert "Windows" restaurant to four condominiums (6,625 sq.ft.) and convert existing ski storage/retail to Type III Employee Housing Units. The proposed remodel is intended to bring the existing hotel building into compliance with the design guidelines prescribed by the recently adopted Lionshead Redevelopment Master Plan and increase the overall quality of the hotel. The applicant is also requesting a conditional use permit pursuant to Chapter 16 of the Zoning Regulations to allow for 66 interval ownership units in the Gore Creek Club. The new club will be constructed in Phase III of the Marriott development area atop the existing parking structure. The club will be comprised of 66 lodging-type of units totaling approximately 73,000 square feet of GRFA. As an interval ownership club, the 66 units will be sold in 1/20th intervals. 1/20th intervals guarantees each owner approximately 17 days per year in the Vail Valley. The applicant anticipates offering owners the opportunity to exchange their club unit within the international exchange market. Other components of the new club include a full-time front desk for registration and reservations, an owner's lounge, a health club & spa facility, on-site laundry services and a 61 parking space expansion to the existing parking structure. The 61 new spaces are intended to offset the increase in parking demand created by the construction of the new club. Approximately 1,912 square feet of retail space will be constructed on the north side of the club adjacent to West Lionshead Circle. A copy of the proposed interval ownership program is attached for reference. In addition to the improvements to the existing hotel and the construction of the new club, the applicant is also proposing site improvements to the property. Proposed site improvements include the removal of an existing landscape berm on the south side of the property to provide easy access to the creek and bike path, new landscaping on the south side of the hotel, a redesign of the existing loading and delivery area and the implementation of the recommended streetscape improvements along the south side of West Lionshead Circle. According to the Town of Vail Municipal Code, it shall be the burden of the applicant to demonstrate that any deviation from the development standards of the underlying zoning provide public benefits that outweigh the adverse effect of said deviation. The applicant has identified the public benefits the community will realize as a result of the redevelopment of the Vail Village Inn site. The public benefits identified by the applicant include. 1. An increase in the annual hotel occupancy rate through the redevelopment of an older, existing hotel. 2. A significant increase in the Town's supply of short-term, overnight accommodations to serve our guests and visitors. F:\evMone\pec\memos\99\Marrioti1 0 3. The creation of a commercial/retail space along West Lionshead Circle. 0 4. The implementation of the Town of Vail Streetscape Master Plan along West Lionshead Circle. 5. The construction of a world-class "anchor" hotel providing a high-level of guest service. 6. The implementation of the objectives stated in the Lionshead Redevelopment Master Plan. 7. The construction of employee housing to off-set the demand resulting from the redevelopment of the hotel project. 6. A sizeable annual contribution to the Town's sales tax revenue. 9. The partial elimination of an existing on-street loading and delivery area. III. BACKGROUND The establishment of Special Development District No.7, the Marriott Vail Mountain Resort, was approved by Ordinance No. 3, Series of 1976, by the Vail Town Council. The expressed purpose for establishing SDD No. 7 was to allow for an increase in density beyond what was otherwise permitted by the underlying zoning of Public Accommodation and High Density Multi-Family. Public benefits realized since the approval of SDD No. 7 have been an increase in short-term rental units available to visitors of Vail and an increase in summer visitation due to the construction of a convention facility within the Marriott Vail Mountain Resort. Special Development District No. 7 has been amended since its establishment in 1976. The most recent amendment was in September of 1995. Ordinance No. 17, Series of 1995 permitted the conversion of seventeen dwelling units within the hotel to accommodation units and required that at least 294 parking spaces be provided in the structure. A building permit was issued by the Community Development Department and the dwelling units were converted and the parking structure was re-striped to accommodate 294 parking spaces. The existing Marriott is a mixed use development. The current uses on the site include 14 dwelling units and approximately 320 hotel rooms, a restaurant and bar, convention and meeting room facilities and a minimal amount of retail/commercial space. According to the Official Town of Vail Zoning Map, the applicant's property is zoned Special Development District No. 7. The underlying zoning for SDD No. 7 is both Public Accommodation and High Density Multi-family. Tract 1 (the parking structure site) is zoned High Density Multi- family and Tract 2 (the existing hotel) of the SDD is zoned Public Accommodation. Pursuant to the Town of Vail Municipal Code, the Public Accommodation Zone district is intended, " to provide sites for lodges and residential accommodations for visitors, together with such public and semipublic facilities and limited professional offices, medical facilities, private recreation, and related visitor oriented uses as may appropriately be located in the same district. The Public Accommodation District is intended to ensure adequate light, air, open space, and other amenities commensurate with lodge uses, and to maintain the desirable resort qualities of the District by F:\everyone\pec\memos\99\Marriott1 3 establishing appropriate site development standards. Additional nonresidential uses are permitted as conditional uses which enhance the nature of Vail as a winter and summer recreation and vacation community, and where permitted are intended to function compatibly with the high density lodging character of the District. The Public Accommodation District is intended to provide sites for lodging units at densities not to exceed twenty five (25) dwelling units per acre.,, The High Density Multi-family Zone District is intended, "is intended to provide sites for multiple-family dwellings at densities to a maximum of twenty five (25) dwelling units per acre, together with such public and semi-public facilities and lodges, private recreation facilities and related visitor-oriented uses as may appropriately be located in the same district. The High Density Multiple-Family District is intended to ensure adequate light, air, open space, and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the District by establishing appropriate site development standards. Certain nonresidential uses are permitted as conditional uses, which relate to the nature of Vail as a winter and summer recreation and vacation community and, where permitted, are intended to blend harmoniously with the residential character of the District." According to Section 12-6H-3, Conditional Uses, time share units shall be permitted in the High Density Multi-family Zone District, subject to the issuance of a conditional use permit in accordance with the provisions of Chapter, 16 of the Zoning Regulations. Pursuant to Section 12-16-1 of the Zoning Regulations, the purpose of a conditional use permit is, 0 "in order to provide the flexibility necessary to achieve the objectives of this Title, specified uses are permitted in certain districts subject to the granting of a conditional use permit. Because of their unusual or special characteristics, conditional uses require review and evaluation so that they may be located properly with respect to the purposes of this Title and with respect to their effects on surrounding properties. The review process prescribed in this Chapter is intended to assure compatibility and harmonious development between conditional uses and surrounding properties and the Town at large. Uses listed as conditional uses in the various districts may be permitted subject to such conditions and limitations as the Town may prescribe to ensure that the location and operation of the conditional uses will be in accordance with development objectives of the Town and will not be detrimental to other uses or properties. Where conditions cannot be devised to achieve these objectives, applications for conditional use permits shall be denied." Ill. ZONING ANALYSIS The development standards for a Special Development District shall be proposed by the applicant. Development standards including lot area, site dimensions, setbacks, height, density control, site coverage, landscaping and parking and loading shall be determined by the Town Council as part of the approved development plan, with consideration of the recommendations of F:\everyone\pec\memos\99\Marriott1 0 the Planning and Environmental Commission. Before the Town Council approves development standards that deviate'from the underlvino zone district. it shall be determined that such deviations provide benefits to the Town that outweioh the effects of such deviations. This determination is to be made based coon the evaluation of the orooosed Special Develooment district's compliance with the Review Criteria outlined in the following section. In addition, the staff has evaluated the project for compliance with the Lionshead Redevelopment Master Plan. The development area is within the overall study area of the Plan which is discussed in detail in Chapter 4. The Community Development Department staff has prepared a Zoning Analysis for the Gore Creek Club and the proposed remodel to the existing hotel. The Zoning Analysis compares the development standards outlined by the underlying zoning of Public Accommodation and High Density Multifamily to the applicant's proposed major amendment. The proposed deviations from the development standards of the underlying zoning are indicated in BOLD. Marriott Hotel Zoning: Public Accommodation Lot size: 3.5 acres or 152,666 sq. ft. Development Underlying Zoning Standard of Public Accommodation taRFA: 80% or 122,132 sq. ft. Dwelling units per acre: 25 du/acre Site coverage: 55% or 83,966 sq. ft. Setbacks: front: 20' sides: 20' rear: 20' Height: 48' sloping Parking: per T.O.V. Code Section Loading: per T.O.V. Code Section 12-10-13 1999 Major 5DD Proposed Amendment proposal Lionshead Zoning 89% or 137,147 sq. ft. 80% or 122,132 sq. ft. 52 du/acre 35 du/acre 56 % or 83,997 sq. ft. 70% or 106,866 sq. ft. per the development plan 10' 122,83' sloping 294 parking spaces three berths on-site Average 71' (82.5 max.) per T.O.V. Code Section per T.O.V. Code Section 12-10-13 0 F:\everyone\pec\memos\99\Marriottl GORE CREEK CLUB Zoning: High Density Multi-family Lot size:1.58 acres or 68,861 sq.ft. Development Underlying Zoning 1999 Major SDD Proposed Standard of High Density Multi-family Amendment proposal Lionshead Zoning GRFA: 80% or 55,089 sq. ft. 105 % or 72,395 sq. ft. 250% or 172,153 sq. ft. Dwelling units per acre: 25 du/acre 42 du/acre 35 du/acre Site coverage: 55% or 37,873 sq. ft. 67 % or 46,245 sq. ft. 70% or 48,203 sq. ft. Setbacks: front: 20' per the development 10' sides: 20' plan rear: 20' Height: 48' sloping 71' average Average 71' per the Lionshead (82.5' max.) Redevelopment Master Plan Parking: per T.O.V. Code Section 61 parking spaces per T.O.V. Code Section Loading: per T.O.V. Code Section no loading/delivery per T.O.V. Code Section 12-10-13 berths on-site 12-10-13 MAJOR AMENDMENT PROCESS IV. THE SPECIAL DEVELOPMENT DISTRICT Chapter 12-9 of the Town of Vail Municipal Code provides for the amendment of existing Special Development Districts in the Town of Vail. According to Section 12-9A-1, the purpose of a 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 within 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 Mail Comprehensive Plan. An approved development plan for a Special Development District, in conjunction with the properties underlying zone district, shall establish the requirements for guiding development and uses of property included in the Special Development District." According to Section 12-9A-2, a major amendment to a Special Development District is defined as, F:leveryone\pec\rnemos199Wlarriott1 0 "Any proposal to change uses, increase gross residential floor area; change the 40 number of dwelling or accommodation units; modify, enlarge or expand any approved special development district (other than "minor amendments" as defined in this Section), except as provided under Sections 12-15-4, "Interior Conversions", or 12-15-5, "Gross Residential Floor Area (250 Ordinance)" of this Title." The Municipal Code provides a framework for the amendment of an established Special Development District. According to the Municipal Code, prior to site preparation, building construction, or other improvements to land within a Special Development District, there shall be an approved development plan for the Special Development District. The approved development plan establishes requirements regulating development, uses and activity within the Special Development District. Upon final review of a proposed major amendment of an existing Special Development District, a report from the Planning and Environmental Commission stating its findings and recommendations and a staff report shall be forwarded to the Town Council, in accordance with the provisions listed in Section 12-16-6 of the Municipal Code. The Town Council's consideration of the Special Development District shall be in accordance with the provisions of the Municipal Code and approved by two readings of an ordinance. An approved development plan is the principal document in guiding the development, uses and activities of the Special Development District. The development plan shall contain all relevant material and information necessary to establish the parameters with which the Special Development District shall adhere. The development plan may consist of, but not be limited to, the approved site plan, floor plans, building sections and elevations, vicinity plan, parking plan, preliminary open space/landscape plan, densities and permitted, conditional and accessory uses. The determination of permitted, conditional and accessory uses shall be made by the Planning and Environmental Commission and Town Council as part of the formal review of the proposed development plan. Unless further restricted through the review of the proposed Special Development District, permitted, conditional and accessory uses shall be limited to those permitted, conditional and accessory uses in the property's underlying zone district. The Municipal Code provides nine design criteria, which shall be used as the principal criteria in evaluating the merits of the proposed major amendment to a Special Development District. It shall be the burden of the applicant to demonstrate that submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is not applicable, or that a practical solution consistent with the public interest has been achieved. The staff has addressed each of the nine SDD review criteria below: A. Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. The proposed redevelopment of the exterior of the Marriott Mountain Resort at Vail and the Gore Creek Club are consistent with the redevelopment objectives outlined in the recently adopted Lionshead Redevelopment Master Plan. The exterior building materials of the Marriott Hotel are a mixture of stone, stucco and wood. The roof material is proposed to be asphalt shingles. Stone will be used around the base of the building. The applicant has proposed that the exterior stucco color be an off-white. Staff believes that the combination of building materials proposed has been well incorporated into the design of the Marriott Hotel. F:\evMone\pec\memos\99\Marriott1 7 The exterior building materials of the Gore Creek Club are also a mixture of stone, stucco and wood. The roof material will be asphalt shingles. The Town of Vail Design Review Board will have the opportunity to review the building exteriors prior to final approval of the hotel and new club. The height of the hotel exceeds the allowable building height of the Public Accommodation Zone District by approximately 75 feet. The development standards for the underlying zone district indicate that the maximum height for buildings with sloping roofs shall be 48 feet. The height of the existing building is 85 feet. The applicant is requesting that the maximum building height for the Marriott Hotel be approximately 123 feet tall, to accommodate the two towers, which are intended to break up the mass of the structure. The height of the Core Creek Club exceeds the height limitation prescribed for the High density Multi-family Zone District. The maximum allowable height per the zoning regulations is 48 feet. The applicant is proposing a maximum building height of 82.5 feet. The average height of the building, as measured along the primary roof forms is less than 71 feet. The proposed height is consistent with height considerations outlined in the Lionshead Redevelopment Master Plan. Staff believes that the proposed height of each of the buildings is reasonable and appropriate. B. Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. The existing Marriott Hotel and the proposed Core Creek Club are bordered to the north by the Vail Spa Condominiums and the Enzian Condominiums, to the south by the Gore Creek stream corridor and Primary/Secondary Residential development, to the west by a vacant development site currently used for surface parking and to the east by the Antler's Condominiums, the Montaneros Condominiums and the commercial spaces in the Concert Hall Plaza Building. The applicant is proposing a mixed-use development that is in compliance with the uses allowed in the underlying zone districts. The underlying zoning of Public Accommodation and High Density Multi-family encourages the development of lodges (accommodation units) and accessory eating, drinking and retail establishments. The interval ownership component of the Core Creek Club is allowed in the High Density Multi-family Zone District subject to the issuance of a conditional use permit. A complete staff review of the conditional use permit criteria can be found in Section V of this memorandum. The proposed uses comply with the proposed zoning for Lionshead and the Lionshead Redevelopment Master Plan. mglo Yee Housino Reouirements As indicated in a number of the goals and objectives of the Town's Master Plans, providing affordable housing for employees is a critical issue which should be addressed through the planning process for Special Development District proposals. In reviewing the proposal for employee housing needs, staff relied on the Town of Vail Employee Housing Report. This report has been used by the staff in the past to evaluate employee housing needs. The guidelines contained within the report were used most recently in the review of the Austria Haus development proposal. The Employee Housing Report, was prepared for the Town by the consulting firm Rosall, Remmen and Cares. The report provides the recommended ranges of employee housing units needed based on the type of use and the amount of floor area dedicated to each F:\eve:ryone\pec\memos\99NMarriott1 use. Utilizing the guidelines prescribed in the Employee Housing Report, the staff analyzed the incremental increase of employees (square footage per use), that result from the redevelopment. A copy of the Suaaested Emolovment Cateaories and Ranaes for Vail Exaressed as Employees oer 1000 Sauare Feet has been attached for reference. v a) b) a) b) The figures identified in the Housing Report are based on surveys of commercial-use employment needs of the Town of Vail and other mountain resort communities. For comparison purposes, Telluride, Aspen and Whistler B.C. all have "employment generation" ordinances requiring developers to provide affordable housing for a percentage of the "new" employees resulting from commercial development. "New" employees are defined as the incremental increase in employment needs resulting from commercial redevelopment. Each of the communities assesses a different percentage of affordable housing a developer must provide for the "new" employees. For example, Telluride requires developers to provide housing for 40% (0.40) of the "new" employees, Aspen requires that 60% (0.60) of the "new" employees are provided housing and Whistler requires that 100% (1.00) of the "new" employees be provided housing by the developer. In comparison, Vail has conservatively determined that developers shall provide housing for 15% (0.15) or 30% (0.30) of the "new" employees resulting from commercial development. When a project is proposed to exceed the density allowed by the underlying zone district, the 30% (0.30) figure is used in the calculation. If a project is proposed at, or below, the density allowed by the underlying zone district, the 15% (0.15) figure is used. The Marriott special development district major amendment proposal exceeds the density permitted by the underlying zone district, and therefore, the 30% figure shall be used. EMPLOYEE HOUSING GENERATION ANALYSIS, The staff analysis below indicates the top, the middle and the bottom of the ranges recommended by the Town of Vail Employee Housing Report, as well as a staff recommended figure which was used in determining the employee housing needs of the Gore Creek Club. A summary of the Employee Housing Generation Analysis is as follows: Bottom of Range Calculations: Retail/Service Commercial =1,912 sq. ft. @(5/1000 sq. ft.) = 9.56 employees Multi Family (Club Units) =66 units @a (.4/unit) =26.40 employees Total Employees 35.96 = employees (X 0.30 multiplier) 10.73 = new employees Middle of Range Calculations: Retail/Service Commercial Multi Family (Club Units) = 1,912 sq. ft. @(6.5/1000 sq. ft.) = 12.43 employees = 66 units ??a (.4/unit) = 26.40 employees Total Employees = 38.33 employees (X 0.30 multiplier) =11.65 new employees C. Top of Range Calculations: a) Retail/Service Commercial = 1,912 sq. ft. @(8/1000 sq. ft.) = 15.30 employees is b) Multi Family (Club Units) = 66 units @(.4/unit) = 26.40 employees Total Employees = 41.70 employees (X 0.30 multiplier) =12.51 new employees Staff Recommended Ranae Calculations: The staff believes that the Core Creek Club will create a need for 36 additional employees. Of the 36 additional employees, at least 11(10.78) employees (30%) will need to be provided deed- restricted housing by the developers of the Marriott. The staff recommended range is based on: the type of retail and commercial use proposed in the commercial space within the Gore Creek Club; 2. the size of the Core Creek Club lodging component; 3. the result of research completed by Town of Vail staff of similar hotel operations in the Vail Valley. a) Retail/Service Commercial = 1,912 sq. ft. @(5/1000 sq. ft.) = 9.56 employees (bottom of range) b) Multi Family (Club Units) =66 units @(.4/unit) = 26.40 employees (range does not vary) ------------------------------------ Totai = 35.96 employees (X 0.30 multiplier) = 10,78 new employees 'Lodging has a particularly large variation of employees per room, depending upon factors such as size of facility and level of service/support services and amenities provided. Depending upon the size of the employee housing unit provided, it is possible to have up to two employees per bedroom. For example, a two-bedroom unit in the size range of 450 - 900 square feet, is possible of accommodating three to four employees. These figures are consistent with the requirements for the Type III employee housing units outlined in the Municipal Code. The applicant has proposed to provide a minimum of six employee housing units. The units would be deed-restricted as Type III ehu's and located on the garden level of the Marriott Hotel. Of the six units, four would be one bedroom units and two would be studio units. The applicant is proposing two employees in each of the one bedroom units and one employee in each of the studio units. A total of ten employees would be provided housing. Overall, staff believes that the density and uses proposed by the applicant for the Marriott and the Gore Creek Club do not conflict with the compatibility, efficiency or workability of the surrounding uses and/or activities. • 10 C. Compliance with parking and loading requirements as outlined in Chapter 12-+10 of the Town of Vail Municipal Code. Parking and loading requirements for development are established in Chapter 12-10 of the Municipal Code. The parking and loading requirements are based on the square footage of the uses proposed within a building. The applicant is proposing a total of three loading/delivery berths. The loading/delivery area is existing on the north side of the hotel and has been redesigned to accommodate three trucks. This area can handle trucks up to 50-feet in length. Additionally, an on- street loading and delivery area has been reduced in size to help alleviate conflicts with cars and buses. The on-street space is intended only for temporary, short-term parking should the three on site spaces be occupied. Another loading/delivery area is located on the west side of the hotel between the hotel and the Gore Creek Club. This area is intended only for use of the conference space inside the hotel. It is not designed to accommodate deliveries to the hotel. No loading/delivery area has been provided for the use of the Gore Creek Club. The staff has reviewed the proposed loading/delivery plan. Upon review of the plan we believe the proposal does not meet the minimum standards for loading/delivery for the hotel and the new club. While we understand that the applicant is limited by the existing configuration and layout of the hotel, we believe it is necessary for the loading/delivery situation to be resolved with this redevelopment proposal. According to the loading/delivery standards outlined in the Municipal Code, a minimum of five berths are required. At a minimum, loading/delivery needs to be provided in a realistic manner for the Gore Creek Club. Should the Gore Creek Club ever become a stand alone building from the Marriott, minimum standards would not be met. D. Conformity with the applicable elements of the Vail Comprehensive Plan, Town. policies and Urban Design Plan. Vail Land Use Plan The goals contained in the Vail Land Use Plan are to be used as the Town's policy guidelines during the review process for a major amendment to an existing special development district. Staff has reviewed the Vail Land Use Plan and believes the following policies are relevant to the review of this proposal: 1. General Growth/Develooment 1.1 Vail should continue to grow in a controlled environment, maintaining a balance between residential, commercial and recreational uses to serve both the visitor and the permanent resident. 1.2 The quality of the environment including air, water, and other natural resources should be protected as the Town grows. 1.3 The quality of development should be maintained and upgrade whenever possible. 1.12 Vail should accommodate most of the additional growth in existing developed areas (infill). 11 3. Commercial 3.1 The hotel bed base should be preserved and used more efficiently. 3.2 The Village and Lionshead are the best location for hotels to serve the future needs of the destination skier. 3.3 Hotels are important to the continued success of the Town of Vail, therefore conversion to condominiums should be discouraged. 3.4 Commercial growth should be concentrated in existing commercial areas to accommodate both local and visitor needs. 4. Villaoe Core/Lionshead 4.1 Future commercial development should continue to occur primarily in existing commercial areas. Future commercial development in the Core areas needs to be carefully controlled to facilitate access and delivery. 4.2 Increased density in the Core areas is acceptable so long as the existing character of each area is preserved through the implementation of the Urban Design Guide Plan and the Vail Village Faster Plan. 5, Residential 5.1 Quality timeshare units should be accommodated to help keep occupancy rates up. 5.2 Affordable employee housing should be made available through private efforts, assisted by limited incentives, provided by the Town of Vail, with appropriate restrictions. The Vail Land Use Plan projects a need for additional lodging units in the Town of Vail. While the statistical information used to project need is most likely, outdated, staff believes there continues to be a need for additional lodging units in the Town of Vail. The Plan projected a need for a total of 395 additional lodging units by the year 2000. The Plan further suggests that increased density for commercial, residential and lodging uses in the Village/Lionshead Core areas would be acceptable so long as the existing character of each area is being preserved. Staff believes the proposed major amendment of Special Development District (47) is in concert with the goals and policies of the Vail Land Use Plan as outlined above. Lionshead Redevelopment Master Flan The Lionshead Redevelopment Master Plan was adopted by the Vail Town Council in December of 1993. The purpose of the plan is to encourage redevelopment and new development initiatives within the Lionshead area. The plan outlines the goals and objectives for the enhancement of Lionshead and proposes recommendations, incentives and requirements for redevelopment and new development. E 12 Chapter Four of the Lionshead Redevelopment Master Plan identifies issues and provides recommendations that need to be considered in all planning and policy decisions as Lionshead redevelops. The applicant's properties are located in what is identified in the plan as the Resort Lodging Hub. This area is located just west of the Lionshead Commercial Core and is comprised of mostly high-density residential development. All future plans and proposals should work to reinforce the residential character of the area. New development should aim for quieter pedestrian streets, well-defined pedestrian connections and more intensive landscaping and higher quality streetscape development. The plan further suggests that new development be constructed on a north-south orientation to improve physical, visual and sun access to the buildings and the streets below. - The plan proposes improvements to the intersection of West Lionshead Circle and Lionshead Place. Currently, this intersection handles heavy loads of traffic for lodging and service deliveries. The plan suggests the elimination of on-street loading and delivery and an improved pedestrian area at the intersection. To this end, the plan recommends that loading and delivery areas be deep enough into the building or property to prevent delivery trucks from blocking vehicle or pedestrian traffic. The plan further recommends that these areas be landscaped and/or screened to improve the aesthetic quality of the streetscape. In no case, however, shall a property utilize the public roadway or pedestrian area to stage service and delivery vehicles. Lastly, in Chapter Four, the plan encourages the creation of landmark features in Is Lionshead. A landmark feature is a significant architectural element that all visitors to Lionshead can identify and remember. Landmarks signify important points of entry, critical intersections in the pedestrian network, as well as destinations and visual reference points. Appropriate locations for landmark features are the east pedestrian portal, the central retail mall area and the west pedestrian portal in the vicinity of the intersection of West Lionshead Circle and Lionshead Place. Chapter Five of the plan provides detailed recommendations based upon the examination of individual parcels of land in the Lionshead area. The intent of the examination is to identify important objectives for redevelopment of specific parcels in Lionshead. The recommendations for the Marriott property are listed below: 5,13 The Marriott With approximately 320 rooms, the Marriott is the only supply of hot beds in Lionshead. The single largest structure in Lionshead, it is also very visible, especially from the west. It is consequently a high priority renovation project, and all reasonable measures should be taken by the Town of Vail to encourage and facilitate its enhancement. Specific issues regarding this property are as follows. 5,131 Redevelopment or Development of the Parking Structure The best opportunity for new development on the Marriott property is the existing parking structure (figure 5-17). If this site is developed, attention should be given to the relationship between the development, Gore Creek, the Gore Creek recreation path, and the west day lot. Vertical development should step back from 13 the recreation path, and there should be a clear separation (most likely a landscape buffer) between the public space of the recreation path and the private space of the residential units. 5.13.2 Ihfill Opportunities There are several tennis courts on the south side of the Marriott. This area presents an opportunity for low-rise infiil development that eases the visual and physical transition from the existing structure to the Gore Creek recreation path. 5.13.3 Opportunities for Fagade Renovation Exterior renovation of the Marriott is a community priority, but the size and dimensions of the structure present a challenge, and it is unlikely that the architectural design guidelines (see Chapter 3) can be fully met. However, this should not discourage exterior renovation, and the Town of Vail Design Review Board should insure that the intent of the guidelines is met. (This is a basic premise of the architectural design guidelines, relevant to all existing buildings in Lionshead). 5.13.4 West Lionshead Circle in Front of the Marriott Any future development or redevelopment of the Marriott property should include a continuous secondary pedestrian walk on the south side of West Lionshead Circle. A pavement snowmelt system is strongly recommended because of icing problems on the walkway in winter. Chapter Eight of the plan prescribes the architectural design guidelines for redevelopment and new development in Lionshead. The intent of the guidelines is to direct the growth of the community through distinct levels of perception, from views of the neighborhood from the mountain and highway, to perceptions within its pedestrian streets, to the detail level of artistry and ornamentation on the structures themselves. Staff believes that it is most appropriate for the Town of Vail Design Review Board to review the plan for compliance with Chapter Eight of the plan. Overall, staff believes that the applicant's proposal complies with the various provisions of the Lionshead Redevelopment Master Plan. The proposal addresses landscape improvements, exterior facade improvements to the existing hotel, pedestrian improvements both to and from the street, lodging improvements utilizing infiil development and the creation of a landmark feature to help identify the western portal to Lionshead. The applicant has also proposed to enhance the pedestrian experience at the intersection of West Lionshead Circle and Lionshead Place by proposing new activity generating commercial uses on the corner. If there is an area where staff believes the applicant's proposal may fail to comply with the plan, it is in the design and operation of the loading and delivery area. Staff believes that the loading and delivery area should be redesigned to insure an adequate number of berths to accommodate service and delivery vehicles to prevent loading and delivery from the public right of way and to insure that the berths are adequately designed to prevent service and delivery vehicles from impeding traffic flows. Additionally, at a minimum, loading and delivery facilities should be designed into the Gore Creek Club so that the club can operate as a stand alone building should it ever need to be. 14 E. Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. There are no natural and/or geologic hazards that effect the applicant's property. E. Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. The applicant has proposed to deviate from the setbacks prescribed by the underlying zoning. The underlying zoning prescribes 20-foot setbacks at the exterior lot lines. The applicant is proposing a seven foot setback from the west property, zero setbacks at the ground level on the east and north property lines, and more than 50 feet from the centerline of Core Creek. The proposed setbacks allow for a minimal landscape buffer to be planted around the perimeter of the Core Creek Club. The setbacks for the existing hotel remain unchanged. The applicant has maintained a 20'foot building separation between the buildings on the interior of the development. The building setbacks allow for the required building separation and provide adequate pedestrian-traffic circulation. The proposed zoning for Lionshead and the master plan requires a 10 foot setback along the west property line. The applicant is proposing to exchange two portions of Town of Vail right of way for additional stream tract area. The areas in question are at the front entrance to the Core Creek Club and at the eastern end of the Marriott hotel. The exchange of land would be on a square foot-to-square foot basis. The applicant believes that the exchange would result in a win/win situation for both the Town and the property owner. The applicant has submitted a detailed sun/shade analysis. The purpose of the analysis is to illustrate the impacts of the redevelopment of the existing hotel and the construction of the new club the public right-of-way and adjacent properties. While the increased building heights will increase the amount of shading on the areas to the north of the development site, staff believes the increases are minimal and will not have any negative impacts on existing or future development. A copy of the sun/shade analysis has been attached for reference. G. A circulation system designed for both vehicles and pedestrians addressing on and off-site traffic circulation. Staff believes that the proposal complies with the circulation system criteria described above. The applicant has worked closely with the Town Engineer to design a circulation system that is both functional and efficient. As stated previously, with the exception of the front entry drop-off spaces under the porte cochere, all of the parking will be in an underground structure. The applicant will also provide a much needed sidewalk along the south side of West Lionshead Circle connecting the pedestrian traffic to the South Frontage Road. The proposed vehicle and pedestrian traffic circulation plan complies with the recommendation outlined in the Lionshead Redevelopment Master Plan. E 15 H. Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and functions. The applicant is proposing to implement landscape improvements around the existing hotel and around the new club. As part of the improvements, the applicant will be providing a pedestrian connection from the hotel and club down to the streamwalk. Staff would recommend that the applicant increase the landscaping and enhance the streetscape at the entrance to the new club. No landscaping is currently proposed in this area. The staff would suggest that the final landscape plan be reviewed and approved by the Town of Vail Design Review Board. 1. Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. Phasing of development is not proposed. The applicant is required to submit a construction phasing and staging plan to the Town prior to receiving a building permit. The plan will be used to ensure an efficient and workable relationship with surrounding uses during the redevelopment of the hotel and the construction of the club. V CRITERIA AND FINDINGS FOR A CONDITIONAL USE PERMIT The following criteria are to be used by the Planning & Environmental Commission to when evaluating a request for a conditional use permit. 1. Relationship and impact of the use on the development objectives of the Town. The applicant's property is located in an area identified as the Resort Lodging Hub of Lionshead. This area is characterized by residential and lodging-type of development intended to provide accommodations for our guests, residents and visitors. A long standing goal of Vail as a resort community is to maintain and enhance the short-term overnight accommodations. A substantial hotel bedbase is critical to the continued success of our resort market. There are many means of maintaining and enhancing the short-term overnight accommodations. The obvious is to build strictly hotel rooms. A second means is timeshare and other forms of interval ownership. The possible benefits of timeshare include: Increased activity during shoulder seasons + The attraction of revenue generating tourists + Efficient utilization of resources s Pride ownership and buy-in to the community ® Increased levels of occupancy ® Increased resort exposure due to the extensive number of interval owners Reduced cost of property ownership in a resort community 16 Overall, staff believes that the applicant's proposal to construct 66 1f201h interval is ownership units in the Gore Creek Club is positive. Interval ownership units and the use thereof are compatible with existing and surrounding uses. Staff does not believe that the proposed conditional use will not have any negative impacts on the character of the area. 2. The effect of the use on light and air, distribution of population, transportation . facilities, utilities, schools, parks and recreation facilities and other public facility needs. Staff does not believe that the request to construct and operate an interval ownership club will have any negative impacts on the above described criteria over strictly accommodation units. With increased occupancy comes possible increased use of our public facilities, such as the bus system, streamwaik, bike paths, etc. Staff does not believe, however, that the increased use will be detrimental. 3. Effect upon traffic with particular reference to congestion, automotive and pedestrian safety and convenience, traffic flow and control, access, maneuverability, and snow removal from the street and parking area. Similar to the criteria #2, staff does not believe that the proposed use will have any negative impacts on the above described criteria. A. Necessary Findings: The Planning and Environmental Commission shall make the following findings before granting a conditional use permit: 1. That the proposed location of the use is in accordance with the purposes of this Title and the purposes of the district in which the site is located. 2. That the proposed location of the use and the conditions under which it would be operated or maintained will not be detrimental to the public health, safety, or welfare, or materially injurious to properties or improvements in the vicinity. 3. That the proposed use will comply with each of the applicable provisions of this Title. VI. STAFF RECOMMENDATION Major Amendment The Community Development Department recommends approval of the applicant's request for a major amendment to Special Development District #7, Marriott, to allow for redevelopment of the existing hotel and the new construction of the Gore Creek Club. Staff's recommendation for approval is based upon the review of the criteria outlined in Section IV of this memorandum. The staff believes that the proposal generally complies with the nine design criteria, as identified in this memorandum. 17 Should the Planning & Environmental Commission choose to recommend approval of the requested major amendment to the Vail Town Council, staff would recommend that the Commission make the following finding: That the proposed major amendment to Special Development District #7, Marriott, complies with the nine design criteria outlined in Section 12-9A-8 of the Town of Vail Municipal Code. Additionally, the applicant has demonstrated to the satisfaction of the Commission that any adverse effects of the requested deviation from the development standards of the underlying zoning are outweighed by the public benefits provided. Conditional Use Permit The Community Development Department recommends approval of the applicant's request for a conditional use permit to allow for the operation of the Gore Creek Club. Staff's recommendation is based upon the review of the criteria outlined in Section V of this memorandum. Should the Planning & Environmental Commission choose to approve the request for a conditional use permit to allow for the construction and operation of a interval ownership club, staff would recommend that the following finding be made: That the construction and operation of the 66 interval ownership units in the Gore Creek Club adheres to the purpose statements of the High Density Multi-family Zone District and of a conditional use permit as stated in the Town of Vail Municipal Code, Additionally, the construction and operation of the Gore Creek Club will not be detrimental to the public health, safety, or welfare, nor will it be materially injurious to the to the properties or improvements in the vicinity of the Club. is Should the Planning & Environmental Commission choose to recommend approval of the requested major amendment and the conditional use permit, staff would recommend that the approval carry with it the following conditions: 1. That the applicant submit the following plans to the Department of Community Development, for review and approval, as a part of the building permit application for the hotel: a. An Erosion. Control and Sedimentation Plan; b. A Construction Staging and Phasing Plan; C. A Stormwater Management Plan; and d. A Traffic Control Plan. 2. That the applicant provide deed-restricted housing, which complies with the Town of Vail Employee Housing requirements (Chapter 12-13), for a minimum of 10 employees, and that said deed-restricted housing be made available for occupancy, and the deed restrictions recorded with the Eagle County Clerk & Recorder, prior to requesting a Temporary Certificate of Occupancy for the Gore Creek Club. 3. That the applicant appear before the Design Review Board for a conceptual review of the proposed improvements prior to appearing before the Vail Town Council for consideration of an ordinance amending the Special Development District and receive final Design Review Board approval of the proposed improvements, prior to application for a building permit. 18 4. That the applicant redesign the proposed loading/delivery plan to insure that service and Is delivery vehicles do not block or impede pedestrian and vehicle traffic. 5. That the applicant redesign the proposed plans for the Gore Creek Club to provide a minimum of one off-street loading/delivery berth so the Gore Creek Club can operate as a free-standing facility. 6. That the applicant submit a complete set of civic engineered drawings of all the off-site improvements, including improvements,to West Lionshead Circle, the sidewalk from the common property line with Antler's to the South Frontage Road, for the required on-site and off-site storm water drainage and management system, for the pedestrian connection to the streamwalk, for review and approval, prior to application for a building permit. 7. That the applicant submit to the Community Development Department an approval letter from the owner of Lot A to the west of the Gore Creek Club development site granting permission to regrade portions of Lot A as depicted on the proposed plans. 6. That the applicant revise the plans to eliminate any off-site encroachments of the building on the Town of Vail right-of-way, prior to an appearance before the Design Review Board. 9. That the applicant meet with the Town Staff to prepare a letter of agreement outlining the requirements of the off-site improvements, prior to first reading of an ordinance approving the major amendment. 10. That the new sidewalk along the south side of West Lionshead Circle be snowmelted. is 11. That the applicant amend the proposed landscape plan and provide increased amount of landscaping at the front entrance to the Gore Creek Club and the retail shops. 12. That the applicant submit a proposed streambank improvement plan to the Community Development Department for review and approval prior to application for a building permit. 10. That the applicant submit complete set of plans to the Town of Vail Colorado Department of Transportation for review and approval of a left turn lane off of the South Frontage Road onto West Lionshead Circle. The plans shall by approved by CDOT prior to application for a building permit. C 19 f E y?7 j! ? } I ?'h viG ?'JaZY? i t December 2, 1998 February 7, 1999 (revised) George Ruther Town of Vail Community Development Department 75 South Frontage Road Vail, CO 81657 Re: Marriott's Mountain Resort at Vail- major amendment to SDD George: Subsequent to our pre-application meeting on 10119198, before making a formal application and accordance with the new policy, we would like to schedule a joint meeting with the PEC, Town Council and possibly even the DRB as early in January 1999 as possible. As requested, here is a synopsis of what exists at the hotel and what is being proposed. Subsequent to our pre-application hearing on January 12, 1999, the project remains as presented except that the location and number of EHU's has been revised. Existina Hotel The existing hotel is comprised of 3 buildings of varying age and construction. We refer to them as Phase I, Phase 11 and Phase Ila and the West Parking structure. Uses in the Hotel are AU, DU, commercial, various food service operations, and convention. For the purposes of our project, we will address only the uses of AU, DU and one particular restaurant space. Prints of each building's original design documents are in your archives under different names. The following information is based on these documents (I would like to point out that many of the units defined as DU's are owned by the Hotel and are operated as AU's). The current unit mix is as follows: Phase AU DU GRFA 1 74 14 38,380 II 97 12 48,212 Ila 35 2 7 50 555 Total 206 53 137,147 George Ruther February 7, 1999 (revised from December Z 1999) Page 2 Lot area (including the parking structure) is approximately 222,273 SF. Under PA zoning, allowable GRFA would be 80% of that or 177,818 SF. Existing GRFA is therefore 77% of allowable. The "Windows" restaurant, with a seating capacity of approximately 85 seats, is no longer in operation and is used only for special functions. Existing parking is located below the buildings and in the west structure. By count, there are 407 spaces with 205 in the west structure. We are assuming that existing parking is adequate and will be °grandfathered" in as such. Prooosed New Construction & Chanaes 1. Convert the "Windows" restaurant space and 5 adjacent AU's into 3 or 4 DU's. Parking requirements decrease by 1.6 spaces (85 seats/8 seats per space less 4 spaces (2 units < 2000 SF) and 5 spaces (2 units > 2000 SF)). 2. Upgrade exterior appearance of existing hotel buildings by doing the following: a. Add steeply sloped roofs to lower .the eave lines of the various buildings. Roofing material proposed to be 40 year shadow-line type fiberglass shingles. b. Add "landmark" roof elements to buildings II and Ila. C. Remove wood siding at balconies on all buildings and install new metal railings in various colors and patterns. d. Remove most of the existing wood siding and replace with EIFS in several colors. e. Repaint existing stucco. f. Existing standing seam metal roofs remain to a large extent. g. Add new retail spaces with heated sidewalks along West Lionshead Circle at Phase 1 and Phase 11 when future economic conditions warrant. h. Remodel existing porte cochere. 3. New Phase III atop existing west parking structure with interval ownership units in accordance with the Lionshead Master Plan. a. 66 new units (see unit mix table below) totaling approximately 75,000 SF of GRFA. Current drawings reflect the following unit mix and area: Number Unit type ( GRFA 50 1050 SF 2 BFd 52,500 12 1450 SF 3 BR (2 BR w/ loft) 17,400 4 Studio units ( 2529 66 72,429 b. Building amenities including front desk and Owner lounges. C. Addition to parking structure with internal ramps and providing for completely covered arrival, 61 new parking spaces with an easy additional 15 via valet positioning. 0 George Ruther February 7, 1999 (revised from December 2, 1999) Page 3 4. Converting 9 existing DU's in Phase ila into deed restricted EHU's; 8 units are studios with minimal kitchens and one unit is a one bedroom unit with full kitchen. Based on a recently completed project of similar size, the Phase Ill addition will create 25 new jobs. At a requirement of 20% of this number, 5 new FHU s are required. Instead of the 9 units in Phase Ila being deed restricted, we are now proposing to convert. the existing ski shop in Phase I into 6 new studio and one bedroom units (3 of each] ranging in size from 390 SF to 520 SF. 5. Modifications to landscape on Gore Creek side of complex including removal of most of the existing high berm thus opening up to the bike path and the creekscape. One tennis court to remain, the other one and the volley ball court will go. Other modifications per the submitted plans. Proposed total GRFA would be 209,576 SF or 118 % of the total allowable on the site. This is far less than the 250% maximum that would govern in Lionshead and even less than the 150% granted the Austria House in the Village. Compliance with Lionshead Master Plan and Design Guidelines- November 17 issue, Existing Buildings: 1. Proposed modifications to roofs comply with the design guidelines even though the proposed slope exceeds 12:12; the steeper roofs will lower apparent eaves, balance roof area with wall area. 2. The proposed "landmark" roof elements will give the western edge of Lionshead the presence of a "grand old hotel". 3. Proposed streetscape elements do comply with the Plan and guidelines. New Building: 1. New building is right at maximum height limits with the proposed steeply sloped roofs and small areas of flat roof. We are well below the roof height average required. 2. Our proposed 15:12 roof pitch is steeper than the 12:12 specified but again provides significant aesthetic advantages the satisfy the intent of the guidelines: lower eave heights and wall heights and a better balance between wall area and roof area. This aesthetic benefit and addressing of intent is the basis for which we would seek conditional approval as provided in Section 4.2.8.3. As for the small areas of flat roof, they are comparable to those found at the Sonnenalp and would be visible only from high on the mountain. They are also allowed under Section 4.2.8.1. 3. The issue of height and flat roofs could be resolved if the datum for measuring height is set at the top of the existing parking garage instead of at surrounding grade. We have an unusual case here for new construction in that we do not have the option of putting the structure completely below grade as could be done with other new buildings. George Rather February 7, 1999 ('revised from December 2, 1999) Page 4 1 hope this gives you an adequate overview of our project. We look forward to the meeting with the Council and PEC and a subsequently smooth approval process. We could reluctantly accept staff approval on this one if required to do so. Sincerely, 11 0 E zu R ? S +k`'?', n r. <3fir February 7, 1999 George Ruther Town of Vail Community Development Department 75 South Frontage Road Vail, CO 81657 Re: Marriott's Mountain Resort at Vail- major amendment to SDD- Conditional Use Permit George: Subsequent to our discussion last Friday, we are applying for a conditional use permit to allow time-share units at the proposed Phase III addition to the Marriott Hotel in Lionshead. This application does not change the building or its bulk and mass in any way from that presented to the Council and PEC on January 12, 1999 and recently submitted for approval by the PEC. Nor does it change in any way the impacts associated with this project (light, air, Town objectives, traffic, etc). It merely seeks permission to sell the units in a manner that is consistent with the current market and this project's location, I will point out that both fractional fee units and time-share units are conditional uses allowed under HDMF zoning with no stated preference of one over the other. The Phase III component of the Marriott project is stated as a high priority project in the Lionshead master plan. Regardless of whether it is approved as an amendment to an existing SDD or as an exterior alteration under the new Lionshead zoning, what we are proposing will provide higher occupancy rates and more warm beds than a condominium (HDMF) project. For this reason alone, this conditional use permit for time-share under HDMF should be approved. A further explanation of why time-share is desirable is attached. Sincerely, G ATHMEY P ATT CHULTZ ARCHITECTS, P.C. Henry R. raft, AIA • - Gwath+'n®X tlfiz •'?J{?, W 11 iR-- Z-- I I f lL- } J vow ob fee OA err SF?eeS. N?^?aY°f Gwofhmey P,." Schulte SS- C) 0) V Q Q J Dota 08 FF9 94 Anvbed. CAFE 4AN nes+cnunlixvfw•,. se?e,e ea be. ?a,fs '?ES? 1?NgB4 AQ / CONFERENCE CENTER "lRA'/NG STRUCTURE prro? NF v!o? r . ? C ? - 1 nlrASe ei ^? ? ?r :nnnn 7 ? : ' ?. 0 E'F/ASE !/ Atx fJ51}<xr^ F fG ,:rll(Ifi i ! _e .a5.a?i f l..77 ? I 1 e ? 9 / ds lw . Pf1ASE li A00/T/ON ?^7ff? f ??j ; 4? `. /?fr r?r ?f .,? L; f fil?If j' - 8 t / h M 1 9{41 t?.j t t( ,g..ra- Qy lr; _ \ f II; 3 Ell"! pt ?: ? 1 1 f p ? f'I (`4S ./ - _''3•urrsr?i_ ?._.3-BFI-f?°:rr P sonwrz fo W t2! F"^ Q J ?°^ D3 PE9 qq RpyfAKi. d +N?xnbnr Alttso I ,,? 16f1z G Sy t j •- ? J 1 C- / t ( - m LWLLLI CT1 11111111111111 Lflw f111{ C 7 iTl Ik ! I If { I 1 I 00 RNSG II I7ltSG t PROP05ED SOUTH ELEVATION PHASES I - III SCALE r 3a-a II 11 ? r1 ( ITT "r 1 [ C 1? I ' ii C 1 t`"`" L t :gym 10 ''r 10 ?i CTI sj CT -r' T 0 Imn in co ED cm n 14 reax. ul rw,x IW rtvx u ? rts r °d ,{ s f'+" ' 5 tL 7i-:F.e 3 f A,,'t,--> r a } (TIITI IlI{Tl lllill [(i((1 ,,G aYY s? 13 W'I ? - o a - IMP IMP 13 ,1)1 Lo Lw m m EM E3 /MPS! III riLkS! Ib f EXISTING SOUTH ELEVATION PHA5E5 t - CII _ dcALE. - . so'-a P aatft SchUltz 16/12 n? Yrl - n A Ph f J/??'??l ? ' •,'.M f _ ? - __ `?_ '!! _ m?..inii ..??' II Er. ? \?,? 'f ?hh' - i ,.1f '?.rfi r? r ???i C3 N ILI" a ?3 00 0 Q I C13U CD ED 9 IIf 1, r t - P m rn Frj muse r m+ee n nwx iw D 1 mm 7 10 ED IN E ?b m ILI tL z ,Ai Q Ll L Q } Data OO P 99 wa..4 .?-,?,gm ?,'I Ida EXISTING NORTH ELEVATION PHASE 1 - III _ scnte r . so•-a - !*-t Nu , - A1.3 PROPOSED NORTH ELEVATION PHASES I - itl sate, r = ?o o• tf ?? a e^ \? C `?? Prattfhmay LANDMARK Schultz 0? i9 LANDMARK _ ---eoNeeRf so -?b I -?tiVPN i fr I - L/ i, / QP UGIt Kp5 VN\' ` e - •; ? ? `- \?? \ p°s SUNBIRD LODGE Z / r r d ? ? ? PaF,? r (7 x rRCLEf . , - ?'i Ir '-- WEST .icNL AD £ L C POdI .,i o / u? cl x.' avV ?? ?Lr , t o 0 0 ?' L r r ?"rII Ii ??o ? AE THE MARRIatr 00" soSa ROOF THE MART 1017/.??_.,.".. [?. } > O ?•r 1 • /?'?` [ O JONSHEAD 'L ACE .. ". ACE - I PARKYNG I_- •L?cf ROOF PARKING a L © LION SOUARE i .i r' _... •`F(, _?X ANTLERS r , .?----- T r r o '- WESI DA'I, :-OT\ J 4 6?, Al \ t - i a ov, a sneee rv?mte? RING/FALL EQUINOX 10.00 AM ?? MARCH 2i/SEPTEMBER 25 A 1.4a ?`> SUN/SHAPE ANALY515 -EXISTING BUfLDiNGS ,`,r 8 L a _.......1 O r ? Pratt LANDMARK _ Schultz LANDMARK 2:A I- . A F , ' t1ALL PL Z r-- -<7 i - ° tp5y I I q t f' dL SUN61RD LODGE Z ?SS,r?((I I?S _ I Z 10 Yr ?` ICJ . ., ?/? Ca (}'` _ V - - EIRGLE wc?l AD `POOL 1 t. , rj!Q' r 17 _? ? -? c - I I ? . i t O Q. I ? _. ? t If? I ? r Fy£ ?? V C r 1 Cap I ?' ?'I ? r (v rl C THE MARR107T Cy Q?? ??? LAON SOUR ? ? ROOF ? O I P,ab\l,", ,-/ PARKING' v i t rl r / G r ? 1Hg MAR IQ1 7 v fONSHEAD,.. ? G (r `t LACE' --J PARKING` F? i ROOF PARKING LION SQUARE «... i r t \ t 1. '?? , ANTLERS _----r ----- _ • l ' WESt DA 101 (( =? ?\.vt . _Cy .fl SJ- /. \ d I } \ , t rxr? os 9v . ?N jl? 83 sno.e rrumr a? 5PRIN6/PALL EQUINOX 2:00 PM t MARCH 21/SEPTEMBER 25 {3 SUN/5HAPE ANALi`515 - EX15TING BUILDIN(55 1'4 I air LANDMARK v , - Schultz h uo , LANDMARK _ o I e.,tiua.w. i ogZT??o L .) f al --- 1 - ? - eDNeE?p Q\ I"I(f/ r t Irt?-A2 `a{? .? ? _ Ej/ \ r r ..I .. ? r r QP ??1? £A IN ? ` l ?! r i FPH 10 S IL cl'?, SUNBIRD LODGE Z _ E tl ?.. r?l r _ ? \ I lkP? POOL _ •?- i I ( f' I I ?\\7 t THE MARRIOTT OO o- ,}' C3 ROOF fl: PARKING - } r' TYIE MAR rIOTT / > - IONS CE AD, C... RK i f PA ROOF PARKING (l, is ?'1 1 LION SQUARE+ _ K} ANILERS sma+i ? - El LOT o -? 1 ? 4 ? (a , ? - ? ? t l1 - CI ? - \\: •. aevre.a, FAH as 1 l I 00 -0 Cl " WINTER SOLSTICE 10:00 AM <«? DECEMBER 21 +.- ., ! 5UN/SHADE ANALI'515 - EXISTING BUILDIN65 G Gwathmev Prott LANDMARK Schultz C 0? LANDMARK a4 _ z "' moo= a C ??` d ? l --eoNO /_ _..?. _ Cl 11 iiAtl Z F11 80 -' c it f ? ? f3 I , fl ? .. ?tyZtPN r-? r ' tL - SUN8IRD LODGE t Z f s r^ \ ER ? d f ' C3 ` r 11 '?Q-?.- 1 t 1 I i!. I I ado / h: 411 I W '• I •_ ? THE MARRIOTT G?'. SOU ROOF 4 n 5R V O \/ ` l / PARKING THE MAR7:IOIT .. 1 ?' I; - A\\ IONSHEAD C' ' r f PARKLNG ..' > ROOf PARKIN(; Jj''3 _ .. , LION SQUARE I f' \ CJ i'`"?x ANTLERS hf i i f •+?) I ?} ? 5`J, 4MN9s `` ? ? ? ? l o-n.n.. ,?• '"I- - WEST DA LOT 'j ob Qa .?x _ 5heek NwMwr WINTER 501-5TIGE 2:00 PM DECEMBER 21 A1.4C -EXISTING" BUILDINGS SUN/SHADE ANALYSIS - Prall LANDMARK _ Sch fz i ll?i\`A - . t ll'_. r ! ?? LANDMARK a?..K.?. -. 7 rr.r i tt,L(d 3-1 _ V . ; II tk - HALL-PL-Az ,' f t {? fiJ 5QP VV P I uNBIRD LODGE .?_ O Q t l ! ?? I F #'?% f3 c k ROLE 1P. I r POOL P ` -LF' ! I U fi'r''-'? THE MARRIOTT <l? V s d p `TO ., r h,\f PARKING ? U ice, r -C ?`n -jX THE M }ON H AD. ! - LACE 3 t ( \ _j. Ofie ROOF PARKING r ? LION SQUARE "'tF«.•g !?I ANTLERS ... ( t FEH 99 \ Q 1 ! N1CSY UA'Y? L.OT? GORE CREEK CLUB t r? ,f7 - w SPRING/PALL EQUINOX 10:00 AM MARCH 2115EPTEMOER 23 1.4 5UN/5HADE ANALY515 - Pf20P05ED BUILDING AND PAGELIPT r vy4Al I C. Gwathmey - MARK - Schultz = / I I • Cl LAND ?....... ll``xL C LANDMARK Q 1` -eoyeEkVr \ i E 117 _.. , , 1 Cj? ICI I?t O % bt _ f'/ c?Pp b t 0.? I. t tJ SUNBIRp LODGE .? r! 10 .." C7 C} N C1 _ JCIRCLE°.. 'NE 9j -LIONS" AD POOL - I rE? ARE, a l Q fNE MARRIOTr , U- - 00i ROOF v O 0 V C ??? / PARKING - © } > r I41E MARE 10F7 C! ? I IONSNEAp ! 6 LACC J (Y: 1 L ROOF PARKING O C F I I... _ t 4 \ A t- 1I r F, .. .. LION SQUARE v P - -y -L2 I AN7LER` ff ?_ _'•- .. - _ _ _ _ Date. ? PE9 9q \ W65f DAJ? LO(1 y` GORE. CREEK CLUB _ fit Y f._ vim, C1ttL 3 00 PM ui f4.: r^^ 5FRIN&/F/1?,LL MAR 4 21 SEPTEMBER 3 A SUN/SHADE ANALYSIS - PROPOSED BUILDING AND FACELIFT it -- f r fs„ ,? - ? ? ? r Q ??} ?7 6; 5 't ? - P hafhmey r _. I t 1 r--Z LANDMARK -Schultz -, ol. I ... / / O L krwotwn LLQ ?, I I y ? - =-eoHCeh?- ?k ` I _ I Ct ? OL' SUNBIRD LODGE ?W k R O d jjf f 1t cLE' ..- r f , r ({i a l :i h r I k ,t i?t i I v i -VHE. MARRIOTS ?p't 4 „ s47VA _ Q _ _)t Opp' o y- IN/ . ? ?. -. '• >. ? _: ., v ROOF / P- \ t C i b PARKING w r.- . ! . t . _ L_. l i v j . Pt THE MAR 6011 t " k>,..'.C I d - A? % ? e' ? .? •? IONSHE AD r E \ . A, ?t . ,% Q LACE ?- /i?? •?ct ROOF PARKING f/ ?y LION SQUARE v? l ANTLERS ..,..?,... 00 WES( DA\YI LOt GORE CREEK CLUB ©C - _ ootoos av o w)- -- 0 _. _ v 00. t• fir. _ _ } _ .. 1tf? ,,. 3h?at Number WINTER SOLSTICE 10:00 AM httk DECEMBER 21 f e I Ae 3 _ SUN/SHADE ANALY515 - PROPOSED BUILDING AND FAGELIFT ?- 1 y - 6wathmey 7- _ SChultc 7= {?- ` )• LANDMARK ?0 LANDMARK ?? - f r F , ,. ` y -iALL- Pt--Az a ?:' 1 1 -- d _ O FTF d r C7 O 4 - iu ;? l47 ?N? w 4 i1/ ?/ Ro SUNBIRD LODGE .??tL' ! 10 r ? !J _ ,? ? t rn 1 l( O ?. C:L !? I . 1 r (,? 1 l i -r .D' SHE MARRIOTT ?? gOU NR? j'- 3 1 r?? y P 1 5 ROOF - PARKING THE MARtJO J ?+ ! i -'ONSHEAD C - FACE- F 1 _ C ,Y ROOF PARKING - - 't ID I, LION SQUARE m".r.?m_ ANnERS ! F -'--; WcSI UAY 1 OT\ ; t! GORE CREEK GLUE ?U r'_ ?,\:f vaea o9 pea 4v - I :J rJis t` u , . WINTER SOLSTICE 2:00 PM -`' DECEMBER 21 ?, f f { SUN/SHADE ANALYSIS - PROPOSE BUfLDIN6 tj ND FACELIFT ?? / xwl.erm4 Gw-,r,,-, Pratt Schultz =lmnr G (a .- wF4? UNIT #2 UNIT #3 r- It?i ? ( tY fl` I tT'If .1-1 ?.. II r r ?-rr lr rr f'T'f?^iTiS°I ri rrTt:tl r r i : i 1 i LEVEL COMMON FLOOR AREA UNIT AREA 5IX 950 5F UNIT #I = 2566 6RFA LNIT a2 = 2545 6RFA UNIT #5 = 1136 6RFA ( PROPOSED "WINDOVsI5" REMODEL- PHASE II ( UNIT #4 = 818 6R=A ( --- sca?e, t»^ , r -o• TOTAL 6,q25 6RFA Q 6L - t]) Q V ~ L -A O ? z O } ku } I cater oa e® qa ete?l.ee, --o - 61wet N-ber -A 2.1 i a e f _ PROP05EP NORTH ELEVATION PHASE I _ SG LE: Na • V-D' A ?I .it „? ?m r-n ® mm R7 II F,? .. „` EXI5TING NORTH ELEVATION PHA5E I SG LM IW W 1'-O' 6wothmey Pratt Schultz 7 1 ' ? b - «<amaauu' - b 4 M1 7 7. .x . !T is 4`'?86J; ? t t ( ... Z - CL Z r. c 7 i ti^ 1kt I . 6 l' i w^I'MIYOdrik'Sa rtlA _ C _?- ? ? 00000 PROP05EP SOUTH ELEVATION ( y Cl PHA5E I @ z_ 0 f I t. TM-7-1-1-7:1 ? tTJL?n? MC, Cl .. 1 ,' rsa i.,e v w /_ EXI5TING 5OUTH ELEVATION PHA5E I ,45.1 Gwathmey Pratt Schultz ?A Y ?? 7 b ? 11r b i 131 - wa, ?, ,?Fy H'Jitl ?.' I `?^'?s 1 rrn, dU 1?5 4} ? f;" q zj ?' "` u? ?dh•' I ..?- ? .111 i - ?(©'? _ u ?- - 13 r- y rr f t I H t 11 V"t 7d°P X t _ y •? Z UJ _L !i CT?_-r i i J f 1} rte-', < YTIY-i'f If"`f"YI"f'1 I e'7"d?"f`1 il"1°9Cf"i I ?_" .- Jn - D I - f -7-7 a IL LU PROP05FO EAST ELEVATION PROP05ED NE5T ELEVATION PHASE I PHASE I O O SCALE: ke" = 1'-P" SCALES lk.' I'-O' Z !'\ h _I lfl 4ti ? ? f I ..1 r! ILLLII _ ?. ?CCIi"Ft mm ...I ?p-T't fTiC? I . ? m'' .... C _ ? ? mm I I mm I ? I?SCtm 1?l C mm I ' I II ' i m ? CE_ tT3m rPEILf Inim ?..,_paiu- mm 11•f'gm "=t.1.) C ? n.. ?.?_..f-tM I ?fn .lAN b9 .. IIIII .. EXI5TIN6 EAST ELEVATION EXI5TIN6 WE5T ELEVATION PHASE I PHASE I g„, N SCALE. %f, • 1'-0- SCALE: 'M" • 1'-0' ,(/?1y // - f 5.2 k Gwathmey pro" Schultz Ri M1 I re J _F PROPOSED NORTH ELEVATION SGALE? 4e" = V-O' E ry?q?pp on Boo ^•? r Lm DOD DOD En q, -Li 1 i r E i t 1L1 W WI f PROPOSED WE5T ELEVATION- PHASE II SGALEVie" = I'-O" ?II?IIIIIIIIII ?III!Illllllfllllllll E" m 1.?I FF1 Eo? -,?1f R-7. FX15TING NORTH ELEVATION SCALE. We =1'-O" . _L jf ED 0 ED fD EDI' i Ir" [!-7r j 1 E`1 I < Cl?? ?CJ? fX x E _I I I I I E ITi L L i ;Ems!' C I I n n e G I iLuwwiir r 13 to = tk? L Z w v vlx fl O M1 ? ? tt1 Ui f tA,to35 .fHN qq EXI5TING WEST ELEVATION- PHASE II SCALE. ?e = I'-O` ghost Number'j} A 5.5 MM MM C ? ?f l? ff i I?i; I I 4 can ?Imn am - PROPOSED SOUTH ELEVATION 1 I; nl -11 m m _Vii f i li?1 WW[Nl EXISTING SOUTH ELEVATION SCALE: ke - I'-d' aChmey 6Gwatt SchuNz - ?orsw4u ` L )YX ?z t X Fl tr.r'?(u{t y??N? ,t? 17 Ctrl _ Q Q IS) I 1 LL, -?. E? mff® IT ?h m m OICq? ! L.IJ_ , t1 Fn zit # , ED CB LL o rl ',n IM E3 IL Jwww I-j FROP05FO EA5T ELEVATION- PHASE it v ,ot SCALE: Ne' = I'-Q' ?Zryry V U! m e- .. nata ss ,wra as ED [D ED x w.ea, iIIT ?J ? Ti FT ED CU -TI m ® ul, r `1 n1WIj '!Ej ED ITI ED r IIL-t X11 L1J 1111 I E t EXISTING EA5T ELEVATION- PHA5E II SCALE: ?ja' - I'- -1 K,m r AE 5.4 a • • Amok EXISTING EAST ELEVATION- PHASE Ila 5GALE 'he' = 1'-0' 9 0 . -gy N, ,'llt p' 6ffi t Egli Fin __r mm I PROP05E01 NORTH ELEVATION- PHASE fla SGA4E: NU- = 1 -O" t ?' Y i h 1' 1 t ..1 P(?cK wj ?K r(}?C-1 fii F? I (? 111 g tl q M q. ? i... .....w..K. .,...?....?...u......w?war....w.m L i T IV { EXISTING NORTH ELEVATION- PHASE Ila SCALE: V 1'-O' - G wwatnmey SchWtr rr. moo?uu 1 1L (W - lf UJ ?ai t ? V ?' fXLt ? Dnte? ZS .IAN AA ftevleed, Shoot Number - A5.5 = Gwvth-y Pratt 4 Y F q Schutt. t Y t k "tt ff r - (- Q I 1 t R -t.?i-Y? ?.L 'L I CI Ml - _ t r 03 PROP05ED lNE5T ELEVATION- PHA5E Ila PROPOSED SOUTH ELEVATION- PHA5Ef Ila O SGALE? Ste' ? I'-6' SGALENs" ? I'-O" X Iv C? V ? 5 ?? z 0 - } W y A; rIv -rl . T!, ?? 49 4A JAN 94 ' - -'••• •••• t - •.. (?'[' _ Dato. 25 ; , F-.fi pp JJ1 ? ' i i W-, W IC. 3 i tl I ?.1 ? .. .? ?'" ,[t ?. ?? ? .?j1i ® U-i ED;m I t m (i ? EXI5TING WEST ELEVATION- PHA5E I la EX15? lNG SOUTH ELEVATION- PHA5E I la 51-ALE. ria - t'-O ` S ALCr ue- }Wh,erd.t+t Num/! ,r f 1?.V • T F T T T i I a n L, 3' ? IL, q?. rs ? u ? u n ? •.. PROPOSED BUkLDING 5EGTION PHA5E I - B5 SGALC, 1W - V-O" E T f T T i f i ?f5f:? trn ? u u PROPOSED BUILDING SECTION PHA5E I - AA SCALE: 4-1'-a C G........,,-. Profit Schultz Q 4 is) - UA Z LU ? Q I Q ?" O ? J Ca O IU tt1 / ux{ W W 35 .IAl1 Nq P.-d, EXISTING BUILDING SECTION PHA5E I - AA SGALC? kc' = L'-I' 5h-t =Amber I A 4.1 Ptah SChUItr d L i 4 !. . . . .. : . . . . . . ? -.. .?. xo-.5@( t D F-i If E ^^ rt 'I .....?. ...... l f I ? ?- tu PROPOSED BUILDIN6 SECTION PHASE I - AA d d z 0 N w> li .,,. \ wrac } I i Sri Ilslr? Ilxr.} -1-In t I, ?I I tCl"1( (E (11.C"1? ?I ! 3[ i?? r?. f - ?? Daa25JAN4q _ Rs aotl: ,.., ....................... _... a .............................. r rr EXISTING BUILDIN6 SECTION PHASE I - AA_ A4.2 1 1 ? 6 ii ( ? PROF05ED BUILDING 5ECTION PHA5E II - GG SCALE: 4a = I'-O' T (T T T T? Y ? EXISTING BUILDING 5EGTION PHA5E II - GO 5,-ALE, 4e . 1'-0' E „ I PROF05EP BUILDING 5ECTION PHA5E II - BB S,-ALE, ke' T T T TT T .I EXISTING BUILDING 5ECTION PHASE II - BB 5GALC-? 4e . I' O' - T ? T T TT T q i ar" '?...} _ Fl j i FROF05ED BUILDING 5ECTION PHASE II - AA -O LE. 1" - 1 -0- 11 T T TT T T LI li Cl EXISTING BUILDING 5ECTION PHA5E 11 - AA !; ALC: 4.' = i -a' • (f1 P-It 9y Schultz F- O ? to z Lu z? ?I to 0 4=? ?f z O > LU f Does. as ? va ?44.5 pralt 4tn1„av Schatz 1 ?fi rrk - r - - - `_f_ h REVISED BUILDING SECTION }- PHASE IIA - 55 REVI5ED BUILDING SECTION IL SLALEr ty"? PHASE IIA - AA saALe tie' - r'-o" O J 49 Q ? z v N J ( j ? - 1 Oats O@ FEH 99 I, 1 r I Ravlcad -T, _- ?? .. -?.. -. '- f A--4- 1 ? ?f n EXISTING BUILDING SECTION PHASE IIA - BB EXI5TING BUILDING SECTION A4.4 SCALE:" = r-o' PHASE I IA - AA SCALE. Ne" i'-o' F YY y S' 4 g " P w nmav Schultz i? i - I w REVISED BUILDING SECTION ? Q PHASE I fA - CC _O O Z V } W } Ai I ?^ Ir } ? '' 1 Ra?nOed? EXISTING BUILDIN& SECTION PHASE IIA - CG SGALG, ke ° I'-0- I t a j cl i t i i I m i? a ' n 'i rv ` m I- 1 1. 1 1 I I IE -+---- EX1511W Si TYRE --------- - - ----- --- I 2 3 4 5 6? 1 8 ? LL _-_ 1 I 1 i EL I00"-6 SLOPE? w:4% `- j m rt 99'-3 i t SLOPED i W 70 EXI5llm YINi ' 14 3 {2 It 10 4 19?Y{AVATEG 1 1 ? I Is 16 n tfi I< i SPAOE ?j 1 jf I P 1 '! CL 104 -1' a SL?EO e'.4% I? ? 1 23 .. 25 26 ]1 2B 29 , L ?j i - LN ' t NEW EXIS OOt9+4N I LEVEL J PARKIh6 6 -TAIL -11 TRZT 51RIK11,RE SFAO56) AREA WA (68055/ (6RO551 (68655) AREA zm II,416 51 643 5FI ?-- 1 l I ONC 11,916 5F 122.863 5F 4,086 5E 5 CMtl5 w 1050. 5.250 WA i ` i I 1Y10 11,4225E 22A63 5r 2,8685E 6WTS w 1050 6:006VA I' ' I twa 14,440 X 5,86T 5FI t,9t2 5P 6 UN115 w 1050 • 6A00 6RPA F061i I I Y,:33 SFI 164MT5w 1050- tbA00.1 FryE 5215 SF IG (Mn w ,050 -QWo 6RFA 5 WA a 34W, a 1,965 6RFA SIX 57155- 10 UNITS w 1050 10,500 WA 5`-'/EN I I 5m 5F 9 UNT15 a 1050 = 9,450 6RPA I CI6M I 4 3 45 SF 1LINTS x391: 2,1196 A 51w tr 869 ( SiiAlOS 2A,4 w 554 - 1862 WA TOTAL 12A45 6RFA PARKING LEVEL ZERO SCALE. IT.- . t•-O" % ? • s II -- Ewznraa zm+zTw?t , - --- -------- ----- ----- - - - ----- --- ----- - ----- --- -- ----- -------------- ------- ------- ------- ------- ------------- ----------------------- I tai 106 105 104 103 fO2 Iq 100 Aq qp 4} 9n 9S a4 93 A2 f AO ( 8q 4B &i 0b 185 yEry gp1 d4 ?l CL if O'-b `?-7" G G G i ?L f G L b( G L( G f? L G G J H1? N n !?I EMITS 11 G._I? l?flt ,. IIIk ' ?Pj PI IIO__y9' 0114% E?IOT'-6' ='1 1sT ' 1 1Y i ?? EKtStIhS AARKViY dFYE6101'-b ! l .. G40 10$ tai ua m 111 x9 N4 Its 61 66 ! '!0 TI ) T2 i 13 l4 '15 Ts Ti Td T 60 ' 8f a2 i ' 1 P 1? ? ? ? l.23 122 121 t2P IlA kfi 61 ub ? 66 i bfi 64 1 63 1 62 .Q ? b0 4 54 1 5B ST 56 ? 55 54 ? 53 ? 52 9 \( 1 '.. @LU 'q?, SLOPEPaf4% 1 i . 1i ? wiT 3y -Gtt ?1 % 130 30i 36 31 i41 42 j 4l 14 45 46 41 ? 48 49 SQ ?, I 1,? . 4_4 125 128 122 128 13q r< 31 93 34 % j ? I G G WLOIN55T4W6E 1 - { - 1 i ? ? (FVRRE 5K1 K4rny - 1 F 1 ? ?-I ? ? wilt 1 1 ? , c \2 i1 1 t 11 zt 11 ! PA R t LFVEt PARKINS R Y * ROOK IMTAIL SRS - STRl411ME AAEA 6KFA w19 AREA (6K4551 (GROSS) (@R t ` zmo k,91b 5F 643 5F ONE i II./Tb 5F 22463 SF 4068 SF S wilYS.1050 : 5Y# GKFA w 1 IIA22 v 22463 SF 2,868 5F 6 Wi a 1050: 6,300 OUA I, f TNREE 1 14440 5F 5462 5F 1.9!2 Si' 6 w1i15 A b50 . 6300 6REA FaR 1,2335E Ib lHIi5e 1050 16,00 A ? nW 5,2155` l0 wllt5 ? Itf.0? 10500 GRA ? 5 t 5 a 392 • 1.965 6.RFA . Six I 52155E IO",. I: 105006RrA SCVC. I SA 5f a MITS a 1050. 1,450 6RFA EIbM 6,245N 5>CWPr. Pd9.. 2869[i S1WI0523.#.554: 462 6RFA I TOTAL 1211456RFA Gwathmey Pratt Schultz IL ? 111 W O ? 1-J LJ w LU Dates 29 A*N 99 Rsvbed°uheot Nvnlber A2,i 6 LEVEL ONE UNIT LE UNIT LEVEL ONE SCALC. 4.' • V_o'L % h _,-.------- ._._._._._._._._._._._._._._.__._.----- ._._.. f O, 4 ? r --- EE.W lfffi TLW2 GGwathriey _ Schultz _._._.___._._._.__._._._._._._. ._._._._._._...__._._._.------- _._._._-_-_._._._._._._. _._._._._.L_._._._-_-_._ Y j IIX`v - I05 204 203 202 2d 200 199 1% lot 1. ITT If kl ' '9 i t Tk f x - - - EL IIa'4I EL br-s• SLOPEV a M w .... .. ?? y 1206 209 108 141 2b MI 212 93 T MIT 10 ,? i ? \?i J}Fra?i 121 120 219 218 211 zb 21S 214 Yt wIT4 ff SLOPEP d 24% 1Q? 221 223 1z4 ] 5 52 C J 2 5 1 I' /??1 i ?. ?? ?..I r } •?- ?. ° ? ? i ?mlr t' T u?N b . ? T Y u,i \ f r`Q b c z m v? ( k 1 KIT E%15TIN6 c~N {{ I rt! STORAGE j - / _ 145 194 t 142 141 ' 190 189 ? W@ t ib, I.b! 185 184 ( I ?`? 1811 i& ? f c i c 1 c r Ic G i c c, c t c c (c c Ic ?.. ve5t1S i'- ?1 E%ISibK PRRki1K LEVEL IIT-3' 1 1 7 166 W6 169 I 16@ IN ITO Ill 112 m IT4 m fib Ill Itt@ . 194 T A 180 tw/ [?[ Z i 164 I W3 Ibl IEf 160 IN ( 1% 15T 1% 65 154 193 f 191 IL 150 ` 144 /( 1 EV Z I i , f ]XII I EL ill?-3. 1 - t? IN 13i 136 13l 650 .199 140 (NI T 142' t43 144 545 + N6 [41 t48 11 i _f c l c •c c? c g 1 A m,u-F,??r c 1 ? !?k! ? -A W 1 k 1 f LEVEL PARKINS PARKING FLOOR RETAIL MT ' i STRLrM STRWTME AREA WA (680557 [68055; (6Rpy1 AREA II ? k ' 2[80 0016 SF "35F 1 1 •1 1 t ( ONG It09Tb Y- 124H 5f l 4488 51 4 Wn 61050 • 5.250 bRPA j i ? iYfP I1,422 X 23,663Y 246@ X' 6 4NIt5 ? M50 ? 636v ryRFA ?MEL WA4o 9 54625f IAz1 6-ITS 8I0 b3OO WA 1 ' fOLR I T233 EF 16 LOTS • IOW a IWO 6WA ` FIVE 5215 5F 10 LWITS 6IO90 1000 6RFA 4 111 5 LOff f 94'I 1,965 58GA 51% 5,'n5 5F fd UttPi 61050 , (0500 6RfA 6EVCN 5)% sr } 46%ITSs 1050, 9,450 FA EF6Nf 5,245 5P I STWQ Il 869a - N1 2.111 WA 671V0, ,,46554a 1.662 EAPA TOTAL T25956R, AJ Oat. 24.LAR 44 - Fevlud - ?w9°haot+{yilwnb6r - { 2.2 LE ? L TINO LEVEL TNO UNIT UNIT LEVEL TWCJ SCALE, fi." a 1'_0' % GW.thmaY p 0 Schultz <- - Exlsnws SRhGliRE .mo,awaa 1 z641 263' x611 16,'I z6al {ns9 ,' ? '?gi i3>.e C', (=rn :tea ? ao; ;? .v 2ao 14a r'9 9, ' .tc zw f 20 r PM, ts) _ 5•c EAST_ PARKINS LEVEL 12]'-0' 1 c f t 13, ?- I 4, { Pn P 1 7015 209 P (.; 21 Y^•. 1531 254 2531 256 15T 358 ; t o ' -_ t{1 GLO ? 1i ? SI E ! C lMR 16 ( ?, ' F f 11 I I I 1 1 I ,? 215 214 252 29 4 250 124 9 1 340 241: nip 1 fl ; ? ? 4 18?? ; ? I ISO ?? ? ? ? ? ' ll" Ll .i CI. 12a'-V I _ SLCPEO a k4% m (F EL [21-0$ EG i?-0: l 245 }? f it- M IT 15 I IL 5 •' MFAHANICAL 226 221c , 218 '29 230 131 i 332' 333 334 135 1236 33] 330 239 340 341 1'242c 243 44 ' O>7 f„ R_ R61 __ 2z c f i 1- t c c ; c br I-6>'Ara _ (U j. L - 1f UNRt4 taP c- ?7 i1I 1 X ? L?IIT 12 -IT i 11 I-I 1lmil ,l 1?7 l 4 F -X15TIN8 f G e, 29 JAN 90. MARRIOTT LEVEL STRacnWC 51R TM' rAkAF 6WA AREA. (C+Z5r (GROW ? rSRO551 !1 2ER0 11,9]651 { 64951 J l '1 ? ONE 1191651 22.0635E 4085 SF 5 LNIT5 X1050= 52506Ff'A 4 t, ? 1110 11,412 $F 21)*3 51 2868 Sr 6 Utlli'i a 10X5 - 630a 6RFA ? y 1 M `{ 1NRE[ ( Iq,44o SF Sp62 5 j 1,92 5r a LNRS s 1050 , 6300 f rA k? FO.R 173351{ 164W£5 ef050.16,0006RFA X 1 ! r 1ryE ?., S]IS 5F I 10 WI156 IOSO x 10,500 WA ` 5 LOFTS a 991 , 1.985 6RFA 5. 52155r 10 Lw1T64 loSO, roSOO SRFA PARKING LEVEL THREE sneaa N9aRxr { SEVEN 5)9151 9UOFia1050- 9,4506 I`A UNIT LEVEL THREE - 50ALE: ? \ 2 3 ! T LOFTS a 391 = 2,119 WA ? EWNr ( 3.24531 5TWO F O 864 - 06q SRFA ST005 2.3,<9 554. Ip62 6"A I TOTAL 12,'f156RFA '? I` ---.- Ex vm 5,IXTWE 4 rrk., -----_--- ----------------- - ----------------- _--------- - --------- ._ _ . t --------------- r ------ ----- -- - t rl t r? tni ?(? 1 b1-. r?l 1 Tr. m-4 •.`--?'17.J i?rw.ar :Mt{'I?y,"' I !F9#,t ea?n?'° r? ?.I 1 ?( (??7?. ?tfl I ? u r, YI uuT.ta 'Ir ? ? IC q:.,. MIT 25 ?-- t I I Ip11T 24 '{I UNIT 22 I G.O 4 A?? _ _? lu} FCOF 6ARt:EN ` ?I NNr2r f I !' MYr2P L 4 ?. 1 11 ?J,t+,I 4 O \ • I' LNIi l9 ! II I WIT 16 L it y Via. IR C 1 ? al '? i ?? NEYi [%15TIt+5 E IPpxTm P xvM ELR RETAIL RMIT ti LE`/EL $ S(6RO56) AReREA 681.50 AREA (GROSS/ (64055Y (68055) (GROSS) X11 ?% ??" ? I'?` Y ??•?' ,? IEI ? -1 ??1;1 I° f, iMiT93 I'. .Ir ! l I II ' ? uxlr n I I wklr 26 ? ? ? Lom?EA E _ }?^?j I t . 14 I ?? 1.11 } ? ' Mli Ib? I6 \il tl POOF 6AROEN i 5 t 1]¢ -i J it ? t?? d ??+1f[[ ..1:: __, f t (- 14 f?F,yIIIIJ ?III 4 UNIT 30 -?? t1;ILi r ?. l 6508506E ENrRANEE/Exli I (Exl$TIN6) i f I I I I MAPRIOTT Ill ZERO 11,916 Sr 019 i ` PNE ITrIb SF 22.663 Sr 41960% 5 UNITS • 1050 = 5,250 6RFA l It422 Sr 22p63 Sr 2.666 b UNITS a 1050 • 63006RPA TYIO t Tli2EE I9 11110 SF 5.662 5F I.42 51' b WITS. 10$O • 69P06RFh rPIR ? T133 $F 16 ITS p 1050 • I6p00 GRfA IO MITE f lO = 10500 6RFA r yE 5115 $r 5 LOPTS a 39T • 1,965 6RfA 51x 91155E 10 UNITS a 1050, IOSOO 6RA SEVEN Ex Sr 9 UNITS a 1050 • 9,450 6RFA qti v 2;179 WA T EKxN( 9 245 51 = 4 , I 0 554 • [02 WA 51UDI05 223. t TOTAL 12395 GRFA UNIT LEVEL FOUR ?ALE, ".- - V-O" (A Gwathmey Pratt Schultz LUQ kL- Q ??Qa ? tY wo ? INa A L J Gbta 29 JIJ494 Revl?adgheak kWTbae A2.4 Ex1511% STRIrOME 41 ? ( I E ? W ? I l i ? I IrI/r tl?llaY i E r?? ^-!s? I I krtu?, yim I r ! ( ? ?:i (E" I? 1 =? T j L q: cx? A JC qu??? { tS _ ?L { -'t (` m _ ` t - r?? f y^ ?t1. 1 i? ena* i ar 1 ?' TY r: t. l! - 1 ? . ? .,11 0 i._ . 1 Cam=: 1 7 tLSA fl ? t I r ? ? uux 43 `7 , _ trL L L L r r _ wlrss } nlr5r mlr3e 1 (6 s F ` Lti1T23 _ ^ li ?. I? a N 'i Lprr lr 01r sa „- ?1 U11r u. a Y "i'6 \ n 4?H _. _ iI. 1 F711?? i n 1 r { I I4 (( i 7 , jj FL ? F i \q? WIT! ,? UNi142? LO I r I i i L11T =I r?? COOT, 11 LAY '7- -all MHTO i mm!4o IT 41 Cjl 1 1 1 - - 11fi1? I. I?7L• 1`=.L „_ ty 11:: ILLi i Vfli12{ i , ' c5 _ 1 EOFr - 1 I t?l em- -TR v g...4f--?. ! 1 (EX5P fEx6TI 9NilUtCE/[:4t i i tt ! N5) , ?I 1 ? 1` a eELON. ?I, 1 ? 0 1 Iur? O ? 1 1 iC 1 y i . h < I ?`'? I tp? X11 in I EXI5TIN6 1` a MARRIOTT , Ex5PN6 COM40N f "`M LEVEL PA - RARKIIG FEOOR f1ETAit WT i STWA;TUiE STRICTURE AREA 6RFA AREA i 4 fGRO.f) OZ055) (6RO551 ; ZERO 0.9165E 6435E 11 ( ONE 1016 SF 224659 4,088 9 5 UNITS o 1050. 5,250 WA Ii E 11,412 5F W 40 SF 5,e62 5F t,92 Sr 6 ftV 010°5 = 6.500 WA ? 1 ' roll I 1.133 Sr 16 EMITS a 1050: WPOO EWA ' mr 595 X 101M T5 i 1050 =10$00 WA SLO101 0 r .5856RE00 oFZF C? UNIT LE\/EL FIVE ' S1,1 5715 5F 10 T5 o L 01050 • 1A SeaLE, ke' = 1'-O' SEVEN 5A 5E 9 UNITS o 1050 = 4,440 6RFA EkMi 1 LOFiS A 391 = 2,119 wA 3745 5F 51V010 of o 869 • 669 W. S1W1052A,40554= 1,662 WA 10TAL 128156 . 1 r l 1 4 i i, V ry C ?t V 1 ? u ' 4m 'z 4 1 ? L,-,-J I ti I?i k *:op I `- j fWIT 4a V NEYf 6 LEVEL FARKI FLOOR PARKING PARKINS FLOOR RE SRC AR[A S ERFA RETAIL 6RFA Iogo (6R0s5) (6RO5 15RO55), f6p.0?11) ` ZERO 11,9165r 6435r Ott 4",65, ? 22,863 sr 4,009 sr 1 1 iY4p ,,422 5r 22,6635E 23695E '1' ` 1iRE[ 19440 5F 5,662 5E 5r t'12 F.w ,233 5r FIVE, 5,25 sr 51X 5255E SEVEN 5)45r E- 31455E TOTAL .--.. Exlsnws sTruenac - . tf A tl?.1r 41 t - t t rt _ - ? f ? ??f.11J ) UNIT 45 I i I t,. I It"Z11 ) C I if ?f w •? .? l??.?, =,A G? - y VNI3)bb f I __. `: v / ? ? 7yp#1 A I UUT'a9 ?, I 1 (? I t V , . Pi A T 52 I_-['1,l I I ?1 ? I ? ilf r ? i t (??{II LI? ?? p I I cLq,. !j I I t,?l VN1T 6o .?y? 16 1 ? 1 t .- ? - . I IiII ' ?II 1 i 1 (ARTY' PMRAfYElE#1 ' j 1 1 1 i 1 1 i 1 j MARRIOTT EMIT AREA 5w,m s IOEo= 57506RFA b LNFfS A 1050 = 6300 W--A 6 w T5 p 1050. 6,500 6RFA 16 WIT5 p 1050. Ib)W 6RFA to LWT p1050 +10,500 WA 5 Lor. p 541. 1.90 6RFA lO UNlT9 pI0SO +10$006RFA 4 LritT5 p 1050. 4,4506R,A 1LoMpMl = 2.119 WA 5nvlo 1 p 969 n 869 WA 5TVOOS 23;4 p 554 = L662 EVA 12345 WA UNIT LEVEL EIX 5GALE. ke' • I'•O' G at h, Y SchVltz tC- 0 lu l v ?w? •10 V J LI J } ? 7 pates 29 .GhN RR Rp?bed,A/4F?ept TYxnber / 2.6 1 0 E ? t ' h o ?b c f m 4 I t a s qa, 1 r? tlPCN UNii 5{ I NEYI Cx5i1N6 L LCVLL FARK1tXIbRE AREA FLOOR - RETAIL 5T(VO1LR i9F STR G 6RFA SRO f6R05`-J (6ROSSt f6RO557 ZERO N,916 5F 643SF ONE 11.916 SF 23,863 SF 4,066 v 11,A225r 22m 5f 26688E II ` 'WE[ 19,440 SF 5,862 9 f.W2 SF- 4 F01R 1233 SF FK 5,2155F Six 5.215 SF ( SCKW 5). 5r 1*1 52455[ TOTAL IMF _.___ Exl$t11Y., STRLGTIME ----- ---------------------- ------- --------------- - ------- - -------------- ----- - OE T TT f t HII?????????It???? f. L qqq WD t " f a(ll, ?u ttr Y ?! i, rL?_ n N1IT56 ?? ( ?'? uN1i61 1 iar?E?1 i MIT 62 1 MITp ?, !,, -^r, ,? ?, } esoSF tr --- i Itltr?5r ?l r. __? `vt:?--o ?, ???-o ---E? ? ad ?,? 4 ?( '? ,f GF t-t I 9c I ?,- ? ? i 1 ff I LMli SB A T I" CF 1 } t i l t - t r? 'i {?; tWfi EMIT bO ft I f f4[ _ I r r " -r ( f t\ I 6PRAbE ENRiAlCS/EMIT 1 (E%ISiiNb) 11/(/??? 1 i i i i i MARRIOTT MIT AREA S IS a 15 ? 52W WA b M115 R 1050 = 6,300 WR A 6 MIS a 1050: 6.500 6RFA 16 IS . - w 16600 6RFA 10 MIS R 1050: I0S00 6RFA 5 LOFTS a 391 x 1,985 6RFA IO MIS a 1050 • 10600 6RFA 4 LMM a 1050: 9,450 6RFA 1 LOF'SS R 591: 2,119 WA S=.IR869 CW WA 5TLVI05 2.3,4 R 554 • 1,662 6RFA 12995 bRFA , UNIT LEVEL SEVEN SCALE, k,,- . (Al Schultz a L?yL?I YL ? d to V 1 Cnta 29 .L.W 99 RevleM9^hRet Wim?ber A2."'1 i4 it `f f I i{ aRl { I y ?I L i <7 5 f nt z" ? I i 4 ! I LEYLL 5i TAE S1Rt4:TME ? WAL ` i I (6RO5S) (6RO55) f6RO%) II I ZCRO 11,916 5r 645 Et' I h ONE 1 11,1165E 11B61 5P 4,0665F >r1o 11422 sr 24443 sP 2bE6 sr f 1? 'r .,,, h 19,4,to SF 5962 sr 1,112 51 , l row 1,2335E FIVE - 5]15 Sr ' Slx 5.m5 5, ' SEVEN 5)9! 5t' -w 4 37455/' I TOTAL -.----?- Ew511N5 51RtrtI?E _._ _ _. _ .__ _ -------------- -------- . T54 4 .. ..q II UNI15k _ w,511 _ LA2 - - ?C I ??I f cer L ?rl?f _ t ?? i?ITI I. /• ?' t L / _ SNOIQI t I /? M OPEN TO Ipit `-,."To II f?` IIOPEN tO OPEN tO: I? p 9ELON I1 t ? To 1 F[I ?h BECO I BELON_ BCCa1y R I I EGN 1 l ? I I ae ? 1? t I? I G CC snu a MIT 56 LOFT u I 1!?rh r OPEN rO' ...OPEN f0 , BELOVd 4 BELON L I 564)102 ETV105 1 IE ?7 II r 1 : i '?44 orvTo e°PELr"avYO !EI Ll IT?EI? i 59 ?lw9ttbo i T'( t7. MIT t torT - r Lars GARA6E EWf WE/EXIT i (ExI5tIN5) ? f n ' 0 I n M 1 i ? i E i 1 , it EXI5TING MARRIOTT AREA 5 ALTS l 1050 • 5,250 6RFA b M115. 1050= 6,?006REA ' b wtn01050 = bAoo WA 16 U9115. Im - I6,B00 6RFA to min . 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Liriluill NORTH ELEVATION N _... k Lff P P MIN , ._ SOUTH ELEVATION n +F, l`.tr"_r Is! 32dr_°f. a it ?? ? wi LeveL 2 ??? -!,)it I rt ?L (?} . uW ? llttt ?I }'-'? u?.? " ? ? uu,r LewLa f .. ? '6' r t .. - - [xis w Lvt ??. IFA5T ELEVATION/ 5EGTION ?'. ?i?h JFru, '1 'tt ?t?HR LEVEtb t(d ?? M k ?u IIF ?., TII I lC EA5T-WE5T 5EGTION G-dhmsy Pratt Schultz O U! y z l3 q Date. 2q ,IAN qq ReNNdShoat tN?mber A4.1 UPPeR?,bFA Mj A"%. _. Ix - X"n E?UtT1NC-4 .3 raw Sm"aff A1E?1J _ - -- - r aDD 7 oa?rt v C--D It © ® ° - NEON :7 C7 T:7 M?r?-??Gai. • f L---, Lt iNC +?c iF 17h1 Z ? tN r? ESC1t?fiktLq EX1TMlEi`( cj"?Cvt.IFtC-?. r?i??z ty sC EXI ?-1G? i ? ? i ! , , l l 4 N?1N 5117?fALK. `? f,.? fH e w" ?c. 0 ?jL11LDIF.? i -v ,slr b F4 w a' }-Ptv H F5 - sl5r. OL IU 6C _Z Q 2 'V East West Partners George l?uther February 8, :999 Town of Vail 75 S. Frontage Rd. "'J'est `Jail, CO 81657 Dear Mr. iuther: As-a general henafit to-thc con=unity, atxmeshareproperty-falfill&several basic needs of both the permanent and the transient resident. This is evidenced by rapid pace at which this indus-y isg cv ng. w -ld de. A4cording-to-21e Vacates- %vnership Indus-try, a study by ARDA, interval ownership is the fastest growing segment of the travel and leisure wjxka The:ralla ng di ;sign repr-esemrijust a few-of the valuable reasons why properties such as the Gore Creek Club have been so well received by the €ot unities-iwwti?they am built- and- by-those ing the properties. By creating the right size of internal ownership for a particular property, interval ov er fsrop tics arm-aL°le tc? gttract 4ter retain-the-walua guests on which our resort depends. Interval Size In* r a rshiP, t snes'- e, frarAional,o rship- and residers "_ s are all part of the same family of real estate. They are all variations of the idea of sub-dividing a piece of : tatw-in-order-to-law-ez-tbr-rostand.hassles-oj'-g°F,ITag iuvol?ed in the resort real estate market. Choosing the correct amount of ownership is based on the cost, location, a she-demographics-af dr- target sts rket-fo" particular property. The following chart outlines some sizes of interval ownership interests around ski couLtr-y and-hom, much. time_they. allw&, early.-Q%mer to use per year. Property Interval Size Interval ? Time Per Year ? L'ly+RLt?117C+itGAl1A LC t Approx. 17 days Beaver Creek, Colorado Dark Plaza lay 5 Weeps Beaver Creek, Colorado Poste Montane Lodge 1150' ' 1 Week Beaver Creek, Colorado Franz Klammer Lodge ( 111011' 5 Weeks E 100 EAST THOMAS PLACE • 70- DRAWER 1170 i AVON, COLORADO 81620 * •+t++`? ruoY.r.rtVV MX V?6.835.7105 Telluride; Colorado The Deer Valley Club Deer Valley, UT Ivlarriot's Mtn. Resort Breckenridge, Colorado E 1/6.51" II50u' I 8 Weeks I Week Many variations have been created in interval ownership; however, the Gore Creels Club would be-hest-suited-for a share approximatelylt20in size, When the property is not divided far enough, like the Park Plaza, The Franz K.lammer, and The Deer V &Iky Club, the costs- out-weish-the beaiehta of inttervva? ownership in, many ways. First, the cost to buy into the property becomes too close to the cost of buying an' older smaller-&11 ovt ship prope"-nearby,- The eoet to-purcha to in these larger share properties can run well above 5250,000. Secondly, the cost of upkeep becomes more than most ow„e:c. are-willing to p sy. Most interval owzz?a J iy properties offer their owners more amenities than a typical condo. When dividing the cost of these amenities among fewer owners, each owner's expense becomes greater. FinaKy, the financial cost of time,heoomes. tQO much. for. most _owners._ Int-erval-ow- hers-enjoy the freedom to travel extensively through their exchange networks. However, most of their are unable to vacation as-many. as.S.or_6.weeks.per-year.. Their-family-and}ob-ohli?ations only allow 2 or 3. In tlc- years-.the-HyamMountainl odge.in Beaver Creek has shown the great value of a medium sized fractions At 1120t", the owner receives one week of prime ski time-and-=-addhional-l0-days-of summer-usage every year. This-mix fits very well with the demographics of the Vail Valley client, These owners tend to come from out of state for one or two visits per year: Wittrboth summer and winter uad,rp;., at the Hyatt, these owners have a strong sense of loyalty and ownership in their property. However, if they are not able to use all-oftf sir time here, they are abbe to use it through their exchange rrAwork-somcwhemelse.. They are not. forced to buy and. maintain property they do not use, Demographics Cke of the--first-concerns many communities have when an interval. ownership property is proposed is, whom will this property attract. The demographics of the typical consumer of interval o-wncrship.,,,.ycrty_in.the-Vail.Valley are-no .differ<ent..than that of our high- end hotels and lodges. The Hyatt Mountain Lodge in Beaver Creek sold 750 1120'h shares to-at+.v dmately-400-clients in just over two years. The following statistics about these interval owners were compiled from a survey of these owners in March of 1998. 1. Wlat-they-ov--24°,x,-own studios, 451/ w 2 bodro.pm condos, and 35% own 3 bedroom condos. 2. How-much they earn--- 96°/--eam more than 5104,000-per,year, and 73% earn more than $150,000 per year. U 1 Haut saki-tom are - 47%. are, between 36 and 45, and-43% are between 46 and 56. 4P I-1<ouc_rnuch.they.vacation- 3Q°o.hetvueen 7 and I4-days, 33% between 15 and 21 days, and 21 % between 22 and 28 days. 5. Who -they vacations with 6- 61%-vaeatior-with famil.r&,Kids, 18% vacations as couples, and 16% vacation with friends. 6. Wha4 I'ltvy u"o-o vacation - Mo vacation to ski, 45%, vacation to golf, and 18% vacation to play tennis. 7; Where they are from - They represent almost all 50 states plus several foreign oountries, inc1uding_N1exieo,Great_Rritain, AuertoRice, Venezuela, S. Africa; Germany, Canada, Austria, Aruba, and Panama: The-awners-at-the Hyatt Mountain-Lodge-in Beaver Creek are the-same clients that have vacationed in Beaver Creek and stayed at the Hyatt Regency for years. They, too, could have become homeowners in .Beaver. Creek long ago. However, they, preferred the better location and the many amenities of the Hyatt Regency and other upscale hotels in the valley; then the opportunity to own a property with similar amenities and location at only the fraction of the cost of other condos, they knew what they preferred. The ease of entry-and quality- of.the property male them owners and return guests for many years to come. The ComCreek-Club-tat-Vail-wilLoffer this-same opportunityY The clients that have enjoyed the Vail Valley for many years, but choose not to purchase a home, will find the quality, location and ease of entry very attractive. They will become interval owners in the Lionshead area and will return year after year to their property. Live Beds 0 The_biggest goaLof-a.destination resort property is to properly yield manage their inventory. Yield management is the process of fluctuatirig rates in order to maximize the totaLoccupancy of.aproperty while simultaneously maximizing total gross revenue. However, in a destination resort such as Vail, Colorado, it is often difficult to use such a pr Thus, the-number-of occupied pr„k,„, des (Live Beds) is not optimized. In areas such as Vail, the majority of the properties are owned by individuals and, if rented, n=laged-by-art-on site property management -firm, There are two inherent problems facing the number of live beds in the Vail Valley. First, only a few of the ownem-choose to rent their properties. As an example, let's assume approximately 35% of the second home owners choose to-rent their-pr-openies.and-the other 650/o only-u"eir properties for 21 days per year, Even at an occupancy rate of 70% for the rental properties the total-occupancy ffor.the valley drops to less than 30%. Secondly, it is difficult for the property manager to manage the yield of the properties madewnrilable. With-only gees per unit, the unit i"i r- ied or empty in the E eyes of the owner. The property manager can not offer one rQom at a discount and another at a premium and have an offset positive yield. If the property manager operated in this-fashion,-he would-be stealing from one owner to pay himself and another owner. j It is precisely this. problem that keeps the Vail Valley from filling our rooms more often tharr'not- v Interval ownership is a good solution to this problem. There are several reasons why this type of ownership offers a better quality, more highly occupied property. 1. Return guests -- With the dividing of the ownership interest comes the dividing of the ownership cost, By bringing clown the largest obstacle to becoming an owner (money), the Vail Valley can guarantee that guests will become owners and return year after year. I Higher-Quality - In an industry with over a 90% satisfaction rating, quality of product is one of the primary reasons these owners arc pleased. By dividing the cost of-maintaining a property among multiple owners, there is more money to be spent on repairs and maintenance. This allows interiors and extQ,;via tv L,, Ltt/?,YQ4?'i41.1/u1C often, avurding-the-pr9verbial orange shag carpet we often see in older properties. 3. Live Beds - Interval-owners don't come back every year. However, when they do not occupy their condo, they almost always send someone else. Interval International is the association that allows owners of one interval ownership.property to trade it with another. The number of members in the organization is now in excess of 400,000 families. If one of the owners of the Core-Creek-Club -chooses not to use his property, one-of these 400,000 clients will soon become one of the Vail Valley's newest guests. For-these.. reasons, interval ownership has been a great solution for many resorts hoping to maximize the number of guests in town year round. The Paste Montane Lodge in Beaver Creek is a great-example-of a pi.pL., zy that itelps LL1N?, ru4ota to town year round, as shown by their five year total occupancy chart. ?Ja a 1995 1996 1997 - 199 8. nu rY - 7619/*- 89% 90% 88% 93° !a February 69% 91% 95% 93% 94% Perch 83% 87% 91010 96% 92% April 38% 670/6 7701a 78% 77% y 46%1 4&`Yo 49.0 61% 39% June 65% 71% 70%_ 69% 74% July- 7901 76°16-- 81%x 83% 74% August 80% 67% so%- 75% 77% September 7901o- 680/0- 72510, 76% 78% October 42% 54% 55% 61% 64% November_ 5901o 7$-0/0 64%, 69% 50% December 75% 83% 72% 91% 84% This chart shows that-the average occupancy of the Poste Montane Lodge is well above the expected occupancy of any hotel, and far exceeds the very best condominium rental IIJaA.Idr,V; A,ak; Il eUUI UCr44'P- UYiIY rates.' Creating a larger year round-clientele will ultimately help every businemowner and employee in the Vail Valley. 0 It is of paramount.inlportance that we continue the legacy of the Vail Valley as North Ame)ica's number one ski destination. By insuring that the quality guests, on whom our valley relies, continue to visit year after year, we will be able to uphold this tradition. L,L..a rnl 0%.urjL*hi7js`a,5vvJ fuzz step in-gUuuj.,t iAi that dit;bt k^wners will return to use their ri .,.erly and speiad money in our valley for many years to came. Sine . 1 , East Vest Partners 11 0 • Interval Ownership Presentation East West Partners Table of Contents • I,* Section 1 Interval Ownership History Section 2 Interval Ownership Benefits - Consumer Section 3 Interval Ownership Benefits- Community Section 4 Interval Ownership & The Vail Valley Section 5 Look Who's Talking About Interval Ownership Page 2-4 Page 5-6 Page 7-12 Page 13-14 Pages 15-23 East Vest Partners - Interval Ownership Presentation n What is Interval Ownership? Interval ownership offers the opportunity to purchase fully furnished vacation property sold in a variety of forms, such as weekly intervals or point based usage systems. For a one-time purchase price and the payment of an annual maintenance fee, purchasers own their portion of the vacation property in perpetuity. Owners share both the use and costs of upkeep of their unit and common facilities. There are many formats of ownership, varying both in size of the interest purchased and how it can be used. Based on the location and the demographics of the target market, intervals range in size from 1150th (giving the owner one-week per year), up to '/2 (giving the owner 26 weeks per year). In addition the owners have multiple ways in which to use the time they own. Systems vary from a specific week in a specific unit (fixed week fixed time), to a floating system where the owner may select any week in a certain season (floating time). Re-Introduction the Interval Ownership (Timeshare) Industry If you formulated your opinion about the interval ownership industry more than a few years ago, it is time to re-examine just what is happening in this business. The interval ownership industry has gone through a long maturing process. It can be characterized by three distinct phases. The industry started in the French Alps in the late sixties. It wasn't long before unscrupulous individuals in the United States found a way to exploit this good idea to their advantage. For the greater part of the seventies, timeshares were conversions of old condominium properties that were difficult to sell because of financing or lack of quality. Unscrupulous developers typically sold them with no follow-up management after the sale. This image was well ingrained in many Americans for a long time to come. East West Partners - interval Ownership Presentation The second phase of timeshare came in the early eighties. During this time period many reputable developers recognized the benefits the sub-dividing of resort real estate can offer. During this time period many developers began to purpose build timeshare properties. These were often in prime locations with prime amenities. However, the old timeshare image was still hard to dispel. It wasn't until the third phase of evolution in the industry that it finally shed its old image. The entrance of many name brand operators characterizes this phase. Marriott was the first nationally branded hotel company to change many people's opinion. They led the way in the mid-eighties and have been joined now by almost every major hotel brand including Four Seasons, Hyatt, Hilton, Ramada, and many more. With every major hotel brand now involved in this industry, most Americans are beginning to understand its benefits. They see that a reputable company is selling a quality product and staying in the business to take care of the consumer, after the sale. Interval ownership has truly matured and shed the problems associated with it in its early years. From its beginnings in the French Alps in the late sixties, interval ownership has become the fastest growing segment of the U.S. travel and tourism industry. It has enjoyed a growth rate of more than 16% per year since 1993. There are now more than 4,000 resorts located in 81 countries, with more than 3 million families in 174 countries worldwide enjoying the benefits of this ownership. opportunity. Large Companies Involved in Interval Ownership Name of Company # of Project 4 # of Total Units Disney Vacation Club 4 1,339 Fairfield Communities 20 3,680 Hilton Grand Vacations 5 I 566 Hyatt Vacation Club 5 205 3 East Vest Partners - Interval Ownership Presentation Marriott Vacation Club 35 3,000 Ramada Vacation Suites 15 868 Shell Vacations LLC 10 1,154 Sunterra Resorts 70 5,038 Visatana Development Ltd. 10 1,725 11 4 East West Partners - Interval Ownership Presentation Interval Ownership Benefits -- Consumer Interval ownership offers the owner many benefits ranging from pride of ownership in a particular resort to the benefit of owning deeded real estate. The following list is not exhaustive, but does outline many of the tangible benefits why more than 40% of interval owners purchase additional shares, 1. Higher Quality Accommodations - Of more than 2,000 US interval owners surveyed in 1995, 83.1 % responded that "certainty of quality accommodations" was a "very important" factor in their decision to purchase. By dividing the initial cost of development over the number of shares sold in a property, the total cost to each individual is greatly reduced. This allows the developer to increase the total expense for the development project, allowing him to have better locations, better amenities and higher quality interiors and exteriors. 2. Higher Level of Maintenance - Along the same lines as item number one, a higher level of maintenance means a better assurance of quality of accommodations. In today's inflated resort real estate market, renting accommodations has become a risky proposition. The rates are high, but no one knows just what they will get. Many second homeowners buy into their resort home and spend tens of thousands of dollars to redecorate and upgrade the property. However, after just a few years in the rental pool, the quality begins to wane. The owner has only used the property five or six times, but already it is time to replace the sofa and all of the linens. They are often reluctant to make these financial outlays. However, with interval ownership, the cost of maintenance is spread over the entire group. This allows more money per unit to be collected without burdening any one owner; creating a better quality resort many years down the road. 3. Better Locations & Amenities - In today's market place, it is the overall resort experience that is selling real estate. Not just the physical property or the salesmanship. It is the relationship of the property to onsite and nearby amenities. Some examples include: the Disney Vacation Clubs located on Disney property in Orlando, the Marriott Palm Desert Resort with multiple golf courses, tennis facility East Nest Partners - Interval Ownership Presentation and full service spa, and the new RiverPointe Napa Valley property in the heart of wine country. The Vail Valley is no different. Our consumers want proximity to the slopes and a full array of on-site facilities. With the cost of land at a premium in the valley, it is only logical that these sites should be available to multiple families. 4. Exchange Network -- Along side "certainty of quality accommodation," "flexibility offered through the vacation exchange opportunity" was the second most cited reason for owning this type of property. As the size of the world shrinks, thanks to faster, and less expensive travel, people are choosing to travel to a variety of locations more often. Interval International (1I), an international exchange company, offers 1500 properties worldwide. Using a system of equitable exchange, an owner from the Vail Valley may choose to use a different property at the beach or even Europe. There is no feeling of being locked into one resort, like many people feel when buying a second home. II offers these owners exchanges as their gateway to the world. These four general benefits are not exhaustive, but do offer the four main reasons consumers are beginning to prefer interval ownership. In fact, two statistics reported by ARDA (the American Resort Development Association), characterize the overall satisfaction most owners are experiencing. ® 41.2% of those who have owned eight years or longer have purchased additional intervals within that time. * 85.2% of owners are satisfied with their purchase, and 76% report having their quality of life being positively impacted by their purchase. • 6 East West Partners - Interval Ownership Presentation Interval Ownership Benefits - The Community C The biggest goal of a destination resort property is to properly yield manage their inventory. Yield management is the process of fluctuating rates in order to maximize the total occupancy of a property while simultaneously maximizing total gross revenue. However, in a destination resort such as Vail, Colorado, it is often difficult to use such a process. Thus, the number of occupied properties (Live Beds) is not optimized.. In areas such as Vail, the majority of the properties are owned by individuals and, if rented, managed by an on site property management firm. There are three inherent problems facing the number of live beds in the Vail Valley. First, only a few of the owners choose to rent their properties. As an example, let°s assume approximately 35% of the second home owners choose to rent their properties and the other 65% only use their properties for 21 days per year. Even at an occupancy rate of 70% for the rental properties the total occupancy for the valley drops to less than 30%. Secondly, it is difficult for the property manager to manage the yield of the properties made available. With only one owner per unit, the unit is either occupied or empty in the eyes of the owner. The property manager can not offer one room at a discount and another at a premium and have an offset positive yield. If the property manager operated in this fashion, he would be stealing from one owner to pay himself and another owner. It is precisely this problem that keeps the Vail Valley from filling our rooms more often than not. Thirdly, most of our condominium properties are not set up for transient occupancy. In order to truly attract destination resort travelers today, it is important to offer a high level of service. Many of our condominium properties do not offer front desk, concierge and bell services on site. They are operated from a remote location adding to the confusion of many guests. However, most interval ownership properties are set up to operate like 7 East West Partners - Interval Ownership Presentation hotels, offering the most current amenities and services. This helps to attract and retain a higher level guest. Interval ownership is a good solution to these problems. There are several reasons why this type of ownership offers a better quality, more highly occupied property. I. Return guests - With the dividing of the ownership interest comes the dividing of the ownership cost. By bringing down the largest obstacle to becoming an owner (money), the Vail Valley can guarantee that guests will become owners and return year after year. 2. Higher Quality - In an industry with over an 85.2% satisfaction rating, quality of product is one of the primary reasons these owners are pleased. By dividing the cost of maintaining a property among multiple owners, there is more money to be spent on repairs and maintenance. This allows interiors and exteriors to be upgraded more often, avoiding the proverbial orange shag carpet we often see in older properties. 3. Live Beds - Interval owners don't come back every year. However, when they do not occupy their condo, they almost always send someone else. Interval International is the association that allows owners of one interval ownership property to trade it with another. The number of members in the organization is now in excess of 400,000 families. If one of the owners of the Gore Creek Club chooses not to use his property, one of these 400,000 customers will soon become one of the Vail Valley's newest guests. Interval International uses a system of like exchange. This means that the owner trading into the Vail Valley will be relinquishing a property of similar quality from a different destination. The demographics of the guests trading in will be very similar to the demographics of our owners. These guests are new to the valley and would not have vacationed here if they could not have exchanged their property for the Gore Creek Club. This customer base is an excellent marketing opportunity for the community. C 8 East West Partners - Interval Ownership Presentation 11 For these reasons, interval ownership has been a great solution for many resorts hoping to maximize the number of guests in town year round. The Poste Montane Lodge in Beaver Creek is a great example of a property that helps bring guests to town year round, as shown by their five year total occupancy chart. {Month 1994 1995 1996 1997 1998 January 76% 89% 90% 88% 93% February 69% 91% 95% 93% 94% March 83% 87% 91% 96% 92% April 38% 67% 77% 78% 77% May 46% 46% 49% 61% 45% June 65% 71% 70% 69% 74% July 70% 76% 81% 83% 74% August 80% 67% 80% 75% 77% September 79% 68% 72% 76% 78% October 42% 54% 58% 61% 64% November 50% 70% 64% 69% 50% December 75%0 83% 72% 91% 84% Yearly Average 65% 73% 75% 76% 75% This chart shows that the average occupancy of the Poste Montane Lodge is well above the expected occupancy of any hotel, and far exceeds the very best condominium rental management pool occupancy rates. Creating a larger year round clientele will ultimately help every business owner and employee in the Vail Valley. ARDA statistics help support the argument that interval ownership properties bring more guests that vacation more frequently. • The average year round occupancy of interval ownership resorts was over 80% • Interval owners will return to their home resorts an average of 5.5 times during the next 10 years, as compared with an average of just 2.7 times if they 9 East West Partners - Interval Ownership Presentation 4 had not purchased the ownership. (Industry research suggests that Mountain properties have an even higher level of owner usage) * When not using the property for themselves, interval owners send a friend, rent the property or trade the property. They only left it unused 9% of the time. Demographics One of the first concerns many communities have when an interval ownership property is proposed is, whom will this property attract. The demographics of the typical consumer of interval ownership property in the Vail Valley are no different than that of our high- end hotels and lodges. The Hyatt Mountain Lodge in Beaver Creek sold 750 1120th shares to approximately 400 clients in just over two years. The following statistics about these interval owners were compiled from a survey of these owners in March of 1998. 1. What they own - 20% own studios, 45% own 2 bedroom condos, and 35% own 3 bedroom condos. 2. How much they earn - 96% earn more than $100,000 per year, and 73% earn more than $150,000 per year. 3. How old they are - 47% are between 36 and 45, and 43% are between 46 and 56. 4. How much they vacation - 30% between 7 and 14 days, 33% between 15 and 21 days, and 21 % between 22 and 28 days: 5. Who they vacations with -- 61% vacation with family & Kids, 18% vacation as couples, and 16% vacation with friends. 6. What they do on vacation - 88% vacation to ski, 45% vacation to golf, and 18% vacation to play tennis. 7. Where they are from - They represent almost all 50 states plus several foreign countries, including Mexico, Great Britain, Puerto Rico, Venezuela, S. Africa, Germany, Canada, Austria, Aruba, and Panama. 10 East West Partners - Interval Ownership Presentation The owners at the Hyatt Mountain Lodge in Beaver Creek are the same clients that have ON vacationed in Beaver Creek and stayed at the Hyatt Regency for years. They, too, could have become homeowners in Beaver Creek long ago. However, they preferred the better location and the many amenities of the Hyatt Regency and other upscale hotels in the valley. When the opportunity to own a property with similar amenities and location at only the fraction of the cost of other condos, they knew what they preferred. The ease of entry and quality of the property made them owners and return guests for many years to come. The Gore Creek Club in Vail will offer this same opportunity. The clients that have enjoyed the Vail Valley for many years, but choose not to purchase a home, will find the quality, location and ease of entry very attractive. They will become interval owners in the Lionshead area and will return year after year to their property. Resale Value - Vail Valley In general terms, interval ownership is not sold as an investment to the consumer. However, the Vail Valley enjoys a unique position in the Interval ownership industry. Due to a very limited supply and a higher quality over many areas, the historical values of the newer projects in the Vail/Beaver Creek area have increased with the value of general real estate. This fact has helped to open up this type of ownership to many individuals that would not have considered it just a few years ago. Four projects in the Vail Valley currently have some sort of historical data supporting the relative increase in interval real estate values. u St. James, Beaver Creek - A resale analysis by Slifer Smith & Frampton/VARE from 1/1/94 to 11/30/97 shows an average annual return of 17.26%.* L 11 East West Partners - Interval Ownership Presentation ? The Paste Montane, Beaver Creek - A resale analysis by East West Resorts Real Estate from 1/1/93 to 2/3/97 shows an average annual return of 13.71%. ? The Marriott Streamside, Vail - The current price for a two bedroom floating winter season share is 29,900, this same property sold in 1989 for $17,900. This represents an average annual return of approximately S%. ? The Hyatt Mountain Lodge, Beaver Creek - Although this property just opened and the resale program has not fully developed, there are approximately 30 shares on the resale market. These shares are listed at approximately 40% over their purchase price from less than one year ago. Real estate values are an important factor for many consumers of interval ownership and second homes. By bringing a high quality interval ownership property to the Lionshead area, we will see an overall increase in the value of real estate and the rate at which the values grow. 10 12 East West Partners - Interval Ownership Presentation i 'Value of vacation time utilized by the owner is not factored into the return. If the cost of alternative accommodations are factored into the returns, the total return would be even greater. Interval Ownership & The Vail Valley Why not just another condominium project? The Vail Valley has been slipping in the North American Ski Industry ratings. One of the problem areas is the value and quality of accommodations. For all of the reasons previously stated, the quality of an interval ownership property tends to be higher, and the occupancy also offers the community a larger base of business. However, financially interval ownership also provides a better value to the consumer. The total cost of vacationing for a one-week stay in the Vail Valley is on the rise. With room tax and inflation, the average Vail guest can expect to spend over $50,000 dollars just on accommodations over the next 10 years. Room Rate $ 350 $ 450 $ 550 $ 6501 Year 1 $ 2,671 $ 3,434 $ 4,197 $ 4,960 Year 2 $ 2,884 $ 3,708 $ 4,532 $ 5,356 Year 3 $ 3,115 $ 4,005 $ 4,895 $ 5,785 Year 4 $ 3,364 $ 4,325 $ 5,286 $ 6,248 Year 5 $ 3,633 $ 4,671 $ 5,709 $ 6,747 Year 6 $ 3,924 $ 5,045 $ 6,166 $ 7,287 Year 7 $ 4,238 $ 5,449 $ 6,659 $ 7,870 Year 8 $ 4,577 $ 5,884 $ 7,192 $ 8,500 Year 9 $ 4,943 $ 6,355 $ 7,767 $ 9,180 Year 10 $ 5,338 $ 6,864 $ 8,389 $ 9,914 10 Year Total* $ 39,036 $ 50,190 $ 61,343 $ 72,496 *10 year total is the total dollar amount a guest can expect to pay for one 7 night stay per year 13 East West Partners - Interval ownership Presentation f Over a 10-year period assuming a 9% tax rate and 8% lodging inflation rate. 0 Value is a concern to our guests and purchasing a higher duality accommodation for less money than they would expect to pay in rent will help satisfy them. Seasonal Business The Vail Valley has come a long way in 30 years toward making this a four-season resort. However, there still exists a distinct spring and fall season. Because of the returning frequency of the owner and the international exchange network, an interval ownership property will offer a higher rate of occupancy, year round, than either a hotel or a condominium property. Location The average second home is within two hours driving distance of the owner's primary residence. The Vail Valley caters to a larger demographic than just the Front Range of Colorado. By opening up an opportunity to own just the portion of real estate that our guest uses, we are better able to attract owners that would not consider full ownership because of the distance & time constraints. E 14 East West Partners - Interval Ownership Presentation Look Who's Talking About 0 Vacation Ownership Interval ownership has been in the press a lot over the last few years. With the new found interest by the public and the great improvements being offered by developers, newspapers and magazines from around the country have had a lot to report. A RDA recently compiled the following list of quotes from around the country. 15 East Vest Partners - Interval Ownership Presentation JULY 13. 1998 "Four million households own time- shares, a number that has more than doubled since 1990." The Advocate JULY 12, 1998 "We're selling an experience." COASTAL LIVING NOVEMBER/DECEMBER 1997 "Timeshares are a compelling proposi- tion for any vacationer who hankers for the amenities of a resort getaway, com- bined with the creature comforts of a luxury second home. 11 Sunday News Journal AUGUST 31. 1998 "Quality of accommodations, good value, desirability of the timeshare unit, resort amenities and features, and the ability to exchange to non-U.S. resorts were cited by owners as highly- rated reasons for purchasing.7? AUGUST 24. 1997 "The number of U.S. households own- ing timeshares has reached 1,767,000, with a compounded annual growth rate of 9 percent, according to a study released by the American Resort Development Association. ? ? f-4 FORTCCLLNS jOLORC D J1 ,N AUGUST 10. 1997 "Buying a couple of weeks' ownership in a condominium or a home is sounding better and better to people on vacation.?? Investor's Business Dail r OCTOBER 1. 1997 t`More hotel firms have joined the industry, bringing it credibility. Flexible timeshare packages have made resorts more attractive to consumers. And overall, the industry has a better repu- tation than it did in its early days dur- ing the `70s. ? ? 1 SEPTEMBER 3, 1997 `According to the American Resort Development Association, 35 percent of Americans believe they have a 50-50 chance of owning a second home with- in the next 10 years. 11 Blade SEPTEMBER t, 1998 "The opportunity to exchange was ranked as the most important motiva- tion for purchasin a timeshare by owners surveyed.1 11* veWt News and Afire VVM APRIL 13, 1997 "The industry is evolving for con- sumer demand and timeshare operators continually seek ways to expand the number of vacation options.?1 dos .Angeles Mimes MARCH 25, 1997 "Timeshares are now very, very hot.77 0,4tM6 MARCH 30, 1997 "It [timeshare] has enjoyed a recent boost in popularity due to high quality resorts, increased consumer protection and a better understanding of the own- ership concept." 'lie Orlando &nfi el JULY f6 1997 "Timeshare owners to receive tax break." BAPRIL 14, 1997 "Part of the appeal is the souped-u quality and the more desirable locations.11 THE W9LL STREET JOURNAL. MAY 7. 1997 `Sales of timeshare units in Florida in 1996 totaled $817 million,'-52 percent more than in 1992, the last time indus- try sales were measured in the state.1y 9*0WO"You low" JULY 25, 1997 "Timesharing, often found with beach- front property, allows businesses and individuals to cut purchasing costs by pooling money through a management company.l s EL k,"ANCIERO JUNE 9. 1997 "Timeshare market recovers despite recession.?? Travel 50 & Beyond JUNE-AUGUST 1997 "Timeshare ownership, an industry growing by leaps and bounds and show- ing no sign of slowing. You can vaca- tion in some of the world's most desir- able places for the rest of your life." I ! H A N A G E 81 E N T NOVEMBER 16, 1998 "Baby boomers fuel growth of time- share opportunities ... the industry enjoyed a 25 percent increase in sales in 1997, with total sales of $2.72 billion in the U.S." Ocean Drive JANUARY 1998 +6 "The timeshare experience is here to stay .... Timeshares are particularly suited for families or those who like to vacation in groups.?? Patriot Ledger DECEMBER 27. 1997 "The timeshare industry is making a Weback from `80s black eye.9? Denver Rocky Mountain News DECEMBER 26. 1997 "Timeshares are better bargains than buying condos for short-term use. o,6 A-a QAMC6 _q el to MARCH 15. 1998 "Major hotel chains are jumping on the timeshare bandwagon. Y i Investor's Business Daily FEBRUARY 17, 1998 "Timeshare deals are getting better. Travelers can find flexible schedules, prices and more fun. ? l Southern Living MARCH 1998 oimeshareownership has increased nearly 900 percent since 1980." 4an,frandsco iEt mincr MAY 30. 1997 "Some hotel experts say the urban timeshare industry is on the rise.11 News Gaurd MAY 28, 1997 "Travel dreams come true with time- share exchanges. Y ? Physicians Financial News JUNE 15. 1996 "Developers are tailoring timeshares to suit wide economic spectrum. 17 Houston Chronicle JUNE 1, 1997 "Better known as timesharing, the interval form of vacation ownership allows you to buy a piece of a fully-fur- nished place for only a percentage of the cost of full ownership .... Variety is the name of the game, and there are several types of programs available so buyers are better able to match their needs. I MILWAUKEE JOURNAL SENTINEL MAY 18. 1997 "Florida's timeshare industry is booming.? Barter News APRIL-JUNE 1997 `Fact: holiday timeshares are the fastest growing segment of the U.S. travel and tourism industry. ?`?he ?'C?rion-?(dger APRIL 13, 1197 The Vail Trail MAN' 2-8. 1997 "The big players in the hospitality indus- try are rolling out the vacation ownership red carpet. They've helped polish time- share's tarnished image. Owners take a great deal of pride in their units, and there is a real sense of ownership.ts 2h0an Diego wowwtbuftc. AUGUST 10, 191)7 "They're [timeshares] a lifestyle investment." Lodging Hospitality AUGUST 1997 "Timeshares set sights on cities. Urban timeshares are growing in popularity." Scottsdale Progress Tribune JULY 29, 1997 "The vast change in the American vacation lifestyle over the last 25 years has had a profound effect on the time- share market." Senior World of San Diego JULY 1997 "Timeshares appear to be excellent alternatives to owning a vacation home, which is why the industry prefers the moniker `vacation ownership' to `time- share'. 1 1 Cornell Quarterly JUNE-JULY 1997 44owning a piece of a vacation provides consumers a hedge against cost, time, and trouble. ?? Business Monday JUNE 21, 1997 "Timeshare properties growing and gainin respect of industry and public. 17 "Nationwide, timeshare sales have soared 900 percent since 1980 and are the fastest growing segment of the travel and tourism industry.9 y Hawaii Business JULY 1997 "Today's prohibitive real estate prices have made timeshares more attractive to a broader market in comparison to condominiums.» THE KANSAS CITY STAR. JUNE 15. 1997 "Never before have Americans been so optimistic about their chances of own- ing a vacation home. Thirty-five per- cent of all U.S. households feel they have a better than ever chance of buy- ing recreational property." TIAV:.W::U JUNE 19, 1997 "Hawaii's timeshare industry attracts 292,000 visitors a year who spend $370 million in the state, according to the American Resort Development Association. p ? HAamazoo aze to JULY 15, 1997 "A home away from home - a time- sharing venture turns into vacations all over the world. It 3QAiA' REDOCK tNEtNS S MAY 28. 1997 "Timeshare; A way for visitors to own a home. Sun NOVEMBER 22, 1998 44Timesharing grows up along with the boomers.... Aging baby boomers see their value. This is a crowd that is real estate savvy, likes to use data-bases, wants flexibility in vacation planning and likes making creative investments. Timeshares meet all of these tests.... And for the busy baby boomers who want certainty in all aspects of their lives, timeshares may be the answer.77 Inner-City Express REcoRD ` DECEMBER 7, 1997 "Forget the horror stories - integft ownership is more than it's cracke to be. It has policed itself and now enjoys a good reputation among tens of thousands of tourists worldwide. ?? The Palm Beach Past NOVEMBER 9. 1997 "It's like a piece of Florida without the l? hassles of actually buying real estate. NOVEMBER 27, 1998a AUGUST 1. 1997 W#; i?&M "The timeshare business is certainly "Robust sales fuel timeshare boom.' booming. The number of timeshare NOVEMBER 2, 1997 resorts in this country has increased (Ae (f OlUmbU A patch from 240 to more than 2,000.?? DECEMBER 18, 1997 44 Satisfaction rates among Florida's timeshare owners have soared, as 90 percent report being satisfied with the services, amenities, facilities and upkeep of their resorts and units. The ability to use the vacation exchange option is cited by Florida owners as the primary motivation to purchase, and 73.9 percent state they have saved or expect to save money on vacations through ownership. f Real Estate Weekly NO-VEMBER 12. 1997 The Jewish Journal NOV'EMWER 11, 1947 "The timeshare investor is relieved of the responsibility of absenteeship own- ership for the time when he is not there, and he can choosea wide variety of locations for his annual vacation. Timeshare units are spacious, with ample room to accommodate the entire family. The savings, compared to stay- ing in a simple hotel room at a vaca- tion destination, are impressive.11 THE TAMPATMLM and Qt Uw Mintz "The industry is attractive to Wall Street's investment bankers and bro- kerage houses for a number of reasons. Compounded growth rate of the indus- try has historically been and continues to be 15 to 20 percent a year. In com- parison to the hotel industry, which until recently has been growing at 1 to 2 percent a year, this ongoing expan- sion explains the attractiveness of time- sharing to major brand names and institutional investors.9? NOVEMBER 2, 1997 "There are millions of happy owners. Otherwise, it wouldn't grow. Garden Island NOVEMBER 19, 1997 "More and more consumers are reject- ing the theory that only the upper class can afford a second home. 71 "The mass appeal of the timeshare for visitors is being able to own property, but at a reasonable price. Rather than purchasing a six-figure condo that sits empty for most of the year, timeshare owners buy time in a unit for a fraction of the price.» Vail Daily OCTOBER 5, 1997 "Fractional ownership has whole ben- efits. Times have changed and the con- cept of fractional ownership has spear- headed that change. 7y S K I I G SEPTEMBER 1998 "We figured we could break even.with- in three to four years, considering we go out West to ski twice a year. IY It 01117 +` 1 ' ri A N A G E N. E N I JULY 20, 1998 "Industry studies indicate that con- sumer acceptance has never been high- er for timeshares. The demand far out paces the supply and the trend will continue in the foreseeable future. 1! El 18 Stages FALL 1998 " ut a timeshare can certainly be a d buy for your vacation dollar. Oasically', you're buying a small piece of a vacation home - rather than the whole thing - and for many middle- class families (and couples or singles, of course), that's an affordable alternative. The accommodations are more plush and spacious than any hotel room. And if you like to vacation at a resort -® and can envision doing so for the next five to ten years - timesharing is a money saver. You're locking in your vacations ten years hence, at today's prices." Post and Courier AUGUST 3. 1998 "An emerging trend from San Francisco to Boston to New Orleans - `urban' timeshares that tout the allure of renaissance cities rather than the resort staples such as golf courses, pools and beaches.l? 4:1M. JUNE 19 9 8 "Just think for a moment about the thousands of dollars you've spent on vacation hotels over the past 10 years. Why waste all that money when you could own a share of a fancy home or condo? This rationale has convinced over 1.7 million Americans that buying into a vacation timeshare is a much bet- ter deal.lI Lodging Hospitality AUGUST 15, 1998 alt's not a cottage industry anymore, especially with the public companies. There has been a huge influx of new money. Now you have the weight and resources of Wall Street helping the industry growl r J-F THEO MCM SEPTEMBER 11, 1998 t41 traded for three weeks in Europe and spent a week in Italy, Austria and Germany. I have been to a lot of exotic places that I wouldn't have without having a timeshare.97 Record Courier JULY 18. 1998 "Some 7.5 million American house- holds own some type of recreational property " The Adru C nsdtWon JULY 29. 1998 "The idea is simple: When you buy a timeshare, you buy occupancy of a con- dominium for a specified period of time. Think of it this way: A condo is a small portion of a building, and a timeshare is a small portion of time carved out of a single condo's year. Occupancy periods are called `intervals,' almost always one week. If you want longer vacations you can buy multiple intervals.11 JULY 12, 1998 "Those who own a timeshare interval, usually a week, and are knowledgeable and flexible can maximizeJts trading power and enjoy lodging at thousands of resorts worldwide for a fraction of the cost of a comparable hotel stay. ll Arizona Business Magazine DECEMBER 1998 "The newly polished image of the timeshare industry is paying off. Sales of timeshares are booming and new resort developments are s?ringing up throughout the country.1 The Montgomery County News NOVEMBER 10, 1998 "Today, owners can swap their week in Orlando for a skiing trip in Vail, Colorado, or switch a vacation in Palm Beach for a week at the music mecca of the world, Branson, Missouri. Worldwide, there are close to 5,000 resorts to explore.11 19 HOTHBUSINE9 NOVEMBER 20. 1998 "Timeshare: Using new rules to grow a maturing industry. The industry is on the verge of becoming the darling of those in the know within the lodging industry. It offers a viable vacation alternative. And the customers are very, very happy.ll THE DEN-VM POST' NOVEMBER 8. 1998 "More and more consumers are buy- ing into the idea that owning a time- share is a cost effective way to vacation. Developers have enhanced their prod- ucts by introducing some creative pro- grams, such as bonus use, split weeks and lock-off units. These types of inno- vative options, combined with a rigor- ous regulatory climate and a growing number of exchange opportunities, have enhanced the success and popular appeal of the timeshare concept." thchn1eicgo wou-Wil?utic. AUGUST 23. 1998 "Exchange companies tarp into time- share owner wanderlust.? JULY 12, 1998 "Timeshare market is on the rise." New Haven Register JULY 12, 1998 "Traveling `boomers' are becoming timeshare vacation traders.ll ASBURY ? PARK 1PRESS OCTOBER 11. 1998 "Timeshare indust7 has recovered from troubled past.l 0.5 AngC1o oil M ero NOVEMBER 1. 1998 "Timeshare exchanges take baggage out of ownership. More buyers are swapping their holdings for equivalent digs elsewhere, breathing new life into the industry. ? I 1 %' 1 !7, A N A G E K E N T1` NOVEMBER 2, 1998 "Record growth forces timeshares to expand recruitment efforts. There's not a lot of challenge to retain employees once they come into the industry. It's a very dynamic and fast-growth business. It's an exciting story once they get here and touch it." HEMISPHERES NOVEMBER 1998 "When you buy a timeshare, you get an ownership interest in a room or an apartment in a resort, an interest that you can sell or bequeath, and you also get the right to occupy your unit for a specific week each year. It should not be viewed as any kind of real estate investment. Nobody in the industry even suggests that anymore. It should be looked at as a prepaid vacation.77 Selling to Seniors DECEMBER 1998 "Timeshares are increasingly attractive to empty nesters and an older popula- tion because they like the predictable accommodations, convenience and quality timeshares offer.1? The Commercial Appeal JULY 13, 1998 44Timeshares boom in the `90s to 4 million.l? The Times-Picayune JULY 19, 1998 "The resort-area timeshare can be a far more comfortable and convenient place to stay than a conventional hotel. You can enjoy more space and living facilities than you typically get in a hotel. And the ability to exchange worldwide means you can enjoy the .apartment experience virtually any- where. S 1 Modern Maturity JUNE 1998 { You pay ahead of time for lifetime .tt 1 use. After the seventh year, that vaca- tion. is costing just maintenance and exchange fees. And you're an owner. Sun-Sentinel JULY 12, 1998 "Sunny days are back for timeshares; new laws, prominent names sway con- sumers.7 7 NeOrleans CITYBC-r?iN_Ess OCTOBER 19, 1998 "Timesharing allows owners to feel a sense of continuity without the hassles that go with ownin0 a conventional vacation property.? oRT DF k 6,04 n J z 'Vouvxo ARDA LAS VEGAS SUN APRIL 21. 1998 "This positive climate has permittele timeshare resorts, in turn, to cultivate an upscale, loyal visitor base and con- tribute economically.?? WAYLAND TowNCRiLmL;1 OCTOBER 8. 1998 "Home away from home: vacation get- aways rise in ppularity as baby boomers age. ? Cornell I.R.A. Quarterly OCTOBER-NOVEMBER 1998 "For buyers, the attractions of a VOI (vacation ownership interval) purchase include being able to stay at an ameni- ty-laden resort of known quality, as well as the prospect of putting their interval into a pool in exchange for a stay at other resort locations at various times other than the interval they originally purchased.11 Inman News Features NOVEMBER 19. 1998 "Timeshares have never been more popular as wing boomers begin to see their value.' DECEMBER 1998 "Why are timeshares springing up next to ski hills? Because people want them. Timeshares attract many people for their convenience, the opportunity to trade, and low cost relative to buying property. II 1220 L STREET, N.W. -SUITE 50@0• WASHINGTON, D.C. 20005-4018 202,371'6700 FAX 202`289'8544 wWW.ARDA. 0RG a. .tamed vacation-ownership lustry is growing by 16 percent a ar -- with more and more nsumers buying into the idea it owning a timeshare is a cost. ective way to vacation. The American Resort tvelopment Association :irtates that about 4.5 million useholds hold a vacation Inership interest in one of more in 4,500 timeshare resorts •oughout the world. The number owners is growing even in untries where timeshare resorts not yet exist, and all indications int to continued growth in years come. In Colorado, timeshare sales ve exploded in mountain resort vns such as Breckenridge. The vn's newest vacation ownership tort, Grand Timber Lodge, :ently recorded the most prolific es in the company's 14 year proceeded to break that record three months in a row. "The sales pace has just been explosive," says Michael Millisor, a partner in the project with his brother Robert. "Everyone's getting on board." Millisor credits the success to the fact that more and more people are Millisor thinks the boon in sales is also due to the personalized amenities available at the five-star Grand Timber Lodge and the personal attention paid to consumers and their needs. "We see the trends in the industry and recognize the demands of consumers for tailor-made, affordable vacation-ownership opportunities," he says. He also points out that he personally knows each of the company's 1,700 owners. The first phase of the $25 million, ski-in/ski-out Grand Timber Lodge broke ground last fall on Peak 9 of the renowned Breckenridge Ski Resort. The project consists of 46 two-bedroom lock-off units, and 10 three-bedroom lock-off units, with prices ranging from $12,000 to $45,000, Amenities include underground parking,- indoor- outdoor swimming pool, steam and sauna room, outdoor hot tubs, massage room and 24-hour check-in desk. "This is the nicest, newest, in- FOR MOST FAMILIES, WHETHER ITS SKIING IN COLORADO OR FROLICKING IN THE SUN, TIMESHARING HAS PROVEN TO BE THE MOST COST-EFFECTIVE MEANS AVAILABLE TO TAKE FIVE STAR VACATIONS EVERY YEAR. realizing the financial benefits of owning their vacations. "Vacation ownership allows consumers to build equity and have something to pass on to their heirs, while also allowing them to vacation in the place of their choice every year;" he says. "This is an inexpensive way to take a great vacation for the rest ofyour life." town, ski-in/ski-out resort in the Rocky Mountains," Millisor says. Timeshare developers such as the Millisor's have enhanced their products by introducing some creative programs, such as bonus use, split weeks and lock-off units. These options greatly increase the flexibility of owners, allowing them, for instance, to rent out a part of their unit to recoup some costs, or use the unit for two long weekends instead of one full week. These types of innovative options, combined with a rigorous regulatorv climate and a growing network of exchange opportunities, have enhanced the ruccess and popular appeal of the timeshare concept, and have helped the vacation ownership industry shed some negative perceptions of the past. . The industry has also scored points with the entrance into the business by some big-name companies with solid reputations -- heavy hitters such as Disney, Hyatt. -Four Seasons and the Marriott. These companies are spending millions of dollars developing timeshare resorts around the world, further increasing exchange opportunities for owners. Their development of upscale, consistent products has lent credibility to the industry and helped to capture the attention of more affluent consumers: For their part, consumers are pleased with not only the idea of owning their vacations, but the reality of it as well. A 1997 survey by the American Resort Development Association found that 85.2 percent ofvacation owners were satisfied with their purchase. By all signs, the upswing in vacation ownership sales is likely to continue. The average age of today's vacation ownership buyer is -48, and with 75 million Americans projected to enter their 50s in the next 18years, the market for the timeshare industry is growing at rapid pace. The projected demand -- coupled with the current low interest rates -- make now the best time to consider vacation ownership opportunities, say the experts. Another tip from the experts: check out pre-construction sales opportunities for the best deals, prices when we move into the building." Millisor says. Meanwhile, the cost of lodging in the popular resort town continues to increase at a rapid pace, making vacation ownership opportunities seem even more appealing, if you are thinking about purchasing a timeshare, experts suggest using this formidw THE PROJECTED DEMAND - COUPLED WITH THE CURRENT LOW INTEREST RATES - MAKE NOW THE BEST TIME TO CONSIDER VACATION OWNERSHIP OPPORTUNITIES, SAY THE EXPERTS. Often the best time to buy a timeshare unit is when the resort is under construction, when prices tend to be lowest. The lower prices offered (hiring pre-construction is another likely reason that Breckenridge'., Grand Timber Lodge has sh:atttred sales records. "Grand Timber is just now coming out of the ground, so we have great pre-construction deals, but I'm confident we'll raise Determine holy much you would spend each year renting a nice vacation hotel room in the destination of your choice, and compare that amount to what a timeshare would cost per year, including' up-front expenses, annual fees and maintenance. Also make sure to chose a company with a good reputation that belongs to a reputable exchange network. i a t ''.. WIN- V It; j A., 4;N yr .?.iM--? J J t?? C0-090 -- DAILY NEWSPAPER'/ Rr DENVER POST t i Denver, CO tt Cite-(M) 354,102 (3) 490,739 F The future looks bright for the history. In July, Grand Timber rgeoning business of vacation Lodge surpassed its previous inership. Fueled by aggressive monthly sales record by a rrketing, the '$6-billion, newly whopping 70 percent, and then For instance, a time share week -^? r? ?? E h T in a two-bedroom unit in Orlando, t,l l re . ime xc anges a w - Fla., may cost $12,000, which gives ' the owner the right to use it for one O u f O h' week every year for 20 years, 30 ?.j ut Bag age P o wners years, or forever, depending on the deed. (Many weeks are deeded in a Travel: More bu ers are y hat became the number-one " Perpetuity and are handed down to h i n people bought the product, rs). e swapping their holdings Ed McMullen of Orlando, Fla., r Spread over 20 years, that's $600 for equivalent digs me-share developer for 21 a year, plus about another -$400 in annual maint nance fe Sta i s who helped Marriott and e es. y ng breathing new elsewhere enter the market and now Hilton in comparable accommodations , chairs the industry group Qmert- likely would cost twice as much. life into the industry chi Resort Development AssI . "I like the fact that I know rm 1 ?} For most travelers, the time- going to take a nice vacation every By KEN KUSMER share industry represents the year," Kim Craig said. ASSOCIATED PRESS pushy salesmen who use high- + Time shares are available in pressure sales practices in an at- every U.S. state and 90 nations, INDIANAPOLIS-Sam and Kim tempt to lure potential buyers. ? from sunny Caribbean resorts to Craig were newlyweds when they Although 90 percent of those who busy midtown Manhattan. They decided to buy a time share in Las sit through a sales pitch walk away range in price from $20,000 or more Vegas five years ago. without buying anything, there's per week for a three-bedroom Since then, they've used it ex- the other 10 percent. condo in high season, to as little as actly twice, once for just a week- The Craigs were in that group. $6,000 for a week in a studio during end. During one of their occasional trips the off-season. But they've also swapped it for to Las Vegas, a resort asked if Last year, 42% of the time weeks at Lake Tahoe and skiing at they'd listen to a pitch for owning a shares owned in the United States Vail, Colo. After their two children week of lodging there, every year. were exchanged, ARDA statistics were born, the Craigs, who moved "They got us in the door with the show. Only 39% were used by the from. San Jose, Calif., to Raleigh, free show tickets," Kim Craig, 36, households that owned them. N.C., traded it for weeks at Hilton recalled. The larger of the two exchange Head, S.C., and in the North Caro- The Craigs, bath accountants, companies, Indianapolis-based Re- lina mountains. hesitated to sign a contract, so the sort Condominiums International The Craigs are among 4 million developer sweetened the offer with Inc., arranged 1.8 million ex- households that own time shares, a more free tickets. The couple changes last year, or nearly one for number that has more than signed the next day, paying a each of its 2.3 million members, doubled since 1990. About 1.8 roil- one-time price of $8,000 for a week ; through a network of 3,200 affili- lion of those owners reside in the every year in a one-bedroom con- ated resorts. The other company, United States, where the industry dominium in the Ramada Suites Miami-based Interval Interna- has recovered from its troubled Grand Flamingo resort off the tional, has 850,000 members. RCI infancy in the 1970s. In all, people Strip. members cannot exchange through in 190 countries own time shares. Those who own a time share Interval, but about 50 resorts are Much of the credit for. the indus- interval, usually a week, and are affiliated with both companies. ` try's growth goes to two exchange knowledgeable and flexible can ' ".The idea of the exchange was . companies which, for the past 24 . maximize its trading power and j consumer need really fulfill that years, have helped time share enjoy lodging at thousands of re- bringing variety and flexibility of bring owners swap weeks they own in sorts worldwide for a fraction of to a product that otherwise would " one place for different weeks one place the cost of a comparable hotel stay said Cris- have been rather stale, ; tel DeFiaan, a former owner of RCI, which is now owned by Cendant Corp., of Stamford, Conn., the fran- chiser of the Ramada, Days Inn and Howard Johnson lodging brands. The relationship between the resorts and the exchange compa- nies is very simple, she said. "One LOS ANGELES TIMES could not exist without the other." ' s recently opened, $28- In RCI LOS ANGELES, CA million call center in Indianapolis, ypNpAy 1,391,076 700 "vacation counselors" are at N f3 V 1 1998 work handling 90,000 calls per week. In addition to incoming calls, 22 the counselors call members to solicit condo space that's in de- mand but not yet offered. Please see SWAP, C10 IE } SW -P- 2% I ntinued from C1 ofU.S. Time Shares Exchanged in'97 An RCI exchange works like this: Members place their time- share week into a pool managed by RCI and choose a week of compa- rable value deposited by another member. The company says 60% of its members' vacation requests are filled within 24 hours. Members can give up their time- share space, and request a different one, as much as two years or as little as two weeks in advance. The savvy ones learn early on how the system works. "We do try to plan our vacation a year ahead of time, so we can get the destination we want," Kim Craig said. "The thing with the trading, you have to do it early. You can do it later, but then you have to be flexible." For the service, RCI charges members $78 per year, plus ex- change fees of $110 domestic, $145 i international. Members aren't re- sponsible if the time they've given isn't taken by someone else. &RCI tries to keep the property full by offering special deals to members on unused units; typically $149 for three nights or $299 for a week. Even then, not all of the mem- bership's time share space is claimed, providing a pool of unused condominium time that RCI is making available to nonmembers who want to sample the time-share market. Beginning in August, the space will be . marketed through. E Internet auctioneer Onsale Inc. (www.onsatexom). Developers also rent out their own unsold space at rock-bottom rates to get potential buyers onto the property. One of the largest, Sunterra Resorts, sells a two-bed- room condo at Cypress Pointe less than a mile from Walt Disney World in Orlando for $444 a week in September. The catch: guests must take a 90-minute "tour" where they'll get a sales pitch. Those represent two of the ways the industry is trying to capture more of the aging baby boomers who are placing premiums on their leisure time as rewards for the, hard work they've put into. their careers. "We have this huge public that's earning more than they ever have in their life and who may be approaching semiretirement," said John Reinhardt, RCI's senior vice president of global resorts saps and service. "We're dealing with a different and changing popul tion." In more Ways than one. The demographics of time share owners are changing, said Dick Ragatz, an industry researcher since the 1970s who sold his consulting business to RCI, two years ago. Time shares originally were marketed as vacation retreats to middle-income consumers who couldn't afford a second home. The arrival of major brands such as Disney and Marriott since the mid- 1980s improved the industry's im- age, but also raised the rates. As. a result, those in the $35,000-$60,000 annual income group are being priced out- of upscale develop- ments. Ragatz ' said there's more room for budget-class developments. , "The market's going to be broadened," Ragatz said from his office in Eugene, .. Ore. Also, "I think we're going to be marketing more to singles than in the past." 23 February 24, 1999 T own of Vail Planning and Environmental Commission All iviembers 75 S. Frontage Road ,fail, Cv^ 811657 Ladies and. gentlemen: The owners and management at vantage Point Condominiums would 'like to express their concern about the future development of T ract E, located at the southwest corner of East Lionshead Circle and the South Frontage Road in Lionshead. Currently this parcel of 'land is maintained by both the Town of `Jail and Vantage Point Condom niuni Association. For at 'least the past twenty years that i have been managing vantage Point, we have maintained the western half of Tract E. Vantage Point installed a sprinkler system back in 1957, planted flower beds and trees. We also cut the grass and perform all landscape maintenance needed on the western half of Tract E. When i nioved into vantage Paint in 1979, the trees located on Tract E were no taller than ten feet. Today this stand of Colorado Blue Spruce are at least forty to fifty feet tall and are one of the most attractive features along the South Frontage Road and East Lionshead Circle. These trees also create a very effective sound barrier for the noise pollution created by the traiffic on East Lionshead Circle. Several years ago we installed a bird feeder that has attracted numerous species of birds that inhabit the trees on this parcel of land. Some of these species are, the rive Cis-ken, Mack Capped. Chickadee, Stellar Jays, several types of Finches, Ruby Throated Humming Birds in the summer and of course the obnoxious iv;agpie. Needless to say Tract E has become a very attractive "parr" enjoyed not only by Vantage Point homeowners but the public in general. 508 East Lionshead Circle • Nail, CO 81657 970-476-0364 • Unfortunately there seems to be a tivad to reduce the landscaping requirements on future redevelopment in Fail village and iionshead that we feel will be very detrimental to the overall appearance of `flail. Without adequate landscapi g Vail wi l become a city of concrete and asphalt. While i do understand there are no plans to develop 'T'ract E, the rezoning of the parking structure and "Tract E to General Use District could open the door for future development. As stated in Chapter 9 of Special and iMiscellaneous Districts, Article C - General Use District, Section 12-9C-2: Permitted Uses, one of the uses for T ract E could be, "passive outdoor recreation areas and open space." vantage Point Condominium Association would life to go on record as supporting this type of pei initted use for T Tact E. While on a map T ract E may seem like a small insignificant parcel of land, in reality in its current state it adds greatly to van's beauty. I would strongly suggest that if you have riot already done so, that you take the time to come by and inspect Tract E. If you have any questions regarding this matter, please feel free to contact me at your convenience. Sincerely, VANTAGE OINTNAIL CONDOMINIUM ASSOCIATION lit Michael D Anci, Sr. General Nianager TVID: dmd cc: Vail Town Council Vail Community Development Date Cit:+,f`' EB 2 5 1999 C7 • Jon A. Shirley 366 Hanson Ranch. Road Vail, CO 81657 Phone 970-476-5948 Fax 970-476-6053 February 19, 1999 Town of Vail Attn: Town Council, Planning And Environmental Commission 75 South Frontage Road Vail, CO 81657 To: Mayor Rob Ford and Town Council Members Planning And Environmental Commission Subject: Faessler proposal The Faessler proposal to amend the Public Accommodation Zone District is reported to be on the February 22, 1999, Planning and Environmental Commission agenda. I would like to register my strong opposition to this proposal. Our neighborhood is currently residential in character and this would totally destroy that character. Our street already has traffic congestion from the delivery trucks and the (unlawful) unloading and pick up of skiers. This would greatly increase the traffic on the street on the street and add far more pedestrians to the already crowded street. We purchased our home with the understanding that the lodges in the area would stay lodges and a change to making the area a shopping district would certainly have a detrimental effect on the value of that home. In addition I fail to see how taking what is currently lodge space and converting it to stores will help with the need for more accommodations. It would appear to me that this amendment would allow lodges to convert rooms to stores reducing accommodations and further adding to the acute problem of employee housing. Sincerely yours, 4oWAR, 42% ofU.S. zntinued from C1 Int An RCI exchange works Hke this: Members place their time- share week into a pool managed by RCI and choose a week of compa- rable value deposited by another member. The company says 60% of its members' vacation requests are filled within 24 hours. j Members can give up their time- share space, and request a different one, as much as two years or as little as two weeks in advance. The savvy ones learn early on how the system works. . "We do try to plan our vacation a year ahead of time, so we can get the destination we want," Kim Craig said. "The thing with the trading, you have to-do it early. .You can do it later, but then you have to be flexible." For the service, RCI charges members $78 per year, plus ex- change fees of $110 domestic, $145 international. Members aren't re- sponsible if the time they've given Afti isn't taken by someone else. RCI tries to keep the property full by offering special deals to members on unused units, typically $149 for three nights or $299 for a week. Even then, not all of the mem- bership's time share space is claimed, providing a pool of unused condominium time that RCI is making available to nonmembers who want to sample the time-share market. Beginning in august, the space will be. marketed through, E Time Shares Exchange* d m*' 97 ernet auctioneer Onsale Inc. ur vw.onwlexom). Developers also rent out their own unsold space at rock-bottom rates to get potential buyers onto the property. One of the largest, Sunterra Resorts, sells a two-bed- room condo at Cypress Pointe less than a mile from Walt Disney World in Orlando for $444 a week in September. The catch: guests must take a 90-minute "tour" where they'll get a sales pitch. Those represent two of the ways the industry is trying to capture more of the aging baby boomers who are placing premiums on their leisure time . as rewards for the, hard work they've put into,_their careers. "We have this huge public that's earning more than they ever have. in their life and who may be approaching semiretirement," said John Reinhardt, RCI's senior vice president of global resorts sales and service. "We're dealing with a 23 different and changing popul tion." In more ways than. one. The demographics of time share owners are changing, said Dick Ragatz, an industry researcher since the 1970s who sold his consulting business to RCI two years ago. Time shares originally were marketed as vacation retreats. to middle-income consumers who'. couldn't afford a second home. The arrival of major brands such as Disney and Marriott since the mid- 1980s improved the industry's im- age, but also raised the rates. As a result, those in the $35,000-$60,000 annual income group are being priced out of upscale develop- ments. Ragatz' said there's more room for budget-class developments. . "The market's going to be broadened," Ragatz said from his office in Eugene,.. Ore. Also, "I think we're going to be marketing more to singles than in the past." C, Interval Ownership Presentation East West Partners Table of Contents 0 • Section I Interval Ownership History Page 2-4 Section 2 Interval Ownership Benefits -- Consumer Page 5-6 Section 3 Interval Ownership Benefits- Community Page 7-12 Section 4 Interval Ownership & The Vail Valley Page 13-14 Section 5 Look Who's Talking About Interval Pages 15-23 Ownership East West Partners - Interval Ownership Presentation What is Interval Ownership? Interval ownership offers the opportunity to purchase fully furnished vacation property sold in a variety of forms, such as weekly intervals or point based usage systems. For a one-time purchase price and the payment of an annual maintenance fee,. purchasers own their portion of the vacation property in perpetuity. Owners share both the use and costs of upkeep of their unit and common facilities. There are many formats of ownership, varying both in size of the interest purchased and how it can be used. Based on the location and the demographics of the target market, intervals range in size from 1150th (giving the owner one-week per year), up to 1l2 (giving the owner 26 weeks per year). In addition the owners have multiple ways in which to use the time they own. Systems vary from a specific week in a specific unit (fixed week fixed time), to a floating system where the owner may select any week in a certain season (floating time). 0 Re-Introduction the Interval Ownership (Timeshare) Industry If you formulated your opinion about the interval ownership industry more than a few years ago, it is time to re-examine just what is happening in this business. The interval ownership industry has gone through a long maturing process. It can be characterized by three distinct phases. The industry started in the French Alps in the late sixties. It wasn't long before unscrupulous individuals in the United States found a way to exploit this good idea to their advantage. For the greater part of the seventies, timeshares were conversions of old condominium properties that were difficult to sell because of financing or lack of quality. Unscrupulous developers typically sold them with no follow-up management after the sale. This image was well ingrained in many Americans for a long time to come. 0 East West Partners - Interval Ownership Presentation The second phase of timeshare came in the early eighties. During this time period many reputable developers recognized the benefits the sub-dividing of resort real estate can offer. During this time period many developers began to purpose build timeshare properties. These were often in prime locations with prime amenities. However, the old timeshare image was still hard to dispel. It wasn't until the third phase of evolution in the industry that it finally shed its old image. The entrance of many name brand operators characterizes this phase. Marriott was the first nationally branded hotel company to change many people's opinion. They led the way in the mid-eighties and have been joined now by almost every major hotel brand including Four Seasons, Hyatt, Hilton, Ramada, and many more. With every major hotel brand now involved in this industry, most Americans are beginning to understand its benefits. They see that a reputable company is selling a quality product and staying in the business to take care of the consumer, after the sale. Interval ownership has truly matured and shed the problems associated with it in its early years. From its beginnings in the French Alps in the late sixties, interval ownership has become the fastest growing segment of the U.S. travel and tourism industry. It has enjoyed a growth rate of more than 16% per year since 1993. There are now more than 4,000 resorts located in 81 countries, with more than 3 million families in 174 countries worldwide enjoying the benefits of this ownership opportunity. Large Companies Involved in Interval Ownership Name of Company # of Project # of Total Units Disney Vacation Club 4 1,339 Fairfield Communities 20 3,680 Hilton Grand Vacations 5 566 I* I Hyatt Vacation Club 5 205 3 East West Partners - interval Ownership Presentation Marriott Vacation. Club 35 3,000 Ramada Vacation Suites 15 868 Shell Vacations LLC la ?,??? ; 70 ? 5,038 Sunterra Resorts Visatana Development Ltd. to 1,725 4 East West Partners - Interval Ownership Presentation Interval Ownership Benefits Consumer 11 Interval ownership offers the owner many benefits ranging from pride of ownership in a particular resort to the benefit of owning deeded real estate. The following list is not exhaustive, but does outline many of the tangible benefits why more than 40% of interval owners purchase additional shares, 1. Higher Quality Accommodations - Of more than 2,000 US interval owners surveyed in 1995, 83.1% responded that "certainty of quality accommodations" was a "very important" factor in their decision to purchase. By dividing the initial cost of development over the number of shares sold in a property, the total cost to each individual is greatly reduced. This allows the developer to increase the total expense for the development project, allowing him to have better locations, better amenities and higher quality interiors and exteriors. 2. Higher Level of Maintenance --- Along the same lines as item number one, a higher level of maintenance means a better assurance of quality of accommodations. In today's inflated resort real estate market, renting accommodations has become a risky proposition. The rates are high, but no one knows just what they will get. Many second homeowners buy into their resort home and spend tens of thousands of dollars to redecorate and upgrade the property. However, after just a few years in the rental pool, the quality begins to wane. The owner has only used the property five or six times, but already it is time to replace the sofa and all of the linens. They are often reluctant to make these financial outlays. However, with interval ownership, the cost of maintenance is spread over the entire group. This allows more money per unit to be collected without burdening any one owner; creating a better quality resort many years down the road. 3. Better Locations & Amenities - In today's market place, it is the overall resort experience that is selling real estate. Not just the physical property or the salesmanship. It is the relationship of the property to onsite and nearby amenities. Some examples include: the Disney Vacation Clubs located on Disney property in Orlando, the Marriott Palm Desert Resort with multiple golf courses, tennis facility East Vest Partners - Interval Ownership Presentation and full service spa, and the new RiverPointe Napa Valley property in the heart of wine country. The Vail Valley is no different. Our consumers want proximity to the slopes and a full array of on-site facilities. With the cost of land at a premium in the valley, it is only logical that these sites should be available to multiple families. 4. Exchange Network -- Along side "certainty of quality accommodation," "flexibility offered through the vacation exchange opportunity" was the second most cited reason for owning this type of property. As the size of the world shrinks, thanks to faster and less expensive travel, people are choosing to travel to a variety of locations more often. Interval International (II), an international exchange company, offers 1500 properties worldwide. Using a system of equitable exchange, an owner from the Vail Valley may choose to use a different property at the beach or even Europe. There is no feeling of being locked into one resort, like many people feel when buying a second home. II offers these owners exchanges as their gateway to the world. These four general benefits are not exhaustive, but do offer the four main reasons consumers are beginning to prefer interval ownership. In fact, two statistics reported by ARDA (the American Resort Development Association), characterize the overall satisfaction most owners are experiencing. s 41.2% of those who have owned eight years or longer have purchased additional intervals within that time. 0 85.2% of owners are satisfied with their purchase, and 76% report having their quality of life being positively impacted by their purchase. 6 East West Partners - Interval Ownership Presentation Interval Ownership Benefits -- The Community L? The biggest goal of a destination resort property is to properly yield manage their inventory. Yield management is the process of fluctuating rates in order to maximize the total occupancy of a property while simultaneously maximizing total gross revenue. However, in a destination resort such as Vail, Colorado, it is often difficult to use such a process. Thus, the number of occupied properties (Live Beds) is not optimized. In areas such as Vail, the majority of the properties are owned by individuals and, if rented, managed by an on site property management firm. There are three inherent problems facing the number of live beds in the Vail Valley. First, only a few of the owners choose to rent their properties. As an example, let's assume approximately 35% of the second home owners choose to rent their properties and the other 65% only use their properties for 21 days per year. Even at an occupancy rate of 70% for the rental properties the total occupancy for the valley drops to less than 30%. Secondly, it is difficult for the property manager to manage the yield of the properties made available. With only one owner per unit, the unit is either occupied or empty in the eyes of the owner. The property manager can not offer one room at a discount and another at a premium and have an offset positive yield. If the property manager operated in this fashion, he would be stealing from one owner to pay himself and another owner. It is precisely this problem that keeps the Vail Valley from filling our rooms more often than not. Thirdly, most of our condominium properties are not set up for transient occupancy. In order to truly attract destination resort travelers today, it is important to offer a high level of service. Many of our condominium properties do not offer front desk, concierge and bell services on site. They are operated from a remote location adding to the confusion of 9 many guests. However, most interval ownership p,uverties are set up to operate like East West Partners - Interval Ownership Presentation hotels, offering the most current amenities and services. This helps to attract and retain a higher level guest. Interval ownership is a good solution to these problems. There are several reasons why this type of ownership offers a better quality, more highly occupied property. 1. Return guests _ With the dividing of the ownership interest comes the dividing of the ownership cost. By bringing down the largest obstacle to becoming an owner (money), the Vail Valley can guarantee that guests will become owners and return year after year. 2. Higher Quality - In an industry with over an 85.2% satisfaction rating, quality of product is one of the primary reasons these owners are pleased. By dividing the cost of maintaining a property among multiple owners, there is more money to be spent on repairs and maintenance. This allows interiors and exteriors to be upgraded more often, avoiding the proverbial orange shag carpet we often see in older properties. 0 3. Live Beds - Interval owners don't come back every year. However, when they do not occupy their condo, they almost always send someone else. Interval International is the association that allows owners of one interval ownership property to trade it with another. The number of members in the organization is now in excess of 400,000 families. If one of the owners of the Gore Creek Club chooses not to use his property, one of these 400,000 customers will soon become one of the Vail Valley's newest guests. Interval International uses a system of like exchange. This means that the owner trading into the Vail Valley will be relinquishing a property of similar quality from a different destination. The demographics of the guests trading in will be very similar to the demographics of our owners. These guests are new to the valley and would not have vacationed here if they could not have exchanged their property for the Gore Creek Club. This customer base is an excellent marketing opportunity for the community. East West Partners - interval Ownership Presentation For these reasons, interval ownership has been a great solution for many resorts hoping to maximize the number of guests in town year round. The Poste Montan e Lodge in Beaver Creek is a great example of a property that helps bring guests to town y ear round, as shown by their five year total occupancy chart. _ Month 1994 1995 1996 1997 1998 January 76% 89% 90% 88% 93% February 69% 91% 95% 93% 94% March 83% 87% 91% 96% 92% April 38% 67% 77% 78% 77% May 46% 46% 49% 61% 45% June 65% 71% 70% 69% 74% July 70% 76% 81% 83% 74% August 80% 67% 80% 75% 77% September 79% 68% 72% 76% 78% October 42% 54% 58% 61% 64% November 50% 70% 64% 69% 50% December 75% 83% 72% 91% 84% 10 Yearly Average 65% 73% 75% 76% 75% This chart shows that the average occupancy of the Poste Montane Lodge is well above the expected occupancy of any hotel, and far exceeds the very best condominium rental management pool occupancy rates. Creating a larger year round clientele will ultimately help every business owner and employee in the Vail Valley. ARDA statistics help support the argument that interval ownership properties bring more guests that vacation more frequently. • The average year round occupancy of interval ownership resorts was over 80% • Interval owners will return to their home resorts an average of 5.5 times during the next 10 years, as compared with an average of just 2.7 times if they • 9 East West Partners - interval Ownership Presentation had not purchased the ownership. (Industry research suggests that Mountain properties have an even higher level of owner usage) • When not using the property for themselves, interval owners send a friend, rent the property or trade the property. They only left it unused 9%a of the time. Demographics One of the first concerns many communities have when an interval ownership property is proposed is, whom will this property attract. The demographics of the typical consumer of interval ownership property in the Vail Valley are no different than that of our high- end hotels and lodges. The Hyatt Mountain Lodge in Beaver Creek sold 750 1 /20th shares to approximately 400 clients in just over two years. The following statistics about these interval owners were compiled from a survey of these owners in March of 1998. 1. What they own - 20% own studios, 45%4 own 2 bedroom condos, and 35% own 3 bedroom condos. 2. How much they earn- 96% earn more than $100,000 per year, and 73% earn more than $150,000 per year. 3. How old they are 47% are between 36 and 45, and 43% are between 46 and 56. 4. How much they vacation - 30%fl between 7 and 14 days, 33% between 15 and 21 days, and 21%o between 22 and 28 days. 5. Who they vacations with- 61% vacation with family & Kids, 18% vacation as couples, and 16% vacation with friends. 6. What they do on vacation - 88%n vacation to ski, 45% vacation to golf, and 18% vacation to play tennis. 7. Where they are from - They represent almost all 50 states plus several foreign countries, including Mexico, Great Britain, Puerto Rico, Venezuela, S. Africa, Germany, Canada, Austria, Aruba, and Panama. 10 fast Mst Partners - Interval Ownership Presentation The owners at the Hyatt Mountain Lodge in Beaver Creek are the same clients that have vacationed in Beaver Creek and stayed at the Hyatt Regency for years. They, too, could have become homeowners in Beaver Creek long ago. However, they preferred the better location and the many amenities of the Hyatt Regency and other upscale hotels in the valley. When the opportunity to own a property with similar amenities and location at only the fraction of the cost of other condos, they knew what they preferred. The ease of entry and quality of the property made them owners and return guests for many sears to come. The Gore Creek Club in Vail will offer this same opportunity. The clients that have enjoyed the Vail Valley for many years, but choose not to purchase a. home, will find the quality, location and ease of entry very attractive. They will become interval owners in the Lionshead area and will return year after year to their property. Resale Value -- Vail Valley In general terms, interval ownership is not sold as an investment to the consumer. However, the Vail Valley enjoys a unique position in the Interval ownership industry. Due to a very limited supply and a higher quality over many areas, the historical values of the newer projects in the Vail/Beaver Creek area have increased with the value of general real estate, This fact has helped to open up this type of ownership to many individuals that would not have considered it just a few years ago. Four projects in the Vail Valley currently have some sort of historical data supporting the relative increase in interval real estate values. u St. James, Beaver Creek - A resale analysis by Slifer Smith FramptonNARE from 1/1/94 to 11/30/97 shows an average annual return of 17.26%.* n I1 East tnt;st Partners - Interval Ownership Presentation ? The Poste Montane, Beaver Creek - A resale analysis by East West Resorts Real Estate from 1!1/93 to 2/3197 shows an average annual return of 13.71%. ? The Marriott Streamside, Vail -- The current price for a two bedroom floating winter season share is 29,900, this same property sold in 1989 for $17,900. This represents an average annual return of approximately 5%. ? The Hyatt Mountain Lodge, Beaver Creek - Although this property just opened and the resale program has not fully developed, there are approximately 30 shares on the resale market. These shares are listed at approximately 40% over their purchase price from less than one year ago. Real estate values are an important factor for many consumers of interval ownership and second homes. By bringing a high quality interval ownership property to the Lionshead area, we will see an overall increase in the value of real estate and the rate at which the values grow. 12 East Vvest Partners - Interval Ownership Presentation *Value of vacation time utilized by the owner is not factored into the return, If the cost of alternative accommodations are factored into the returns, the total return would be even greater. Interval Ownership & The Vail Valley Why not just another condominium project? The Vail Valley has been slipping in the North American Ski Industry ratings. One of the problem areas is the value and quality of accommodations. For all of the reasons previously stated, the quality of an. interval ownership property tends to be higher, and the occupancy also offers the community a larger base of business. However, financially interval ownership also provides a better value to the consumer.. The total cost of vacationing for a one-week stay in the Vail Valley is on the rise. With room tax and inflation, the average Vail guest can expect to spend over $50,000 dollars just on accommodations over the next t0 years. Room Rate $ 350 $ 450 $ 550 $ 6501 Year 1 $ 2,671 $ 3,434 $ 4,197 $ 4,960 Year 2 $ 2,884 $ 3,708 $ 4,532 $ 5,356 Year 3 $ 3,115 $ 4,005 $ 4,895 $ 5,785 Year 4 $ 3,364 $ 4,325 $ 5,286 $ 6,248 Year 5 $ 3,633 $ 4,671 $ 5,709 $ 6,747 Year 6 $ 3,924 $ 5,045 $ 6,166 $ 7,287 Year 7 $ 4,238 $ 5,449 $ 6,659 $ 7,870 Year 8 $ 4,577 $ 5,884 $ 7,192 $ 8,500 Year 9 $ 4,943 $ 6,355 $ 7,767 $ 9,180 Year 10 $ 5,338 $ 6,864 $ 8,389 $ 9,914 10 Year Total* $ 39,035 $ 50,190 $ 61,343 $ 72,496 `10 year total is the total dollar amount a guest can expect to pay for one 7 night stay per year , 13 , East Vest Partners - Interval Ownership Presentation Over a 10-year period assuming a 9%o tax rate and 8% lodging inflation rate. Value is a concern to our guests and purchasing a higher quality accommodation for less money than they would expect to pay in rent will help satisfy them, Seasonal Business The Vail Valley has come a long way in 30 years toward making this a four-season resort. However, there still exists a distinct spring and fall season. Because of the returning frequency of the owner and the international exchange network, an interval ownership property will offer a higher rate of occupancy, year round, than either a hotel or a condominium property. Location The average second home is within two hours driving distance of the owner's primary residence. The Vail Valley caters to a larger demographic than just the Front Range of Colorado. By opening up an opportunity to own just the portion of real estate that our guest uses, we are better able to attract owners that would not consider full ownership because of the distance & time constraints. 14 East vvest partners - Interval Ownership Presentation Look Who's Talking About Vacation Ownership Interval ownership has been in the press a lot over the last few years. With the new found interest by the public and the great improvements being offered by developers, newspapers and magazines from around the country have had a lot to report. ARDA recently compiled the following list of quotes from around the country. 15 Past West Partners - Interval Ownership Presentation T H E E '- ,"f F J U N JULY 13. 1998 "Four million households own time- shares, a number that has more than doubled since 1990.1 The Advocate JULY 12, 1998 "We're selling an experience.? COASTAL LIVING NOVEMBER/DECEMBER 1997 "Timeshares are a compelling proposi- tion for any vacationer who hankers for the amenities of a resort getaway, corn-biped with the creature comforts of a luxury second home. ? 1 $u.nday News Journal AUGUST 31, 1998 "Quality of accommodations, good value, desirability of the timeshare unit, resort amenities and features, and the ability to exchange to non-U.S. resorts were cited by owners as highly- rated reasons for purchasing.7? AUGUST 24, 1997 "The number of U.S. households own- ing timeshares has reached 1,767,000, with a compounded annual growth rate of 9 percent, according to a study released by the American Resort Development Association.11 I" FORTCOLLNS ViOLOPADOAN AUGUST 10, 1997 "Buying a couple of weeks' ownership in a condominium or a home is sounding better and better to people on vacation.7y Investor's &jsiness Daily OCTOBER I. 1997 "More hotel firms have joined the industry, bringing it credibility. Flexible timeshare packages have made resorts more attractive to consumers. And overall, the industry has a better repu- tation than it did in its early days dur- ing the '70s.17 i Jim SEPTEMBER 3, 1999 "According to the American Resort Development Association, 35 percept of Americans believe they have a 50-50 chance of owning a second home with- in the next 10 years. Bede SEPTEMBER 7, 1993 "The opportunity to exchange was ranked as the most important motiva- tion for purchasin a timeshare by owners surveyed.1 The DeWt Nt m and AW APRIL 13, 1997 "The industry is evolving for con- sumer demand and timeshare operators continually seek ways to expand the number of vacation optionsa1 too Angelesimes MARCH 25, 1997 {Timeshares are now very, very hot." &4,tw MARCH 30, 1997 "It (timeshare] has enjoyed a recent boost in popularity due to high quality resorts, increased consumer protection and a better understanding of the own- ership concept.I ? Mie O rlmdo & ntlnel JULY 16 1997 "Timeshare owners to receive tax break.31 am" My APRIL 14. 1997 "Part of the appeal is the souped-u quality and the more desirable locations.11 THE W9LL STREET JOURNAL. MAY 7, 1997 "Sales of timeshare units in Florida in 1996 totaled $817 million, 52 percent more than in 1992, the last time indus- try sales were measured in the state.» Ae* 1W* JULY 25, 1997 "Timesharing, often found with beach- , ru:it property, allows businesses and individuals to cut purchasing costs by pouiing money through a management company. _ 1 EL ftt ;ANCIERO@ JUNE 9, 1997 0 "Timeshare market recovers despite recessional Travel 50 Beyond JUNE-AUGUST 1997 "Timeshare ownership, an industry growing by leaps and bounds and show- ing no sign of slowing. You can vaca- tion in some of the world's most desir- able places for the rest of your life." H A N A G E M 6 N 9' NOVEMBER 16, 1998 "Baby boomers fuel growth of time- share opportunities ... the industry enjoyed a 25 percent increase in sales in 1997, with total sales of $2.72 billion in the U.S." Ocean Drive JANUARY 1998 0 "The timeshare experience is here to stay .... Timeshares are particularly suited for families or those who like to vacation in groupsa? Patriot Ledger DECEMBER 27, 1997 "The timeshare industry is making a Weback from `80s black eye. 17 Denver Rocky Mountain News DECEMBER 26, 1997 "Timeshares are better bargains than buying condos for short-term use. 77 os Angeles gimeo MARCH 15, 1998 "Major hotel chains are jumping on the timeshare bandwagon. ? a lnvestoxOs Business Daffy FEBRUARY 17, 1998 "Timeshare deals are getting better. Travelers can find flexible schedules, prices and more fun. ? ? Southern Living 0, MARCH 1998 imeshare ownership has increased nearly 900 percent since 1980.11 all,ha wisco kaminer MAY 30, 1997 "Some hotel experts say the urban timeshare industry is on the rise.77 News Gaurd MAY 28, 1997 "Travel dreams come true with time- share exchanges. I I Physicians Financial News JUNE 15, 1996 "Developers are tailoring timeshares to suit wide economic spectrum. 0 Houston Chronicle JUNE 1, 1997 "Better known as timesharing, the interval form of vacation ownership allows you to buy a piece of a fully-fur- nished place for only a percentage of the cost of full ownership .... Variety is the name of the game, and there are several types of programs available so buyers are better able to match their needs. ? MILWAUKEE JOURNAL SENTINEL MAY 18, 1997 "Florida's timeshare industry is booming. s ? Barter News APRIL-JL7N E 1997 "Fact; holiday timeshares are the fastest growing segment of the U.S. travel and tourism industry." (ri0n-(>ger APRIL 13, 1497 "The vast change in the American vacation lifestyle over the last 25 years has had a profound effect on the time- share market. I? Senior World of San Diego JULY 1997 "Timeshares appear to be excellent alternatives to owning a vacation home, which is why the industry prefers the moniker `vacation ownership' to `time- share'.IJ Cornell Quarterly JUNE-JULY 1997 44owning a piece of a vacation provides consumers a hedge against cost, time, and trouble.I ? Business Monday JUNE 21, 1997 `Timeshare properties growing and gainin respect of industry and public. l 17 The Vail Trail MAY 2-S. 1997 "The big players in the hospitality indus- try are rolling out the vacation ownership red carpet. They've helped polish time- share's tarnished `m4t,,. Owners take a great deal of pride in tl-eir units, and there is a real sense or ownership.?? the pan 1hegu *dmbbultc. AUGUST 10, 1997 "They're [timeshares] a lifestyle investment. ?I Lodging Hospitality AUGUST 1997 "Timeshares set sights on cities. Urban timeshares are growing in popularity." Scottsdale Progress Tribune ) U LY 29, 1997 "Nationwide. timeshare sales have soared 900 percent since 1980 and are the fastest 5rowing segment of the travel and tourism industry. ?J Hawaii Business JULY 1997 "Today's prohibitive real estate prices have made timeshares more attractive to a broader market in comparison to condominiums. ? ? THE KANSAS CITY STAR. JUNE 15, 1997 "Never before have Americans been so optimistic about their chances of own- ing a vacation home. Thirty-five per- cent of all U.S. households feel they have a better than ever chance of buy- ing recreational property." TRAVE. WEEK Y JUNE 19, 1997 "Hawaii's timeshare industry attracts 292,009 visitors a year who spend $370 million in the state, according to the American Resort Development Association, 11 Kalamazoo Gazette ? . ra;>??ci l >? tam% cr NE% & REcoRD JULY 15, 1997 NOVEMBER 22, 1998 DECEMBER 7, 1997 "tA home away from home - a time- sharing venture turns into vacations all over the world." QNA'? RDd 15 ?? c?NEWS MAY 28, 1997 "Timeshare: Away for visitors to own a home.) Sun AUGUST 1, 1997 "Robust sales fuel timeshare boom.?9 At 60111mhus '1i-spad DECEMBER 18, 1997 "Satisfaction rates among Florida's timeshare owners have soared, as 90 percent report being satisfied with the services, amenities, facilities and upkeep of their resorts and units. The ability to use the vacation exchange option is cited by Florida owners as the primary motivation to purchase, and 73.9 percent state they have saved or expect to save money on vacations through ownership. i Real Estate Weekly NOVEMBER 12, 1997 "The industry is attractive to Wall Street's investment bankers and bro- kerage houses for a number of reasons. Compounded growth rate of the indus- try has historically been and continues to be 15 to 20 percent a year. In com- parison to the hotel industry, which until recently has been growing at 1 to 2 percent a year, this ongoing expan- sion explains the attractiveness of time- sharing to major brand names and institutional investors.7? "Timesharing grows up along with the boomers.... Aging baby boomers see their value. This is a crowd that is real estate savvy, likes to use data-bases, wants flexibility in vacation planning and likes making creative investments. Timeshares meet all of these tests.... And for the busy baby boomers who want certainty in all aspects of their lives, timeshares may be the answer.?? Inner-City Express NOVEMBER 27, 1998 "The timeshare business is certainly booming. The number of timeshare resorts in this country has increased. from 240 to more than 2,000,11 The Jewish Journal NOVEMBER 11, "The timeshare investor is relieved of the responsibility of absenteeship own- ership for the time when he is not there, and he can choose a-wide variety--- of locations for his annual vacation. Timeshare units are spacious, with ample room to accommodate the entire family. The savings, compared to stay- ing in a simple hotel room at a vaca- tion destination, are impressive.11 THE TAWATMLM >w ox NOVEMBER 2, 1997 "There are millions of happ? owners Otherwise, it wouldn't grow. Garden Island NOVEMBER 19, 1997 `More and more consumers are reject- ing the theory that only the upper class can afford a second home. 7? ?tForget the horror stories - rote ownership is more than it's cracked to be. It has policed itself and now enjoys a good reputation among tens of thousands of tourists worldwide. ?1 The Palm Beach Post NOVEMBER 9, 1997 "It's like a piece ofFlorida without the hassles of actually buying real estate.11 lea q404 Kno-0 NOVEMBER 2, 1997 "The mass appeal of the timeshare for visitors is being able to own property, but at a reasonable price. Rather than purchasing a six-figure condo that sits empty for most of the year, timeshare owners buy time in a unit for a fraction of the price.11 Vail Daily OCTOBER 5, 1997 "Fractional ownership has whole ben- efits. Times have changed and the con- cept of fractional ownership has spear- headed that change.I ? SEPTEMBER 199.8 "We figured we could break even with- in three to four years, considering we go out West to ski twice a year. I Y -?I A N A C E M E N T JULY 20, 1998 "Industry studies indicate that con- sumer acceptance has never been high- er for timeshares. The demand far out paces the supply and the trend will continue in the foreseeable future." 18 Stages FALL l1>98 t ut a timeshare can certainly be a d buy for your vacation dollar. sically, you're buying a small piece of a vacation home - rather than the whole thing - and for many middle- class families (and couples or singles, of course), that's an affordable alternative. The accommodations are more plush and spacious than any hotel room. And if you like to vacation at a resort and can envision doing so for the next five to ten years - timesharing is a money saver. You're locking in your vacations ten years hence, at today's prices.? Post and Courier AUGUST 3, 1998 "An emerging trend from San Francisco to Boston to New Orleans - `urban' timeshares that tout the allure of renaissance cities rather than the resort staples such as golf courses, pools and beaches.y? JUNE 1908 "Just think for a moment about the thousands of dollars you've spent on vacation hotels over the past 10 years. Why waste all that money when you could own a share of a fancy home or condo? This rationale has convinced over 1.7 million Americans that buying into a vacation timeshare is a much bet- ter deal." Lodging Hospitality AUGUST 15. 1998 "It's not a cottage industry anymore, especially with the public companies. There has been a huge influx of new money. Now you have the weight and resources of Wall Street helping the industry grow.? Joy 0 SEPTEMBER 11, 1998 tt1 traded for three weeks in Europe and spent a week in Italy, Austria and Germany. I have been to a lot of exotic places that I wouldn't have without having a timeshare.?? Record Courier JULY 18, 1998 "Some 7.5 million American house- holds own some type of recreational property " The Adara C-.?i ".jtkt)1 JULY 29. 1998 "The idea is simple: When you buy a timeshare, you buy occupancy of a con- dominium for a specified period of time. Think of it this way: A condo is a small portion of a building, and a timeshare is a small portion of time carved out of a single condo's year. Occupancy periods are called `intervals,' almost always one week. If you want longer vacations you can buy multiple intervals.? JULY. 12, 1998 "Those who own a timeshare interval, . usually a week, and are knowledgeable and flexible can maximize,,its trading power and enjoy lodging-at thousands---- of resorts worldwide for a fraction of the cost of a comparable hotel stay.?? Arizona Business Magazine DECEMBER 1998 "The newly polished image of the timeshare industry is paying off. Sales of timeshares are booming and new resort developments are springing up throughout the country. 1 The Montgomery County News NOVEMBER 10, 1998 "Today, owners can swap their week in Orlando for a skiing trip in Vail, Colorado, or switch a vacation in Palm Beach for a week at the music mecca of the world, Branson, Missouri, Worldwide, there are close to 5,000 resorts to explore.11 19 HOIRBUSINM. NOVEMBER 20. 1998 "Timeshare: Using new rules to grow a maturing industry. The industry is on. the venue of becoming the darling of those in the know within the lodging industrv. It offers a viable vacation alternative. And the customers are very, very happy.lJ THE DENVER PM NOVEMBER 8. 1998 "More and more consumers are buy- ing into the idea that owning a time- share is a cost effective way to vacation. Developers have enhanced their prod- ucts by introducing some creative pro- grams, such as bonus use, split weeks and lock-off units. These types of inno- vative options, combined with a rigor- ous regulatory climate and a growing number of exchange opportunities, have enhanced the success and popular appeal of the timeshare concept." 1??tAu?x?I?ult?. AUGUST 23. 1998 "Exchange companies tq into time- share owner wanderlust.7 NEWS-PRESS JULY 12. 1998 "Timeshare market is on the rise." New Haven Register JULY 12, 1998 "Traveling `boomers' are becoming timeshare vacation traders,?? ASBURY $ PARK PRESS OCTOBER 11. 1998 "Timeshare industry has recovered from troubled past. Cob."Nugim 91=6 NOVEMBER 1, 1908 "Timeshare exchanges take baggage out of ownership. More buyers are swapping their holdings for equivalent digs elsewhere, breathing new life into the industry.77 Ho oi+el NOVEMBER 2. 1998 t t Record growth forces timeshares to expand recruitment efforts. There's not a lot of challenge to retain employees once they come into the industry. It's a very dynamic and fast-growth business. It's an exciting story once they get here and touch it.1 HEMISPHERES NOVEMBER 1998 "When you buy a timeshare, you get an ownership interest in a room or an apartment in a resort, an interest that you can sell or bequeath, and you also get the right to occupy your unit for a specific week each year. It should not be viewed as any kind of real estate investment. Nobody in the industry even suggests that anymore. It should be looked at as a prepaid vacation.)? Selling to Seniors DECEMBER 1998 "Timeshares are increasingly attractive to empty nesters and an older popula- tion because they like the predictable accommodations, convenience and quality timeshares offer.11 The Commercial Appeal JULY 13, 1998 "Timeshares boom in the `90s to 4 million.77 The Times-Picayune JULY 19, 1998 "The resort-area timeshare can be a far more comfortable and convenient place to stay than a conventional hotel. You can enjoy more space and living facilities than you typically get in a hotel. And the ability to exchange worldwide means you can enjoy the apartment experience virtually any- where.» Modern Maturity JUNE 1998 "You pay ahead of time for lifetime use.:diter the seventh year, that vaca- tion is costing just. maintenance and exchange fees. And you're an owner.11 Sun.-Sentinel JULY 12, 1998 "Sunny days are back for timeshares; new laws, prominent names sway con- sumers., 7 New Orleans CIT.YBINESS OCTOBER 19, 1998 "Timesharing allows owners to feel a sense of continuity without the hassles that go with ownin a conventional vacation property.? O'KV DE `C O? V011,0D ARD LAS VEGAS SUN' APRIL 21, 1998 "This positive climate has permitt timeshare resorts, in turn, to cultivate an upscale, loyal visitor base and con- tribute economically:77 WAYLAND TomCRtLR&tL,4 OCTOBER 8. 1998, "Home away from homer vacation get- aways rise in popularity as baby boomers age. 77 Cornell H.R.A. Quarterly OCTOBER-NOVEMBER 1998 For buyers, the attractions of a VOI (vacation ownership interval) purchase include being able to stay at an ameni- ty-laden resort of known quality, as well as the prospect of putting their interval into a pool in exchange for a stay at other resort locations at various times other than the interval they originally purchased.?? 0 Inman News Features NOVEMBER 19., 1998 `Timeshares have never been more popular as wing boomers begin to see their value.? DECEMBER 1998 "Why are timeshares springing up next to ski hills? Because people want them. Timeshares attract many people for their convenience, the opportunity to trade, and low cost relative to buying property.? 7 1220 L STREET, N.W.r SUITE 50QO' WASHINGTON, D.C. 20005-4018 202'371.6700 FAx 202'289'8544 ' www.ARDA. 0RG -tamed vacation-ownership lustry is growing by 16 percent a ar -- with more and more nsumers buying into the idea it owning a timeshare is a cost- ective way to vacation. The American Resort welopment Association a` rt tes that about 4.5 million useholds hold a vacation ,nership interest to one of more in 4,500 timeshare resorts nughout the world. The number owners is growing even in untries where timeshare resorts not yet exist, and all indications int to continued growth in years come. In Colorado, timeshare sales ve exploded in mountain resort vns such as Breckenridge. The vn's newest vacation ownership Fort, Grand Timber Lodge :ently recorded the most prolific es in the company's 14 year proceeded to break that record three months in a row. "The sales pace has just been explosive," says Michael Millisor, a partner in the project with his brother Robert. 'Everyone's getting on board." Millisor credits the success to the fact that more and more people are Millisor thinks the boom in sales is also due to the personalized amenities available at the five-star Grand Timber Lodge and the personal attention paid to consumers and their needs. "We see the trends in the industry and recognize the demands of consumers for tailor-made, affordable vacation-ownership opportunities," he says. He also points out that he personally knows each of the company's 1,700 owners, The first phase of the $25 million, ski-in/ski-out Grand Timber Lodge broke ground last fall on peak 9 of the renowned Breckenridge Ski Resort. The project consists of 46 two-bedroom lock-off units, and 10 three-bedroom lock-off units, with prices ranging from $12,000 to $4500. Amenities include underground parking; indoor- outdoor swimming pooh steam and sauna room, outdoor hot tubs, massage room and 24-hour check-in desk. "This is the nicest, newest, in- FOR MOST FAMILIES, WHETHER ITS SKIING IN COLORADO OR FROLICKING IN THE SUNJIMESHARING HAS PROVEN TO BE T14E MOST COST-EFFECTIVE MEANS AVAILABLE TO TAKE FIVE STAR VACATIONS EVERY YEAR. realizing the financial benefits of` owning their vacations. "Vacation ownership allows consumers to build equity and have something to pass on to their heirs, while also allowing them to vacation in the place of their choice every year." he says. "This is an inexpensive way to take a great vacation for the rest ofyour life." town, ski-in/ski-out resort in the Rocky Mountains," Millisor says. Timeshare developers such as the Millisor s have enhanced their products by introducing some creative programs, such as bonus use, split weeks and lock-off units. These options greatly increase the flexibility of owners, allowing them, for instance, to rent out a part of their unit to recoup some costs, or use the unit for two long weekends instead of one full week. These types of innovative options, combined with a rigorous regultuoty climate and a growing network of exchange opportunities, have enhanced the success and popular appeal of the timeshare concept, and have helped the vacation ownership industry shed some negative perceptions of the past. . The industry has also scored points with the entrance into the business by some big-name companies with solid reputations -- 'heavy hitters such as Disney, Hyatt.-Four Seasons and the Marriott. These companies are spending millions of dollars developing timeshare resorts around the world. further increasing exchange opportunities fnr owners. Their development of upscale, consistent products has lent credibility to the industry and helped to capture the attention of more affluent consumers:. For their part, consumers are pleased with not only the idea of owning their vacations, but the reality of it as well A 1997 survey by the American Resort Development Association found that 85.2 percent of vacation owners were satisfied with their purchase. By all signs. the upswing in vacation ownership sales is likely to continue. The average age of today's vacation ownership buyer is '48. and with 75 million Americans projected to enter their 50s in the next 18years, the market for the timeshare industry is growing at rapid pace. The projected demand -- coupled with the current low interest rates -- make now the best time to consider vacation ownership opportunities, say the experts. Another tip from the experts: check out pre-construction sales opportunities for the best deals. prices when we move into the building," Millisor says. Meanwhile, the cost of lodging in the popular resort town continues to increase at a rapid pace, making vacation ownership opportunities seem even more appealing, If you are thinking about purchasing a timeshare, experts suggest using this formula: THE PROJECTED DEMAND - COUPLED WITH THE CURRENT LOW INTEREST RATES - MAKE NOW THE BEST TIME TO CONSIDER VACATION OWNERSHIP OPPORTUNITIES, SAY TIME EXPERTS. Often the best time to buy a timeshare unit is when the resort is under construction, wlien prices tend to be lowest. The lower prices offered during pre-construction is anwher likely reason that Rreckenridge'v Grand Timber Lodge has shnucied sales records. "Grand Timber is just now coining out of the ground. so we have great pre-construction deals, but I'm confident we'll raise Determine how much you would spend each year renting a nice vacation hotel room in the destination of your choice, and compare that amount to what a timeshare would cost per year, including' up-front expenses, annual fee's and maintenance. Also make sure to chose a company with a good reputation that belongs to a reputable exchange network. C?p CD-1150 -,_ .. OAIV NEWSPAPER DENVER POST I Denver, CU Clrc-(MI 354,102 (S) 490,235, The future looks bright for the history. In July, Grand Timber rgeoning business of vacation Lodge surpassed its previous rnership. Fueled by aggressive monthly sales record by a irketing, the 36-6illion, newly whopping 70 percent, and then For instance, a time share week S- E h K in a two-bedroom unit in Orlando --iare i une xc ange..s a e Fla., may cost $12,000, which gives the owner the right to use it for one O r f O hi week every year for 20 years, 30 ut Bag age o wners P years, or forever, depending on the deed. (Many weeks are deeded in ¦ Travel: More buyers are "That became the number-one " perpetuity and are handed down to h i reason people bought the product, e rs). swapping their holdings said Ed McMullen of Orlando, Fla., Spread over 20 years, that's $600 uivalent digs for e a time-.share developer for 21 ? a year, plus about another $400 in annual maintenance fe St i q years who helped Marriott and es. ay ng breathing new elsewhere . Hilton enter the market and now in comparable accommodations , chairs the industry group Amen- likely would cost twice as touch. life into the industry i qw Resort Development Ash, °I like the fact that 1 know rm ,/,) For most travelers, the time- going to take a nice vacation every By KEN KUSMER share industry represents the year,," Kim Craig said. ASSOCIATED PRESS pushy salesmen who use high- Time shares are available in pressure sales practices in an at- every U.S. state and 90 nations, INDIANAPOLIS--Sam and Kim tempt to lure potential buyers. from sunny Caribbean resorts to Craig were newlyweds when they Although 90 percent of those who busy midtown Manhattan. They decided to buy a time share in Las sit through a sales pitch walk away range in price from $20,000 or more Vegas five years ago. without buying anything, there's per week for a three-bedroom Since then, they've used it ex- the other 10 percent. condo in high season, to as little as actly twice, once for just a week- The Craigs were in that group. ` $6,000 for a week in a studio during end.. During one of their occasional trips the off-season. But they've also swapped it for to Las Vegas, a resort asked if Last year, 42% of the time weeks at Lake Tahoe and skiing at they'd listen to a pitch for owning a shares owned in the United States Vail, Colo. After their two children week of lodging there, every year. were exchanged, ARDA statistics were born, the Craigs, who moved "They got us in the door with the show. Only 39% were used by the from. San Jose, Calif., to Raleigh, free show tickets," Kim Craig, 36, households that owned them. N.C., traded it for weeks at Hilton recalled. The larger of the two exchange Head, S.C., and in the North Caro- The Craigs, both accountants, companies, Indianapolis-based Re- lina mountains. hesitated to sign a contract, so the sort Condominiums International The Crafgs are among 4 million developer sweetened the offer with Inc,, arranged 1.8 million ex- ex- households that own time shares, a more free tickets. The couple changes last year, or nearly one for number that has more than signed the next day, paying a each of its 2.3 million members, doubled since 1990. About 1.8 mil- one-time price of $8,000 fora week through a network of 3,200 affili- lion of those owners reside in the every year in a one-bedroom con- ated resorts. The other company, United States, where the industry dominium in the Ramada Suites Miami-based Interval Interna- has recovered from its troubled Grand Flamingo resort off the tional, has 850,000 members. RCI infancy in the 1970s. In all, people Sip, members cannot exchange through in 190 countries own time shares. Those who own a time share Interval, but about 50 resorts are Much of the credit for. the indus- interval, usually a week, and are affiliated with companies. ` try's growth goes to two exchange knowledgeable and flexible can . The idea of the exchange- was of the companies which, for the past 24 maximize its trading power and j really fulfill that consumer need years, have helped time share enjoy lodging at thousands of re- bringing variety and flexibility of bring owners swap weeks they own in sorts worldwide for a fraction of to a product that otherwise would one place for different weeks the cost of a comparable hotel stay. have been rather stale,, said Cris- somewhere.else. tel DeHaan, a former owner of RC1, which is now owned by Cendsnt Corp., of Stamford, Conn., the fran- chiser of the Ramada, Days Inn and ?Howard Johnson lodging brands. ` The relationship between the resorts and the exchange compa- nies is very simple, she said. "One LOS ANGELES TIMES could not exist without the other." ' s recently opened, $28- In RCI LOS A N G E t. E 5, CA million call center in Indianapolis, suNDAY 1,391,076 700 "vacation counselors" are at N Q V 1998 work handling 90,000 calls per week. In addition to incoming calls, 22 the counselors call members to solicit condo space that's in de- mand but not yet offered. Please see SWAT', CIO n ? ?- '42% of U. S. 41,0n#inued from C1 Int An RCI exchange works like this. Members place their time- share week into a pool managed by RCI and choose a week of compa- rable value deposited by another member. The company says 60% of its members' vacation requests are filled within 24 hours. Members can give up their time- share space, and request a different one, as much as two years or as little as two weeks in advance. The savvy ones learn early on how the system works. . "We do try to plan our vacation a year ahead of time, so we can get the destination we want," Kim Craig said. "The thing with the trading, you have to do it early. .You can do it later, but then you have to be flexible." For the service, RCI charges members $78 per year, plus ex- change fees of $110 domestic, $145 international. Members aren't re- sponsible if the time they've given Jft isn't taken by someone else. CI tries to keep the property full by offering special deals to members on unused units, typically $149 for three nights or $299 for a week. Even then, not all of the mem- bership's time share space is claimed, providing a pool of unused condominium time that RCI is making available to nonmembers who want to sample the time-share market. Beginning in August, the space will be _ marketed through Time Share Exchanged '97 ernet auctioneer Onsale Inc. (www.onwlexom). Developers also rent out their own unsold space at rock-bottom rates to get potential buyers onto the property. One of the largest, Sunterra Resorts, sells a two-bed- room condo at Cypress Pointe less than a mile from Walt. Disney World In Orlando for $444 a week in September. The catch: guests. must take a 90-minute "tour" where they'll get a sales pitch. Those represent two of the ways the industry is trying to capture more of the aging baby boomers who are placing premiums on their leisure time as rewards for the, hard work they've put into._their careers. "We have this huge public that's earning more than they ever have in their life and who may be approaching semiretirement," said John Reinhardt, RCI's senior vice president of global resorts saps and service. "We're dealing with a different and 'changing popul tion." In more ways tharn__orie. The demographics of time share owners are changing, said Dick Ragatz, an industry researcher since the 1970s who sold his consulting business to RCI two years ago. Time shares originally were marketed as vacation retreats- to middle-income consumers who . couldn't afford a second home. The arrival of major brands such as Disney and Marriott since the mid- 1980s improved the industry's im- age, but also raised the rates. As a result, those in the $35,000-$60,000 annual income group- are being priced out- of upscale develop- ments. Ragatz'said there's more room for budget-class developments. . "The market's going to be broadened" Ragatz said from his office in Eugene, Ore. Also, "I think we're going to be marketing more to singles than in the past." 23 PLANNING AND ENVIRONMENTAL COMMISSION Ll March 8, 1999 Minutes MEMBERS PRESENT: Greg Moffet John Schofield Galen Aasland Public Hearing MEMBERS ABSENT: Ann Bishop Brian Doyon STAFF PRESENT: Russ Forrest Dominic Mauriello George Ruther Judy Rodriguez 2;00 p.m. Greg Moffet called the meeting to order at 2:00 p.m. A request for a worksession to discuss the establishment of Special Development District No. 36 {Antler's} , to allow for a residential expansion of 24 new condominiums, and 7 new employee housing units, located at 680 W. Lionshead Place/ Lot 3, Block 1, Lionshead Third Filing. Applicant: Antlers Condominium Association, represented by Robert LeVine Planner: Jeff Hunt Jeff Hunt gave an overview of the staff memo. Greg Moffet asked if the applicant had anything to add. Rob Levine said he was hoping for a final in two weeks and wanted to hear the PEC's concerns. He said the roof element had been changed and rock had been added as this had been an architectural concern. Greg Moffet asked for any public comments. There were no public comments. Galen Aasland said the 14' parking space was too small for a parking spot. Greg Moffet said the units were just over enough to require more parking and said that the project was booked heavily as short-term with weekly turnover. Galen Aasland said if a parking space was represented as a parking space, it needed to meet the standards. He said in terms of stacking spaces, you couldn't stack employee spaces in front of guest spaces. He agreed that the shuttle service had really changed this industry and said that since the landscaping was close to 20%, it was ok. He suggested knocking off the southeast corner of the swimming pool, as it was dangerous. Diane Golden said she didn't like the stacked spaces, but suggested stacking employee to employee, since allowances could be made since they were on the shuttle. She agreed that landscaping should be 20% and also to knock off the corner of the swimming pool. Tom Weber said the setback was alright, but the applicant needed to come up with an analysis of how many parking spaces would be needed since they are on the bus route and don't want to get into the parking management business. He suggested adding additional landscaping by the pool to bring up the total landscaping to 20%; possibly adding to the berm on the other side of the pool. Planning and Environmental Commission 1 Minutes March 8, 1999 Rob Levine stated that the eastern part of the property was owned by the Town of Vail. John Schofield suggested working with the Marriott on the west side, as it was not real attractive, He suggested going one more level down to address the parking, as he said he disagreed and thought parking was needed. He said make the spaces work with using a real size space, otherwise, people end up taking two spaces. He said if the applicant could come up with numbers showing more parking was not necessary, that would help. He said he would like the numbers showing loading trucks could tit in the radius as well as a fire truck. He said he agreed with the others regarding the swimming pool and suggested a joint venture on a pool with the Marriott. Greg Moffet said the Marriott was corporately owned and would not be agreeable dealing with an association. He said the setbacks were fine, but without enough parking you will be creating problems for yourselves. He suggested before going to Council, that the applicant come in with evidence ratios. He said he liked where the swimming pool was. He said to formalize an agreement with the Town and encouraged a lease with perhaps the applicant maintaining the landscaping on the east. He said he agreed with the staff's recommendation on loading. Galen Aasland said you had significantly less conference rooms than the Marriott, and so the parking generation was different. Rob Levine said they don't market their conference facilities for people outside the Antlers. Architectural Character Rob Levine presented a model. Greg Moffet asked for any public comment. There was no public comment. Galen Aasland said the entrance was starting to get better, but he said it was unacceptable on the east and west sides and it needed to wrap better. He said this design perpetuates the Lionshead look. He said to make changes on the east and west side, and he saw opportunities to make changes on the roofs. He said he did appreciate the stone on the bottom. Diane Golden said the entrance was fine, but the decking needs to be made more interesting, perhaps with some design. Rob Levine said the railings would be open. He said the owners would like them to remain pickets as they are now, but that debate was still going, on. Galen Aasland said the applicant was risking monotony and suggested putting glass around the athletic club. He said this project needed to add significant interest on the roof, with more variation. Rob Levine stated they were concerned about the great variation from the existing building. Dominic Mauriello said they were using the same room design as the existing building. Rob Levine stated that these units needed to stay rentable and if they became more expensive, they would be less rentable. He said the outdoor balcony made it more rentable. Using the Austria Haus as an example, he said what they did would not work for what we are trying to do. Tom Weber said the massing and courtyard are right there, but they needed to break up the eave where it goes into the dormer to break the continuous band. He suggested knee braces at the decks and he had no opinion on open or closed railing. He said he liked the east elevation better than the west elevation because it had more glass. He suggested a copper look rather than the Planning and Environmental Commission 2 Minutes March 8, 1999 green with more articulation of structure at the eave lines, perhaps with metal shingles. John Schofield echoed the comments from the other Commissioners, with the addition of heating the interior driveway because of the shade. He agreed with Galen on the east and west elevations, that they needed to get it right and he said that the stone was definitely a;step in the right direction. Tom Weber suggested vertical wood siding on the upper taller units to break up the north elevation. He encouraged a study an enclosed walkway. Greg Moffet agreed with Tom to do some more interesting things with the roof to create more architectural interest. He suggested talking to Nancy Sweeney, AIPP, to discuss art and the interest issue for the balconies. Dominic Mauriello suggested going back to the DRS for a conceptual, before coming back to the PEC. Greg Moffet agreed that the DRB would be helpful and take the model as it was, before changes were made. 2. A request for a major amendment to Special Development District No. 7 (The Marriott Hotel) and a conditional use permit, to allow for the construction of the Gore Creek Club and a remodel to the existing hotel, located at 714 Lionshead Circle / Marriott Mark. Applicant: HMG Acquisition Properties, Inc., represented by East-West Partners Planner: George Ruther George Ruther said the PEC was making a recommendation to Council for the major amendment, but that a final decision would be made on the conditional use permit. He then gave an overview of the staff memo. CONDITIONAL USE PERMIT: Greg Moffet asked for any public comments. There were no public comments. John Schofield asked the applicant if the proposed percentage of 1120th shares was open-ended or part of this approval. Henry Pratt , of Gwathmey Pratt Architects, said that fractional fee clubs were defined as interval clubs with 1 night or less or a maximum of 1/12 . George Ruther said a maximum or minimum could be placed as a condition on the approval Greg Moffet said there could be an amendment to the conditional use permit. Galen Aasland made a motion to approve the request for a conditional use permit for interval ownership for the Gore Creek Club Tract A, as detailed in the staff memo. John Schofield seconded the motion. The motion passed by a vote of 5-0. George Ruther gave an overview of the major amendment. Planning and Environmental Commission Minutes March 8, 1998 Dominic Mauriello said buildings could encroach upon setbacks in a build to line or on adjacent properties 10', per the Lionshead Master Plan. Henry Pratt said a setback would not be more than 7'. George Ruther said staff thought 7' was reasonable, as long as there was an approved landscape plan. Henry Pratt said this project was the same as presented in January at the pre-ap meeting and they had been working on the designs for over 18 months. He said this met the new design guidelines in letter and intent. He said he tried, to make each of the buildings look. different to reduce the apparent size of the project and there was very little impact on light and shading and neighbors. He said there were steeply, sloping roofs to bring them more in line with the walls. He said the 66 new time share units had varied roof elements to make it very clear that there were different from the existing hotel. He stated that the only impact was along the creek and along Lionshead Circle. He said landscaping was at a minimum level and that they were getting rid of some of the tennis courts and volleyball courts, but that they still anticipated a permanent special events tent. He stated that the Marriott was not interested in sharing the pool. He said they were creating new ehu's in the building where the ski storage was, totaling 10 pillows. He said that they were running behind schedule right now and that it met the intent of the Lionshead Master Plan. He explained the rationale for the 30°1 density ratio, because they almost doubled the required ehu's which were on-site, being in excess of what the Town required. He said the manager would have a residence on-site and there would be improvements to the existing loading and delivery. He said they couldn't change the existing building and were proposing a two-berth loading dock to create 3 usable loading docks and was the best they could do with the existing hotel. He explained that the new building could accommodate any LIPS or other vans and that there would be no restaurants in the new building. He said that laundry tended to show up in smaller vans and that trash would be roiled out from inside the building. He said ownership would make it more complicated, as the hotel would retain their parking. He said Peter Dan was here from Fast Vilest Hospitality to explain the loading. Greg Moffet said we would need to see the easement recorded for any loading management agreement. Chuck Madison explained when we go through the platting process, we will go through the legal access at that time and we were aware that would have to be addressed. George Ruther said that when a loading truck was parked on the west side of Lionshead Circle, staff would need to know that there would be another place to go. Henry Pratt said there were 5 loading berths, which met the minimum requirement. He said they were proposing to do one wing per off-season, if you want to call it phased or not. He said he had no problem with Condition #1, and that regarding Condition #2, they had 6 units or 10 pillows and that regarding Condition # 3, they were on the agenda for the April 7th DRB meeting. He said Conditions #4 & #5 were a discussed and that Condition #6 was not a problem and the Town had asked us to extend a simple concrete path sidewalk to the west day lot and Condition #7 allowed us to grade onto VA's site. He mentioned that Condition #8 had roofs overhanging onto the sidewalk and there was no problem with Condition #9. He said regarding Condition #10, that they should not be required to snowmelt the property in front of the west day lot. He said regarding Condition #11 that the area between the retail and the pedestrian was very tight for landscaping, but that it could be put by the street. He said the streamwalk in Condition #12 was already in and they would negotiate with staff for wildflower seeds as it was in our best interest. He did have a problem with Condition #13 to upgrade the Frontage Road as the Lionshead Master Plan was proposing to relocate the road, so this condition didn't make sense. He said they were spending millions of dollars to upgrade the property and this condition was a Planning and Environmental Commission 4 Minutes March 8, 1999 disincentive and so he wanted this condition removed entirely. 491 Greg Moffet asked for any public input. There was none. George Ruther said regarding Condition #5, that the access was needed for the lower level of the parking structure. He explained that the addition of landscaping was a condition per the DRB's approval. He explained the unheated section of West Lionshead Circle was for a pedestrian connection. He said regarding Condition #8, that the area of encroachment might be an opportunity to exchange some of the existing private land adjacent to the streamtract. He said there were some opportunities for improvements and benefits. Tom Weber stated that 90% of deliveries were UPS or FedEx for the Gore Creek Club, so he didn't see much delivery happening and that 10 pillows were good enough. He said he didn't agree with the wording in Condition #13, but he thought developments should pay for impacts, as it wouldn't make sense for taxpayers to pay for new development. John Schofield asked how large the banquet facility was and how often it was used. He said there was not enough parking for banquets and he was concerned how parking would be handled when some of the parking went away. Henry Pratt said the hotel had gone to valet parking for all events. He stated that the parking structure was underutilized and they were not making any changes to how the existing hotel was operated. John Schofield said he was comfortable with the height, loading dock and the setbacks on the west. Chuck Madison said the garage would be accessed from the top level. He said the two lower levels would have internal ramps and a delivery vehicle could go from the alley to the top and circulate down to the lower levels. He said there would be reciprocal access easements with the, valet. Galen Aasland said, although impressed with the model he was concerned with the height and the parking, as there was a significant deviation from the height. He said he was bothered by the inconsistency of the amount of deviation from the height. He said the applicant hadn't demonstrated a need for the two towers, so he said he would need to tell me why this is the best and he would need to sell me on the big masses . He felt the project needed smaller towers and also a manager on-site. He said he was fine with the loading, but that banquets had always been a problem. He said the applicant would have to demonstrate that this was acceptable, but in his mind, he was a little short. Henry Pratt said, in terms of the height, there was no height restriction on landmark elements. Dominic Mauriello said there could be flexibility with the height of large buildings in the Lionshead Master Plan. George Ruther said the intent of the guidelines was to get a sloping roof . Russ Forrest said each individual area of the Lionshead Master Plans was discussed and this is a new set of rules. Chuck Madison said the two landmark elements were trying to break up the box look. He said they were starting with 85' across, but there was no additional square footage; this was merely an architectural feature. Planning and Environmental Commission 5 Minutes v March 8, 1999 Diane Golden had no objection with the height, but would love to see an ehu in the Gore Creek Club. Chuck Madison said we could never find a manager who wanted to live on-site. Diane Golden asked if the guests were only going to use valet parking. Chuck Madison stated that was the way it was now. Greg Moffet stated that if you stayed at a first class hotel, you dealt with a valet. He said he differed from his fellow Commissioners, as he thought the parking was fine. He said a manager's unit was needed in the Gore Creek Club, because the hotel and Gore Creek Club were not commonly owned. Henry Pratt stated that there would be a 24-hr. desk. Dominic Mauriello said there was no such requirement for a time-share. Greg Moffet said to deed restrict the easement and record the plat, regarding the loading. He said that this building was specifically delineated as a special case. He mentioned that there were real opportunities for AIPP to integrate functional art pieces here with no greater impact than landscaping. He thought this complied with the code, but would dike an on-site ehu in the Gore Creek Club, the loading/delivery plan be recorded and platted, the building be trimmed back off the sidewalks, as set forth in the memo, that snowmelting occur in front of lot A only, that public art be substituted, particularly at the front entrance, and delete Condition #13 and require this applicant to pay a pro-rate as it relates to the Frontage Road impact. Russ Forrest said Greg Hall has a ballpark number concerning the Frontage Road impacts. Greg Moffet said he would like to see a number prior to Council approval, as it relates to the Frontage Road impact. He suggested an additional condition to hide the mechanical. John Schofield said by adding 61 parking spaces, the total would be 355 spaces and 66 rooms to the Gore Creek Club. He asked what the average occupancy of the hotel was. Chuck Madison said between 60°1b-70% approximately. Peter Dan said managers on-site don't work out, as they didn't want to deal with problems on a 24-hr. basis. Greg Moffet said all the ehu's were now on the neighbor's property. He understood about manager burnout, but one is needed on-site. John Schofield said a 24-hr. desk was not required. Henry Pratt asked to just put in an ehu and not a manager's unit. Tom Weber said this is about the code and I'm going against it, as an on-site ehu was not needed. George Ruther said it would gain acceptance in the community to have this facility. Henry Pratt said a manager's unit would do away with the number of pillows in Town and the 24 --hr desk can be made a requirement. Planning and Environmental Commission 6 Minutes March 8, 1999 John Schofield suggested a choice of either a 24-hr. desk or an ehu. Greg Moffet asked what kind of assurance could they have if the owner of the land decided they didn't want to do business anymore. Chuck Madison said a fixed number of parking spaces could be allocated to the Gore Creek Club and said they wouldn't be successful if we didn't spell it out up front allocated by deed to them. He said the spaces would be allocated to use the top floor (1 per unit) for the Gore Creek Club and the hotel would use the lower floors. Greg Moffet said this still sounds like they are still encountering problems for events. Henry Pratt said they took the approach that the parking was grandfathered and this was a new project. He said they had heard nothing from management that parking was a problem. He said they had to learn how to park that structure and no new spaces can be added to that structure. John Schofield made a motion for approval in accordance with the findings on page 18 and Conditions 1,2, 6 with the change that the ehu's be deeded with no less than 10 pillows, with a 24-hr desk or ehu on- site, Conditions #3,#4, #5 with loading in the alley off-street, Conditions #6,#7„#8„#9, #10 with the heated snowmelt continuous to the applicant's property and not further to the west, Condition #11 with landscaping approved by the DRB, Condition #1 „#13 that before the final reading with the Town Council, the applicant enter into a Frontage Road agreement and that we recommend to the DRB some other shingle than asphalt. Tom Weber seconded the motion. Diane Golden said to amend the motion to include AIPP art in the landscaping. Greg Moffet said so amended. George Ruther suggested to include the change to Condition #5 to say recorded and platted. Henry Pratt said asphalt shingles was an approved material in the Lionshead Master Plan. He said his shingle was a 40-yr. top-notch shingle, so this restriction was not in accordance with the Lionshead Master Plan. John Schofield stated it was a recommendation, not a condition. George Ruther suggested amending it to read instead of "prior to the final (2nd )reading, could we say prior to the 1St reading. John Schofield said to leave it prior to the 2nd reading see, as there could be changes on the 1 St reading. The motion passed by a vote of 5-0. 3. A request for a final review of a proposed locker room and loading dock expansion to the Dobson Ice Arena, located at 321 E. Lionshead Circle/Lot 1, Block 1, Vail Lionshead 2nd Filing. Applicant: Vail Recreation District Planner: George Ruther TABLED UNTIL MARCH 22,1999 Planning and Environmental Commission 7 Minutes March 8, 1999 4. A request for a variance from Section 12-6D-9 (Site Coverage) of the Town of Vail Municipal Code, to allow for site coverage in excess of 20%, located at 362 Mill Greek Circle 1 Loft 9, Block 1, Vail Village First Filing. Applicant: Walter Forbes, represented by Gwathmey-Pratt Architects Planner: Allison Ochs TABLED UNTIL MARCH 22, 1999 5. A request for a variance from Section 12-6D-6 of the Town of Vail Municipal Code, to allow for an encroachment into the required side setbacks, located at 3003 Bellflower Drive / Lot 9, Block 6, Vail Intermountain. Applicant: Mr. Guillermo Huerta Planner: George Ruther TABLED UNTIL MARCH 22,1999 6. A request for an amendment to Special Development District No. 4 (Glen Lyon), revising the Glen Lyon Office Building site (Area D), located at 1000 S. Frontage Road West/Lot 54, Glen Lyon Subdivision. Applicant: Glen Lyon Office Building Partnership, represented by Kurt Segerberg Planner: Dominic Mauriello TABLE[ UNTIL APRIL 26,1999 Mane Golden made a motion to table the above items. John Schofield seconded the motion. The motion passed by a vote of 5-0. 7. Information Update Dominic Mauriello said the ordinance to rezone Lionshead was approved by the Town Council. Russ Forrest advised that advertising for the PEC and DRB would continue for another 3 weeks and a new position was being created for DRB, since the PEC rep on the DRB was being removed. Three, two-year term PEC vacancies (Greg Moffet, John Schofield and Ann Bishop) 8. Approval of February 22, 1999 minutes. Diane Golden, Tom Weber and Galen Aasland had changes. [Mane Golden made a motion to approve the minutes as amended. John Schofield seconded the motion. The motion passed by a vote of 5-0. John Schofield made a motion to adjourn. Planning and Environmental Commission 8 Minutes March 8, 1999 Tom Veber seconded the motion. The motion passed by a vote of 5-0. The meeting adjourned at 5.05 p.m. Planning and Environmental Commission 9 Minutes Larch 8, 1998