HomeMy WebLinkAboutCASCADE VILLAGE WESTHAVEN COMMON 2 LEGALDepartment of Community Development
75 South Frontage Road
Vail, Colorado 81657
970-479-21i8
FAX 970-479-24s2
www.ci.vail.co.us
October 6,2000
Mr. Jerald Wuhrman
Westhaven/Cascade LLC
Post Office Box 3098
Tequesta, FL 33469-0098
Fax- 561/745-7347
Sent Via Fax and US Mail
Dear Mr. Wuhrman,
I received your fax this moming. I appreciate you responding to the Town's offer. If it
would work for you and your partners, the Town of Vail will keep the offer open, as is,
until Monday, October 16, 2000 at 5:00 PM. Please advise us if this will be enough time
for you to speak with your partners. You can reach me at970/479-2144 orBob
Mclaurin, Town Manager et 97 0/ 47 9 -21 05.
Sincerely,
l^z-
/ lU'ral I i.ltut ti,lltt*ttt",tnor--
\JI
NinaTimm
Housing Coordinator
Town of Vail
Robert Mclaurin, Town Manager
R. Thomas Moorhead, Town Attomey
Russell Forrest, Director of Community Development
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Town of Vail
75 S Frontage Rd
Vail/CO/81657
Phone: 9701479-2144, Fax: 9701479-2454
printed portions of this form have been approved bv thc Colorado Real Estate Commission. (CBS 3-9-99
THIS FO[{M HAS IMPORTANT LEGAI CONSEQUENCES AND TIIE PARTIES SHOULD CONSULT LEGAL AND TAX
OR O'IHER COUNSEL BEFORN SIGNING.
CONTR,\CT TO BUY AND SELL REAL ESTATE
(vAcANT LAND -FARlr - RANCH) (CASH AT CLOSTNG)
Daic: sentemher- 28 - 2000
1. AGRI-_EIIENL_Buyer agrees to buy and the undersigned Seller agrees to sell the Property defined below on thc tcrms and
conditions set forth in this contract.
2. DEFINEDfERMS.a. Buyer, Buyer,
Town of vaiL, a municipal corporation
will take title to the real property described below or I Joint Tenants D Tenants In Common El Oth..
b. Propertv. The Property is the tbllorving legally described real estate:
A.85 acre parcel in Sw1/4 NE1/4 Section 12 Township 5 South, Range 81 West
in the County of r:aql e . Colorado. commonlv known as No.
1325 westhaven Drive Vail co 81657
Street Address City State Zip
together rvith the intcrcsts, easements, rights, benetits. improverncnts and attached fixturcs appurtenant thereto, all intcrcst of Seller in
vacaled streets and allcys adjacent thercto, except as herein excludcd.
c. Dates and Deadlines.
Itcnr No. Reference Event Date or Deadline
I $5a Loan Aonlication Deadlinc n/a
2 $5b Loan Commitment Deadline n/a
J S5c Buver's Credit Information Deadline n/a
A Disapproval of Buyer's Credit Deadlinc n/a
5 $5d Existins Loan Documents Deadline ^/a
6 s\ 5d Objcction to Existing Loan Deadline n/a
7 $5d Aooroval of Loan Transfer Deadline n/a
6 $6a Annraisal Deadline ^/a9$7a Title Deadlinc october 2a, 2000
l0 $7a Suney Deadline n/a
lt $7b Document Request Deadlinc october 20, 2000
12 $8a Title Obiection Deadline November 10, 2000
IJ $8b Off-Record Matters Dcadline October 20, 2O0O
l4 $8b Off-Record Matters Obiection Deadline November 10, 2000
l5 $10 Seller's Prooertv Disclosure Deadline october 20, 2000
l6 $ lOa Inspection Obiection Deadline November 10, 2000
I7 $ lOb Resolution Deadline Novenber 17, 2000
l8 $ ll Closing Date November 30, 2000
l9 $16 Possession Date November 30. 2000
20 $16 Posscssion Time Upon Closing
2l 28 Deadline Date october 06, 2000Acceptance
CBS 3-9-99. Contract to Buy and Sell Real Esiate (Vacant Land - Farm - Ranch)
RealFA$T@ Forms. Box 4700, Frisco, CO 80443, V€rsron 6.03, @RealFA$T@, 2000; Reg# PCOCOL228583
Completed by - Nina Timm, Town ot Vail
Page 1 ol 7
Sslle(s) _..*Buye(s) _09/27100 16i46;08
a1 $t8 Acceptxnce Deadline Time 12:00 PM Mtn Time
n/a n/a
rt/a n/a
d. Att:rchment!. The lbllowing exhibits, attachments and addcnda are a part of this contract:
nLa
e. Aoplic4-bility of Terms. A check or similar mark in a box means that such provision is appl.icable. The abbreviation
"N/A" means not applicable.
3. INCLUSIONS Ar\D EXCLUSIONS.
l. The Purchase Price includes the follorving items (lnclusions):
(1) Fixtures- II'attached to the Propcrty on the date of this contract, lighting, heating, plumbing, vcntilating, and air
conditioning t-xtures, inside telephone wiring and connecting blocks/jar:ks, plants, minors, Iloor coverings, intercom systcms, sprinkler
systems and controls; and
all improvements currently located on the property
(2) Other hclu$aas- If on the Property whethcr attached or not on the date of this contract:
slorm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings, cunain rods, drapery rods, storage
sheds, and all kcys. Check box it'included: E Smoke/l'irc Detectors, ! Securitv Systems; and
n/a
n/a
n/a
nl a
b. Instruments qf Transfer. The Inclusions are to be conveyed at Closing liee and clear of all ta.res, liens and
encumbrances, exscpt as provided in $ 12. Conveyance shall be by bill of sale or othcr applicable legal instrument(s).
Any water rights shall be conveyed by " /a deed or other applicable legal insrrument(s).
c. Exclusions. Thc following attachcd fixnrres are excludcd from this sale:
o/a
4. PURCEAS_E-PBIQI ANDI[ERMS,- The Purchase Price set forth below shall be payable in U.S. Dollan by Buyer as tbllows:
(3) lrqde_fklggct With respect to trade hxtures, Scllcr and Buyer agrcc as tbllows:
(+) !g!9r ntChls, The following legally described water rights:
(5) Grorving Crops. With respcct to the growing crops Seller and Buycr agree as tbllows:
Item No.Reference Item Amount Amount
I $4 Purchase Price $ i.,sso,ooo.oo
2 $la Eamcst Money 50,000.00
3 $4b New Loan n/a
4 $4c Assumotion Balance n/a
5 $4d Seller or Private Financing n/a
6 $4e Cash at Closing 1, 500,000.00
'1 TOTAL S r,55o,ooo.oo S 1,550,000.00
a. Earnest Money. The Eamest Money set forth in this Section, in the form of a check , is pan payment of
the Purchase Price and shall bc payable to turd hcld by sfewart 'Fir-r e . in its trusr account. on behalf ofboth Seller and
Buyer. The parties authorize delivery of the Eamest Money deposit to the Closing Company, if any, at or before Closing.
b. New I_,sea,_ [Omitted - Not Applicable]
c. Assumjrtion. [Omifted - Not Applicable]
d. Seller or Private Financing. [Omittcd - Not Applicablel
e. Cash at Closing. All amounts paid by Buyer at Closing including Cash at Closing, plus Buyer's closing costs, shall be
in funds which cornply with all applicablc Colorado laws, which include cash. elcctronic ransfer funds, certified check, savings and loan
tcller's check and cashieds check (Good Funds).
5, FINANCING CONDITIONS AND OBI,IGATIONS.
a. Loan Application. fOmitted - Not Applicable]
CBS 3-9-99, Coniract to 8uy and Sell Real Estate (Vacant Land - Farm - Ranch)
RealFA$T@ Forms. Box 4700, Frisco. CO 80443, Version 6.03. @RealFA$T@, 2000: Reg# PCOCOL228583
Completed by Nina 'nmm. Town ol Vail
Buye(s) __Page 2 ot 7
Selle(s)09/27100 16:46:08
b. LOal|-!qamrn!1rnc$- [Omined - Not Applicablelc. (lrcdit lnforuadsn . [Omitted - Not Applicable]d. -Errslilg.loan_RcIcrv. [Omincd - Not Applicable]6. APPRAISAT, PROVISIONS.
a. Appraisal Condition. This subsection u. n Shutl I Snall Not apply.
Buyer shall have thc sole option and election to terminate this contmct if the Purchase Pnce exceeds thc Properry's valuation
determined by an appraiser engaged by . The contract shall terminate by Buyer giving Seller
written notice of termination and either a copy of such appraisal or written notice liom lender which conllrms the Property's valuation is
less than the Purchasc Price, received on or before the Appraisal Deadline ($ 2c). If Seller does not reccive such written noricc of
termination on or belbre the Appraisal Deadline ($ 2c), Buyer waives any right to tcrminare under this subscction.
b.
E se[er,
Cost of Appraisal. Cost of any appraisal to be obtained aller the date of rtris contract shall be timely paid by Ll Buyer
7. EVIDENCE OF TITLf,.
r. Evidence of Title: Suryey. On or betbre Title Deadline ($ 2c), Seller shall cause to be furnished to Buyer. at Sellcr's
expense, a current comminnent for owneCs title insurance policy in an amount equal to the Purchase Price or if this box is checked, LJ
An Abstract of title certified to a currcnt date. If a title insurance commitment is fumished, it E 55o1 ! Stull Not commit to delete
or insure over thc standard exceptions whrch relate to:
(l) panies iD possession.
(2') unrecorded easements,
(3) survev matters,
(4) any unrecorded mechanics' liens,(5) gap period (etlcctive date of commitment to date deed is recorded), and(6) unpaid taxes. assessments and unredcemed tax sales prior to the year of Closing.
Any additional premium expense to obtain this additional coverage shall be pai.l by I nuyir I SeIer. An amount not to
excced S 5 . 000 lbr the cost of any improvement location certificate o, .u*y shall te pai<J by I Buyer I S.["..
If the cost excccds this amount, buver shall pay the excess on or before Closing. The irnprovement location certificate or survey
shall be reccived by Buyer on or before Survey Deadline ($ 2c). Seller shall cause the title insurancc policy to be delivercd to Buyer as
soon as practicable at or alter Closing.
b. Copies of Excepfions. On or befbrc Tifle Deadline ($ 2c), Seller, at Seller's cxpense, shall fumish to Buyer. (l) a
copy of any piats, declarations, covenants, conditions and restrictions burdening thc Property, and (2) if a title insurancc commirment is
requircd to be furnished, and if this box is checked I Copies ofany Other Documents (or, if illegible, summaries of such docurncnts)
listcd in the schedulc of cxceptions (Exceptions). Even if the box is not checked, Scller shall have the obligation to fumish thcse
documents punuant to this subsection if rcquested by Buyer any time on or bslbrc the Document Request Dcadline ($ 2c). This
requirement shall pertain only to documents as shown of record in the office of the clcrk and recorder(s). Thc abstract or title insurance
commitment. together with any copies or summaries of such documents fumished pursuant to this Scotion, constiture the title docrxncnts
(Title Documents).
8. TITLE.
a- Title Revier*. Buyer shall have the right to inspect the Title Docu.ments. Written noticc by Buyer of unmerchantabiliw
of title or of any othcr unsatisfactory titlc condition shown by the Title Documents shall be signed by or on behalf of Buyer and given
to Seller on or beibrc Title Objection Deadline ($ 2c), or within five (5) calendar days after receipt by Buyer of any Title Document(s)
or endorsement(s) adding new Exception(s) to the title cornrnitmcnt together with a copy of the Title Document adding new Exccption(s)
to title. If Seller does not receive Buyefs notice by the date(s) spccified above, Buyer accepts the condition of title as disclosed by thc Title
Documents as satisfactory.'b. Matters not Shslln lylbg Jublic Records, Scllershall deliver to Buyer. on or belbrc OIT-Record Matters Deadlinc
($ 2c) true copies of all lease(s) and survcy(s) in Seller's posscssion pertaining ro thc Property and shall disclose to Buyer all easements.
licns or other title mattcrs not sho\'r'n by thc public records of which Seller has acnral knowledge. Buyer shall have the right to inspect the
Properry to determinc if any third parry(ies) has any right in the Property not shown by the public records (such as an unrccorded
easement, unrecordcd lease. or boundary line discrepancy). Written notice of any unsatisfactory condition(s) disclosed by Sellcr or
revealed by such inspcction shall be signcd by or on behalf of Buyer and given to Scller on or beibre Off-Record Matters Objection
Deadline ($ 2c). If Scller does not receive Buyer's notice by said date, Buyer accepts title subject to such rights, if any, of third parties of
which Buyer has actual knowledge.
c. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION
INIDEB'IEDNESS THAT IS PAID BY REVENUES PRODUCED F'ROM ANNUAL 'I-AX LEVIES ON THE TA.XABLE
PROPERTY WITHIN SUCH DISTRICTS, PROPERTY OW}{ERS IN SUCH DISTRIC'IS MAY BE PLACED A'T RISK FOR
INCR-EASED MII,L LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DtrBT
WHERE CIRCUMSTANCES ARISE RESUL'IING IN THE INABILITY OF SUCH A DIS'I'RICT TO DISCHARGE SUCH
INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYER SHOULD IT\IVESTIGATE THE DEBT
FINANCING Rf,QUIREMENTS O}- THE AUTHORIZED GENERAL OBI,IGATION INDEBTEDNESS O}' SUCH
DISTRICTS, EXISTINC MILL LEVII,S OF SUCH DISTRICT SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL
FOR AN INCR.EASf, IN SUCII MILL LEVIES.
In the evcnt the Property is located within a special taxing district and Buyer desires to tenninare this contraqt as a result, if
CBS 3-9-99, Contract to Buy and Sell Heal Estate (Vacant Land - Fafm - Ranch)
RealFA$T@ Forms, Box 4700, Fnsco, CO 80443. Version 6.03, ORealFA$T@, 2000; Reg# PCOCOL2285B3
Comploled by - Nina Timm, Town ot Vail
Buysr(s) _Page 3 ot 7
Selle(s) _09/27100 16:46:08
written notice is received by Seller on or befbre Off-Record }latters Objection Deadline ($ 2c), this contract shall then tcrm.inate. [f
Seller does nol receive Buyer's noticc by such <iate, Buver acccpts the eiTect of the Propcrty's inclusion in such special taxing disrric(s)
and rvaivcs the right to so terminal.c.
d. Rigb_t 1o tlre- II'Scllcr receives notice of unmerchantabilitv of title or any other unsatisfactory title condition(s) or
commitment tcrms as provided in $ 8 a or b above. Seller shall usc reasonable eifort to correct said itenrs and bear any nominal cxpense
to correct the same prior to Closing. If such unsatist-aclory title condition(s) are not corrected on or before Closing, this contract shall
then terminate; provided, however, Buyer may. by rvritten notice rcccivcd by Seller, on or befbre Closing, rvaive objection to suqh items.e. 'fitle Adviso,ry, The Title Documents affect the title , ownership and use of tho Properry and should be reviewcd
carefully. Additionally, other matteru not rcf'lccted in the Title Documcnts may affect the title, owncrship and use of the Properw.
including without limitation boundary lines and cncroachments. area, zoning, unrecorded easements and claims of easements, leases and
other unrecorded agreernents, and various laws and governmental regulations concerning land use, dcvelopment and environmental
marters. The surl'ace estate may be owned separately tiom the underlying mineral cstate, and transfer of the surface estate does
not necesslrily include transl'er of the mineral rights. Third parties may hold interests in oil, gas, other minerals, geothermal
etrergy or water on or under the Property, which interests may give them rights to enter and use the Property, Such matters may
bc cxcluded from the title insurance policy. Buyer is advised to timeiy consult legal counsel with respect to all such marters as there are
strict time limits provided in this contract (e.g., Title Objection Deadline [$ 2cj and Off-Record lVlatters Objection Deadline [g 2c]).9. LEAD-BASED PAINT. Unless exempt, if the improvements on the Properry include one or more residcntial dwelling(s) for
which a building permit was issued prior to January l, 1978. this conract shall be void unless a completed Lead-Bascd Paint Disclosure
(Salcs) fbrm is signed by Sellcr and the required real estatc iicensee(s), which must occur prior to the parties signing this contract.10. PROPERTY DISCLOSUR-0 A^lD INSPECTION. On or bef<rre Seller's Propert-v Disclosure Deadline (g 2c), Seller
agrees to provide Buyer with a written disclosure of advcrsc matters regarding the Property completed by Seller to thc best of Seller's
current actual knowledge.
a. Inspection Objection Deadline. Buycr shall have the right to havc inspection(s) of the physical condition of the
Propcrty and Inclusious, at Buycr's expense. If the physical condition of the Propcrty or Inclusions is unsatrsfactory in Buver's subjective
discrction, Buyer shall, on or bclorc Inspcction Objection Deadline ($ 2c):
notiry Seller in rvriting that thjs contract is termhatcd, or
provide Seller with a wrincn description of any unsatislactory physical condition rvhich Buver reouires
Scller to correct (Notice to Co[ect).
If wriften notice is not received by Seller on or before Inspection Objecfion Deadlinc ($ 2c), the physical condition of the
Property and Inclusions shall bc deemcd to be satisl'actory to Buyer.
b. Resolution Deadline. Ifa Notice to Correct is received by Sellcr and if Buyer and Seller have not agreed in writing to
a scttlement thereof on or betbre Resolution Deadline ($ 2c), this contract shall tcrminate one calendar day tbllowing the Resolution
Deadline, unless belbrc such termination Seller reccivcs Buyer's written withdrarval of the Notice to Correct.c. Damage: Liens: !ade!!fn!ry- Buycr is responsible for payment for all inspections. suveys. cnginecring repons or lor
any other work perlbrmed at Buyer's request and shall pay tbr any damage which occurs to the Propertv and Inclusions as a result ofsuch
activities. Buyer shall not pcrnrit claims or liens ofany krnd against the Property fbr inspections. surveys, enginccring reports and lbr any
other work performed on thc Property at Buyer's rcqucst. Buyer a-srees to indemnif,. protect and hold Seller harmless lrom and asainst
any liabiliry, damage, cost or expense incurred by Scller in conncction with any such inspection. claim, or lien. 'l-his indemnity includes
Seller's right to recover all costs and expenses incurrcd by Seller to enforce this subsection, including Scllcr's reasonable attornoy fees.
The provisions of this subscction shall survive thc tcrmination of this contract.
ll. CLOSING. Dclivery of deed(s) lrom Scllcr to Buyer shall be at Closing (Closing). Closing shall be on the date specified as
the Closing Date ($ 2c) or by mutual asreement at an earlier date. The hour and place of Closing shall be as designatcd by
mrlI rra l r^raamant-
12. TBANSEERIEjIIILE Subject to tendcr or payment at_ Closing as rcquired herein and compliarcc by tsuyer with the other
tcrms and provisions hereof, Seller shall executc and deliver a good and sufficient qeneral warrantv deed to Buyer, at Closing,
conveying the Propcrty free and clear of all taxcs except the general taxes for the year of Closing. Exccpt as provided herein, title shall be
conveyed lree and clear of all liens, including any governmental lions tbr special improvements installed as of the date of Buycr's
signanrre hereon, whether assessed or not. Titlc shall be conveyed subjcct to:
a. those specit'ic Exceptions described by reference to recordcd documents as reflected in the Title Documents accepted by
Buyer in accordancc with g 8a [Title Review],
b. distributionutilityeasements,
c. those specifically described rights ofthird partics not shown by the public records of which Buyer has actual knowledge
and which were acceptcd by Buyer in accordance rvith $ 8b [Matters Not Shown by the Public Records], andd. inclusion ofthe Properfy within any special taxing district, and
c. the benefits and burdens ofany declaration and party wall agreements, if any, and
f. other13. PAYMENTOFENCUMBRANCES. Any
Droceeds of this transastion or from anv other sourcc.14, CLOSING COSTS: DOCUMI0,NTS AND SERVICES. Buyer and Sellcr shall pay, in Cood Funds, thcir respeclive Closing
costs and all other items required to be paid at Closing, cxcept as otherwise provided herein. Buyer and Seller shall sign and complete
all customary or rcasonably required documents rt or before Closing.Tees for real estate Closing sewiccs shall be paid at Closing by
EOne-UaffUy Buycr and One-Half bySellerE Buyer ! Se[er-[ Other n/a
CBS 3-9-99, Contract to Buy and Sell Real Estate (Vacant Land - Farm - Ranch)
RealFA$T@ Forms. Box 4700. Frisco, CO 80,143. Version 6 03, OReatFA$T@. 2000: Beo# PCOCOL22B583
Complet8d by - Nina Timm, Town of Vail
(l)
(2)
me
Page 4 oi 7
Seller(s) _
encumbrance required to be paid shall be paid at or before Closing iiom
Buyer(s) _09/27100 l6:46:08
The loca.l transfer tax of n /a % of the Purchase Price shall bcgrid at Closing by L-l Bu]'er LJ Seller. Any sales and
use tax that may accrue becluse of this transaction shall be paid when due by LJ Buver L-l Seller.
15. PROR{TIQNS. The following shall be prorated to Closing Datc ($ lc), except as otherwisc provided:
a. Taxes. Personal property taxes. lf any, and .qcncral real estate taxes for the year of Closing, based on E The Tu*et
for the Calendar Year Immediately Prcccding Closing Ll l he Most Recent Mill Lera and Most Recent -Assessment LJ Other
n /;
b. Rents- Rents based on n Rcnts Actuall!, Received fl Accrued. Security deposits heltl by Seller shall be credired to
Buyer. Sellcr shall assigrr all leases to Buycr and Buyer shall assume such leases.
- /-
C)ther Prorations. Water, sewer charges; and interest on continuing loan(s), if any; and
d. Final Settlement. Uniess otherwisc agreed in writing, these prorations shail be final.
16. POSSESSION. Possession of the Property shall be deiivered to Buyer on Possession Date and Possession Time
subject to the following leasc(s) or tenancy(s):
n/a
ig lc),
If Seller, aftcr Closing, lails to delivcr possession as specified, Se.llcr shall be subject to eviction and shall be additionally liabie
to Buycr lbr payment ofS 1 000 , per day from the Possession Date ($ 2c) until possession is delivered.
17. NOT ASSIGNABLE: This contract shall not be assignable by Buyer without Seller's prior written consent. Except as so
restrictcd, this contract shall inure to the benefit of and be binding upon the heirs, personal represcntatives, successors antl assigns of thc
partles.
18. CONDITIQN OF AND DAMAGE TO PROPERTY,\ND INCLUS . Except as olherwise provided in this oontract, the
Propcrty, lnclusions or both shall bc dclivered in the condition oxisting as of the date of this contract, ordinary wear and tear excepted.
a. easuaryJ_uEurEuee- In the event the Propcrry or Inclusions shall be damaged by fire or other casualty prior to
Closing. in an amount of not more than ten percent of the total Purchase Price, Seller shall be obligated to repair the same befbrc thc
Closing Date ($ 2c). In the event such damage is not repaired wlhin said time or if the damages cxceed such sum. this contract may bc
terminated at the option ol'Buyer by dclivering to Seller written notice of termination. Should Buyer elect to carry out this cantract
despitc such damage. Buycr shall bc cntirled to a credit, at Closing. fbr all the insurance procecds resulting liom such damage to thc
Property and Inclusions payable to Scller but not the owners' association, if any, plus the amount of any deductible provided for in such
insurance policy, such credit not to cxceed the total Purchase Pricc.
b. Oamage: Inctusions Should any lnclusion(s) or service(s) (including systems and components of the
Propcrfy, e.g. heating, plumbing, ctc.) fail or be damagcd betrvccn the date of this contract and Closing or possession, whichevcr shall be
earlicr, then Seller shall be liablc for the repair or rcplaccmcnt of such Inclusion(s) or service(s) with a unit of similar size, age and
quality, or an equivalent credit, but only to the extent that thc maintenance or replacement of such Inclusion(s), service(s) or tixture(s) is
not the responsibility of the owners' association, if any, Icss any insurance proceeds rcccived by Buyer covering such rcpair or
replacement. The risk of loss lbr any damage to growing crops. by fire or other casualty, shall be borne by the party entitlcd to the
grorving crops, if any, as providcd in $ 3 and such parry shall be entitled to such insurancc procceds or benefits fbr the grorving crops.
if any.
c. Walk-Throueh: Verification of Condition. Buyer. upon reasonable noticc, shail have the righr to rvalk tlrough the
Property prior to Closing to vcrily that the physical condition ofthe Property and Inclusions complies with this contract.
19. RECOMMBNDATION OF LEGAL AND TAX COUNSEL. By sigping this document, Buyer and Seller acklowledge that
the Selling Company or thc Listing Company has adviscd that this document has important lcgal consequences and has rccomrnended
the examination of title and consultation with legal and tax or other counsel befbre signing this contract.
20. TIME OF ESSENCE AND RELAEDIES- Time is of the essence hereof. If ary note or check reccived as Eamest Money
hereunder or any other payment due hereunder is not paid, honored or tendered when duc. or if any other obligation hcrcunder is not
pertbrmed or waivcd as herein provided, there shall be thc lollowing remedies:
a. If Buver is in Default:
U (l) SpeCrfie_BcrforuOance. Seller may elect to treat this contract as canceled, in which case all payments and
things of valuc received hereunder shall bc forfeited and retained on behali of Seller, and Seller may recover such damages as may be
proper. or Sellcr may elecr to reat this contract as being in full tbrce and etl-cct and Seller shall have the right to specific pertbrmancc
or damases. or both.
A Q\ Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Buyer and
retaincd on behalf of Seller and both parties shall thereafter be releascd from all obligations hereundcr. It is agreed that such payments
and things of value are LIQUIDATED DAMAGES and (except as provided in subsection c) are SELLER'S SOLE AND ONLY
REMEDY lbr Buyer's failure to perform thc obligations of this contract. Sellcr expressly waives the remcdies of specific perfbrmancc
and additional damages.
b. If Seller is in Dcfault: Buyer may elect to treat this contract as canceled, in which case all payments and things ol'
value received hereundcr shall be retumed and Buycr may recover such damages as may be proper, or Buyer may clcct to treat this
contract as being in full forcc and effect and Buyer shall have the right to specific perfbrmance or damages, or both.
c. Costs and Erpenses. In the event of any arbitration or litigation relating to this conftact, the arbitrator or oourt shall
award to the prevailing parry all reasonable costs and expenscs. including attomey f'ees.
21. ULDIATfON. If a dispute arises relating to this contract, prior to or after Closing, and is not resolved, the parties shall lirsr
CBS 3-9.99, Contract to Buy and Sell Real Estate (Vacanl Land - Farm - Ranch)
RealFA$T@ Forms, Box 4700. Frisco, CO 80443. Version 6.03, @RealFA$I@. 2000: Reo# PCOCOL228583
Completed by . Nina l'lmm. Town oi Vail
Buyer(s) __-09/27100 16:46:08 Page 5 ot 7
Seller(s) _
proceed in good faith to subrnit the matter to mediation. Mediation is a proccss in which the parties meet with an impartial person who
helps to resolve the dispute infbrmally and contidcntially. Mediatoru cannot impose bindins decisions. The partics ro the dispute must
agrec befbre any settlement is binding. The parties will jointly appoint an acccptable mediator and will share equally in the cost of such
mediation. The mediation. unlcss othenvise agreed. shall terminate in the event thc cntire dispute is not resolved 30 calcndar days from
the datc wrirten notice requesting mediation is sent by one parry to the other(s). This Section shall not alter any date in this contract,
unless otherwise agreed.
22. EARNEST MONEY DISPUTE. Nowithstanding any termination of this contract, Buyer and Seller agree that, in rhc event of
any controversy regarding the Eamest Money and things of value held by broker or Closing Cor:rpany (unless mutual writleo rnstructions
are receivcd by the holder of the Eamcst Money and things of value), broker or Closing Cornpany shall not be required to take any action
but may await any proceeding, or at brokcr's or Closing Cornpany's oplion and sole discretion, may interplead ail parties and deposir any
moneys or things of value into a coufi of competent jurisdiction and shall recover court costs and reasonable attomey fees.
23. TERMINATIOI{,- In the event this contract is terminatcd, all payments and things of value received hereunder shall be
rerurned and the panies shall be relieved of all obligations hereunder, subject to $$ 10c, 2l and 22.
24. ADDITIONAL PROVISIONS. (The language of these additional provisions has not been approved by the Coloracio Real
Estate Commission.)
^ /-
25.ENTIREAGRI'nThiscontractconsIifutestheentirccontract
berween the panies relating to the subject hcrcof, and any prior agrccments penaining thereto, whether oral or written. have been merged
and integrated into this contract. No subsequcnt modification of any of the terms of this conttact shall be valid, binding upon thc panies,
or enforceable unlcss made in writing and signed by the parties. Any obligation in this contract rvhich, by its terms, is intendcd to be
performed atler termination or Closing shall survive the same.
26. FACSIMILE. Signaturcs I may E Uay Not be evidenced by facsimile. Documenis with original signanues shall be
providcd to lhe other part_v at Closing, or earlier upon requcst of any party.
27. NO'I'ICE- Except lbr thc notice requesting mcdiation described in $ 21, any notice to Buyer shall be eflective rvhen received
by Buycr or by Selling Company and any notice to Seller shall be effective when reccived by Seller or Listing Company.
28. NO'IICE_OF ACCEPT,\r\CE; COUNTERPARI-S. This proposal shall cxpire unless accepted in writing, by Buyer and
Seller, as evidenced by their signatures below, and thc offering party receives notice of acceptance pursuant to $ 27 on or before
Acceptance Deadline Date and Acceptance Deadline l'ime ($ 2c). If aocepted, this document shall become a contract between Seller
and Buyer. A copy of this documcnt may be executed by each party, separately, and when each parry hus executcd a copy thereol'. such
copies taken together shall be dccmed to be a full and cornplete contract between thc parties.
Town of VaiI, a municipal corporation
[NO'l'li,: If this offer is being countered or rejected, do not sign this document. Refer to $ 291
Westhaven,/Cascade LLC
Post Office Box 3098, Tequesta, FL 33469-0098
SELLER
By: Jerald L. wuhrman
29. QQUI{TER: RLJECTION. This olfer is D Countered ! Rejected.
Initials only ofparty (Buyer or Seller) who countered or rejected offer
END OF CONTRACT
Note: Closing Instructions should be signed on or before Title Deadline.
BROKER ACKNOWLEDGMENTS. The undersigned Broker(s) acknowledges receipt of thc Eamest Money deposit spccified in
$ 4 and, while not a partv to the contruct, ag.rces to cooperate upon rcqucst with any mediation conducted under $ 21.
CAS 3-9-99, Contract to Buy and Sell Real Estate (Vacant Land - Farm - Ranch)
RealFA$T@ Forms. Box 4700, Frisco, CO 80443, Version 6.03, @RealFA$T@. 2000; Reg* PCOCOL228583
Completed by Nina Timm. Town of Vail
09/27/00 | 6:46:08 Page 6 ot 7
Selling Conqpany Broke_ruge_Belrlio4rh4t . The Sellingtl Buyer Agent Ll Seller AgenUsubagent L-.j Dual Agent
Listing Comnunv Broker:rge Relationshio. The Listine
Ll SeUer Agent Ll Dual .\gent Ll Transaction-Broker.
BROKERS' COMPENSATION DISCLOSUR.E-
Company and its licensees
LJ Transaction-Broker.
Comoanv and its licensees
have been engaged in this transaction as
have been engaged in this transaction as
Solling Company's compensation or commission is to be paid by: I Buyer ! Seler ! Ustit g Company
LJ Other
(To be comoleted bv Listins Comoanv) Listins Comnanv's comnensation or commission is to he nai<l bv' Ll Ruver LJ sctto.So be completed by Listing Company) Listing Company's compensation or conrmission is to be paid by: LJ Buyer LJ Se1er
Ll Other n/a
Selling Company:
Phone :
By:
S ignature Date
(Nune of Company)Listing Company:
Listing Company's
Listing Company's
Address: n / a
Telephone )rf6; rr /a Listing Company's Fax No:
By:
Signarure
CBS 3-9-99, Contract to Buy and Selt Feal Estate (Vacant Land - FaIm - Banch)
RealFA$T@ Forms, Box 4700, Frisco. CO 80443, Version 6.03, @FlealFA$T@, 2000; Rsg# PCOCOL228583
Completed by - Nina Timm, Town ol Vajl
Date
Paqe 7 ot 7
Selle(s) _-Buye(s) _09/27100 l6:46:08
+
of Connunity Devclopnent
75 South Ftontagc Road
uatL flolodo 81657
970479-2ri6
FAx b7o-479-zls2fl
i September28,2}}O
Mr. JeraldWuhrman
Westbavery'Cascado LLC
Post Offrce Box 3099
Tequesta, FL 33469-0098
DeaqMr. Wubnnan,.1
lAtlJ/lfuil[lt J/Fttr_'
Enclos'ed you will find an offer top.rchase l32s westhaven Drive from rhe Town ofVail. This offe,r is bcing rnaidc based on direction provided by the Vail Town Council.
The conFact has an accqrtance dcadlinc of october 6t, 2000 at 12:00 pM. If this otrer isacccptable to you closing is sohcduled to take place on
|ovember
30, 2000.
Please feel ftec to contaot me with any questions atgtOlqlg_ZtA.
P-c<A ohc<'ra and c4nrzo)
qr far*'\.'s 4ce in l-/.=xi
r4tf s"/ 67 to/ton /o/9/ao
Robert Mcl,aurin, Town Manager
R, Thomas Moorhcad, TownA-ttomey
Russell Forrest, DirecoiBf Community Development
€l
I9S
2a16/oa
Fax €6 //7-/f,7V ! 7
ktt:ycJ':tt ITAI,F),
: '$l :l$ld UISIh Ul-ElS : l.l0dltd t#zv.al nw 9a 'aao L'ELSVL
Department of Community Development
75 South Frontage Road
Vail, Colorado 81657
970-479-2138
FAX 970-479-2452
Septembcr 28, 2000
Mr. Jerald Wuhrman
Westhaven/Cascade LLC
Post Office Box 3098
Tequesta, FL 33469-0098
Dear Mr. Wuhrman.
Enclosed you will find an offer to purchase 1325 Westhaven Drive from the Town of
Vail. This offer is being made based on direction provided by the Vail Town Council.
The contract has an acceptance deadline of October 6'h, 2000 at 12:00 PM. If this offer is
acceptable to you closing is scheduled to take piace onNovember 30, 2000.
Please feel free to contact me with any questions at9701479-2144.
Sincerely,
;- .{
i't u i' t'u-,' lwwvv\uvuxr""1't'vL}.t-_-
Nina Timm
Housing Coordinator
Town of Vail
Robert Mclaurin, Town Manager
R. Thomas Moorhead, Town Attomey
Russell Forrest, Director of Community Development
{p**uo'o'o
02/L9/Ol IoN 15:51 FAX 3037511627 HASELDEN CONST
<.
The Monday Companies
6950 South Potomac Sheet-Suite 201
Englewood Colorado 801 1 2
303.799.0557 Fax 303.75 l. 1627
Mr. Bob Mclarin, Towu Manager
Town of Vail
75 South Frontage Road
Vail, Colorado 81657
RE: Westhaven/Cascadc,LLC
Dear Mr. Mclarin:
As you are aware from Mr. Wuhrman's prior advice to yorl The Monday Companies and
Haselden Construotion, Inc. have been performing due diligence in order to formalize a
joint venture with WesthaverVCascade, LLC to implcmeqt the prior approvals grantcd to
the LLC on thcir property rurder Ordinance 11.
We would like to advise you that we are nearly finished with our preliminary
invcstigation and arc moving expeditiously on the project toward construction in late
spring or summer. As such, we would like to hereby respectfirlly request your
reafFrmation of the project entitlements as soon as possible.
Our deal structue for the project will permit us to provide the Town of Vail with a copy
of payment performance and the completion bond issued by Firemans Fund Insurance
which is "A" rated.
We realize the Town has lived with this uncompleted project for some time. I am
attaching brochures of the mernbers on our "team" and I trust you will find them all to be
responsible and experienced in lodging development finance, marketing and operations.
Your prompt acknowledgement of our request would bs appreciated so that we can
continue our efforts to get the balance of our pre-construction efforts accomplished.
The Monday Companies
(
cc: Mr. Ceorgc Rudrcr, Senior Planner
Mr. Tom Moorhead, Town Attomey
@ oo2
Robcrtl. Mo\ay
Real Estate Development and Investment
,,tt
CO,pf
Department of Community Development
75 South Frontage Road
Yail, Colorado 81657
970-479-2138
FAX 970-479-2452
www.ci.vail.co.us
Novernber 27, 2000
Jerald Wurhma4 General Manager
Westhaven/Cascade LLC
Jupiter, FL.
Dear Mr. Wurhman
I received your draft letter of October 17,2000, regarding the potential for the re-instatement ofyour lg99
major special development district amendment.
As you are aware, the approval of Ordinance No.l1, Series of 1999 lapsed due to your lack of compliance
with the conditions ofapproval. Specifically, your lack of attention to securing a financial bond to cover
the cost of removing the dilapidated concrete stmctue from thc site and restoring the vegetation on the site
within the agreed upon timeframe.
I have reviewed the Vail Town Code with regard to your request. Upon review of the Code, I have
detemrined that you must submit a new application for a major amcndment to Special Development District
#4 if you wish to have your proposal considered for re-instatement. The Vail Town Council can not re-
affrrm the early approval that has now lapsed in the absence ofa recommendation fiom the Planning &
Environmental Commission and the adoption of the amendment via two readings of an amending
ordinance.
Should you have any questions or concerns with regard to the information addressed in this lettcr, as
always, please do not hesitate to call. You can reach me by telephone at 97 0-479-2145.
Sincerelv.
/-*1-Q"lnl
George Ruther, AICP
ChiefofPlanning
Town of Vail
{g *""o"to r^ro
FROM : BE-LR UISTR PHO.IE t{o. i 561 ?457347
4
Oct, 25 2AW Zfji3ztrfi Pr
)
4 / o/ z 3./oa(4Y 7 ( -- /:nx 1?o/+/zlztfz
Tovm of Vail
Atterrtion of Mr- George Ruther, Director of planning
RE: WesthaverV0ascacle project
Dear George:
(DRAFT COPY)
with no attachments
/-ef ^.e Ku-o-+*r{.F
',/-h t s /e r/eo ''^ttt4/1
A e ann'of tri ale ao/-J-
'/nll 1tt^o(ceJ h
2 "* Vt-'w "t Eua l
/''ro/? z MlA4^4'a^
k#r'/:'='1'9
, ft. srq?ts77/7
In aocordance with otrr prior disanssions and our meeting at your offices on October 1 7h,lwould like to resPecffully request the Torvn Councilto reamrm Ordinance #11 in favor of
our new joint venture as we discrls8ed based upon: 4_
1. The joint venture agreement I advised you had been entered into for the projed by
westhaven/cascade LLc with rhe Monday companies of"which itazeloen
construc{ion is a principal. Development and construction of the
weethaven/cascade project would be implemented accordingly. A copy of said
agreemgnt is attached for your reference.
2. l am submifting reference materials of the principats to the venture and the affiliatss
that would be part of the development team. I trust you will find them to be notable,
capable and creditable. With the combined experience they offer on a proiec{ of this
type a success is virtually assured.
3. In addition to the above, I am providing you with a letter of commitment from their
bonding company that will €tssure the Torrm of Vail completion of the projec{ lF the
council reafiirms the propos€d joint venture requested.
Tnpting this request will be looked upon favorably and that this matter can be scheduted
for review and prompt favorable action.
Veryhuftaours,
Jerald Wuhrman, General Manager
Westhaven/Cascade LLC
APR 18 '95
'l
1A:254t1 .W
Sanct l el CootrP
P.1
Po3l Ollica Bor 2000
V8il. Coloredo 81858
(303' t49.101I
FAX: {303) g.e'r713
April 1?, 1995
.Terald 1,, ' WuhrmanP. O. Box 598
Ed,wards, Colorado 8L63
Dear Jerryr
ART TITLD
OF EACLE COUNIY
undereuandlns of - the inethoq thi:h--yll]
Lhe'.purctra6s "of',' .
i I^'I"liIIItI.ii slquirins t!?t-!h?
'"'oi"' Iii' ;;; -IiiPi alJa vei5;'?l1g^ i3.
3 ?91 "of Easle eountrv, ii';; '-*ill-i:ly?..:it1'L',. EqY-v t Ehat a Progpecuivein, ? r:gtl::T:*:. r r.^nri r.mino trnaE theii,lrEr" l;=-"i i lali.ai e conf i?mins. .!I'+Eli:I"iliial- ana-sEe*"'! Ti! l'^Ii1 I enEUre
lotr/unit.
If yorr have anY Suefliplease grve me a carl '
SincerelY, '.
CapeII
dent
. ?t,\ .
;A ;;&i&ed before croeins on a
nE or comments regard'ing ehis proceduro'
J'j
";*i*ur.o*"-- rt
s"J
"o_
r ,od 00Pr
TOWN OFVAIL
75 South Frontage Road
Vail, Colorado 81657
970-479-2100
FAX 970-479-2157
July 8, 1999
Gerald Wurhman
Westhaven/Cascade L.L.C.
P.O. Box 598
Edwards, Colorado 81632
Rc: Revocation of Final Project Approval
Dear Jerry,
The purpose of this lctter is to provide you with written notification of the Town's revocation of the approval of the
Wcsthaven Club & Lodge (SDD#4).
As you arc aware the Town Council approved thc major amendment per Ordinance #l l, Series of 1999 with
conditions. Conditions # 9 states,
"That the approval of this major amendment to Special Devclopment District #4 shall becomc lapsed and
void one year from the date of a second reading of an ordinance arnending thc district, and that should the
approval lapse, the applicant shall bc required to remove the ruins and restore and revegetate the site by no
later than Scptember 1, 2000. A bond providing financial security to ensure that said rcmoval occurs shall
be required following second reading ofan amending ordinance. It shall bc the applicant's responsibility to
provide a cost cstimate of the removal and restoration work. 'lhe bond shall be in the arnount of a
minimum of 125% of the removal arnd rcstoration of the site costs. The bond shall be in placc within 45
days of sccond reading of this ordinance, If thc bond is not in place with the 45 day time period, the
approved developmcnt plan for the Westhaven Club & Lodge shall become null and avoid."
Since condition #9 has not been addressed within the time limitation, the approval of Ordinancc #1 i, Series of 1 999
is null and void.
Should you need to reach me, please do not hcsitate to call me at 9'70419-2145.
Sinccrelv.
fL*R^.r^t
Gcorge Ruther, AICP
Senior Planner
Town of Vail
Vail Town Council
R. Thomas Moorhead, Town Attomey
Russell Fonest, Director of Community Development
Xc:
tp *"uo'uo
revised 9/4/9L
DRB APPI,TCATTON - TOTW OF \TAIL,
DATE APPLICATION RECEIVED :
DATE OF DRB MEETTNG;
COIPR,ADO
t**t***tt*
TSIS APPI.IC'ATION WII,L NOT BE ACCEPIED
T'NTII. .e,LL REQUIRED TNFORI,IATION TS SUBT{ITTED**********r.PROJECT INFORMATTON:
A. DESCRIPTION:
B. TYPE OF REVIEW:
New Construction (9200.00)
Addition ($50.00)
ADDRESS:
LEGAL DESCRIPTTON: LoI
Subdivision
Minor Alteration ($20.00)
X, Cor,"uptua] Review (gO)
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a meets and bounds legalon a separate sheet and
D.
If property is described bydescription, please provideattach to this application.
E. ZONING:
LOT AREA: ff required,
Stamped survey showing
I.
F.
NAME OF OWNERS:
NAI'{E OF
NA},IE OF APPLICANT:
APPLICANT' S REPRESENTATIVE :
applicant must provide a current,lot area,
Mailing Address:
Mailing
*STGNATURE (S) :Mailing Acidress:
Phone
Phone
.1 .
](
Condominium Approval if applicable.
DRB FEE: DRB fees, as shown above, are to be paid atthe t.ime of subnitta] of DRB application. Liter, whenapplying for a building permit, please identify tireaccurate valuation of the proposal.. The Town of Vailwill adjust the fee according to the t,able below, toensure the correct. fee is paid.
rEE pArp: s ZEp{)
Phone
FEE SCHEDULE:
n Review Act'on F
TOWN OF VAIL
catesoryNumber th o"t" :{314I-
Project Name:
BuildingName: ,U+sf La.*- Af d5, ,A-r. A , f 0A { 4
Project Description:
owner, Address and Pnone: ( o r ..-c I L1Ju hr* ""
Architect/Contact, Address and Phone:
/\\rJt ,\, .\' t'li -,-1Lega|Description:.Lot.B|ockSubdivisjion-ZoneDistriqt1r)r\
ProjectstreetAddress: \?7S tJ+s{ l,ra.r'-- r)r.rq-
Comments:
Board / Staff Action(- //
Motion by: '--J /t L'lr
Seconded by:
!. npprovat
! Disapproval
! StaffApproval
. \ ,t\+ < LJL(- '**+,a'r' ll*1".', lct el 2 - Z )' c/ |
flt/.\,... / rur t\ t ,,t z( r.. t ,t tt,-( .
flr.r,r,/tl
,1 ''t '7 J4*!
Town Planner
o^r", ll .< f ?Y'DRB Fee Pre-paid t!, D. c,r",
ll-c
154GonrrffiuDlw
4pibr,Hcila Wl
August 4,2000
Town of Vail
25 So. Frontage Rd.
Vail, Colorado (81657)
Attention: Mr. George Ruther, Chief of Planning
Sublect Prqect Development Status
Gentlemen,
During our recent phone discussions I explained the circurnstances of why nothing
has transpired on the Westhaven/Cascade project as yet. We understand the terms
of the original Development approvals have not been complied with and intend to be
able to show you soon that we will be able to move fonrnrd promptly thereafter as
we had ALL expected.
Although the "monument" still exists in it's uncompleted status, l'm not sure removal
of the concrete paCxing structure walls would make the site any more attractive and in
fact might make it look worse with the steep grade existing from the frontage road!
The real answer is to get development under way and provide you with some
evrdence and assurance this wll occur. However, as an immediate measure we
could dress up the exterior of the structure and the adlacent streetscape.
We are not quite ready to resubmit a request to ask the Town for prermission to get
things back on track but expec{ to be able to do so by the end of this year. l am
including a copy of a Market Feasibility Study done by RCI Consulting for a financing
source with whom we are workrng. You will note that it was VERY favorable and
positive about the need in Vail for this type lodging and for the su@ess of the prqect!
I trust the Town will take this into account and bear wrth us for a whrle longer. I would
welcome the opportunity of meeting with you ancl/or the Town to discus the matter
and look forward to your early reply.
t
: c8fi*runeI
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RCI Consu.lting, lnc. is a division of RCI $
RCIo
A PnTITMINARY M,q.RKEr ANar,ysrs FoR
a FnecuoNAL lNrnnnsr OrrnmNG AT
WnsrrravnN/C.q.scADE Cr,un lxp Loucn
vArL, coLoRADO
Prepared for
Wrsnr,q,vEx/Clsceou. LLC
April2000
767 Willamette Strcet . Suitc 307 . Eugene,Oregon 97401 . 541-6A6-9335 . Fax:541-686.8142 . richard.ragarz@rcic.rci.com
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TABLE OF CONTENTS
Page
RCI Consuhing, Inc. - Eugene, Oregon lll Ilesthave Cascade: Vail. 04/00
TABLE III-I
TABLEIII-2
TABLE III-3
TABLE III-4
TABLEIII.5
TABLE III-6
TABLE III-7
TABLE III-8
TABLE III-9
TABLE III-10
TABLE III-1I
TABLE IV-l
TABLE IV-z
TABLE IV-3
TABLE IV-4
TABLE V.l
TABLE V.2
LIST OF TABLES
Paee
High-End Fractional Interest Projects ...............27
Characteristics of High-End Fractional Interest Projects......... ..-..................28
Characteristics of High-End Fractional Interest Projects..............................31
On-Site Amenities at High-End Fractional Interest Projects.....................-..32
Miscellaneous Characteristics at High-End Fractional Interest Projects......33
Annual Maintenance Fees for High-End Fractional Interest Projects ..........34
Sales Performance of High-End Fractional Interest Projects........................35
Net Sales Prices at High-End Fractional Interest Projects................-...........37
Characteristics of Selected High-End Fractional Interest Projects............... 38
Prices at Selected High-End Fractional Interest Projects................... ...........41
American Ski Company l/4-Share Projects ...-.............-.........43
Occupancy Rates, Vail, 1995 through 1998 ......,....... .............69
Average Daily Rates, Vail, 1995 through 1998.............. ........69
Sales Tax Collections, Vail, 1995 through 1998..........................................70
Integrated Averages of Seasonal Demand Indicators .............70
Number of Income-Eligible Households, Colorado, 1999 ...-..............-.-......72
All Types of Home Sales, Vail, 1989 through 1998........-............................72
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tRCI Consulting, Inc. - Eugene, Oregon lv ll e s t hav e ry'C as c ade : Va i l. 04 /00
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A Pnnr.,nmv.cny MARIGT ANALYSIS FoR
a Fnecrronlr, Irrnnrsr Orrpnnrtc A.r
WrsrrHvrx/C.c,scADn Cr-,us lrvo Loocn
VAIL, COLORADO
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I I. INTRODUCTION
! The purpose of this report is to present a preliminary market analysis for a "high-end"
I fractional interest offering at Westhaven/Cascade Club and Lodge in Vail, Colorado.
I Information in the report was obtained via: (l) interviews with appropriate public offrcials and
I others in the local arca; (2) a review of information relating to the local tourism industry; (3) a
! review ofhigh-end fiactional interest projects in the area and elsewhere; and (4) our past
I consulting and market research experience in the vacation ownership industry.
- In accord with directions from the client, this report is intentionally brief, simply
! providing an overview of the market for the proposed offering and some preliminary
conclusions.
I Foilowing the introductory chapter, Chapter II describes the subject properfy. Chapter
III reviews the high-end fractional interest industry in Vail and elsewhere. Chapter IV
I describes the local tourism industry. Chapter V discusses economic and population trends and
Chapter VI draws together findings from the preceding chapters, generates conclusionsII regarding demand and absorption rates, and makes final recommendations.
l
I nsulting, Inc. - Eugene, Oregon Westhsven/Cascade : Vail, 04/00
II. THE SUBJECT PROPERTY
The subject property for this preliminary market analysis is a 0.7-acre parcel of land
located in the Cascade Village community of Vail, Colorado.
Directly to the east and adjacent to the property is The Cascade Club and Spa' a 75,000
square foot health club and spa facility which will be an amenity available for use by
Westhaven/Cascade Club members. The project is bounded to the north by South Frontage
Road, which runs in an east-west direction and connects the various Vail communities.
Interstate 70 (also rururing east-west) is just north of South Frontage Road and to the west are
condominiums. Directly to the south is Westhaven Drive. Just across Westhaven Drive is the
291-room Vail Cascade Hotel. The Cascade Club and Spa and Vail Cascade Hotel (together
known as Vail Cascade Hotel and Club) are connected over Westhaven Drive via an enclosed
walkway.
Plans for Westhaven/Cascade Club and Lodge call for I I fiactional interest club units,
l7 transient lodging condominium-hotel units that will be sold outright to investor buyers, but
will primarily sewe as transient overnight lodging rental units, and 21 employee housing units
(per zoning requirements).
The proposed fractional interest club units will face t}re ski area to the south. All will
have some mountain views. The condominium-hotel units will face South Frontage Road to
the north with less desirable views of South Frontage Road, Interstate 70, and the foothills
opposite the ski slopes.
The project will utilize the same management as Vail Cascade Hotel and Club and the
Vail Cascade Condominiums (including 76 condominiums and private residences) and also will
enjoy use of the amenities. Hotel amenities include a concierge desk, continental restaurant,
casual creekside coddee shop, ski sports shop, gift shop, lobby lounge, room service, four hot
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TRCI Consulting, Inc. - Eugene, Oregon Westhavery'Cascade : Vatl, 04/00
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- tubs, outdoor heated pool, two movie theaters and two rentaVrepair shops. The health club and
I spa include indoor tennis courts, two racquetball courts, three squash courts, fitness center with
weights and aerobic classes. Full spa treatrnents are available. There is over 26,000 square feet
I of meeting space for groups of up to 900.
The following pages include:I
I e map of Vail locating the subject prop€rty in Cascade VillageIt 2. conceptual exterior drawings of Westhaven/Cascade Club and Lodge, and floor
I plans
l| 3. photographs of the site and anticipated views
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I RCI consulting, Inc. - Eugene, oregon 3 lle st hattety'C ascade : Vai l, 04/00
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III. COMPARABLES
I Introduction
! Unfortunately, there are no reliable estimates of the current size of the fractional interest
I market. When we conducted our national survey of all vacation ownership projects listed in the
! RCI and Interval International directories in 1997, we found 55 projects that considered
I themselves to be fractional interest offerings as opposed to resort timeshare and whole
ownership. In contacting these resorts, it was found that the vast majority was selling % shares
I of a fairly modest product with few personal services and at relatively low prices, i.e., in "oldI
school" of fractional interests.
I During the past two years, however, RCI Consulting-Eugene has worked with about aI
dozen of the high-end projects, i.e., smaller shares, higher prices, more services, etc. In
I response to these clients, RCI may create an "elite tier" exchange system, intended solely for
high-end fractionals.
I In preparing a business plan for the elite tier exchange system, we identified over 50
Froiects/companies seriously looking at the product. Included are several companies that mayIt offer a network of such resorts, e.g., Ritz Carlton, Four Seasons, Star Resorts, Raintree Capital,
I Rock Resorts, Club Corporation of America, etc., along with a series of independent
t developers. Thus far, however, only a handful of such projects have been brought to market.
t The High-End Fractional Interest Projects
I Some 25 high-end fractional interest projects have been identified. Of the 25 existing
projects, 23 are in active sales, one project (Deer Valley Club) is sold out, and one project (The
I Boulders) is expected to begin sales sometime over the next few months. Interviews have beenI
conducted with all 25 existing projects. Telephone interviews also have been conducted with
I American Ski Company, the developer of nine % share projects at their various ski resort!
I RCI Consulting, Inc. - Eugene, Oregon 25 llesthaven/Cascade: Vail,04/00
locations throughout the U.S. (discussed in a following section of this chapter). Numerous
other Fojects are being discussed, including: (l) Patiot American's Grand Bay Luxr.ry Brand
with possible projects in North Scottsdale, Arizona, the Peaks in Tellwide, Colorado and
Carmel, Califomia; (2) Ritz Carlton Luxury Brand (Bachelor Gulch) in Beaver Creek,
Colorado, Rancho Mirage, California, Laguna Niguel, Califomia and Scottsdale, Arizona; and
(3) possible Star Resort locations, including Aspen, Telluride, Carmel, Scottsdale, south Florida
and the Caribbean.
The most significant common thread among all 25 projects is their location in
communities where ovemight rental rates and wholly owned real estate prices are very high,
including prices for land and for stuctures. All locations cater to upper-middle/upper-income
consumers.
As shown in Table VI-l, I 7 projects are located in five major westem U.S., and one
Canadian, ski areas. Five projects are located in golf-oriented communities, two are in
oceanfront resort communities, and one is an urban location. Interestingly,12 of the 25
projects are located in Colorado, with seven concentrated in Telluride.
As noted, 23 projects are actively selling (Deer Valley Club is reportedly sold out).
Aspen Ridge began sales in 1988, although the concept of high-end fractional interest sales was
not fully embraced until Deer Valley Club began sales in 1993 followed by Franz Klammer
Lodge in March 1995. One project began sales in 1995, one began sales in 1996, five began
sales in 1997, seven began sales in 1998, and nine began in 1999. Boulders has not yet started
sales.
Table III-2 shows that there are presently 414 built units at the 24 projects, for an
average of only 17.3 units. Seven projects have completed 20 or more units, including Christie
Club (20), Franz Klammer Lodge (63), Inn at Lost Creek (20), Owners Club - Hilton Head
(20), Phillips Club (92) - a conversion of existing units, River CIub (26), and Snowmass Resort
in Snowmass Village (30). Eight projects have less than20 units constructed, and three
projects have not yet completed any units. There are 404 units under construction, including 85
at Montebello II,73 at futz-Carlton - Aspen, 80 at Ritz-Carlton-St. Thornas, 49 at Telluride
Club, 37 at Teton Club.
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IRCI Consulting, Inc- - Eugene, Oregon 26 Ite st have ry'C as cade : Vai l, 0 4 /00
TABLE III-I
High-End Fractional Interest Projects
hoject Community Started Sales
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1. Aspen Ridge
2. Austria Haus
3. Boulden
4. Christie Club
5. Deer Valley Club
6. Franz Klammer Lodge
7. Inn at Lost Creek
8. Les Saisons
9. Montebello II
10. Mountain Chateaux Lodges
I l. Ownen Club - Barton Creek
12. Owners Club - Hilton Head
13. Owners Club - Homestead Resort
14. Ovmers Club - Puerto Vallarta
15. Phillips Club
16. Pine Meadows
17. Rancho Manana
18. Ritz Carlton - Aspen
19. Ritz Carlton - St. Thomas
20. River Club
2l . Roaring Fork Club
22. Snowmass Resort
23. Snowmass Resort at Northstar
24. Telluride Club
Telluride, Colorado
Vail, Colorado
Carefree
Steamboat Springs, Colorado
Park City, Utah
Telluride, Colorado
Telluride, Colorado
Ketchum, Idaho
Whistler, B.C.
Telluride, Colorado
Austin, Texas
Hilton Head, South Carolina
Hot Springs, Virginia
Puerto Vallarta
Manhattan
Telluride. Colorado
Cave Creek. Arizona
Aspen, Colorado
St. Thomas
Telluride, Colorado
Aspen, Colorado
Snowmass Village, Colorado
Tahoe, California
Telluride, Colorado
1988
October 1997
December I 999 (forecast)
1997
1993 (sold out)
March 1995
March 1998
June 1999
May 1999
t997
1998
1996
1997
1999
June 1999
March 1998
October 1998
December 1999
December 1999
December 1997
Fall 1997
February 1999
July 1999
March 1998
January 199925. Teton Club Jackson Hole, Wyoming
Source: Field work conducted by RCI Consulting-Eugene.
Of the built units, 4.8 percent are studio units, 20.3 percent are one-bdroom units (all at
Inn at Lost Creek and Phillips Club), 17.4 percent are two-bedroom units, and the remaining
57.5 percent are three-bedroom or larger units. Christie Club, Mountain Chateaux Lodges, and
Pine Meadows have built some, or all, four-bedroom units. There are an additional 154 urits
planned at eight projects. If all under-construction and planned units are completed, the total
units will increase to 972, or a very high 135 percent increase from the present total.
RCI Consulting, Inc. - Eugene, Oregon 27 We st hove ry'C as c ade : Vai l, 04 /00
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Upon completion of the under-construction units, the average project size will be 30
units. If all additionally planned units are constructed, the average will increase to 40 units.
Unit sizes range from 630 square feet for a studio-unit at Phillips Club, to over 3,400
square feet for a four-bedroom town home unit at Pine Meadows. Average sizes are about 665
square feet for a one-bedroom unit, 1,420 square feet for a two-bedroom unit, 2,000 square feet
for a three-bedroom unit, and 3,120 square feet for a four-bedroom unit. All but one (Phillips
Club) of the 24 projects were designed to be sold as fractionals with deeded interest, as shown
in Table III-3. All remain under the control of the developer. One project is afFrliated with RCI
and two are afliliated with II. Franz Klammer Lodge has alfiliated with Vacation Link (others
are negotiating with Vacation Link).
Table III-4 shows that eight ofthe projects are situated on a golfcourse, although l0 are
just a short distance to a golf course. Eleven have ski in/ski out access and five are located just
a short walk to a chair lift or gondola.
Two-thirds of the projects have swimming pools. Half have tennis courts and fourteen
have restaurants located on-site. Exercise facilities are located at 20 of the projects and all but
one have whirlpool spas. It is estimated that the majority of the projects have (or will have) a
staffed health club/spa facility on-site or nearby.
Most projects offler free (or discounted) skiing, golf and health spa visits. For example,
River Club and Teton Club include two lifetime lift tickets and greens fees per membership
while in residence, and Telluride Club anticipates offering a similar package to its charter
members. The Owners Clubs offer free greens fees at selected courses and health spa use while
in-residence.
Table III-5 shows that six of the projects offer 1/13 fractional shares (all four Owners
Club projects and both ofthe plarured Ritz Carlton projects) and three offer l/10 fractional
interests (five weeks use, including two weeks during the winter, two weeks during the summer
and one floating weeD. Franz Klammer Lodge sold 1/10 fractional interests in Phase I and
recently switched to selling two, four, and six week packages in Phase II, reporting that the
average purchase is approximately four weeks. Three projects sell l/8's, three sell l/7's, two
sell 1/9's, one sells l/12's, one sells l/11's, and one sells 1/6's.
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IRCI Consulting, Inc. - Eugene, Oregon 30 Westhwen/Cascade : Vail, 04/00
TABLE III-3
Characteristics of High-End Fractional Interest Projects
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l. Aspen Ridge
2. Austria Haus
3. Boulders
4. Christie Club
5. Franz Klammer Lodge
6. Inn at Lost Creek
7. Les Saisons
8. Montebello II
9. Mountain Chateaux Lodges
10. Pine Meadows
I l. Phillips Club
12. Owners Club - Barton Creek
13. Owners Club - Hilton Head
14. Owners Club - Homestead
Resort
Owners Club - Puerto Vallarta
Rancho Manana
Ritz Carlton - Aspen
Ritz Carlton - St. Thomas
River Club
Roaring Fork Club
Snowmass Resort
Snowmass Resort at Northstar
Telluride Club
Teton Club
fractional
fractional
fractional
fractional
fractional
fractional
fractional
fractional
fractional
fractional
condos
fractional
fractional
fractional
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
deed
u
none
none
none
none
RCI
none
none
none
none
none
none
none
none
none
none
none
none
il
none
none
none
none
none
fractional
fractional
fractional
fractional
fractional
fractional
fractional
fractional
fractional
fractional
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
developer
Ownership Exchange
Source: Field work conducted by RCI Consulting-Eugene.
River Club and Teton Club offer two-week intervals, tlree-week intervals and five-
week intervals. Aspen Ridge sells 1/8 and l/4 fractional interests and whole ownership units,
while Roaring Fork Club sells l/6 and. ll4 fractional interests. The most expensive membership
typically guarantees the purchaser either Christmas or New Years week each year, in addition
to one or two prime ski weeks, one or two surnmer weeks, and one floating week.
Only one project offers a split-week option, and none offer altemate year puchases or
bonus time.
RCI Corsulting, Ine. - Eugene, Oregon 31 We st hayery'C asc ade : Va i l, 04/00
t
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ITABLE III.4
On-Site Anenities at High-End Fractional Interest Projects I
IOcean Pool Tennis Restaurant Exercise
l. Aspen Ridge
2. Austria Haus
3. Boulders
4. Christie Club
5. Franz Klammer Lodge
6. Inn at Lost Creek
7. Les Saisons
8. Montebello II
9. Mountain Chateaux
Lodges
10. Owners Club - Barton
Creek
I l. Owners Club - Hilton
Head
12. Owners Club -
Homestead Resort
13. Owners Club - Puerto
Vallarta
14. Phillips Club
15. Pine Meadows
16. Rancho Manana
17. Ritz Carlton - Aspen
near yes
no near
n9a!r yes
near yes
near near
- yes
near yes
no no
near yes
yes no
no yes
near nearyes nearyes near
near yes
near near
no no
yes yes
yes yes
yes yes
no no
near near
no yes
yes yes
yes yes
yes yes
yes yes
yes yes
yes yes
yes yes
no noyes noyes yes
no no
yes no
no noyes yes
yes
no no
yes no
no yes
yes
yes
yes
yes
yes
yes
yes
yes
yes
yes
yes
yes
no
yes
yes
yes
yes
yes
yes
yes
no
yes
yes
yes
yes
no
no
yes
no
no
no
no
yes
no
yes
yes
yes
yes
yes
no
yes
yes
yes
no
yes
yes
yes
no
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t
yes
yes
yes yes
near yes yes
18. Ritz Carlton - St. Thomas no
19. River Club
20. Roaring Fork Club
21. Snowmass Resort
22. Snowmass Resort at
Northstar
23. Telluride Club
24. Teton Club
yes yes
yes yes
yes yes
near
near
Source: Field work conducted by RCI Consutting-Eugene.
Five of the projects, Aspen Ridge, Austria Haus, Christie Club, Franz Klammer Lodge
and Roaring Fork Club, offer in-house resales, although it is anticipated that most of the
remaining projects will eventually offer in-house resales over time.
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yes no
no no
RCI Consulting, Inc. - Eugene, Oregon JZ We sthaven /Cascad.e : Vai l, 04/00
T
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I TABLE III-5
Miscellaneous Characteristics at High-End Fractional Interest ProjectsI
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Aspen fudge
Austria Haus
Boulders
Christie Club
Franz Klammer Lodge
Inn at Lost Creek
Les Saisons
Montebello II
Mountain Chateaux Lodges
Owners Club - Barton Creek
Owners Club - Hilton Head
Owners Club - Homestead Resort
Owners Club - Puerto Vallarta
Phillips Club
Pine Meadows
Rancho Manana
futz Carlton - Aspen
Ritz Carlton - St. Thomas
River Club
Roaring Fork Club
Snowmass Resort
Snowmass Resort at Northstar
Telluride Club
Teton Club
l/8, l/4 & whole
I /9 share
l/l I share
l/7 share
two, four and six weeks
l/10 share
I /8 share
I /4 share
l/10 share
l/13 share
I / l3 share
l/13 share
l/13 share
1/8
l/10 share
1/11
1/13
t/13
two to five weeks
1/6 & 1/4 share
1/7 share
1/7 share
I /9 share
two to five weeks
yes
no
unk
no
no
no
no
unk
no
unk
unk
unk
unk
yes
no
unk
no
no
no
no
no
no
no
no
yes
yes
unk
yes
yes
unk
unk
unk
unk
unk
utrk
unk
unk
unk
unk
unk
unk
unk
unkIyes
unk
unk
unk
unk
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Source: Field work conducted by RCI Consulting-Eugene.
Table III-6 shows that annual maintenance fees range from $1,600 per 1/13 interest for a
three-bedroom unit at Owners Club - Puerto Vallarta to over $10,000 per l/8 interest for a
three-bedroom unit at Phillips Club.
Average annual maintenance fees for projects with l/7 to l/13 fractional interests are
$2,230 for a studio-unit, $3,050 for a one-bedroom unit, $4,930 for a two-bedroom unit, $5.350
for a three-bedroom unit, and $6,000 for a fonr-bedroom writ.
RCI Consulting. Inc. - Eugene, Oregon JJ Westhave Cacade: Vail, 04/00
TABLE III.6
Annual Maintenance Fees for High-End Fractional Interest Projects
l. Aspen Ridge
2. Aushia Haus
3. Boulders
4. Christie Club
5. Franz Klammer Lodge
6. Inn at Lost Creek
7. Les Saisons
8. Montebello II
9. Mountain Chateaux Lodges
10. Owners Club - Barton Creek
11. Owners Club - Hilton Head
12. Owners Club - Homestead
Resort
13. Ownen Club - Puerto Vallarta
14. Pine Meadows (all four-bed
units)
15. Phillips Club
16. Rancho Manana
17. River Club (five weeks)
18. Ritz Carlton - Aspen
19. Ritz Carlton - St. Thomas
20. Roaring Fork Club
21. Snowmass Resort
22. Snowmass Resort at Northstar
23. Telluride Club
24- Teton Club
Average*
*For l/7 to l/13 fractions only
- $3,000
$2,230 $3,092
s2,230 S3,0s0
s6,000
unk
$6,000
S10,000 (1/4 share)
$7,000 (l/6 share)
$6,700
$6,000 (est.)
$6,100
$1,200/week
$5,3s0 $6,000
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S930 (1/4 share)
s6,500-$6,700
unk
$5,100
$5,100
$6,000
unk
$2,300
$1,800
$2,000
$ I,600
$10,0s3
saioo
S I 1,800 (average)
$5,770 (average)
$5, r 00
$5,100
s3,700
$5,000
$6,000
-:
sopl+
$3200
$3,370
$s,800
S5,000 (est.)
$3,900
$1,040/week
$4,930
As shown in Table III-7, seven projects have sold 80 percent or more of their
inventory (Aspen Ridge, Austria Haus, Christie Club, Owners Club - Hilton Head, Owners
Club - Homestead Resort, Roaring Fork Club, and Snowmass Resort at Northstar) and six
have sold less than 20 percent (Inn at Lost Creek, Les Saisons, Phillips Club, River Club,
Pine Meadows, Rancho Manan4 and Telluride Club).
RCI Consulting, Inc. - Eugene, Oregon 34 We st hav etdCas cade : Va i l, 04 /00
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TABLE III-7
Sales Performance of High-End Fractional Interest Projects
Project
Percent
Sold
Start of
Sales
End of Sales Per
Sales Month
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Aspen Ridge
Austria Haus
Boulders
Christie Club
Franz Klammer Lodge
Inn at Lost Creek
Les Saisons
Montebello II
Mountain Chateaux Lodges
Owners Club - Barton Creek
Owners Club - Hilton Head
Owners Club - Homestead Resort
Owners Club - Puerto Vallarta
Phillips Club
Pine Meadows
Rancho Manana
Ritz Carlton - Aspen
Ritz Carlton - St. Thomas
River Club
Roaring Fork Club
Snowmass Resort
Snowmass Resort at Northstar
Telluride Club
Teton Club
average
87o/o
8f/o
nJa
87o/o
Unk
1sYo
l5o/o
300/o
unk
400
80%
95o/o
70%
8o/o
lSYo
56o/o
nJa
nJa
l9o/o
80%
62Yo
80o/o
l0Yo
20-25o/o
1988
December 1997
nJa
1997
1998
March 1998
June 1999
May 1999
unk
1998
1996
r99',1
t999
June 1999
March 1998
October 1998
December 1999
December 1999
December 1997
Fall 1997
February 1999
July 1998
March 1998
January 1999
nla
nla
nla
nJa
nJa
nla
nla
nla
n/a
nla
nJa
NA
nla
nla
nla
nla
nla
nla
nla
nla
nla
nla
nla
n/a
unk
6
nla
5
6
2
I
38
unk
l0
6
8
8
ll
I
ll
nJa
nJa
J
unk
26
8
.'
ll
l0
l
I
I
I
Source: Field work conducted by RCI Consulting-Eugene.
Factors limiting sales pace include: (l) over 60 percent of the projects began sales within
the last l8 months; and (2) eight projects have no built units, meaning they are either still
under construction, or constmction is expected to begin in the next few months. The
average monthly sales pace at the 16 projects that provided this information is about 10,
ranging from just one at Pine Meadows to 38 at Montebello II (occuned during the first two
months of the oflering of the product).
RCI Cowulting, Inc. - Eugene, Oregon 35 Wes t have ry'C asc ade : Vai l, 0 4/00
I
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IThe net year-round average fractional interest sales price at the projects for which
pricing information is available is about $118,000, as shown in Table III-8. Prices range
from $47,900 for two weeks in a 1,150 square foot one-bedroom unit at River Club to
$429,000 for a quarter share in a2,400 square foot three-bedroom unit at Roaring Fork.
Average prices for unit-type (for a four to five week fraction) include $105,000 for a
one-bedroom unit, $ 1 50,000 for a two-bedroom unit, and $ 188,000 for a three-bedroom or
larger unit. Most projects are automatically increasing prices by 10 to 20 percent as they
achieve certaia sales benchmarks. Aside from the economic benefit to the developer, it has
helped to maintain a healthy resale market.
Table III-8 also shows net sales volume for five of the projects. For the first six
months of 1999, average sales volume (excluding resales) was over $16.5 million. If this
number is annualized for 1999, it is estimated that the annual sales for each of the six
projects will be $33 million. A more conservative, and appropriate, method of
approximating avcrage annual sales volume is to simply multiply the average monthly sales
pace (10 fiactional interests) by the average price ($120,000 for a four to five week
fraction). This calculation generates an average annual sales volume, by project, of about
$14.4 million.
Table III-9 contains additional miscellaneous information about l0 of the 24
projects. Marketing and sales costs average 21 percent of total sales. Aspen Ridge reports
the lowest cost at l5 percent, while three projects (Franz Klammer Lodge, River Club, and
Teton Club) experienced marketing and sales costs of 27 percent. Recision rates average
four percent, with three projects at three percent and one project (River Club) at seven
Percent.
Closing rates range from nine percent to 30 percent, with an overall average of 17
percent. Buyers that purchased using cash, versus selecting the financing option, average
65 percent at four projects providing the information.
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TABLE III.8
Net Sales Prices at High-End Fractional Interest Projects
Averase Net hice of:
Total Sales:
v99-1v99
unk
unk
unk
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l. Aspen Ridge
2. Ausfia Haus
3. Boulden
4. Christie Club
5. Franz Klammer Lodge*
6. Inn at Lost Creek
7. Les Saisons
8. Montebello II
9. Mountain Chateaux
Lodges
10. Ownen Club - Barton
Creek
I l. Owners Club - Hilton Head
12. Owners Club - Homestead
Resort
13. Owners Club - Puerto
Vallarta
14. Phillips Club
15. Pine Meadows
16. Rancho Manana
17. River Club**
18. Ritz Carlton - Aspen
Ritz Carlton - St. Thomas
Roaring Fork Club
Snowmass Resort
Snowmass Resort at
Northstar
Telluride Club
Teton Club
TotaVAverage*
+Four-week intervals
$135,000
unk
$r50,000
(forecasted)
unk
$ r s0,000
$80,000
$200,000
$r20,000
$75,000
$55,000
s85,000
$60,000
unk
s175,000
unk
unk
nla
s80,000
$136,500
-$70,000
s105,000
$249,000
$135,000
$147,000
$319,000-
$39s,000
s159,000-
$209,000
$220,000
$200,000
$120,000
s220,000
s75,000
$55,000
$85,000
$60,000
$283,500
$17s,000
$52,900-
$219,900
s260,000 -
$360,000
(forecasted)
$109,000
(forecasted)
s286,000-
$429,000
$279,000
$219,000
$160,000
s64,900-
$2s0,000
s 188,000
unk
unk
a
s6,000,000
unk
s700,000
unk
$25,000,000
unk
unk
Y
$3,000,000
$48,000,000
s16.500.000
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$ 125,000
$120,000
$231,000
$82,500
s47,900-
$ 189,900
s225,000 -
$300,000
(forecasted)
s83,000
(forecasted)
$ 199,000
$ 169,000
sl r0,000
$57,900-
s200,900
$ 150,000
nJa
unk
unk
unk
unk
unk
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RCI Consulting, Inc. - Eugene, Oregon 5l We st hsve tdC ascade : Vai l. 04 /00
TABLE III.9
Characteristics of Selected High-End Fractional fnterest Projects
l. Aspen Ridge
2. Christie Club
3. Franz Klammer
4. Inn at Lost Creek
5. Owners Club - (three domestic
projects)
6. Pine Meadows
7. River Club
8. Snowmass Resort
9. Snowmass Resort at Northstar
10. Telluride Club
unk
80o/o
50o/o
$0f/o
unk
unk
unk
unk
unk
50o/o
30%
unk
unk
ZQo/o
t8%
to%
unk
unk
unk
9%
3o/o
unk
unk
3%
unk
unk
unk
unk
unk
3o/o
15e/o
22%
27Vo
20Yo
20%
20Vo
2704
18Vo
t8%
27Vo
Source: Field work conducted by RCI Consulting-Eugene-
Marketing strategies vary considerably at the 24 projects. Programs to gencrate tours at
projects that provided the information are as follows:
l. Aspen Ridge: Relies on local advertising, ovemight guests and referrals.
2. Austria Haus: Shares management with the nearby upscale Sonnenalp Resort, thus
helping to generate a steady flow ofqualified tours; roughly 40 percent ofsales are
made to Sonnenalp Resort guests, another 20 percent are influenced by Sonnenalp and
20 percent are from the local broker community. Roughly 50 percent of owners are
from east coast states, 25 percent are from the mid-west and south, and about 20 percent
are from the Fronl Range @enver area).
3. Franz Klammer Lodge: litigation caused an intemrption in marketing; however, primary
market for Phase One was winter ski visitors and fewer sunmer visitors. Durine Phase
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One, FKL had all the prime OPC locations in Telluride and Mountain Village (most ski-
locations have since gone away). Investor-related sales were roughly 50 percent ofall
sales for Phase One. Excursions or "mini vacs" constituted about 25 percent of sales.
Members sometimes will generate referral business from social gatherings, or informal
parties at their home locale.
Inn at Lost Creek: Guests at the hotel are targeted, along with guests at the sister hotel
located in Seattle, Washingtoq local advertising as well.
Pine Meadows: walk-by taffrc near the sales office in Mountain village; broker leads
from Real Estate Services at The Peaks; refenals; and local advertising.
Ritz carlton - Aspen and st. Thomas: Expects to generate most leads from hotel guests
and visitor trafiic.
River club: A broker program has been established which accounts for roughly 25
percent of all sales. A nominal monthly fee was initially given to participating brokers
(about $1,000) to enlist in a uaining program to understand the fractional product being
offered. They expect to build the broker-generated business to roughly 35 percent of
sales. River Club also markets heavily to tourists in the area" utilizing a prime sales
storefront in Telluride. Local advertising is used, as well. They have reported little
success with direct mail.
Roaring Fork Club: Leads are reportedly generated through an "invitation-only"
system.
9. Telluride Club: Also relies on tourist traffrc in Telluride and Mountain Village. They
are utilizing target marketing and report reasonable success.
10. Teton club: Relies on intercept marketing (existing visitors to Jackson Hole).
RCI Consulting, Inc. - Eugene, Oregon 39 ll e st have ty'C as c ade : Yai l. 04/00
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The high quality of the units and fumishings, and the services offered are two important
components for success at the high-end fractional interest projects (aside from the prime
locations at world-class ski areas, and very high overall real estate prices). Units generally
include: custom-made leather furniture; marble and granite countertops; high-quality plumbing
fixtures; heated floors;'tommercial look" appliances such as Sub-Zero refrigerators and
Viking ovens; multiple jetted whidpool bathtubs; large, rustic, quanied rock fireplaces; and
highly upgraded carpeting and soft goods.
Services generally include a concierge, quallty and comfortable shuttle service, room
service from a nearby upscale restaurant, storage ofpersonal items, stocking of
grocery/beverages prior to arrival, airport pickup, etc.
Summary ofPricing
Table III-10 shows reported prices at l7 ofthe high-end fractional interest projects.
Size offractions in the eight projects range from a l/13 share (four weeks ofuse per year) at six
projects to a ll4 share (13 weeks of use per year) at Montebello IL The avemge two-bedroom
unit contains 1,477 square feet, ranging from 1,000 to 2,000. The average three-bedroom unit
contains 2,095 square feet, ranging from 1,500 to 3,400.
The average two-bedroom unit is priced at $156,000, and the average three-bedroom
unit at $180,000. These avcrages are misleading, however, due to the varying sizes of the
fractions.
More importantly, the average price per sqrnre foot in a two-bedroom unit is a very
high $1,115, ranging from $521 at Christie Club to an expected 52,250 at Ritz Carlton - Aspen.
The average price per square foot in a three-bedroom unit is $858, ranging from $320 at
Montebello II in Whistler, B.C. to an expected 52/39 at Ritz Carlton - Aspen.
On a per-week basis, the average week in a two-bedroom unit is $30,047, ranging from
$17,308 at Rancho Manana to $65,000 at Ritz Carlton - Aspen. The average week in a three-
bedroom unit is $32,486, ranging from $9,231 at Montebello II to $77,500 at Ritz Carlton -
Aspen.
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TABLE III-IO
Prices at Selected High-End Fractional Interest Projects'II
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Size of
Share
t/9
t/13
l/10
l/6
lt7
$120,000
s75,000
s5s,000
$85,000
s60,000
s82,000
$260,000
$310,000
$83,000
$109,000
$175,000
$260,000
$199,000
$279,000
$1,868
$2,100
$557
$636
$l,l4l
$ 1,333
$1,470
$821
$320
s37s
$358
$480
s433
s656
s2,253
$2,239
$664
$709
s5l5
$650
$871
$930
Square
Bedrooms Feet
Price Per
Square
FootPrice
$249,000
$350,000
$159,000
$209,000
$135,000
$220,000
$147,000
$200,000
Ausria Haus
Christie Club
Franz Klammer Lodge
Inn at Lost Creek
Les Saisons
Montebello II
Owners Club - Barton Creek
Ownen Club - Hilton Head
Owners Club - Homestead
Resort
Owners Club - Puerto
Vallarta
Rancho Manana
Ritz Carlton - Aspen
Ritz Carlton - St. Thomas
Pine Meadows
Roaring Fork
Snowmass Resort
Steamboat Springs,
Colorado
Telluride, Colorado
Telluride, Colorado
Ketchum (Sun
Valley), Idaho
Whistler, B. C.
Austin, Texas
Hilton Head, S.
Carolina
Hot Springs, Virginia
Puerto Vallart4
Mexico
Cave Creek, Arizona
Aspen, Colorado
St. Thomas
Telluride, Colorado
Aspen, Colorado
Snowmass, Colorado
111
2bed
3 bed
3 bed
4 bed
2 bed
3 bed
2 bed
3-bed
3-bed
J-DeO
3-bed
3-bed
3-b€d
2-bed
2-bed
3-bed
2-bed
3-bed
3 bed
3-bed
2 bed
3 bed
1,200
1,500
2,000
2,300
1,420
1,980
1,000
r,950
1,500
2,600
2,000
2,300
1,800
1,500
1,500
1,800
t,625
2,000
3,400
2,400
r,600
2,100
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l/8
l/4
t/t3
1/t3
1/13
U13
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RCI Corauhing, Inc. - Eugene, Oregon 4l We st hayery'Cas cade : Va i l, 04/00
Table III-10, continued
Price Per
Size of Square Square
Project.
_ . . , , Area Share Bedrooms Feet hice Foot
Telluride Club Telluride, Colorado l/9 2 bed 1,454 $110,000 $683
3 bed 1,800 $160.000 S800
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Average
Overall average
Overall average per week
2bed 1,477 Slss,667 $l,l 15
3 bed 2,095 $179,'133 S858
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2 bed
1,860 $170,700 $950
$30,000
American Ski Company
As noted previously, American Ski Company has nine fractional interest projects
located at their company-owned ski resorts throughout the U.S. All nine projects consist of
l/4-share units. Six projects are found at their eastem ski resort locations and three projects are
located in the west. Table III-I I lists the nine projects. All projects are considered *ski-in, ski
out." Owners typically place their unused weeks into a rental pool. Although the information
is limited, following is a brief description of the status of selected projects:
l. Grand Summit Resort Hotel, Attitash. Sales began in 1996 and the project is
approximately 50 percent sold. Shares are priced at $51,000 per l/4 share.
2. Grand Summit Hotel, The Canyons. The project is presently under construction. Upon
completion, there will be 212 units in a seven-story structure, ranging fiom 350 to 4,000
square feet. Numerous floor plans are available. Pre-sales began in August 1998 and
the project is 55 percent sold. Prices range from $49,000 to $725,000 (penthouse) with
an average sale of $145,000. About $65 million has been sold. Marketing and sales
expenses are roughly l0 to 15 percent (reportedly including project G & A but
excluding corporate G & A).
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American Ski Company l/4-Share Projects
hoject Community Started SalesT
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I. Grand Summit Resort Hotel, Attitash
2. Grand Summit Hotel, The Canyons
3. Grand Summit Hotel, Heavenly
4. Grand Summit Resorts, Jordan Grand
5. Grand Summit Resort Hotel, Mount Snow
6. Grand Summit Hotel, Steamboat
7 . Grand Summit Resort Hotel, Sugarloaf
8. Grand Summit Resorts, Sunday River
Bartlett, New Hampshire
Park City, Utah
South Lake Tahoe
Bethel, Maine
West Dover, Vermont
Steamboat Springs, Colorado
Carrabassett Valley, Maine
Bethel, Maine
June 1996
February 1998
February 1999
June 1997
1997
August 1998
1990
June 19979. Killington Grand Hotel & Crown Club Killington, Vermont 1997
Source: Telephone interviews conducted by RCI Consulting-Eugene.
3. Grand Summit Hotel, Heavenly. The project is presently under construction. Upon
completion, there will be 178 units, ranging from 350 to 4,000 square feet. Numerous
floor plans are available. Pre-sales began in February 1999 and the project is 25 percent
sold. Prices range from $55,000 to $800,000 (penthouse) with an average sale of
$160,000. About $25 million has been sold. Marketing and sales expenses and G & A
is the same as The Canyons. described above.
4. Grand Summit Resorts, Jordan Grand. The project consists of 156 units. Sales began
in1997 andthe project is 70 percent sold. Prices average about $65,000.
5. Grand Summit Resort Hotel, Mount Snow. Sales began in early 1997 onthis 135-unit
project. The project is 55 percent sold. Current average pricing is roughly $65,000.
6. Grand Summit Resort Hotel, Steamboat. The project is presently under construction.
Upon completion, there will be 182 units. Unit floor plans will vary sigrrificantly. Pre-
RCI Consulting, Inc. - Eugene, Oregon 43 ll/est have n /Casc ade : Vai l, 0 4/00
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Isales began in mid-1998 and roughly 40 percent ofthe project is sold. prices range
from $45,000 to $650,000. The average price is about $130,000. Marketing and sales
expenses and G & A is the same as The Canyons, described above.
7. Killington Grand Hotel and crown club. The project consists of 133 units. Sales
began in early 1997 and roughly 80 percent ofthe project is sold. prices average
$67,000.
Planned Projects
1. Vail Village Hotel and Convention Center is a proposed 99 unit four-star hotel and
convention center that will include 48 fractional interest units. The project will be
located in Vail Village at the southeast comer of South Frontage Road and Vail Road.
The project also will include a health club and spa. Fractional interests apparently will
include just 26 weeks per unit (largely over the ski season) while the remaining weeks
will be used by the hotel and convention center.
2. Crescent Club is a rumored fractional interest project located in Arrovtread. Fractional
interests will be sold in single-family stand-alone homes (similar to Mountain Chateau
Lodges in Telluride).
3. A possible fractional interest project (undisclosed developer) in Avon.
4. A possible Ritz-Carlton Club fractional interest project in Bachelor Gulch.
5. Not fractional interest, but Vistana is reaching final approval to develop 136 timeshare
units on Lot "C" in Avon. Construction is expected to start this summer.
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I IV. TOURISM IN VAIL
I Number of TouristsI
In lieu ofreliable published statistics on total annual visitors to the area, an extensiveII conversation was held with the Director of Marketing for Vail Valley Convention and Visitors
Bureau. Based on qualitative insights and some past studies done for the Bureau by Rosall
a Associates in Boulder, it is estimated that the number of annual ovemight visitors in Vail
I Valley (including Vail, Avon and Beaver Creek) is about 700,000.
I This estimate is surprisingly low, especially in light of the area's international
I reputation. Reasons include: (1) many day visitors/skiers to the area stay in sunounding
I communities in the Rockies where rental rates are lower; (2) many day visitorVskiers already
I own second./vacation homes in the area and are not considered "visitors;" (3) only 70 percent of
I the extensive number ofcondos in the area are available for public rentals; (4) only about
I 10,000 hotel rooms exist in the area; and (5) ovemight visitations are concentrated in DecemberI through March and in July and August, and fall off dramatically during the other six months of
I theyear.a
I Visitor ProfileI
Characteristics of summer visitors to Vail are best described in *Vail Vallev Summer
I Visitor Research: 1999," as prepared by RRC Associates. It makes comparisons t*" ,rr**",
visitor profile in 1993, 1996 and 1999. It also includes information on visitors to Beaver Creek.
I Some highlights from the following five photocopied pages include:
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I RCI Consutting, Inc. - Eugene, oregon 45 West haven /Cascade : Yail, 04/00
MAR-O7-Og I3.I3 FROM,E&V KENNETH LEI,ENTHAL ID:212+7?3+4567 PAGE ""'I
vArL VALLEY,$UUMER vrsrroR RESEAR cH l9g9
TnBu2
vlsttoR pnoru-e
ovnAu 0wneu ownilLg,W gMEn surea y* yat- vatL Bcf, affi Bcn
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tr1954Ts0a5tsE55.n414Ea4oi;;;424s
lfah
Fsrule
AGE
&yego ard undsr
3r -15
46.55
566dol€r
(Awryt*1
HOtSEmtoil4E
<$5q,000lFone
s0-99.ss
t1oo.&qmo
Ianmr
fl$fiarsrAYUS
5ir9F
cotnlc,octriErcn
Faflfler
E'49{e6tet
EBOUG'}IT KDS OII IRIP
({a)'
ta@ftdoqponsar *se ilya h tW tot es gus d wwbn d auqf!, E nd 4lplrlfie
lgt?13refl11 3838,€46 12?225?5stnn?p52431 2,5(16) (45t tlh) @) (11) 0h)
I{
0+
90n
21
l5s
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t3
39
b
21
26
3e
s0
l2
15
11
41
33
NA
IIIE
t6 tl3t 12aa30?8
(1d) K5)
18
ls
20
15
15
1g
4it
s0
84
l,t
32
3t
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ar
s3
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4
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rg
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17?81r0.l03lngAa?s373ll1 1062t
16 l5 16 t315 11 t5 t23? 12 91 ag313?3526
E3 tt" 70 80
al rvs Z1 21
By combming dara sn t/isito$' ZIP codes and how they ctassified th*msetver in terrrs of visitor qge(local, day, and overniglr), ry ar" e alle to morc precisely caregorize visitors. In the mble below, p4rt-tine residents, day, and ovelaight visiton are fitrther divia.a inro in_starc *ai*-ot-rata visirors usiag&e.ZIP code of tbeir primrry resirlerrce' sjmilarto tbe winter visiror profile, rhe ovexoighr out-of*ae
:.::T,::cp_t.-3:F_q:" tI percc'q, fotrowed by ovemight c"ro.ii irip."crrt) and day visirorson8tnsung trom out orsBte Tbst percentagcs remeia ygry similar to tg95 resrrlrs.
Vail' io coBtttst to Beaver Creelc, is more likely m draw visi1915 from our of smre smpping in for tbe day.The data sbow tbat Vail atbacts a lowa yroponion of oveidgbt out-of-state visiro-rs rt r, 96oo gr.rn
(51 p€rceil et Vail and 63 percedt ar neavei Ceel).
RRC ASSOCIATES
.- MAR-O?-OO 13.13 FROI{'E&Y KENNETH LE\/ENTHAL
l.
lD,2l2+?73+45O1 PAGE 3/2O
v^+ vALrJy SUMMER VISIToR RESEARCH 1999I
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}llhaeVisiton AreFrom
Just ovEr one-tbfud of visiton originated from colorado, a stighr iacrease ovcr lggS (see able below).Otbcrpauems reruahd ecncralllafuutrt"s""r", *iO the exccprion of imemafionql visitors wbichsbowcd a decline from i6rur S perpeot ro t percent. '
,\-.,
t,,..., i.
TABLE4
IGY STATES REPnESEII"ED IN TITE vAE, vAI.IsY
1998, 1996,
^ND
1999
Paursydmnla,.4*';:' 216frho$ce g% &
N€rfl York. l3l" 3'6
Mlssouri 3tt 996
Adrooa 3!6 U"
Mitrigan * 996
l'taryhnd X %
YtrEnra * A"
lntsnrabrial ,. 1%. .' IPA
Wlsorsh 1% *NflJe$ey r* *hFa t% %
Oftei t5% tu
foe,I |N*twfr
surilEn anuEa
RRC ASSOCIAIES
MAR-O7-SO l3:r3 FROM. E&Y KENNEIH LEVENTHAL tO, Zt2+??3+ASaDl PAGE "'I
VAIL VAL[.E.Y SUMMER VEITOR RESEARCH 1909
9olpTog visitors' origin byjnterview locationq $e data shsw Vail o be relnively sgong atnongcoloradans, wirh Tcxaas ead Floridians-cspcciallyrepresented at Beaver Creek- colorado rcsidentsmaka-u9 ao ircreasingly larger sbart of vait vattey visitors, no, *tptiri"gin-l-igbtof continuedpopulation grounh in Colorado over the pasr six 1rarg.
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tss6Vail ECn
1WVail ECn
T^BLE 5
STAI.E oF ORIGBI
By L'.rgnvrewLocrnon
Awt
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IRRC ASTOcIATES
l.
n^*-a"-os 73.r3 FRoM. E&Y KENNETH LEVENTHAL lD ,272+?73+4561 PAGE S/2@
y4&_vALI4y SUIO{ER. vtsrroR RESEARCH re99
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BreckCooa of Witor Oiginsby GeogrcphicArea
Tbe Point'of-vicw Box dara were combined witb incrcep resulrs to eveluarE thc gcographic origins ofvisiors &oro salecred nartets. Rasultr isdicate that Dcnver, Dallas, Cticego, Los-Angies, atrd irliami
are lbeaumber one *areas of domisenr influence" wirhin cach of thcirrcsftrivc stateg These resultgrrc providcd below.
T.$l'E7
AREAS OF DOilD{AHT lNfggglsgS 36r TOpFryE Sr^tEs
Atrnsol0rinhailmvealr'
Dsruer, C0
Cobndo Spir@Puobto, C0
GardJurionhrarp, CO
,tlquerCra, NM
J2t TEI $ 7.596 o! POV & InterreorEnvel rqslondorrts
Arssof Dunlnntlnlhnrw
thb-FlWorfi,TX
Housbn.U
Arlslirl TX
SanAnbnb, TX
Wacaffemfle, TX
BeaumonUPon Mrur. TX
Amatllo, TX
Wrchila Faldtarlon TX{K
McAlleruBrcursvile,TX
Odessa/Nridlsnd, IX
EL Pasq fi
Corps Christi. TX
Olher
Tyle/Longvlgu4ad(sollile, IX
SEnAr€Elo, TX
Laredo, TX
lconinued)
4.4%
x.%
8.7*
6.r%
1.r%
&t*
2M
2.W
t.5%
1.596
1.0?6
1.096
r.0*
0.59.
0.5e6
lI5F,6
Hteil
654 E).54
55
12
RRC ASSOCIATES
llAR-@?-gO l3: l4 FRoM'E&y KENNETI{ LEVENTHAL lD,2l2+??3+4561 PAGE "'I
VAIL VALLEY SIJMMER VISITOR R,ESEARCH 1999
T,18LE ?
AREAS OF DOMINANT INFLUSI.EE FON TOP FTVE STATES
(coNinu.tI)
f3l ILHNOS. 5.5% pf PoV t lil?rcept,su,rireyJin0onder.rts
Arere ol Domlaant Infiuene
Chicago, lL
Peotia/Bloomingrn, lL
Springfel4Deceilrr€tnmpaiga tL
foeldord. tL
St LoJls. Mo
PaOrcan8ape
GiardearyHurisburg/Ma*n. lfi-MGtL
0avonpodiRoclr lslad/l&line0uad Cities.
IL.IA
Oincy/flannbal, lL*lO
ll|l -CIUFORMA" 5.:0% ot POV*.htprcoot ggnnv resmndams
*eas ol Danlwnlnlluene
Lm Angelos, C.A
San Flanciloo, CA
San Diegn, CA
Eacnmenro'Sndtun, ch
FrenseVisab
Sallnas/l/onterey, CA
6anh Babera/Senh Maria/San Louis
ObisFo. cA
Ctriqg/Hodding, CA
E CenloYuma C,A.AZ
725ffi
5,6"6
4.w,
1-9'?/"
1.*
14
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2.ffi
0.7%
8.4Y.
7.mc
5!%
1.4%
1.41"
r4%
0.7:6
0.r%
F) FLORfDI" 5.&6pf.P0v & tnrerceptervev resmnCglgi
Areat ol hninant Inlluenrp
Miami, FL
We$ PahrFFtPierce.Vero Beach, FL
Tampa-St Pete, FL
OrlandoDaytona.Metbcurne, FL
Ja*sonvills. R
Ft MyewNaples, FL
Olher
Sarasot4 FL
Panama Cfi Fl
Gainesville, FL
20.0%
r&8%
13j%
6.Uc
5.4%
3.8?6
3.196
1.5%
0_8%
RRC ASSOCI,ATES l0
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l. A high 22 percent of summer visitors to Vail have incomes over $200,000, thus
income-quali$ing them as prospects for a fractional interest purchase (the threshold
probably starts at S150,000). This proportion is 25 percent forBeaver Creek.
2. Some 53 percent are in the prime fractional interest buying years of age segment of
30 to 55. This proportion is 60 percent for Beaver Creek.
3. Some 78 percent represent couples/families/empty nesters, while 2l percent are
singles. This proportion is 86 percent for Beaver Creek.
4. A very high 83 percent bring children with them. This proportion is 70 percent for
Beaver Creek.
5. Nearly one-third (31 percent) of summer visitors to Vail come from within
Colorado. This proportion is 29 percent for Beaver Creek.
6. Other most frequently represented states are Texas, Illinois and Califomia. No
single state generates more than eight percent (Texas) of summer visitors to Vail.
However, Texas generates 13 percent ofvisitors to Beaver Creek.
7. On average, visitors spent 5.1 nights in Vail Valley in 1996. The average for winter
visitors is higher at 7.2 nights (positive figwes supporting the fiactional interest
concept).
Characteristics of winter visitors to Vail are best described in"98/99 Maze Survey, End
of Season Summary," as prepared by Vail Resorts Research Team. It contains demographic
l. Skier visits during the 1998/1999 season totaled over 1.3 million. When divided by
the average number of days skied of 4.3, we can determine that there were roughly
31 1,000 skiers.
I information on winter visitors to Vail for the 1997/1998 and l998llg99 ski seasons.I
Some highlights from the following l5 photocopied pages include:I
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I RCI Consutting, Inc. - Eugene, oregon 51 Ilesthavety'C ascade : Vai l, 04/00
-/*^.
Verr Rsroltr
iEl]EAicll rE f
98'99 MAZE SURVEY
END OF SEASON SUMMARY
DEMOGRAPHIC PROFILES
*
Vail,
DEMOGRAPHIC PROFILE OF VAIL GUESTS
Vail Visitor Mix
Skier Visit Total = f "334,939
CO Overnight E%
Day 5%
lnternational 12%
Nearly two'thirds of Vail guests
are from out of stiate.
One in ten guests is a Local
(resident of Summit or Eagle
Counties).
One in eight guests is from the
Intemational segment
Five percent of Vail guests are
CO Dayskiens. 8296 of CO Day
sKiersat Vailare from the Front
Range.
Eight percent of Vail skiers are
GO Ovemight. Of these, 89o/o
are from the Front Range.
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10%
out of state
Ghanges in Visitor Mix
There has been
very little change
in visitor mix
between 98/99
and 97/98 at Vail.
20o/o
10%
0o/o
Vail Visitor Mix Changes
98/99 vs. 97/98
197/98 898/99
Percent of Visitors
64.A - 65'6
10% 10%
13% 12%. =--.== -r:I-E
Local CO Day GO Overnlght Out of State Intematlonal
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Market Segment Distribution by Subseason
Vail Market Segment Distribution
Percent of Msitors
90
80
70
e0
50
40
30
20
10
0
Definition of Subseasons:
Earfy - Open to 11l25lg$
Thanksgiving - 1 1 126198
to 11f29198
Pre-Christmas -
11/30/98 to 12125198
Christmas - 12l26EE to
1/3/99
Mid-1/4/99|oA12/99
High - ?/13l99to 414199
Late - 4/5/99 to Close
\%'%'/q
I1l**
:
66
. Visitor mix changes by subseason are fairly consistent between resortrs.. Early Season sees a higher percentage of Locat, CO Day, and CO Ovemight.e Pre-Christmas to Late Season sees the majority of tntematiohal guestS.o Out of State guests primarily visit the resorG from Christmas through High Season, and tend to avoid Mid
Season.
Destination Visitors - Geographic Origin
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iElE icH IEAI
98'99 MAZE SURVEY
END OF SEASON SUMMARY
Page 6
By Subseason
Califomia 8.6% 74.370Texas 8.5% 73.179Florida 7-9% 68.022lffinois -ffiPennsylvania 5.2To 45,044Ohio 4.0% Uj22Michigan 3.87o 32.4UMinnesota 3.7% 32,376Georgia 3.5o/" 30,415Totat 63.4% 547,800
. Sixty-three percent of Vail's Out of State visitors come from the top ten states.
/^^\ *
Vr rr Rrtortr
RESEARCII IEIH
Page 7
OUTOF STATE
a
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' Thiry-nine percent of Vail's Out of State visitors oome fiom the top 15 metropolitan areas.
r " Eighty*ix percent of Vail's Intemational visitors come ftom the top 15 countries.
Change in Visitor Origin by State
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WASHTNGTON. pC-M+-VA-V\^f ..- -.
PHII.ADELPHIA. PA-NJ
HOUSTON,TXDALr-AS,TX n.
2.3%
2.0%
.2.0%
{.9%lh
1.7%
1.6%
1.4%
1.3%
13%
19,968
17.49
17,180
r6,385
r5.876
14,934
14t30
12,492
1't,169
10,909
336,5.|8
+L rr.oy6 49,b69l-2 J 13.1% 20.96st_ .- JGanada t/ 8.6% 13,446Aushalia f -O% 10,925Germany 6.5% 10,182Venezuela 3-3% 5228
Brazil 33% 522t
Switrerland 1.8% 2.899
ScoIand 7.8Vo 2,863
Sweden 1.8Vo 2.8:t0
Jagan 1.7Vo 2,599
Argentina 1.5% 2,393
Holfand 1.3Yo 2.024
Austia 1-131c 1.653
France .. 1.0% 1.529
T0f8II 85.6% 134,425
VAIL: CHANGE IN OUT OF STATE SKIER VISTT DISTRIBUTION BY STATE.
98/99 % Skier Visits 97/98 % Skier Visits %Var. SVVar.
New York 11-0o/o 95,128
Califomia 8.6% 74,370
Texas 8.5% 73,179
Fforida 7.9o/o 68,0?2
fllinois 7.37o 62,710
Pennsylvania 5.2% 45,(X4
Ohio 4.Oo/o Y+.122
Michigan 3.8% 32,4U
Minnesota 3.7% 32,376
Georgia 3.5Vo 30,415
Total 63.40lo 547,800
New York 9.4o/o 95,820
Galifomia 9.2o/o 93,016
Texas 6.2o/o 63,158
Fforida 6.4Vo 65.362
fflinois 6.70/o 67,883
Pennsylvania 4.20/o 42,819
Ohio 4-1o/o 41,742
Michigan 4-1o/o 41,252
Minnesota 4.5o/o 45,675
Georgia 4.Oo/o 40,708
Total 59o/o 597,435
4.7To (692)
-25.1o/o (18,&tO)
13.70/, 10,020
3.9o/o 2,660
4.2Yo (5,173)
4.gs/o 2,26
-2.3o/o (7,620)
-27.2o/o (8,818)
41.1o/" (13,299)
-33.8o/o (10,293)
-9.1o/o (49,635)
New York remained the top state for Vail, and skier visits to Vait from New Yorkers remained relatively
constant.
Califomia remained the second strate for Vail, however, skier visits to Vail from Galifomians dropped
significanUy in the past two seasons.
Skier visits from Texas, Pennsylvania, and Florida increased, while skier visits from Minnesota, Georgia'
Michigan, and Ohio decreased significantly.
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70
60
50
240g30
_E 20
610EO€ -10
f;-me -30F -.()
-50
€0
_70
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r New York and Chicago remained the top two metrropolitan areas for Vait; horrever, both dedined in skier
visits, with Chicago dedining much more significantly than New York.. Othersiglificant dedines occurred in visitors fromMinneapolis, Los Angetes, and Philadelphia. . .r Skiei visirs from Miami and Baltimore increased, while skier visits from Pittsburgh and l(ansas City
remained about the same.
Skier Msit VariancE by Subseason
Vail: Skier Visit Variance by Subseason
Colorado Day and Overnight Visitors: 98/99 vs. 97/98
Skier visit decline from Colorado residents at Vail between 97/9E and 98/99 was steady at around 5,000
skier visits from opening until Christmas.
After the Christmas Holiday period, skier visits from the Colorado segments increased with a peak over
97/98 levels of about 11,000 skier visits (this increase is commensurate with the increase in snowfall).
During High and Late seasons, skier visits from the Colorado segments again dedined compared to 97198
levels, with the greatest comparative decline experienced during Late season.
,.-',^. |,'r
Vr:r R:sorrr
i€talRcr |l^fl
98'99 MAZE SURVEY
END OF SEA,SON SUMMARY
Page 8
Change in Visitor Origin by Metropolitan Area (Out of State Segment)
VAll-: CHANGE lil OlrT OF STATE
turltg Ar Skier Vinlts 197198 % SldcrYtsltt %V.r. SV V.r.
INEWYORK NY 6.796 5E,0aT
lcHrcAco, tL s.7r6 a9"55E
lwAsHNGroN,DGnDVA-WV 3.7'h ir2,276
IMf NNEAPOU$SA|NT PAUL, Ml.l-w| 2,67. 24,585
lATfllrTA GA z5% 21.5a5
ILOS ATTIGELESLONG 8EACH. CA 2.s% i9,96E
PHTTJAINLPHTA PA{J 2.O% 17,49
HOUSTON, TX 2.O% 17,rE0
oALr.AS, TX 1,Si6 16,365
NASSATLSUFFOLK NY LEr 15,876
DETROTT. Mr 1.7% 14.934
Mf,AMf, FL r.6% 1423[J
BALTIMORE. MO 1.1% 12192PTTSBURGH.PA 1.3% 11,169
KANSAS crrY. MGKs 1.3% ro.gos lToelt 39.0% $6.57e i
INEWYORK NY 6.M q|251
lcfircAco. tL 6.0% 61.007
wAsl{NGTON. t CMDV&WV 33% 33390
TM|NNBA|TOL|S€A|NT PAUL, MN-W| 4.0% 10,417
ATUNTAGA 2.3% 4,67A
LOS AI{GELES{Of{G 8EACH, CA 3.1% 3am9
PHI1IDELPHIA PANJ 2.8% 26,143
HOUSTON, TX r.9% 16.878
oALlAS. TX 2.O% n,5r26
t{AssAusuFFoLK NY 1.E% 18,334
oETROI, Mr 1.9% 1E,66tt
MrAlfi, FL 1.1% 10,890
EALTIMORE. MO O.Cr6 8.852
PlTTSgURGtl, PA 1.17c 11,(Xg
tG tsAs cnY. MGKS 1.0% 10..6a
Tdel 39.* 397,931
€.0?. (5230)
-a.r% (11.a49)
€.5% (r,tt'1)
€f.i3ta (15.A011
-r0.Er6 (a33)
€0.3% (t2.0ft)
{9.E% (8.69.)
-9.9% (1,6981
-23.3% (4.t1r)]
-15.5% (2.1s8)l
-26.3e6 ls.sratl23.s% s.3.0 |8.1% 3.€e Ir.1% 120 |'l.t% 415 |-r8.46 (6i.376)l
-^/\lA.^Vrrr R r sor rs'
RE6EAIC'I IEAH
98'99 MAZE SURVEY
END OF SEASON SUMMARY
Page 9
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Skier Wsit Varlance by Subseason
Oui of Stata Visltors: 98199 vs. 97/98
Vall: Skier Visit Variance by Subseason
Intemalional Visators: e8r99 vs. 97198
70
60
50
240g30
ba)frtoEO€ -10fi-nB -30F-m
-50
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60
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,\,
"";"
variance in the Intemational segment is near zero from opening until christmas.
The largest dedine comes during Mirt and High seasons, where the decline peaks at just over 30,000.
Late season skier visits show a retum to near the previous season's level.
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Age Age by Market Segment
Vail
lrr an
g4$94
or.r-zu -:z1-:z4 Ez$:t4 I
15$64 165 and over
Percent of Vslbrs
Loc.l COO.y....COO,.ndghf Od ot Strtr lnt r||r0on t Tot ti ;..;. For atl resorts, Locals and co Day are the segments with the youngestguests.. Similarly, Out of State, CO Ovemight and Intemational have the otdestvisitors.. For all segmenls, over two-thirds of Vail visitors are between age 2i and 54.
Ghange in Age Distribution
Vail Age Distribution Ghanges
98/99 vs. 97198
197/98 898t99
lOal/o
16 qt+'+'+
Vail: Median Age by
Market Segment:
Local 31CODay 32
CO Ovemight 39
Out of State 41Intemational 40
Vail: Median Age
for all Visitors:
98/99 40
97198 40
Age distribution for Vail
visitors has not cfianged
significantly fom last
season.
The percentage of 3544
year olds has increased
slightly, whife the
percentage of 25-34 Year
olds has decreased slightlY.
'>te+
\"
€o'€r '+
-a+rA-.var! R Elortf
iEs€rRclt ltEA[
98'99 MAZE SURVEY
END OFSEASON SUMMARY
Page 10
Perc€nt of Msitors
2t*
at%23u.
Itro.r
7% 7*
594 5r
e,t
ue
%
-^/\4.\Vrrr R:rcr tr
RE5EARCH TEd'
98'99 MAZE SURVEY
END OF SEASON SUMMARY
lncome
Vail: Mean Income by
Market Segment:
Local $ 51,750
CO Day $ 72,250
CO Ovemight $ 97,500
Out of State $129,000
lntemational $140,500
Overall $110,000
. The wealthiest
visitors at Vail are
destination guests:
Olt of State and
Intemational.r Locals and CO Day
Skiers have the
lowest incomes onaverage. l
Ghange in Ineome Distribution
Percent of Visitors
98/99 vs. 97/98
a97/,98 198/99
Income by Market Segment
Vail
- tz{,$rg EliDzt.|,tru - }rlr$nt llillrrvrn, - tr{'vtr Ea.r.wr, ' itlttr:'vlt
10,OOO - St{9.999 -t150,OoO - t199,999 a$?00'@o - $249,999 @EZq)'000 and over
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Vail Income Distribution Ghanges
Tot l I
?><l /(Jo
: tS 4r**1"r'
' Forthe most part, I
( incomes at Vail have I
f i increased overthe east I
f l tlto years, @mmensuratetl with increases in ski
tt ;'#ffi;:;,"iJ,n" tll overall health of the
I economy.o Tne mosr srgnrfrcant Ih increase is in the over tt
lll szso,ooo income
tl ""t"lo'y I
15o/"
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-%+ 's>% %
0o/o
'+%
,^, ,".
Vlrt Rrtor rr
rltErnct llAI
98'99 MAZE SURVEY
END OF SEASON.SUMMARY
Page 12
Annual Incornes Over 9250,000
Vail $250,000 and Over Income Category
Distribution
s50K - s75K t2sK - 350K
szsK - t100K
:3250K
Souroe: 1999 VaiUEagrle County Afuport Surwy
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Over twethirds of Vail visitors in the over S250,OOO income category fall in the $250K to $SO0K category.
One in ten of these visitors (2.4o/o of total Vail visitors) have an annuat household income of one million
dollars or more.
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8Oo/c
70%
50%
50%
4Oo/"
{%
20'lo,
10%,
oic'
Gender by Market Segment
Vall t
I
ln the ski industry, gender
is a fairly stable statistic, atl
roughly turo males for Ievery one fernale on the
slopes.
CO Day skiers anct Locats Ihaye the highest
perentage of rnales, while -the ovemight se_ornents Ihave the loresL
It appearc that wien skiing _
onlyiorthe day,.men tenO- I
to ski alone orwith other I
males. For,overRBht fips,
they are rnore likely to take I
along theirbmale I
@mpanions.' :OO Orrmlght Orrt ot Strt ltb'' [o|t.l
Ghange In Gender Distribution
Vail Gender Distribution Changes
97/98 vs. 98/99
97/98
At Vail, the percentrage of females has increased
males for every one female on the rnountiain.
Gender distribution has not changed significantty
98/99
slightly in the past two years, bringing the ratio to two
in the past two years.
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Percent of Visitors
GO Ory
Male
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Prior Visitation
Prior Visitation by Market Segment
Prior to this trip, have you been to Vall before?
1000/0
9Oo/o
8oo/o
70o/o
600/o
500h
40%
30alo
20o/o
'to%
0o/o
Not surprisingly, prior
visitaUon is the most
prevalent among the
Colorado segments.
Msitors choosing Vait
for an ovemight trip are
more likely to be prior
visitors than those
ctroosing Vail for a day
trip.
Overthree.fourths of
Out of State visitors
have been to Vailbefore. ..
Overhalfofall '
Intemational visitors 1o
Vail have visited $ie:
resort before.
CO Day CO Orcmlght Out of Statr mGrflational
Change in PriorVisitation
Vail Prior Visitation Ghanges
97198 vs. 98/99
Prior to this trip, have you visited Vail before?
-'.a..a.valr R E -crrt
iESEARCfl IEAX
98'99 ilIAZE SURVEY
END OF:SEASON SUMMARY
Page 14
97/98
. Overall, prior visitation is virtually unchanged at Vail in the past two seasons.
-^/\ -.
Vrrr R gtor rt
iESEARCX TEAT
98/99 M4EE SURVEY
END OF SEAS@N SUMTUTARY
I r I
Equipment Type
Equipment Type by Market Segment
Percent of Visitors
g*9296
73U,
B*
12%
7%_--__ -3t6 rt6
Locel CO Oay CO o,trcmlght Out of State Intematlonal
Ghange in Equipment Type
Vail Equipment Type Changes
97/98 vs. 98/99
97198 98/99
There is virtually no difference between equipment type at Vail in the past two years.
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1O0o/o
90%
80%
70o/o
60%
S0ofo
40o/o
300h
2OVo
10%
Oo/o
At Vail, Locals
"nO
I
CO Day visitors are
twice as likely to be I
snouboarders than I
the other segrnents.
Msitors from I
Cotorado "* morr I
likely to be on other
eHfrff::j"."#*l
skates, etc.) $31 6e
ffiffi;." l
:lf*"if:B'"d: I
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Skier Skier
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2%
-6%
Bed Base Distribution
Over three-fourths of
guests who ski at
Vail mountain stay in
Vail.
International guests
who ski Vail are
more likely than any
othersegment to
stiay in Vail.. CO Orcmight guests
arc rKtne likely to
stiay in sunounding
Eagle County than
other guests.
Vail Guest Bed Base
Where Vail Guests are Staylng:
Distribution
by Market Segment
lOOo/o
SOlo
600/o
4OYo
2oo/o
Oo/o
Percent of Visitors
Y"n r*
Out of State lntemationalCO Oremight
Ghange in Bed Base Distribution
Vail Bed Base Distribution Changes
97/98 vs. 98199
100%
80%
60%
40o/s
2OYo
0o/o
Percent of Visitors
80% 7S%
s%L-j-| s% z* 3% i%
9"*,*,
\%
Bed base distribution for
Vail guests has not
changed significantly in
the past two Years.
Vail visitors stiaying in
other Eagle CountY bect
bases suctt as Avon,
Arrowhead. and
Edwards increased this
season, as did visitors
staying in Summit
County.
The number of visitors
staying in Beaver Creek
and skiing at Vail
decreased slightlY.%
.-:4.^
Yrr! RGtcrtr
nfaErnE|r tEAr
98'99 MAZE SURVEY
ENDOF SEASON SUMMARY
Page 16
tlBeaver Creek lOther
!I
Vrrs Rctortr
REEEIRCII TEIX
98'99 MAZE SURVEY
END OF SEASON SUMMARY
Type of Accommodation
100%
900h
80%
70%
60%
50o/o
40%
30%
20%
lOTo
Ulo
Type of Accommodations
Vall Ovomlght Gu$ts
Out of State !ntemational
I
Paid toctging (hotel, condo, ",".fis the most commonly used
accommodation type for Vaill I
destination visitors. I
CO Ovemight visitors are nearly
twice as likely to stiay in a I
second home or with friends J
than any other segment.
Intemational visitors are more I
fikefy to payfor todging anct |esf
likely to stay with
ftiends/relatives or in a se@nd -home than Out of State visitors.I
COOtemight
Length of Stay
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Vail Overnight Guest Length of Stay
l1-z E lrl-r4 g r
Percent of Visitors
MEAN LENGTH OF STAY
BY MARKET SEGMENT:
GO Ovemight 3.82 nights
Out of State 6.28 nights
lntemational 9.18
COOvrmight Out of St te Intarnational
Length of Stay in Nights I
Length of stay is determined by the proximity to the resort. Generatly speaking, the shorter the travel
distance to the resort, the shorter the stay. t
As expected, the CO Ovemight segment has the shortest stays on average, while Intemational visitors stay r
the longest.I
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FEtCTlc TEAT
98199 MAZE SURVEY
END OFSEASON SUMMARY
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Change in Length of Stay
Vail Overnight Guest Length of Stay Changes
r97l9E tr198/99
8-tO ll-1.1 lstt Over 2l
Length of stay has
not changed
significantly in the
past two yeaG.
Msitors staying S.7
nights increased
slighfly, while visitors
staying &10 nights
has decreased
sligh0y.
Vail: Overall Mean
Length ofStay:
98/99 = 6.44
97/98 = 6.25
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7'\\e Total Days Skied During Vacation
Vall Overnight Guests
40o/o
300h
20o/o
1Oo/o
0o/o
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visitors ski
the least
number of
days, while
Intemational
visitors ski
the most.
IJ-4 Oays I5-b Oays E/-9 Oays llU or more
Percent of Visitors
Percent of Msitors
Vail: Mean
Number of Days
Skied:
CO Ovemight 2.71
Out of State 4.40
Intemational 5.04
VailTotal 4.32
tax 4t
-----I---2lr[----...
dra%
0*tr
CO Ovemight Out of State lntemational To&al
-r--4..Vrrr Rarolrr
tgiElic|trE.ll
98/99 MAZE SURVEY
END OF SEASON SUMMARY
Ratio of Days Skied to Nights Stayed
The Days Skied to Nights Stayed Ratio is a measure of how much time a person spends skiing on his or he
vacation in relauon to the length of stay. The higher the numbeG. the more time a person spends skiing
compared to other activities. The ratio is calqrlated as follows:
Vail: Days Skied to
Nights Stayed Ratio:
GO Ovemight - .71.
Out of State = ,/7 .70
International- 't .55
VailTotal= .67
Ghange in Days Skied to Nights Stayed Ratio - Out of State Segment
The overall ratio for Vail is two
days of skiing for every three
nights of lodging.
CO Ovemight and Out of State
visitors spend a higher
percentage of their vacation
skiing than do Intemational
visitors.
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97/98 ratio = .79
98199 ratio B .70
Variance = .09
4ont- <lr; /*J
o The percentage of time spent skiing on vacation by Out of State visitors declined nine percentage Roints in Ithe past two seasons.
2.
4.
5.
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65 percent of ovemight visitors were from out of state. states with the highest
percentage of visitor origination included: New York (11.0 percent); california (8.6
percent); Texas (8.5 percent); Florida (7.9 percent); and Illinois (7.3 percent).
Some 49 percent are in the prime fractional interest buying years of age segment of
35 to 54.
A high 47 percent of winter visitors to Vail have incomes over $150,000, thus
income-qualiffing them as prospects for a fractional interest purchase.
The average length of stay in the winter season is 6.4 nighs (including 3.8 nights for
Colorado residents, 6.3 nights for out-of-state visitors, afi9.2nights for
intemational visitors). This is a positive increase over the average of 6.3 nights for
1997/1998 and bodes well for the fractional interest market.
Seasonality of Tourism
As with the vast majority of mountain resort areas, there is significant variation in
seasonality of tourist flow into Vail. We can demonstate this by looking at monthly changes in
three indicators, including occupancy rates, Average Daily Rates and Sales Tax collections.
This information is found in Tables IV-l through IV-3, and can be summarized as follows:
Table IV-l: Occupancy Rates. The year-round occupancy rate in Vail in 1998 was
55.1 percent, down slightly from 59. I percent in 1997 , but slightly higher than the four-year
average from 1995 through 1998 of 54.7 percent. On an average monthly basis for the four
years, the range was from l8.l percent in May to 85.0 percent in March. For December
through March, it averaged 79.9 percent. July and August averaged 66.8 percent. However, it
was only 33.9 percent in the other six months. Although not shown, the year-round occupancy
in I 999 was 52.9 percent, just slightly lower than 1 998.
Table IV-2: Average Daily Rates. The year-round Average Daily Rate in vail in
1998 was $202, up from $165 in 1995 and $195 in 1997. On an average monthly basis for the
RCI Consulting, Inc. - Eugene, Oregon 67 lYesthave Cascade: Vail, 04/00
four years, the range was from $77 in May to $274 in February. For December through March,
it averages $258. It drops to $l 17 in July and August and to $105 during the other six months.
Although not shown, the year-round ADR in 1999 was $226, slightly higher than 1998
Table IV-3: Sales Tax Collections. In 1998, $15.0 million of Sales Tax was collected
in Vail, up from $13.0 million (15.3 percent) in 1995. The monthly range was from $339,026
in May to $2,332,308 in March. Some 59.7 percent of the tax was collected in the four months
of December through March. Another 14.4 percent was collected in July and August. Only
25.9 percent was collected in the other six months.
Table fV-4: \ileighted Monthly Averages for Seasonal Demand. For the three
indicators, on average, the high month is March and the low month is May. The far right-hand
column integrates the three variables.
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Occupancy Rates, VaiI, 1995 through 1998
r99719961995 1998
Weighred
Average AverageI
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January
February
March
April
May
June
July
August
September
October
November
December
Average
79.7
78.8
82.1
41.0
t7.7
36.7
60.9
59.3
47.3
29.7
73.4
53.2
76.7
82.9
81.9
49.9
17.0
41.9
64.0
68.0
48.2
))l
23.2
7t.5
54.9
81.6
85.8
92.4
46.4
16.9
44.9
7r.6
74.4
39.4
32.0
28.8
75.6
59.1
79.0
86.0
83.5
46.2
20.6
38.2
65.8
70.0
40.8
)1 <
24.9
67.l
55.1
79.3
83.4
85.0
45.9
l 8.1
40.4
65.6
67.9
43.9
28.2
26.7
71.9
54.7
93.3
98.1
100.0
54.0
21.2
47.6
77.2
79.9
5t.7
33.2
3t.4
84.6
TABLEIV-2
Average Daily Rates, Vail, 1995 through 1998
$219
$257
$251
$133
$70
$86
$98
$98
s88
$75
sl04
s2l9
$l6s
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Weighted
Average Average
88.4
r00.0
99.1
54.9
28.2
38.4
42.0
+J.J
36.1
30.0
42.0
89.9
January
February
March
April
May
June
July
August
September
October
November
December
Average
s242
s274
s27r
$150
977
$ 105
$l l5
$l l9
$99
$82
$l l5
s246
$185
$288
$28s
$175
$84
$127
$132
sl44
$l 14
$95
sl29
$272
s202
$261
$268
s146
s69
$ l0l
sl10
$l 15
s92
$74
$107
$229
$179
RCI Consulting, Inc. - Eugene, Oregon 69 l(esthave Cascade: Vail, 04/00
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TABLE IV-3
Sales Tax Collections, Vail, 1995 through 1998
Sales Tax
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Weighted
Average AverageMonth
January
February
March
April
May
June
July
August
September
October
November
December
Total
s1,894,597
$1,816,107
$2,139,298
$791,092
s324,681
$590,685
$893,483
$867,12s
$645,902
$461,791
s6l I,147
$l-994-540
s13,030,448
$l,935,782
$1,993,389
$2240,86s
$966,993
$318,920
$s94,907
$963,717
$990,650
$630,453
s413,s73
$601,208
s2.068.851
s 13,719,308
s2,0s2,569
$2,089,673
$2,580,992
$874,427
$329,783
$630,366
$1,043,637
$ 1,073,430
$637,831
$472,836
s707,166
s2.254.709
s14,747,419
$2,115,359
s2,r53,121
$2,368,077
$ 1,107,334
$382,718
$633,400
$ l,107,882
$ 1,183,926
$735,608
$515,531
$656,596
s2.070.834
$15,030,386
$1,999,577 85.7
$2,013,073 86.3
$2,332,308 100.0
$934,962 40.1
$339,026 14,5
$612,340 26.3
$1,002,180 43.0
s1,028,783 44.r
$662,449 28.4
s465,933 20.0
$644,029 27.6
s2,491,234 89.9
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ITABLE IV.4
Integrated Averages of Seasonal Demand Indicators
Occupancy
Rates
Average Daily Sales
Tax
January
February
March
April
May
June
July
August
September
October
November
December
93.3
98.1
100,0
54.0
21.2
47.6
77.2
79.9
51.7
)J.Z
3t.4
84.6
88.4
100.0
99.1
54.9
28.2
38.4
42.0
43.3
36.r
30.0
42.0
89.9
8s.7
86.3
100.0
40.1
14.5
26.3
43.0
44.1
28.4
20.0
27.6
89.9
89.1
94.8
99.7
49.7
37.4
54.1
55.8
3E.7
27.7
)).1
88.l
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V. ECONONfiC AI\ID POPT]LATION TREIYDS
In addition to the in-area tourist market in Vail, it also is useful to look at the potential
size of the market among resident households in the overall state. In d6ing So, let us simply
assume that income-eligibility for purchase of a fractional interest share begins at $150,000.
As shown in Table V-I, the population of the entire state of Colorado is four million.
Some 55.6 percent ofthis total is concentrated in the "Front Range'- the six county area
surroundingDenver. Thestate'spopulationgenerates l,616,000households,ofwhich916,000
are in the Front Range.
Most importantly, Table V-l shows that there are 43,700 households in the Front Range
with incomes over $150,000, translating into 4.8 percent of the region's households.
Housing Trends
Table V-2 shows a l0-year median housing trend and an annual sales count for all types
of housing in Vail. From 1989 to 1998 the median home sale has increased nearly 125 percent,
from $147,000 to $330,000. Injust the past two years it has increased over l0 percent. The
total number of sales per year (roughly 400) has remained fairly constant.
RCI Consulting, Inc. - Eugene, Oregon 7l Westhave Cascade: Vail, 04/00
TABLE V-l
Number of Income-Eligible Households, Colorado, 1999
Households With
Incomes Over
s150,000
Percent of
All Households
Front Range
Adams
Arapahoe
Boulder
Denver
Douglas
Jefferson
Total
Rest of Colorado
Total Colorado
329,000
480,000
271,000
5t 1,000
1,14,000
512.000
2,247,000
1,804,000
4,05r,000
123,000
195,000
109,000
238,000
50,000
201.000
916,000
700,000
r,6r6,000
2,000
l 1,300
6,000
9,400
6,000
9.000
43,700
20,000
63,700
1.6%
5.8%
5.5o/o
3.9%
12.0Yo
4.5%
4.8%
2.9%
3.9%
TABLEV-2
All Types of Home Sales, Vail, 1989 through 1998
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Number of
Sales Median Sale ($)
1989
1990
l99l
1992
1993
1994
1995
1996
1997
1998
485
435
414
417
457
338
289
257
442
421
$147,000
$ I 50,7s0
$152,750
$185,000
$192,000
s238,750
$265,000
$299,000
$281,900
$330,000
RCI Cowuhtng, Inc. - Eugene, Oregon 72 We st have ty'C asc ade : Va i I, 04/00
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VI. CONCLUSIONS AND RECOMMEI{DATIONS
The basic conclusion of this preliminary market analysis is that sufficient demand is
expected to exist to recommend development of a fractional interest offering at
Westhaven/Cascade Club and Lodge. Obviously, actual realization of this positive conclusion
depends on a variety of recommendations contained in this final chapter.
The chapter begins by reviewing several positive and negative influences potentially
impacting the success ofthe offering. Subsequent sections address potential market depth,
product design and configruation, pricing and miscellaneous recornmendations.
Positive Influences
l. The unique attributes ofthe site itself:
the location in the Cascade Village area of Vail with mountain views and
just a short walk to a chairlift to access the entire Vail Resort Ski Area
adjacent to the high-quality 291-unit Vail Cascade Hotel and Club and the
76Vaal Cascade Condominiums, thus benefiting from inexpensive lead-
generation and already-existing amenities
No immediate competition. Austria Haus is almost sold out and no other projects
have begun constnrction (this window of oppornrnity may be closing as other
projects are in the pipeline).
Visitors trends (occupancy rates, average room rates, retail sales, etc.) in Vail are
very positive. Roughly 22 percent of summer visitors have incomes over $200,000,
RCI Consuhing Inc. - Eugene, Oregon t.t Westhsvery'Cascade : Yail. 04/00
and roughly 47 percent ofwinter visitors have incomes over 9150,000, thus
considered income-eligible to purchase into a high-end fractional interest project.
Surrounding real estate prices are high and are continuing to climb. Comparable
luxury condominium unit sales in the three nearby projects have averaged over $500
per square foot.
The client will not be testing a new product in Vail. Austria Haus has had great
success and has been embraced by the town and the real estate broker community.
Additionally, roughly 25 high-end fractional projects are in some form of
development and/or sales, largely in the Rocky Mountain ski areas.
6. Close proximity to Front Range with a mid-priced product.
Negative Influences
1. The back of the project is adjacent to South Frontage Road and near Interstate 70,
ofFering little buffer for the traffrc noise (although just the transient lodging and
employee housing units will be positioned on this side of the project).
2. Cascade Village is not within easy walking distance to the many shops and
restaurants located in popular Vail Village (although the Town of Vail provides free
public bus service from Cascade Village to Vail Village, and many will consider the
more remote location a positive).
3. The project must contain employee housing units.
4. Seasonal variances in visitor flow to Vail is sisnificant.
4.
f.
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Estimating Potential Demand and Sales Pace
It is assumed that at the outset of sales, three primary sources of sales will exist,
including: (l) existing and past guests at the 291-room Vail Cascade Hotel and 76
condominium units, and guests staying in the proposed on-site 17 condominium-hotel rental
unir; (2) other tourists to Vail; and (3) residential households in the Front Range. Each is
analyzed in the following paragraphs. An important secondary source of sales should be
realized from leads generated by the local real estate brokerage community.
l. Guests at Vail Cascade Ifotel
It is assumed in this market analysis that any entity undertaking a vacation ownership
offering at the subject property will have full access to existing and past guests at the 291-room
Vail Cascade Hotel and 76 condominium units (for a total of 367 units).
Letusassume: (1)ayear-roundaverageoccupancyrateof55percent(thefour-year
average in Vail); and (2) a year-round average length-of-stay of six nights. We can now
multiply the 367 available rooms and units times 365 nigha per year times the projected year-
round occupancy rate of 55 percent to ascertain the annual occupied room night total of 73,700.
This figure is then divided by the average length-of-stay ofsix nights, leaving 12,300 discrete
visitor parties annually staying at Vail Cascade Hotel and condominium units.
In Chapter IV, we found that about 63 percent of the visitors to Vail are between the age
of 30 and 55, the prime market for purchasing fractional shares. Due to the higher than average
room rates at Vail Cascade Hotel, this proportion is probably higher than elsewhere in the area
- estimated at roughly 75 percent. The next step therefore is to reduce the 12,300 guests by 25
percent. This leaves about 9,200 annual discrete guests staying at the at the hotel who are age-
eligible to purchase fractional shares.
We will further assume that roughly 60 percent of these 9,200 hotel guests will have
incomes over $150,000, thus considered income-eligible to purchase fractional shares. Again,
this is a higher percentage than overall Vail due to the higher than average room rates at Vail
RCI Consulting, Ine. - Eugene, Oregon t)lle sthavedC as cade : Vai I, 04 /00
Cascade Hotel and condominiums. This annually yields about 5,500 age, and income-eligible,
hotel and condominium guests
If a strong in-house marketing progam is implemented, perhaps 10 percent ofthe appropriate
5,500 guests could be atFacted to attend a fractional interost sales presentation, or about 550.
We will conservatively assume a close rate of five percent (lower than timeshare due to the
much higher prices).
The preceding assumptions result in about 28 fractional shares annually sold to guests at
the 291-room Vail Cascade Hotel and 76 condominiums.
Regarding the 17 on-site condominium-hotel rental units, we will use the following
assumptions: (l) a year-round average occupancy rate of 55 percenq (2) a year-round average
length-of-stay ofsix nights; (3) 75 percent are between 30 and 55; (a) 60 percent have incomes
over $150,000, resulting in 1,500 age- and income-eligible on-site guests.
We will further assume that l0 percent will attend a sales presentation and five percent
will purchase. This results in eight annual fractional shares.
2. Tourists to Vail
It was noted in Chapter IV that about 700,000 visitors annually visit Vail and the
surrounding area. We will assume: (1) an average visitor part sizn of 2.5; (2) 14 percent are
income-eligible to purchase fractional shares; and (3) 63 percent are between 30 and 55 years of
age.
Application of the preceding assumptions means that roughly 24,700 discrete visitor
parties arurually come into the Vail area for vacation purposes and are age- and income-eligible
to purchase fractional shares.
The question now becomes, what percentage of these visitor parties can be atftacted to a
fractional interest sales presentation? Normally, the proportion ranges from one to five percent,
being lower in larger, spread-out destinations such as Palm Springs, and higher in smaller,
confined areas such as the Vail area. Reasons for the proportion being higher in smaller,
confined areas relate to marketing and advertising - it is always easier to create awareness of a
product/service when consumers (i.e., tourists) congregate in limited areas. The proportion also
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IRCI Consulttng, Inc. - Eugene, Oregon 76 l4 e st have ry'Casc ade : Vai l, 0 4/00
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I normally is higher if the resorts being marketed have adequately funded marketing programs,
t offer a high Suality product, have recognizable names, etc. It is anticipated that all ofthese
I criteria would apply to a fractional interest offering at Westhaver/Cascade Club and Lodge.
- So let us make the following assumptions: (1) 2.5 percent of the appropiate 24,700
I visitor parties can be attracted to a fractional interest sales presentatiory (2) 5.0 percent will
purchase, and the average purchase will be 1.0 shares. This results in an annual sales volume of
I 3o fractional shares.
I 3. The Resident Market
In Chapter V, we found that about 43,700 households witlr incomes over $150,000
I reside in the six "Front Range" counties surrounding Denver.
I Normally, it is practically impossible for any singular project to generate more than 0.1
I to 1.0 percent ofappropriate households to attend a sales presentation. But, the proportion
I could increase to perhaps 2.0 percent if the marketing was extensive (and therefore expensive)
t and professional, the products were of high quality, the companies had brand n€tmes, and the
I market area was fairly confined. Some of these criteria apply to the overall Vail are4 the
I subject properfy, and the designated market area, while others do not.
I For lack of better information, let us simply assume that 0.5 percent of income-eligible
households could be athacted to a fractional interest sales presentation at Westhaven/Cascade
I Club and Lodge and five percent will purchase. This results in an annual sales volume of 11
fiactional shares. The following chart lists the four sources ofsales, resulting in an annual total
I of77 fractional interest sales, or peaking at about six per month.
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source
Vail Cascade Hotel and
condominium guests
on-site guests
in-area tourists
Front Range residents
total
fractional shares
28
8
30
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I RCI Consutting, Inc. - Eugene, Oregon 77 llesthave Cascade: Vail, 04/00
In Chapter III, we found that monthly sales paces at the listed fractional interest projects
vary greatly, from one to 38 shares. Two projects had extremely high initial sales paces during
their initial offerings, largely due to pent-up demand. The majority are selling less than 10
shares per month.
Due to typical start-up challenges for Westhaven/Cascade Club and Lodge, we will
conservatively assume roughly tlree sales per month over the first six months, resulting in l8
sales, increasing to the firll six sales per month starting in the seventl month. Accordingly,
projected sellout of the 132-share project (l I units times l2 shares per unit) will take roughly
fwo years (assuming a well-funded and professionally-conducted marketing and sales program
is implemented from the outset).
Proposed Offering Plan and Pricing
As noted in Chapter III, sizes of fractions in the various projects vary widely from 1/4 to
l/13 interests. Westhaven/Cascade Club will offer 132 memberships with each providing a 1/12
fractional ownership interest in a club suite. The Club will offer four classes of membership,
including: Platinum, Gold, Silver and Bronze, ranging in price from $66,000 to $275,000 per
membership.
The 132-member club will consist of I I Platinum members, 33 Gold members, 44
Silver members and 44 Bronze members. Priority status within each class will be seeded
annually on a rotation basis to establish the order for selection of reservation weeks and other
space availability.
Platinum and Gold members will be able to select continuous weeks including holidays
if they so desire. All classes of memberships will be able to use whatever club unit is available
to him for his selected reserved weeks, or other space available based upon his selection
position and seeding status within his class of membership. Based upon the composite
allocations ofguaranteed weeks for the various classes ofmembership, 44 ofthe 52 annual
weeks are accounted for with the remaining being accessible to members on a space available
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IRCI Consulting, Inc. - Eugene, aregon 78 lYe s t have ry'C a cade : Yai 1, 04/00
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basis, depending on the status in class and the seeding order. Reservations shall be made in
order of sequence, being (l) Platinum, (2) Gold, (3) Silver, and (a) Bronze.
The premium Platinum class of membership will provide five weeks of use for the club
suite with exclusive and priority reservation privileges as to time and location for two winter
weeks, two summer weeks, one shoulder week and additional time on a space available basis.
It will also have privileges for priority reservations and reduced rates in the 17 daily
accommodation suites at the Westhaven/Cascade Club and Lodge.
The Gold class of membership will provide five weeks of use for the club suite,
including two winter weeks, two summer weeks and one shoulder week and additional time on
a space available basis with reservation privileges based on its position in the priority seeding
system.
The Silver and Bronze classes of membership shall each provide three weeks of use for
the club suite, including one week in winter, one week in sumrner, one shoulder week, and
additional time on a space available basis with reservation privileges based on its position in the
priority seeding system.
Following is the recommended initial pricing schedule:
Platinum
Gold
Silver
Bronze
totaYaverage
memberships/unit
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1ata
$/membershio
$275,000
$220,000
$100,000
$66,000
$133,250
$/week
$55,000
$44,000
$33,000
$22,000
Miscellaneous Recommendations
l. Anticipate marketing and sales costs of about 17.5 percent. This is lower than tle
industry average because of the expected association with Vail Cascade Hotel for
lead generation purposes.
RCI Consulting, Inc. - Eugene, Oregon 79 llest have ry'Casc ade : Vai l, 04/00
2. Immediately establish a good relationship with the local real estate agent
community. This should result in an excellent source of leads (perhaps 25 percent).
The agent should given an athactive commission.
3. Fund a high quality local marketing pro$am in the visitor publications, real estate
magazines, etc. Also, establish good signage to athact drive-by and walk-by taffic.
4. Immediately establish locations in the area to intercept visitors. "High ticket" retail
shops, for example.
5. A professional resale progmm should be established at the outset. For example,
every fifth sale at the project should be a resale, assuming any exist.
6. Consider offering discounted or "fiee" lift tickets to two members per unit while in
residence (if such a deal could be struck with Vail Ski Resort).
7. Establish a relationship with one or more of the nearby golf courses. Discounted
greens fees and advanced tee times for members should be sought.
8. Implement as many personal services as possible.
9. Prepare a very high quality brochure and video
10. Attempt to create a "buffer" between the project and South Frontage Road.
I l. As an alternative consideration for the 17 one-bedroom daily transient lodging
suites, subject to being permissible, perhaps create a separate class of membership in
the club that would provide those members with 'ouse privileges" and benefits for
advance reservations and rate concessions. Based on implementing this format as a
"points based system," we feel it would be possible to readily sell the memberships
to utilize and better absorb the approximate 6,000 daily lodging nights available to
provide increased lodge occupancy and revenue to the club. The town ofVail
would also benefit, as their gross revenue from room tax would increase with greater
daily usage by members, which would be significantty higher than otherwise
expected from historical typical occupancy ofother lodge units in Vail.
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IRCI Consulting, Irrc. - Eugene, Oregon 80 We sthav en/Casc ade : Ya il, 04 /00
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I Financial Performance
I Conduct of a feasibility analysis for a fractional interest development involves many
I variables and assumptions, as described in the following paragraphs. Due to the relative
newness of the industry, its ever-evolving business operations, etc., the following pro forma is
I less exact than it would be for a hotel or many other land uses. However, industry rules-of-!
thumb have been generated and refined over the past years, and the following analysis is as
t accurate as possible at this time.
The variables and assumptions include:
l. 1l fractional interest club units generating 132 club memberships
2. all two-bedroom two-bath units with l,250 square feet
3. land cost of $1.8 million, provided by client
4. site work of $140,000, provided by client
5. infrastructure costs of$360,000 (paving/walkways, drainage, landscaping/irrigation,
other/miscellaneous), provided by client
6. building construction cost of $6.2 million, provided by client
7. FF &E of $600,000, provided by client
8. soft costs offive percent ofhard consftuction costs
9. start-up costs of $250,000 (includes the many items required to initiate a new
projects, e.g., marketing set-up, collaterals, G&A, advertising, etc.)
10. Construction loan interest and fees of$500,000, provided by client
I l. Financing costs of $600,000, provided by client
12. Sales office budget of $250,000
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I RCI Consuking, Inc. - Eugene, oegon 81 lltesthavety'Cascade : Yail, 04/00
In summary, €Bsumed *product costs" are as follows:
item
a. land
b. site work
c. infrastructure
d. hard consruction costs
e. FF&E
f. sales ofiice
g. soft costs
h. construction loan interest and fees
i. financing costs
total product costs
fractional
interests
s1,800,000
$140,000
$360,000
$6,200,000
$600,000
$250,000
s347,500
ss00,000
$600.000
s10,797,500
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Following are assumed other costs as well as income from various sources.
13. a pricing schedule provided earlier in this chapter
14. condominium-hotel sales of 17 units at $4,000,000 total, provided by client
15. a sales pace previously suggested in this chapter
16. an annual price increase of seven percent
17 . marketing costs of nine percent of gross sales
18. sales commissions of 8.5 percent (including bonuses, over-rides, etc.) of gross sales
19. G&A costs offive percent ofgross sales
20. For the financing component:
a. an average interest rate on fmanced confiacts of 1l Dercent
b. a hypothecation rate of 10.0 percent
c. average consumer loan terms of 120 months and 10 percent down
d. one percent delinquency/default rate per year
e. 40 percent ofsales will be financed
RCI Corculting, Inc. - Eugene, Oregon 82 lV esthoyen/Cas c ade : Vail, 0 4/00
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an end-note financing percentage (i.e., the hypothecation advance rate) of90.0
percent
g. 1.0 point for hypothecation financing costs - the industry average
h. annual pre-payment rate ofthe consumer notes balance of 12.0 percent
The preceding assumptions result in the following prelininary pro fomra income
statement for a proposed fractional interest offering at Westhaven/Cascade Club and Lodge:
gross sales (fractional shares)
value of condominium-hotel unie
total sales
cost of goods sold
gross profit
operating expenses (factional shares):
marketing expense
sales expense
G&A expense
sun up expense
total operating expenses
profit before taxes
s18,376,430
$4.000.000
$22,376,430
$10,797,500
$l1,578,930
$1,653,880
$r,562,000
$918,820
s250.000
s4,384,700
$7,194230
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I RCI Consuhing, Inc. - Eugene, Oregon 83 IYe st hayen/Cas c ade : Vai l, 0 4 /00
RCI Consr-rlring uscs thc conrlrlementary srrengrhs of its principals,
Riclrarrl 1,. Ragarz., Ph.D., and John F. Sweeney-and the vast resourccs
of irs parent company, RCI to help resort clcvclopers, hospitality
management companics and financial institutions achieve success and
profitability in the vacation ownership business.
RCI Consulting's research superiority is led by Richard L. Ragatz,
Ph.D., a l.righly respected market researcher and leasibility analyst special-
izing in recreational real estare. Flc earncd his <loctorate from Corneli
University with trn cnrphasis in urban and regional planning and research
methods. Dr. Rag;atz has participated in more than 1,000 national ancl
international research and consr-rlting studics in 46 states and 26 countries.
John F. Sweeney is the industry's acknowledged authority on the
devclopment, markcting, salts an,l management of vacation ownership
propcrtics. His career spans more than l0 years in resort development,
including experience in land sales, design, clevelopment an<l construction,
srrategic planning, and salcs antl marketing. He has served more than
200 rcsort clients in j2 states and 19 countries.
\flhether you'rc iltcrestctl in applied matker research, industry
stu(l;cs, comnrunity economic impact analyses, resoft feasibility analyscs,
strategic plannin.e, or marketinll and sales nlarragement, RCI Consulting
can provide you with the services that will help betrer ensure the
profitability of your vacation ownership venture.
R(, I (,oNSIJI,TING IS ONE OF
1'H E IIIVE IN'I'ECRATLI)
CC)MPANIES OF R(]I
( R LSoI{T (]ONDOM INII]MS
INTERNATIONAL), 1'llll
WoR LI)'S LAR(IEST VA(-A'I ION
Ii X(. tl A N (;ll (.OM PA NY
The vacation owncrship industry is dynamic, progressive and lroisetl
with unlimited potential for growth. 'lb bc successful, you need the
cxlrcrtisc oF an innovative company that understan<ls thc nuances of ttre
business and can hclp you capitalize on opportunities. That company is
RCI Consulting.
RCI Consulting provicles successful srrategies fbr developing,
marketing and managing vacatior.r owncrship properries. Serving the
ncccls of developers, sales and marketing companies, fir'rancial institutions
and public agencies, RCI Consultirrg is rhe source fbr authoritative
answers for all fbcets of the vacation owncrship br:siness.
Under tl.re learlcrship of Richard L. Ragatz, Ph.D., and John F.
Sweeney, two of the industry's learling cxpcrts, RCI Consulring offers
nn utrparallcled breadth of services fiom start-u1r to salcs ancl markerinSl
to management. By provicling reliable and current market infornration,
thorough analyses, and result-oriente(l salcs ancl marketing solutions,
RCI Consulting enhances your success.
MLMBER I:A M II,I I S ANI)
THI INDUSTRY'S MoST
I] XTII N SIVE EXCHANGI
NE'I WORK OI' MORN THAN
I,O{)0 AFFILIAl ET) RLSoRTS-
NO OTI] I] R ORGANIZATION
oFIiI] RS A BI{oAI)I]R RAN(IE
oI: SERVICES OR NIoRE
IiIRSTIIAND EXPLI{ I EN(-E,
R( I CURREN'I LY T'OA5TS
MoIt II THAN TWO MII-LION
() 1996 R(irrnl Condom n ums Inlernaiional. Inc. 11r96
886010?A A lf(]hrs reseryed Prinredin USA.2013454
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CLIENTS
AMFAC
AMERICAN RESORT DEVELOPMENT ASSOCI ATION
ARCADTAN IIOTILS
CAREFREE R ESORTS
CHRYSLER CAPITAL REALTY
DTSNE Y VACATION DIVELOPMENT
FAIRTIILD COMMT] NI'I'IES
FOIJR SEASONS HOTELS AND RTSORTS
GRUPO POSADAS (FI!STA AMERICANA HO'I'ELS)
IIILTON GRAND VA C AT Ic)NS COMPANY
HYATT VACATION OWNERSHIP RESORTS
ING CAPITAL
MARRIOTT OWNERSHIP RESOR't'S
MITSIII TR US'I AND BANKING COMPANY
TISHMAN HOTEL CORPORATION
VISTANA RESORT DF:VEI-OPMENT
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CSfibumngaRCt"
767 Willamette Street . Suite 307 . Eugcnc, Oregor,9l4Ol . 54I.686.933t . fax: 541.686.aI42 . richard.ragarz@ rcic. rci.com
1050 East Flamingo Road . Suite \X/lt6 . Las Vegas, Nevada 8! I 19 . 7O2.(t99,9311 . fax 702.699.)712
RCI Consulting, lnc. is one of thc RCI family of companies.
RCI Vorld Hcadquartcrs ' 1502 l7oodview Tiace . Indianapolis. Indiana 46268-l 104
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Westhaven Condominiums
Design Details 4,za.1D
H,alu pV{atlp
RECESSED DECK
?fuao flNt+11
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LoUtr-\t
Vpr,q. r*
Pno HFltsH
+rAivt{4 +AU
Mzyhv Wf
.GARAGE LOUVRERS
--?Tn-:HiNN\nd
----=-_
5v'CT::i-r-vo
0UVO8 M3!AIH frJ.:ii$tO
, -?lVA JCI N!/rr1O-i!: '' ijl;rC:jcj-:,i1
l4?TA' I?r'l
HT,V"HT
1ru@ rtNftH
ROOF FASCIA & SOFFIT
Ahw b?Yatlo
lvr* ar
lfzttx 7ll
TDY FAIL
7+t * l4tr pAL,
y"rl* rllqlaY r+.,tL
rzerArlct
.l4ef&t- 7V/+91;y,
-Arua Fttlt+H
DECK FASCIA & RAILING
)
- b x(t,T4 laLU
BEARING COLUMN @ RAILING
STAIRWELL OPENING SILL
"1{u -
, ('. --
DATE:
FIX XUIIEER:
FOr
AOIIEIflFIONr
sua{rDcTr
In accordanc€ eith our cllscuEslons Eubseguent to the Tonn Counclll'+cttng on April 4, l99s r rould like to canflrts thc fqlleving;
1. tle have consldered Lhe queetJ.on salsr:rl aIruuL rlesrenolng GFRAand lncreasinE enployee houelng unite aild havc ceue up rith aEoluLlon wlth fiathy langenralter, Thls lnalutles addlng a 6O0eg,f,t. one bGdtroon one bath aaployee housing unlt to bc usEd as thebuildlnge t{anagerB unlt and r€novlngf one b€(l:rootr aud Dttn tron €achof tco for sale 3 bedroon condonlniun units. Thus we incraase theeaf,,loy€B bsuslng unlts to 1? and hold the for eale condouj,niununits at 14 but consiEting of, twelve three bedroon units rnd trctro b€Oroou unige. Ttri8 cnangcs the ratio of the ad{l€d GFRA toappfoxinately 40t for enployee houeing.
Ile cannot Justlfy adding four cnployee houaing unlte ln lleuot ono for eale condoninlun aE flas auggected by Counciluanstelnborg. This rculd have changad the nr:nbeEs to twenty rnployeehoueing units and thirtean for eale unlt and thiE yill not roih forus e{tber fwrctlonally or econonical}y, I trnrst the prior propered
sugEestion wilt br acacpttble to ttre Councll on th6 €Bcond ieadlhg.It not, lt would force us into revislng thc bullding to onlyinclude elght €Dployec houslnE unlts and trrelve -for salecondo,nlniun unltE cuah that err r{ould stay ln accord with theorlglnal GPltl requirenents. Ifc do not cBnt to do thie, btrt lf thcCouncll would lnsist then it rould beaode ths only alterrrative. vfedo not f,eel the trade off, of nl.ne nore suployee houslng unltl (1.e.lI2* notc) f,or tho apDroxLnate 12t added GPRA ln tlre for ealecondoniniuu unlts ie unreaaonablc,
FAX TRATTSiltTT.AT.gREEA
JSRALD r,. $ntttnt{A}f
83O BELTA VISTA COURT SOUTH
.'I'PII!ER,, FI'RIDA 71477
PHONET 407*747-e2A0 FAXr 4o7-747-L912
IPRIL 7r l99B
/-3o3- q qq-Jrl5a
Folfil OP VAIL
AlfDy KlltxlEor{
WEE|fiHAVEII,/CASCADE FROJE T
Td ildES:EE E65T Ttr 'JdU SAee LFL t@F : '0N fNOHd urstrr u-t-tfg : Noul
PaEe 2
1[own of VailAprir 7 ' L95
A. Although it ie intendad to keep the- rnplolg-ee. houslng ulitP
uncler single "*tt ;;i;';d ih; inception of the proiGct we do feer
ir wourd ue n"anin?i'il1;;;t;--l;;-.igltt to sett--the individual
enployee housi.ng
- uirrts to onrrer Jcru-iint" at Eone tfuae ln ttte
fEturc lf, t?re situetlon arines. Since-your prcBent ordinance for
iuproi.*-nousins u;ffi. d;iii= "qiei of- eane' hte eould llke bo gee
thc council rctein thie for Teathiien. I suggeet adulnlsterlng
natterg on the followlng baelsc
r|rhe l{eethaven Condoninlq! Assoeiation thensel'ves Pould have
tc Feview ond appio\te tlt Ohtners reqrlect to SeII his unit-fnd
thay woute ii-riii sane on thc baaii of reguiring a notarlzed
afftdavit froi ttre SEIJER Gtstil,g that -he ie conveylng- the
property t" a nontiide and qucriliia candldate_uho is worlclng
ln Ehc vail valroy ee tequtrea in the ordlnance' Ehis
authorlzatfo" iV ln'. f.esocti{ton wou}d bccotre a preragrisite
for the tlti; atptmi to oro"t tlro ral'e on ^th1 eubject unlt
and flould be Giiitir into tne deed regtrictlon which was
reccrd,ed fr;r' the Ernpleyac llouel'ng ttnlte'
AlEo, the lltle csspany rould have to roceive a notariaed
affidavit fJo. tnJ-iu'ir's enptoyer verlfying the basls on
whlch he rJ worxtng fur Ehr Lupioycr'. Ehie too vould br
properfy *titC"n-{nto the decd restrictlonc and becoue a pre-
requlslte tor ine tltle uoupanfr to consunnate o oloclnE' r
have dlscuaiea l'[i=-frocearrre ritth stesart Title coupany and
tney ae€ no- piourbn .with inprementils- lht ebove' l
"o"iiEnfne i"ttirr is being pt"pa{"9 b-y thSn and silr be sent
to us aecorrlingly, A bdpy - sitl te fornardcd for your
rrfcrence.
This certalnly seene to be a way for the Torrn to control the
liie ot enp-ioi,cl-nousirrg unltE -ulrhout navlng io be irrvolved
in Ure clliect aftlnistratlon. AlEo, the year end status
rdport req"ii"a by HteToflq of valt E'Il'u' grdlnance vould lre
fited Uv til-Conhouiniun AJeoclatlon wlth proper verifylng
aocunen€ation of any prop€rty ttransfers'fr
Ehe issue af Rsaale $9 control could be tnco4)or-ated into tne deed
restrtciion as Ic aone in Aapcn, Avon, and-laEla Corutty' !e aI€
;Ilii-?rd;-{ng-on-the nanner fn irricn the E.H.U. rill share in the
Westhaven CorrOodn{un iJso{:iation operating elpensee, but expcct to
nive iomidti"s ?-oilou-ptior to tire Ap:i1-18, 1ee5 neetlns. I
truet tne secondilatiitiq?Cvour propoeeb ordinance will go nell eo
that we can get on with the project. i . ^ /.#""g UJ'-/^ ^'%
firaldrl-. Wtrlt:lnan
cc: Xathy L,ang€nnalter -Ronby Rabinson J
zd l^ld6s:za s66T trI 'rdu aazz. LFL zat : '0N
=l.loHd
ursin u't"l3g : H0ul
MEMOBANDUM
Planning and Environmental Commission
Community Development Department
February 27, 1995
A request for a major amendment to SDD #4
completion of the Westhaven Condominiums
Westhaven Drive/Cascade Village, SDD #4.
, \'\t\' \
Cascade Village to allow for the
(The Ruins) located at 1325
POut', t\ i lr'tt \.j4.1 \
1\"TO:
FROM:
DATE:
SUBJECT:
li,,r'-
A{,
1.1'
z.'- \ I
Applicant;
Planner:
Gerald Wuhrman, General Manager of the Westhaven
Condominiums
Andy Knudtsen
I. PROJECT DESCRIPTION
The applicant is requesting a major SDD amendment for the Westhaven Condominiums site.
This is one of the parcels located within Area A, Cascade Village, SDD #4. In 1982, the Town
issued a building permit for this site and construction started. After a foundation and first floor
parking structure had been completed, construction stopped. The current proposal is to
complete the work, taking the existing improvements and using them as the first floor.
A major SDD amendment is required as the applicant is proposing to change the number of
dwelling units and increase the amount of GRFA. Both of these modifications trigger the
major SDD amendment review process. The approved SDD allows twenty free market units,
ten employee housing units and GRFA of 22,500 square feet for the free market units and
6,400 square feet for the employee housing units. The proposal includes fourteen free market
dwelling units, sixteen employee housing units, 25,284 sq. ft. of GRFA for the free market
units and 7,707 sguare feet of GRFA for the employee housing units. There is a change to
the ratio of free market and employee housing units but not an increase in the overall
number of dwelling units. ln addition, there is an increase of 3,784 square feet ol
additional GRFA for the free market condominiums and 1,304 square feet of additional
GRFA for the employee housing units.
In addition to the modifications requested regarding density, the applicant is proposing minor
modifications to the architecture, landscaping and site coverage requirements. The SDD
required 50% of the site to be landscaped. The applicant is proposing 47.9%. The site
coverage limitation is 35% and the applicant is proposing 36.7%. These aspects of the
request will be discussed in greater detail later in the memo.
The other development standards are generally the same as the previous project. There will
be enclosed parking on the first tloor of the structure and three lo four stories of
condominiums above the parking level. Though the architectural style is different, the mass
and bulk of the building is basically the same because the lootprint of the existing foundation
will not be modified. Please see the development statistics on he following pag_e for a
detailed comparison of the standards allowed by the SDD, the development standards for the
1982 approval, and the standards associated with the proposed devel6pment.
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II. BACKGROUND REGARDING DEVELOPMENT STATISTICS IN SDD #4
Special Development District #4, Cascade Village, is made up of four subareas. Area A is
made up of the Westin Hotel, Cascade Club, CMC, Millrace Phases I through lV, Westhaven
Condominiums, LiftsideANaterford, and Cornerstone. Area B is the Coldstream
Condominiums. Area C is made up of the Glen Lyon duplex lots. Area D is the Glen Lyon
Office Building. Development statistics are provided for each area. As a result, the site
coverage stipulated for Area A, which is 35%, applies to approximately 18 acres. Rather than
require the applicant to provide a site coverage analysis of approximately 18 acres, in the
past, staff has applied the development statistics to each lot individually. This has been the
practice since approximately 1990. The projects that have been reviewed under this method
include Cornerstone, Waterford, Millrace Phase lll and Millrace Phase lV. The advantage to
this method is that it allows a calculation of the development statistics on the land that is
being reviewed and does not require off-site analysis. In the previous examples, the
proposals complied with the development statistics when calculated for the individual lots and
the proposed drawings clearly conformed with the maximum development allowances
provided for in the SDD.
When the staff reviewed the development standards on the individual parcel for this project,
there are three development standards which the applicant exceeds. This includes GRFA,
site coverage, and landscaping. The developer agrees that the request for additional GRFA is
above what the SDD allowed. That request is evaluated in greater detail in the criteria below.
However, the site coverage discrepancy (1 .7%) and the landscaping discrepancy (2.1"h1 may
not actually be discrepancies, depending on the method of calculalion. Staff acknowledges
that the discrepancies are not significant. Moreover, staff acknowledges that the SDD states
that site coverage and landscaping should be calculated lor the entire Parcel A, of which the
Westhaven Condominiums is a small oart.
Recent development approvals, specifically Millrace Phase lV, did not take advantage of all of
the available site coverage or landscaping required. Specifically, for Millrace Phase lV, 9,900
square feet of site coverage was "left on the table". Similarly, there was approximately 10,000
square feet of landscaping which was provided in excess of the minimum amount required.
These figures cover the 1.7% (or 639 square feet) of site coverage overage and the 2.1"h (o(
745 square feet) of landscaping deficiency.
In conclusion, staff believes that it continues to make sense to evaluate each parcel
individually. From a record keeping point of view, stafl believes that the development
standards for each site should be calculated based on the land under the proposed
development. This has been the method for the last five years and staff believes it is
reasonable to continue to use it. Notwithstanding the simplicity of this method, staff
acknowledges that the site coverage and landscaping discrepancies identified in the memo
should not be viewed as significant issues as, elsewhere within Area A, there is excess site
coverage and landscaping which could hypothetically be shared.
5tD r-../u'^
11 ENu'.s
0.85 acres or 37,026 sq. ft.Lot
Zoningi r4
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d*r"tr t (tftfl 1982
Previous
Plans
47Height:
GRFA:
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A(rc.r"n\?i,'-HC g
,,"P";,|*'6i;.,,rthl.ff'.'b P't z) t zt f".:f
EHUs:
Total:
Common Area:
Density:
Free Market:
EHUs:
Setbacks:'
Site Coverage:
Landscaping:
Retaining Walls:
Parking:
Employee Housing:
6.400 sq. ft.
28,900 3q. ll., or 78ch
10,115 sg. ft. or 35%
20 dwelling units
10 EHUs
30 total units
20' on periphery
of the property
35% or 12,959.1 sq. ft.
507o min. or 18,513 sq. ft.
J/O
26.680 sq. fl.
26,680 sq. tt., or 72'h
4,261 sq. ft. ot 14.7oh
0 dwelling units
20 EHUs
20 total units
rtY
34.3/" or 12,686 sq. ft.
41.2!o or 15,24! 3q. ft.
none proposed
37 enclosed (78%)
10 exterior
47 total spaces
26,284 sq. ft.
7.704 sq. ft.
33,988 sq. ft.,T$ii
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sp
3,417 sq. ft. or 11.8%&
14 14 dwelling u
rr l{EI.b.
1f- 30 total units
24
\r44 ft" "n
36.7o/c or ts,s{e sq. ft. dY'.r
47.sE or rztlt.q "o.ff#t
none proposed
36 enclosed (80o/.)
9 exterior.ffial so""u.,---)
t1 ldEHUs, similar to
Type lll restrictions
^t((lz > 7 t447- - tv-A&6i
minimum of 8 units: 20 units; however deed
minimum of 648 sq. ft. each; restrictions are not clear
should not count towards
density or GRFA.
'SDD requires a seback measurement on the periphery of the SDD. Staff has measured one setbach which is the distance between
the building and the north property line. The northern property line is the only one which also is the periphery of the Area A of the SDD.
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tv.SDD CRITERIA
A. Desion compatibilitv and sensitivitv to the immediate environment.
neiqhborhood and adiacent properties relative to architectural desion. scale.
bulk. buildino heiqht. buffer zones. identity. character, visual inteqritv and
orientation.
The proposed building reflects the general architectural style of the Cascade Village
area. The building will have a standing seam metal roof, stucco walls, and metal
railings for the balconies. The pitched roof is broken up in several different areas by
gables and hips. There are a variety of covered and open decks on both the north and
south elevations which add interest to the building. Staff has provided reductions of
the drawings at the end of the memo which show the proposed architecture, as well as
the architecture of the building approved in 1982. The 1982 approval was based on a
building module that was repeated five times, and the building also had a flat roof.
Staff believes that the current proposal incorporates much more variety and will be a
better contribution to the Cascade Village area than the 1982 design.
The applicant is proposing a building that is 55 feet tall. The SDD allows for a building
of this height. The previous building was proposed to be 47 feet tall. The applicant
has provided the roof elevations of the surrounding buildings and the proposed building
would be 19.3 feet lower than the Cascade Club, the same height as the CMC
Building, and 25 feet taller than the Millrace Building to the south. lt is approximately
30 feet taller than the elevation of the South Frontage Road. After walking the site.
staft believes that the height of the building will not appear to be excessive when
viewed from the South Frontage Road or the Interstate. The ridge of the proposed
structure is located 125 feet south of the Frontage Road and 55 feet from Westhaven
Drive. Statf believes that the height ad.iacent to Westhaven Drive may be significant;
however, it is important to keep in mind that the roof ridges comply with the height
limits set forth in the SDD.
Of the three areas where there is a discrepancy between the proposed drawings and
the zoning standards setforth in the SDD, one is site coverage. The SDD allows 35o/o
site coverage or 12,959.'l square feet. The applicant is proposing 36.7"/o or 13,598
square feet. Due to the 1991 change in the definition of "site coverage", there are
three areas of roof overhang that currently count as site coverage, that would not have
counted as site coverage during the 1982 review. lf these three areas are excluded,
the total site coverage is reduced to 34.4/'. Staff believes that the added architectural
features of deep roof overhangs help break up the massing and add visual interest.
One of the concerns raised at the PEC worksession on February 13, 1995 was related
to the first floor of the south elevation of the building. This will be the wall enclosing
the parking structure which, at the worksession, did not have any openings in it. ln the
last two weeks, the applicant has redesigned this wall creating four openings for
louvers. Staff believes that this is a step in the right direction but that there should be
two additional openings created. Staff understands that due to the foundation's
structural character, it is not possible to add additional arched openings in the areas
betvveen spaces which have already been created. lnstead, staff recommends that the
design include recesses of a similar shape to match the other openings. We also
recommend that the louvers be finished in a way that is aesthetically pleasing. As an
example, for the police addition, the Town finished exhaust louvers from the parking
structure with cedar boards which match the exterior finishes. Staff believes that with
these changes, the vlsual quality of the first floor of the building will improve.
In general, staff believes that the design compatibility and the proposed architecture
relative to the scale, design, bulk, and height of adjacent properties is reasonable. The
building does not exceed the height allowed in the SDD. According to staff, the design
of the building is a significant improvement over the design approved by the Town in
1982. The overall scale of the building is reasonable given the context of the
surrounding buildings. The one negative aspect of the proposal which staff has
identified is the height of the building relative to Westhaven Drive and Millrace Phase
lll. Though the proposed structure will be higher than the Millrace lll Building, staff
believes the amount of landscaping located between the proposed building and the
street will help buffer the proposed mass and bulk. In summary, staff believes that the
proposal fulfills the criteria in this section.
B. Uses. activity and densitv which provide a comoatible. efficient and workable
relationship with surroundinq uses and activitv.
The proposed use, thirty condominiums, is an appropriate proposal for this location, in
staff's opinion. We believe that adding density. in the form of restricted employee
housing, to the Cascade Village area is appropriate. Staff will discuss the details of
the employee housing under criteria D below. One of the most significant issues
involved with this proposal is the request for additional density.
The applicant is proposing 26,284 square feet of GRFA for free market dwelling units
and 7 ,704 square feet of GRFA for employee housing units. The total GRFA proposed
is 33,988 square feet. This is 3,784 square feet more for the free market dwelling
units and 1,304 square feet more for the employee housing units than what the SDD
allows. Staff would like to emphasize the fact that there are sixteen employee housing
units as part of this proposal. Of the total floor area for the project, 7,704 square feet,
or 22.7"h, is dedicated lor employee housing.
The SDD allows various options regarding the employee housing and the {loor area
associated with the housing. lt is clear that the SDD allows up to ten employee
dwelling units and 6,400 square feet of floor area without diminishing the development
potential of the free market unils. However, it requires that eight dwelling units at a
minimum of 648 square feet each (or 5,184 square feet total) be included as employee
housing in the project. This allowance and requirement should be used in evaluating
the request for additional floor area for both the free market and employee houging
units.
Unrelated to employee housing, the applicant has included 4,340 square feet ol floor
area in fourteen separate lock-offs. Each free market dwelling unit will have one lock-
off of approximately 310 square feet.
Given all the various requirements and limitations, stafl believes that the density
increase is acceptable as the overall mass and bulk are compatible with the
surrounding uses and buildings.
C. Compliance with parkinq and loadinq requirements as outlined in Chapter
18.52.
All parking and loading requirements have been met.
D. Conformity with applicable elements of the Vail Comprehensive Plan, Town
policies and Urban Desiqn Plans.
The key elements of the adopted Comprehensive Plan that pertain to this proposal
relate to employee housing. The SDD requires a minimum of eight employee housing
units at 648 square feet each for a total of 5,184 square feet. The proposed plans
include sixteen employee housing units ranging in size from 425 to 550 square feet for
a total of 7,704 square feet. The previous proposal included tvventy dwelling units,
ranging in size from 1,020 to 1,648 square feet, for a total of 26,680 square feet. The
employee restrictions that were to apply to the previous project are not clear. Although
the Town has no documents on record, we believe that there was an agreement that
the employee dwelling units would be used by the employees of the Westin Hotel.
There are several goals and policies from the Land Use Plan which pertain to the
employee housing:
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 Dermanent resident.
Additional residential growth should continue to occur primarily in
existing platted areas as appropriate and new areas where high hazards
do not exist.
5.3 Affordable employee housing should be made available through private
elforts assisted by limited incentives provided by the Town of Vail with
appropriate restrictions.
5.5 The existing employee housing base should be preserved and
upgraded. Additional employee housing needs should be
accommodated at various sites throughout the community.
Staff believes that the way the employee housing is incorporated in this project is
consistent with the Goals and Policies of the Land Use Plan as listed above. Statf
would like to emphasize that the goals to maintain growth within existing areas, that
employee housing should be created through private efforts, and that the employee
housing base needs to be upgraded are all directly fulfilled with this proposal. Staff
believes that the Cascade Village area is an excellent location for sixteen employee
housing units. The units will be located on the bus line, will be within walking distance
of a ski lift to the mountain, and will also be adjacent to a major employer, the Westin
41
Hotel.
The applicant has discussed the type of deed restriction that would be required as part
of this project with staff and believes that the Type lll EHU deed restriction should be
used. This is much more restrictive than the previous agreement. The Type lll deed
restriction is attached at the end of this memo. Staff believes that two modifications
should be made to the deed restriction for this project. The first is that the units should
not be sold individually. The second is that the size requirement (450'square feet
minimum) should be waived in this case. Staff believes that with these two
modifications to the deed restriction, that the proposed project fulfills the goal of
providing employee housing better than the 1982 project.
At the PEC worksession, there was a significant discussion regarding the Type lll deed
restriction and whether these units should be sold separately. Though stalf is
recommending that they not be sold separately, several PEC members believed that
individual ownership would be reasonable. Staff has considered the input carefully and
believes that the Aspen housing example should be considered. When units are
individually bought and sold, the Aspen Housing Authority is the listing agent and
reviews all prospective purchasers to ensure that they comply with Housing Authority
standards. At this time, the Vail Housing Authority does not have the staff or the
authority to be the listing agent for the individual sale of units. We would recommend
that the Town move in this direction to allow the sale of these type of units; however,
since the system is not in place at this time, we would recommend that the units
continue to be held by one owner. lf in the future, the Town does expand its housing
authority role, we support the idea of individual ownership, whether it be for owner
occupied units or for local business owners to be able to provide housing for their
employees.
E. ldentification and mitiqation of natural and/or qeoloqic hazards that affect the
orooertv on which the soecial develooment district is oroposed.
There are no hazards which effect this proposal.
F. Site plan, buildinq desiqn and location and open soace provisions desioned to
produce a functional development responsive and sensitive to natural features,
veqetation and overall aesthetic qualitv of the communitv.
Adjacent to the site to the north is a large berm. On the north side of this berm is a
scar made when the South Frontage Road was constructed. A utility pole is located at
the highest point of the berm and a second pole is located to the east at a lower
height. Staff believes that as part of the redevelopment of this site, the applicant
should be responsible for regrading and revegetating this scarred hillside. We believe
that the applicant should lower the berm height so that its steepest grade does not
exceed 2:1 . ln order to do this, removing the utility poles would be required. Staff
believes the applicant should be responsible for undergrounding a stretch of utility line
from the pole adjacent to this site, to the third pole to the west and regrading and
landscaping the berm. Staff has reviewed the regrading plan submitted by the
applicants since the worksession and believes that the applicant has addressed these
issues thoroughly. Please see the attached diagram.
The site plan includes a surface parking area for nine spaces. lt is located between
the building and the Frontage Road. Due to changes in elevation and due to its
location, north of the building it will not be highly visible.
The proposed landscape plan includes five 1O-foot tall spruce, six 8-foot tall spruce,
and seven 6-foot tall spruce. In addition, there are twenty-seven 2-inch caliper aspen.
Staff believes that a critical aspect of the landscape plan is to berm up and screen the
south elevation of the first floor of the building. The first floor of the building adjacent
to Westhaven Drive is the parking garage and will have a solid wall. lt will be setback
approximately 25 feet from the edge of pavement. The first floor will be unbroken
stucco, approximately 11 feet high. Staff believes it will be imperative lo provide a
.significant amount of landscaping in this area to provide an aesthetically pleasing
pedestrian level.
It is important to note that the SDD requires 50% of the site to be landscaped. The
applicant is proposing 47.9/' ot the site to be landscaped. Staff believes this
difference may be justified if the improvements discussed above regarding the grading
and landscaping in the right-of-way are accomplished.
Statf believes that the slight reduction in the minimum landscaped area should be
supported. The regrading of the berm, the burying of the utility lines, and the
landscaping plan are all high quality improvements that come as a result of this
project.
G. A circulation svstem desiqned for both vehicles and oedestrians addressino on
and off-site tratfic circulation.
Circulation systems which are affected by this proposal include vehicles, pedestrians,
and bicycles. Concerning the vehicles, staff believes it is a straight foruvard design that
ties into the existing street system appropriately. The pedestrian bike path crosses a
corner of the site and staff is requiring that the applicant provide an easement for this
public access. Concerning pedestrians, staff believes that the applicant should
construct a sidewalk, not only adjacent to this property, but also to the east. The SDD
requires a sidewalk connection from the bikepath to the eastern edge of the property.
The applicant has indicated a willingness to construct this at the beginning of the
process. In addition to this basic requirement, statf believes that the applicant should
also construct a sidewalk in front of the Cascade Club which will connect this project to
the bus stop, the Westin, and the lift service. Though not immediately adjacent to this
parcel, and though not required as part of the original SDD, staff believes a sidewalk in
this area is critical as a result of this proiect, especially given the sixteen employee
housing units.
H. Functional and aesthetic landscapinq and ooen space in order to ootimize and
preserve natural features, recreation, views and functions.
Staff believes that the landscaping plan is high quality. We believe that the number of
plants proposed is adequate as there are five 10-foot tall spruce, six 8{oot tall spruce,
and seven 6-foot tall spruce. In addition, there are twenty-seven 2-inch caliper aspen.
We believe that the quality of the design could be improved if the spruce shown
between the foundation wall planting and Westhaven Drive were increased in height.
We would recommend that each spruce be increased by 2 feet.
;
originaily, staff had thought that the appricant shourd provide a randscaping bufferalong the Frontage Road-. This is not'reas,o[-". tn" srope south oi *,Jiront"ge Roadrs very steep' The appricant-hi: T""jd*.some planting between tn" oriroing and theFrontage Road in areas closer to the buirding ino surrace parking rot, where the rotbegins to flatten out.
t.
V.
There is no phasing plan for this project.
Prior to submiring an apprrcation for Design Review Board (DRB) review, theappricant shail modif y the architecturat chiracter of the first itoo, ,""il
"l"""ntto westhaven Drive to incrude two aooitionarircneo recesses between theopenings shown on the south etevation of the tuitOing.
Prior to submitting an application for DRB review, the applicant, shall revise thelandscape ptan showing_,!":r tl".rprlce to be ltanteO between the buitOing anOwesthaven Drive wi, each be 2 feet higherlnJn wnat is shown on the currentlandscape plan.
Prior to issuance of a buirdrng permit. the applicant shat sign Type , EHUdeed restrictions tor the srxteen emproyee ddrring units. The deed restrictionsshail be modified to ailow froor "r"" ,."quir"r"nt. to be ress in"n +so ,qr"r"feet and shail be rooir,eo to disailow irioiu'orii o*nership. rf the Town of VailHousing Authorrty increases its lta-tng ano-rote regarding the individuar sare ofdwelling units, the units may be sord sleparatery. untit tnit time, the units sharlbe held under one ownership. + ..i- .-^' t, 6-r_*, _n*=< *. t
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1.The building, including the garage, must be sprinklered.
fiT:ft:rt may be needed tor Z4-inch corrugated metat pipe crossing
Provide curb and guiler next to sidewalk for the entire length of theproperty.
4' prior to issuance of buirding permit, civir engineering prans for roadimprovements must be reviewed ano approieJ oy tne rown ot vaitEngineer.
5' An easement for the bike path shourd be dedicated to the pubric.
VI. CONCLUSION
stan recommends approval of the major SDD amendment. we believe the proposal fulfills
*fffif;:l as discussed above' we aie recommending approvarwitn tne forowing eight
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4.Prior to issuance of a building permit, civil engineering plans lor road
improvements must be reviewed and approved by the Town of Vail engineer.
Road improvements shall include curb and gutter for the entire length of the
property and a sidewalk as discussed in Condition 7.
Prior to issuance of a building permit, the applicant shall dedicate an easement
for the bike path that crosses this property.
Prior to issuance of a Temporary Certificate of Occupancy (TCO), the applicant
shall regrade and revegetate the berm adjacent to the site in the Colorado
Department of Transportation (CDOT) right-of-way so that its northern slope
does not exceed 2:1.
Prior to issuance of a TCO, the applicant shall remove the two utility poles
adjacent to this site in the CDOT right-of-way and shall bury the utility line to
lhe third utility pole west of this property.
Prior to issuance of a TCO, the applicant shall construct a sidewalk in the
Westhaven Drive right-of-way. This sidewalk shall extend from the western
edge of the property at the bike path to the east to the entrance to the Cascade
Club.
The entire building, including the garage, must be sprinklered.
c.
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7.
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TYPE III EMPLOYEE HOUSING UNIT
RESTBICTIVE COVENANT
WHEBEAS.is the owner ol
csnain property cthe owner") described as:
("the Property'); and
WHEREAS, the Oivner wishes to place certain restrictions on th6 use of a unit or apanment
localed on the Propeny lor the benerit of the orvner and the Town of vail, cotofado (.the TownJ.
NOW. THEREFORE, the O,vner does hereby impose, €stabtish. acknowtedge, declar€ tor the
benetit ot all p€rsons who may hereinatler purchase, or lease. or hotd the subiect tand the loltotving
restriclions. oovenants, and condilions, a[ ot which shalt be deemed to run with the tand and inure to
thE benetit and be bonding upon the Owner, its respective grantees, sr.rccessors, and assigns,
Unit or Apaflment _, contatning _ square leel is hereby restricted as
a Type lll Employe€ Housing unit (EHU) which must comply with all thg provisions ot
Sections 18.57.020. 18.57.030, and 18.57.060 uf the Vait Municipat Code as ameadeg.
Th6 Type lll Eftployee Housing Unit sha be leased to tenants who ar6 tu -lime
employees rvho work in Eagle County. An EHU shalt not be teased lor a period teis
than lhirty consecutive days. For the purposes ol this section, a full-time employee is
ong who works an average ol thtrly hours each week.
A Type lll EHU may be sold. transferred, or conveyed separately from olher clwelling
unils or Employee Housing units that may be located on tho same lot or within the
sarne building so long as it mests the lollowing conditjons:
ta) ll musl b6 used by th6 owner ol the EHU as a permanent residence. For the
purpose ol this paragraph. a permanent tesldence shalt m€an the home or
placE in whici one's habitation is tired and to which ono, whsnever he or she
is absenl, has a presenl intentbn of rgturning altef a departurg or absence
therelrom. regardless ol the duration ot absence. In determining what is a
p€rmanenl residencs. lhe Town stalt shal taks tho fotbwing circumslances
2.
rD
telating to th6 owner ot the tesidence into account: business pursuits'
efnployment' in@me sources' tesidenc€ lot income ot othet tax purposes' age'
matitalstatus,tesidencaotpaTonts.spouseandchitdtenifany'locationol
p€rsonal and real ptopefly. an motor vehicle re0isration'
b) ll a Type llt EHU is sold, ttanslerted, or @nveyed s€Patately lrom thc olhat
. dlvelling unils and/or Type llt Etrployee Housinl Units in a multilamity
t
structurg is apart of, or lrom other dwelling units and/or Type lll EHUS located
on th6 same tot, tne Tipe lll EHUS in the structure or on thal lot shalt b9
subiect to all the provision set lorth in Sec$on 18'57'020'
4.ThoTyp€|ttEHUsha||notbgdividedinroany|ormoltimesha|es,interva|ownership.
". or fractional lee ownership as lhose letms ar€ defined in the Municipal Code of the
Town of Vail.
5. No taret than Febfuary 1 ol each yeal, the owner ol each employee housing unil within
thetownwhichisclnsl'ucted'ot|owingtheet|edivedateo|lhischaptersha||submit
two copies ot a teport oil a torm to be obtained |tom the Community Developmenl
DeDanment,totheCommunityDevelopmentDepanmentotthsTownolVailand
chairman ot the Town ol vait Housing Authority sening lorth evidence establishing lhat
the employee housinq unil has been rented throughout lhe year. the rental rate' lhe
emp|oyer,andthateachtenantwhoresideswilhintheemp|oyeehousingunilisaful|.
time emptoyeo in Eagle County'
6.TheowneroleachEHUsha|t'enltheunitatamonth|yrenb|'atgclnsistentwithor
lower than lhose matket tates prevalent lor similat properties in lhe Town ol Vail'
7. The Town ol vail Housing Authority will determina tho mafhet rate based on lhe study
o| oth6l units o| comparab|e size, |ocation, qua|iry and amen|t|es throughout the Town.
Themarkelratesha||bebasedonanaveraogo|aminimumo||iverenla|raleso|
comoarabte units. ll the unit is not rented and is not availablo at the market rate it shall
be determined to bE in noncompliance. In addition to any ohet penallies and
testrictions ptovided hetein, a unil found lo be in noncompliance shall be subiad to
publication as delermined by the Housing Authotity.
& Thlrty days prbr b tr|e transfer of e d€sd bf a Typ€ tu EHU, the prospecrivo
purchalcr shall submit an applice$on b ho conrnunlty D3\r€lopfmnt Departm€nt
documontno lhat he prospeclive purchassr meetS tha criteria 3€t torh aborc and shall
lncNude an affldavit atfrmi!! ttul he or 3ho ms€ta heso critena-
Tho p.oybior|3 Ot th33e resuilivo corcnanE may b€ 6r orcad by fi3 oYurcf enal tha
Town.
Th6 condltions, rBstrictions. sf.outatbns. and aoreom€nE oontaind hor€in sha not be
wahed. abudoned. lernunalod. or arnond€d a,(capt Dy th€ wlt€n conssnl ot boh ths
Toyvn ot Vall and |he Omer of ho p,oporty.
TOWN OF VAll- a Colondo munDipat coporrtion
Bob McLaurin, Town Manager
Th6 foreoolng instrument was acknowtedged b€tor6 me this _ day ot
Notary Public
lvly commission grpires:
Property Of,n6'3
The tor€going instrument was acknowtodged b€toro me thls _ day ot
Notary Publb
9.
10.
By:
By:
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Updated 4-19-95
Lot Area:
Zoning:
SDD
5D
22,500 sq. ft.
6.400 sq. ft.
28,900 sq. ft., or 78%
10,1 1 5 sq. ft. or 35o/"
20 dwelling units
10 EHUs
30 total units
20' on periphery
of the property
35% or 12,959.1 sq. ft.
5(M min. or 18,513 sq. ft.
376'
75ol. shall be enclosed
44 spaces required
minimum of I units;
minimum of 648 sq. ft. each;
should not count towards
density or GRFA.
ilt.
Height:
GRFA:
Free Harket:
EHUs:
Total:
Common Area:
Density:
FrEE Market:
EHUs:
Setbacks:t
Site Coverage:
Landscaping:
Retaining Walls:
Parking:
Employee Housing:
0.85 acres or 37,026 sq. ft.
SDD
1982
Previous
Plans
47',
0 sq. ft.
26.680 Eq. ft
26,680 sq. ft., or 72%
4,261 sq. tl. ot 14.7o/"
0 dwelling units
20 EHUs
20 total units
39'
34.3% or 12,686 sq. ft.
41.2!o or I 5,243 sq. ft.
non€ proposeo
37 enclosed (78ol.)
10 exterior
47 lotal spacas
TOWN COUI{C|L
APPROVED
4-19-95
25,644
8.296 so.ft.
33,940 sq.ft.
no change
14
17
31
24'
36.7% or 13.598 s.f.
47.97o or 17,767 sq.ft.
none
45 spaces
required
PEC
APPROVED
2-27-95
55'
26,284 sq. ft.
7.704 q. fi-
33,988 gq. ft, or 911%
3,417 sq. ft. or 1 1.8ol"
14 dwelling units
16 EHUs
30 total units
24'
36.7% or 13,598 8q. fi.
47 .9F1" or 1 7,707.4 S.F.
none proposeo
36 enclosed (80o/.)
9 sxterior
45 lotal spaces
16EHUs, similar to
Type lll restrictions
20 units; however de€d 17EHUs, similar
restrictions are not clear Type lll restrictions
'SDD requires a setback msasuremsnt on th€ periphery of the SDD. Staff has measured one sstback, which is the distance between the
building and the north property line. The northern property line is the only one which also is the periphery of the Area A of the SDD.
f\averyone\pecvnemoVuins. 2?
Jim Curnutte pointed out that Kathy was correct, however, that the Land Use Plan
states that the various designations are drawn very general in nature and were nol
based on a lot by lot review of properties like zoning is.
Bill Anderson stated that he was in favor of this proposal and that the Town would
receive the benefit of an easement for a golf cart path, as well as a road easement
which will allow the future recontiguration of Vail Valley Drive. Bill stated that he is all
for lhe request and pointed out all of the public benefits (easements, water district
improvements, etc.) associated with the request.
Kathy Langenwalter felt that the best use of this land would be park or open space as
it was located in between land zoned park and land zoned residential. She was not
comfortable with turning the site into a residential area. She also questioned the need
for additional residential in this area.
Allison Lassoe felt that Tract C should remain open space.
Dalton Williams disagreed with Kathy's comment that Tract C should remain open
space or park. He did not feel that the site would necessarily solve the congestion
problems at Gold Peak but merely move them towards East Vail. This being the case,
he did not have a problem with the proposed change to the Vail Land Use Plan.
Bill Anderson made a motion lo approve the request for a change to the Vail Land Use
Plan from Park to Low Density Residential per the staff memo including the four
conditions on Pages 8 or 9 with a wording change to Condition 4 as follows:
4. The Water District has agreed that if the transfer of ownership of the raw
water intake system and associated equipment (pump station, backwash
pipe, vaults, etc.) to the Vail Recreation District is not be completed, and
if the system is not able to become fully operational, within three years
from the date of approval of the Land Use Plan change, it will
immediately be removed at the expense of the Water District.
Bob Armour seconded the motion and a 4-2 vote approved this request with Kathy
Langenwalter and Allison Lassoe opposing this item.
8. A request for a major amendment to SDD #4 Cascade Village to allow for the
completion of the Westhaven Condominiums (The Ruins) located at 1325 Westhaven
Drive/Cascade Village, SDD #4.
Applicant: Gerald Wuhrman, General Manager of the Westhaven CondominiumsPlanner: Andy Knudtsen
It should be noted that Kathy Langenwalter stepped down as chairperson of the PEC
for this item as she is the architect.
Andy Knudtsen made a presentation per the staff memo. He stated that stafl was
Planning and Environmental Commission Meeting Minutgs
February 27, t 995 13
recommending approval of this request for a major amendment to SDD #4 with nine
conditions contained on Pages 9 and 10 of the staff memo.
Kathy Langenwalter, the architect for the project, stated that she would like to address
staff's conditions on the project. She requested that Condition #1 be eliminated from
the list because the structure of the foundation would not allow for additional
architectural details. She had added "score lines" in the stucco to try to address the
concern of staff; and would move the tall trees away from the architectural features to
bring more attention to them. Concerning Condition #2, she telt that given the extent
of the off-site improvements proposed by the applicant, that the staff's request that the
spruce trees be 2 feet higher was unwarranted. Concerning Condition #3, Kathy
requested that the units be allowed to be sold separately.
Robbie Robinson, of Slifer, Smith and Frampton Real Estate, stated that they would
like to be able to offer the employee housing units with the option to sell them off
individually.
Bob Armour asked if the 3% cap on resale price would be included as a condition.
Mike Mollica reiterated that staff would like to see the block of units remain deed
restricted as commonly owned, until such time as the Housing Authority increases its
staffing and role regarding the individual sale of dwelling units. He stated that the
Town Council will ultimately have to make a decision regarding staffing.
Concerning Condition #4, Kathy Langenwalter stated that it should include curb and
gutter for the entire length of the property except for the short distance to the west of
the bike path. Kathy stated that they had no problems with Conditions #5, #6 and #7.
Concerning Condition #8, Kathy stated that it physically did not work to construct a
sidewalk in the Westhaven Drive right-of-way for the "interconnect" section between
the Cascade Club and the Ruins. Concerning Condition #9, she stated that they were
planning to sprinkler the entire building, including the garage.
Dalton Williams was concerned about people parking at the Ruins. He stated that "he
nearly slipped and busted his rear" coming from the movies a couple of weeks ago.
He felt that it was important to have a sidewalk in this location since there were
employee housing units being located at the Ruins and that access to the bus service
should be provided.
Andy Knudtsen stated that the Town Engineer was planning to overlay Westhaven
Drive upon the completion of the Ruins project.
Dalton Williams said to strike Condition #1 . Regarding Condition #3, he felt it was
important thal the employee housing units be either owner-occupied or commonly
owned, and not a scenario in-between. He would like to see the sidewalk issue solved
and wanted to keep Condition #8.
Allison Lassoe felt it was important that the bike path easement be dedicated to the
Planning and Envircnmental Commission Mesting Minutes
Fsbruary 27, 1995 14
o
public.
Bill Anderson stated that he agreed that Condition #1 be struck. Condition #2 he said
should be addressed by the DRB. Concerning Condition #3, he felt that it should
reflect any fulure action regarding this issue by the Town Council. Concerning
Condition #8, he felt it would be difficult to establish an "interconnect" between the
Ruins and the Cascade Club but that it should be studied.
Bob Armour did not have a problem with the proposed additional GRFA. He wanted
Condition #'l and #2 to be stricken. Concerning Condition #3, he telt it was important
that the Town get a gurantee from the applicant that the employee housing units
remain employee housing units. He thought Condition #B should be struck.
Greg Amsden was nol in favor of the proposal. He stated that the density increase
was not appropriate in this location. He did not feel that additional GRFA should be
the trade off for employee housing units and was concerned this could set a dangerous
precedent. Outside ot this, he stated that Conditions #1 and #2 should be stricken.
He also said that a31' cap should be put on the units if sold separately.
Bob Armour made a motion to approve this request for a major amendment to SDD #4
Cascade Village to allow for the completion of the Westhaven Condominiums (The
Ruins) per the staff memo with the following changes:
1, Prier te submitting an applieatierFfer Design R€view Beard (DRB) review; the
te Westhaven Drive te inelude twe additienal arehed reeesses between the
epenings shewn en the seuth elevatien ef the building,
I, Prier ts submitt
landseape plan shewing that the spruee te be planted between the building and
Westhaven Drive will eaeh be 2 feet higher than what is shewrFerF{
lands€ae€+latu
3. Prior to issuance of a building permit, the applicant shall sign Type lll EHU
deed restrictions for the sixteen employee housing units. The deed restrictions
shall be modified to allow floor area requirements to be less than 450 square
feet and shall be modilied to disallow individual ownership. lf the Town of Vail
Housing Authority increases its stalfing and role regarding the individual sale of
dwelling units, the units may be sold separately. Until that time, the units shall
be held under one ownership. ln the future, when a:system is established to
monitor the purchase of Employee Housing Units sold separately, the deed
restricted Employee Housing Units may be sold separately for owner-occupied
use only,
Planning and Envrronmental Comm|ssion Mestinq Minuteg
February 27, 1995 15
a o
Prior to issuance of a building permit, civil engineering plans for road
improvements must be reviewed and approved by the Town of Vail Engineer.
Road improvements shall include curb and gutter from the eastern edge of the
bikepath to the western edge of the curb cut servicing this prope;ty. fer-the
Prior to issuance ol a building permit, the applicant shall dedicate an easement
for the bike path that crosses this property.
Prior to issuance of a Temporary Certificate of Occupancy (TCO), the applicant
shall regrade and revegetate the berm adjacent to the site in the Colorado
Department of Transportation (CDOT) right-otway so that its northern slope
does nol exceed 2:1.
Prior to issuance of a TCO, the applicant shall remove the two utility poles
adjacent to this site in the CDOT right-of-way and shall bury the utility line to
the third utility pole west of this property.
Prior to first readlng at Town Council, the applicant, the Town Engineer, and the
Town planning staff should study the potential ol constructing a connection of
s-idewalks between the Westin Hotel and the Westhaven,Gondominiums. lf
feasible,
@this sidewalk shall extend from the western
edge of the property at the bike path to the east to the entrance to the Cascade
Club.
The entire building, including the garage, must be sprinklered.
Concerning Condition #8, Kathy Langenwalter felt that the issue of the sidewalk
needed to be discussed further with the Town Engineer.
Dalton Williams seconded the vote and a 4-1-1 vote approved this request with Greg
Amsden opposing. Kathy Langenwalter abstained. Jeff Bowen was not present.
9. A request tor a major amendment to SDD #5 (Simba Run) to allow for modifications to
the previously approved development plan for the Savoy Villas Development located
on an unplatted parcel at 1100 North Frontage Road.
Applicant: Walid Said
Planner: Jim Curnutte
Jim Curnutte made a presentation per the stafl memo. Jim stated that staff was
recommending approval of this request for a major amendment to SDD #5 with eight
conditions outlined on Pages 12 and 13. Jim also pointed out that staff was concerned
about the proposed changes in the architecture and asked for PEC feedback.
Planning and Environmental Commis6ion Meeting Mihutes
Februarv 27. 1995
+.
5.
6.
7.
8.
q
16
PI,ANT }4ATERI#
PROPOSED TREES
AND SHRUBS
BoE.anical Name ar"*t"q?" ouantitv size*
.--EE- Aj-nk-H€:->r-l-rVvr7 CF>:i'
*rndicaEe caliper for deciduous trees. Minimum caliper fof
deeiduous trees is 2 inches. rndicate heighE for coniferous
trees. Minimum heiqhL for coniferous trees is 6 feeL.**Indicate size of proposed shrubs. Minimum size of shrubs is
5 qalIon.
Type Square Footaqe
GROT'ND COVERS
soD
SEED
TYPE
OF IRRIGATION
TYPE OR METHOD OF
EROSION CONTROL
C. LANDSCAPE LIGHTING: If ext.erior lighting is proposed, please
show the number of fixtures and locaLions on a separate
liqhting plan. rdentify each fixcure from Ehe lighting plan
in Lhe space below and provide the height. above grade, type of
lighL proposed, lumen out.puL, Iuminous area and a cuE sheet of
the light- fixture. (SecLion L8.54.050 J)
OTHER I-TANDSCAPE FEATURES (retaining walls, f ences, swimming
pools, etc.) Please specify. Indicate heights of retaining
watls. Maximum height. of watls wiLhin the front set'back is
3'. Maximum height of walls elsewhere on the property is 6'
53?,
RLue 1",?t+:- 4?Zo'F
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PROVIDE CHANGES TO AREA A REQUIREMENTS FOR SDD NO. 4
THAT CONCERN THE DEVELOPMENT PLANS FOR THE WESTHAVEN CONDOMINIUMS
(THE RUINS) DEVELOPMENT SITE;
AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, Gerald Wuhrman has requested an amendment to the existing Special
Development District No. 4, Area A; and
WHEREAS, the Planning and Environmental Commission has recommended that certain
changes be made to Special Development District No. 4; and
WHEREAS, the Town Council considers that it is reasonable, appropriate, and beneficial to
the Tourn and its citizens, inhabitants, and visitors to repeal and reenact Ordinance No. 7, Series of
1993 to provide for such changes in Special Development District No. 4, Cascade Village.
NOW, THEREFORE, BE IT ORDAINED BY THE TO\^N COUNCIL OF THE TO\^JT{ OF VAIL,
COLORADO, THAT:
Ordinance No. 1, Series of 1993, is hereby repealed and reenacted, as follows:
Section 1. Amendment Procedures Fulfilled. Planning Commission Report.
The approval pocedures described in Chapter 18.40 of the Vail Municipal Code have been
fulfilled, and the Town Council has received the recommendations of the Planning and Environmental
Commission for an amendment to lhe development plan for Special Development District No.4.
Section 2. Special Development District No. 4
Special Development District No. 4 and the development plans therefore, are hereby
approved for the development of Special Development District No. 4 within the Town of Vail.
Section 3 Chapter 18.46 SpecialDevelopment District No.4, Cascade Village, is hereby
repealed and re-enacted with amendments to read as follows:
18.46.010 Puroose
Special Development District No. 4 is established to ensure comprehensive development and
use of an area in a manner that will be harmonious with the general character of the Town, provide
adequate open space and recreational amenities, and promote the objectives ol the Town of Vail
Comprehensive Plan. Special Development District No.4 is created to ensure that the development
density will be relatively low and suitable for the area and the vicinity in which it is situated, the
development is regarded as complementary to the Town by the Town Council and the Planning
Commission, and because there are significant aspects of the Special Development District which
cannot be satisfied through the imposition of standard zoning districts on the area.
18.46.020 Definitions
For the purposes of this chapter, the following definitions shall apply:
A. "Special attraction" shall be defined as a museum, seminar or research center or
perlorming arts theater or cultural center.
B. "Transient residential dwelling unit or restricted dwelling unif'shall be defined as a
dwelling unit located in a multi-family dwelling that is managed as a short term rental in which
all such units are operated under a single management providing the occupants thereof
customary hotel services and facilities. A short term rental shall be deemed to be a rental
for a period of time not to exceed 31 days. Each unit shall not exceed 645 square feet of
GRFA which shall include a kitchen having a maximum of 35 square feet. The kitchen shall
be designed so that it may be locked and separated from the rest of the unit in a closet. A
transient dwelling unit shall be accessible from common corridors, walks, or balconies
without passing through another accommodation unit, dwelling unit, or a transient residential
dwelling unit. Should such units be developed as condominiums, they shall be restricted as
set forth in Chapter 17.26 Gondominiums and Condominium Conversions. The unit shall not
be used as a permanent residence. Fractional fee ownership shall not be allowed to be
applied to transient dwelling units. For the purposes of determining allowable density per
acre, transient residentialdwelling units shall be counted as one half of a dwelling unit. The
transient residential dwelling unit parking requirement shall be 0.4 space per unit plus 0.1
space per each 100 square feet ol GRFA with a maximum of 1.0 space per unit.
18.46.030 Esrablished
A. Special Development District No. 4 is established for the development on a parcel ot
land comprising 97.955 acres as more particularly described in the attached Exhibit A.
Special Development District No. 4 and the 97.955 acres may be refened to as "SDD No.
4.
B. The district shall consist of four separate development areas, as identified in this
ordinance consisting of the following approximate sizes:
Area Known As Development Area Acreage
Cascade viflage
Colds tream Condominiums
Glen Lyon Duplex Lots
G]en Lyon Commercial SiteDedicated Open Space
Roads
A 17.955
c 29.l_00
4.000
1.800
40.400
4.700
97.955TOTAL
18.46.040 DevelopmentPlan--Required-ApprovalProcedure
A. Each development area with the exception ot Development Areas A and D shall be
subject to a single development plan. Developrnent Area A shall be allowed to have two
development plans for the Cascade Club site as approved by the Town Council. The
Waterford and Gomerstone sites shall be allowed one development plan each. Development
Area D shall be allowed to develop per the approved phasing plans as approved by the Town
Council, The developer shall have the right to proceed with the development plans or
scenarios as defined in Section 18.46.103, 1-4.
B. Amendments to SDD No. 4 shall comply with the procedures oullined in Section
18.40.
C. Each phase of development shall require, prior to issuance of building permits,
approval of the Design Review Board in accordance with applicable provisions of Chapter
18.52.
18.46.050 PermittedUses
A. Area A. Cascade Village
1 . First floor commercial uses shall be limited to uses listed in 18.24.030 A-C.
The 'Tirst floor'' or "street level" shall be defined as that floor of the building that is located at
grade or street level;
2. All other floor levels besides first floor street level may include retail, theater,
restaurant, and office except that no professional or business office shall be located 0n street
level or first floor (as defined in Section 18.24,030 A of the Town of Vail zoning code in Area
R; untess it is clearly accessory to a lodge or educational institution except for an otfice
space having a maximum square footage of 925 square feet located on the first floor on the
northwest corner of the Plaza Conference Center building;
3. Lodge;
4. MultFfamily dwelling;
5. Single Family dwelling;
6. Two-Family dwelling;
7. Transient residential dwelling unit;
8. Employee dwelling as defined in Section 18.46.220;
9. Cascade Club addition of a lap pool or gymnasium.
B. Area B. Coldstream Condominiums
1. Two-familydwelling;
2. Multi{amif dwelling.
C. Area C. Glen Lyon Duplex Lots
1. Single family dwelling;
2. Two-family dwelling.
D. Area D. Glen Lyon Commercial Site
1. Retait;
2. Restaurant and bar:
3. Business and professional offices;
4. Multi-family dwelling;
5. Employee dwelling as defined in Section 18.46.220.
18.46.060 ConditionalUses
Conditional uses shall be reviewed per the procedures as outlined in Chapter 18.60 ol the
Town of Vail zoning code.
A. Area A. Cascade Village
1. Cascade Club addition of a wellness center not to exceed 4,500 square feet.
2. Fractional fee ownership as defined in the Town of Vail Municipal Code,
'Section 18.04.135 shall be a conditional use for dwelling units in the Westhaven
multi{amily dwellings. Fractional lee ownership shall not be applied to restricted
employee dwelling units or transient residential dwelling units. Ownership intervals
shall not be less than five weeks.
3 Special attraction;
4. Skilifts;
5. Public park and recreationalfacilities;
6. Major arcades with no frontage on any public way, street, walkway or mall
B. Area B. Coldstream Condominiums
1. Public park and recreational facilities;
2. Skilifts.
C. Area C. Glen Lyon Duplex Lots
1, Public park and recreational facilities;
2. Skilifts.
D. Area D. Glen Lvon Commercial Site
1. Micro-brewery as defined in Town of Vail Municipal code, Section 18.04.253.
18.46.070 AccessoryUses
A. Area A. Cascade Village
1. Minor arcade.
2. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 18.58.130 through 18.58.190.
3. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
4. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary lor the operation thereof.
5. Swimming pools, tennis courts, patios or other recreational facilities
customarily incidental to permitted or conditional uses, and necessary to the
operation thereof.
B. Area B. Coldstream Condominiums
1. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 1 8.58.1 30 through 1 8.58.1 90.
2. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
3. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary forthe operation thereot.
4. Swimming pools, tennis courts, patios or other recreational facilities
customarily incidental to permined or conditional uses, and necessary to the
operation thereof,
C. Area C. Glen Lyon Duplex Lots
1. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 18.58.130 through 18.58.190.
2. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
3. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary for the operation thereof.
D. Area D. Glen Lyon Commercial Site
1. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 1 8.58. 1 30 through 1 8.58.1 90.
2. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
3. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary for the operation thereof.
4. Minor arcade.
18.46.080 Location of Business Activity
A. All offices, businesses, and services permitted by Sections 18.46.050 through
18.46.070 shall be operated and conducted entirely within a building, except for permitted
unenclosed parking or loading areas, and the outdoor display of goods.
B. The area to be used for outdoor display must be located directly in front of the
establishment displaying the goods and entirely upon the establishmenfs own property.
Sidewalks, building entrances and exits, driveways and streets shall not be obstructed by
outdoor display.
18.46.090 Density-DwellingUnits
The number of dwelling units shall not exceed the following:
A. Area A. Cascade Village
In Area A, a minimum of three hundred fifty-two (352) accommodation or transient
dwelling units and a rnaximum of ninety-four dwelling units as defined by the tables in
Section 18.46.103 for a total density of two hundred seventy (270) dwelling units.
B. Area B. Coldstream Condominiums
Sixty-live (65) dwelling units
C. Area C. Glen Lyon Duplex Lots
One-hundred four (104) dwelling units.
D. Area D. Glen Lyon Commercial Site
4. Three dwelling units, two of wtrich shall be employee dwelling units as defined by the
table in Section 18.46.103F.
18.46.100 Density-FloorArea
A. Area A. Cascade Villaoe
The gross residential floor area (GRFA) for all buiHings shall not exceed 289,145
square feet.
B. Area B. Coldstream Condominiums
Sixty-five thousand square feet (65,000 s.f.) GRFA.
C. Area C. Glen Lyon Duplex Lots
GRFA shall be calculated for each lot per Section 18.13.080 density control A and
B for the PrimaryiSecondary district of the Town of Vail municipal code.
D. Area D. Glen Lyon Commercial Site
The gross residential floor area for the two employee dwelling units shall be 795
square feet and 900 square feet respectively. The gross residential floor area for the free
market dwelling unit shall be 1,630 sguare feet.
18.46.102 CommercialSquareFootaoe
A. Area A. Cascade Village
Area A shall not exceed 35,698 square feet ol commercial area. Commercial uses
include retail, office, theater, restaurant, uses listed in Section 18.46.050 A-1, and the special
attraction use.
B. Area D. Glen Lyon Commercial Site
Area D shallnot exceed 16,730 square feet of office lor Phase l, lA & llor 15,584
square feet of office for Phase lll per the approved development plans. The micro-brewery
and associated uses shall be constructed per the approved development plan.
18.46.103 Develooment Statistics for Area A. Cascade Village. and Area D. Glen Lyon
Commercial Site
AUs DUs GHFA
ReraiU
Comm€rcial
Square
Fool
On-Sfte
Parking
Cascade Structure
Parking
MILLRACE I 16 20,000 20 0.00
MITLRACE II 14 17,5U 25 0.00
MILLBACE IV
Unils"'| 0,450 19 0.00
WESTIN 148 55,457 0.00 115
Atr€do's 104 Saals
Cate 74 Seal8
Liflle Shop 1,250
Pepi Spons 2391
W&HSmilh.Vaumol 900
CI\,,|C BUILDING
Cascade Wing I 15,870 0.00 t6
Clancy's |,600 o.o0 13.3
Theater 4,20 28
Collegs Classrooms 0.00 ,10
Collego Offics 0.00 4
Th€ater/M€€ting Room ZJ 1,fi7 0.00 t1.5
TERRACE WING
Rooms 120 58,069 0.00 105
Rslail 5,856 0.00 20
PLAZA 1
Rooms 20 7,m5 0.00 16
Relsil 1,099 0.00 4
PLAZA II
Conlsrsn@ 0.00 35
Relail 925 0.00 3
CASCADE CLUB
Rstail 300 0.00
Bar & Restaurent 252 0.00 3.5
Office in CMC 828 0.00
Wsllness Cent€r 1,386 0.00 7
Otfics in Club 420 0.00 1.4
TOTALS 288 AU 44 DU 184,585 19,173 72 12{i.7
CHART 1: Area A Completed Proiects
"'Forlhe purposes of calculating GRFA for lhe Cosgriff parcel (Millrace lV), no credits shall be givon oxcepl for 300 s.l. to be dlfl€d
for each endooed pa*ing space, per Section 13.46.210(cX5)0)
I
CHART 2:
PROPOSED PROJECTS
'Employ€€ Unils shall nol count to rard density or GRFA for ths purpose ot lhis SDD
*Pleze spacs has 8lready been cou ed lor a relail parking requirem€nt. The now pa*ing requirernent is basgd on tho diffarenca b€ture€n lhs tetail
and olfice parking requiremsns.
'*Tolal figures represenl highosl density and comm€rcial space sc€narios.
1. CORI{ERSTONE AU or TR DU GRFA Commorcbl
Squ €
F€.t
On-she
Prrldng
Cr!c!do
Strucu1|d
P|]khg
Unils 64 TR 28,110 53
Employoe Unib'|,800 1 | ,100
Ratail 11,100 37
TOTAI.S 54 TR 28,110 tl,tm gtt
2. WATERFORD
Units 27 56
Employee Lhits 2 1,100
TOTALS 27 47,500 58
3. WEgIHAVEN
@Nmf,N|uus
Units 20 22,s00 40
Employee Units (Max #)10 6,,100 20
TOTALS 20 22,5m 6t
4. lllr.c.lll
Units 3 6,450
TOTALS 3 5,450 7
5. Cr!c.d. Club Addhlon
Sconario | (W€llness Ce er)
or
Sconario 2 (Gymnasium)
4,500
450O
22.5
0
TOT/[!S
Scemrlo I
96nrrlo 2
4,s{Xt
4,500 22.5
6. Phzr Offfce-925
TOTAL AXUUUg.-64 Tn 50 104,560 15,526 4,500 214 zt,2
CHART3:AREA A
REQUIRED PARKING
Parking for Completed Projects per Chart 1 in
Cascade Parking Structure
Parking Spaces
426.7
Proposed Projects w/ req. parking in the
Cascade Parking Structure:
Scenario 1 - Wellness Center
OR
Scenario 2 - Gymnasium
Plaza Otfice
22.5
0.0
.07
Subtotal 449.9
Less 17.5"/o Mixed-Use Credit -78.7
Total Required Parking at Build-Out of Area A
in Cascade Structure 371.2
Existing Parking in Cascade Structure 421.0
Required Parking in Cascade Structure at
Build-Out of Area A
with 17.50/0 mixed-use credit 371.2
10
. briginal .Parcc1
f,tobJ:lns ?arccL
Cosgrlff Parcel
Ji-
.sS.EE. /papPlng Sq.Ft. .,/ parLlng
zs O:2.
. 18, 152
15,932
29r.lZt
D
PltlrSE IrIalII J\l{D III
pEirEl,oPHEr.rT
. Sq.Ft..../ ParLlng
15.60
t.23
t .045
1?. 955
252.00
1P. 6B
I
16.Jg
200.40
,YOl.r;\ t)
?}l^SD fa - plt SE IrIa & IIDE\roLOPl.lENT DaVe lOpr.tENf
' sDD 14,
'\REA
,DDEVEtopl.tEl.lT seunRE iEoorrrcuIl{D Dhru(rNG ptrR rovln bn v.rrif rr-eouurEr.rcHrs
rDBRU'\J(Y 26, 1590
Glcn l,yon.Clficc DIdg.(Ex.tsE,lng) 10r 150 .4 0 . 6
35tliEl^Glen I,yon
Orf,lcc DIdg.
"r&u. -
Glen J,yon
31d'1 .
- h f F{ r-a
:W-II.,
2iicro-Srcuery
-Of fice
-Reccpllon/l,tuseum
-RcEal1-Fcrmcntatlon/!rguhousc
-!ecr llall
-Sr.ew Pub
400 1.6 400 1.6
2, 4 00 9.6
3,?80 t5.1
400 0.01?5 .6
9?0 0.01,?00 18.0*
(150 ccaLs)11380 10.0*(80 ccaLa)
2t634. 10.5
4 B0 0.0805 3.0
11406.' 0.01,?00. 10.8*
(150 6cat,s)
Lr 3B0 10.0*' (B0"scats)
10,150 40.6 10r 150
.400
40. 6
1.6
2r400 9.6
0
0
0
0
n
suDToT ir 10r 550
.."lt sE TTr
nas! lulLdlng
-2 Empioyee
42.2 27, 435 '9 6.3
21r 4 35 9 6.3
21, 435 . 94 .1
t.
'11 69S. 1::
1,630
2t400
Unlt,s
-1 Dwclllng. Unit,
-DffLce
SUl.TOT.ftL- . 0 .. .0
To:',\L col'lt'tERcr^t IltD RDsIDDltTrltL
-sQut\r{E FooT'\GE It.lD plrRXIl.lG :
NU$ED ]IIGIIEST P.7rRP.Il.lG Il€Q. POSSIDLE DISED Oll
0 0 0.0. 0' 0 . 0.0
?'r.:
:.. .
3,325 .15. 6
| !,
?4,7 90.
I
I
I
i
Jt)/tt L IYt
10
18.46.104 DevelopmentPlans
Site specific development plans are approved for Area A and Area D. The development
plans for Area A are comprised of those plans submitted by Vail Ventures, Ltd. and other
developers. The development plans for Area D are comprised of those plans submitted by the
Glen Lyon Office Building, a Colorado Partnership. The following documents comprise the
devetopment plan for the SDD as a whole, Waterford, Gornerstone, Cascade Club Addition
Scenario 1 and 2, Millrace lV, and Area D-Glen Lyon Commercial Site and is not all inclusive:
1. Waterford, Sheet #L-2, dated 1 1-12-92, Landscape Plan, Dennis Anderson.
2. Waterford, sheet #1 .1, dated 11-13-92, Site/Grading Plan Gwathmey, Pratt,
Schultz.
3. Waterford, Sheet #2.1, dated 11-13-92, Plan Level 38/43' 3", Gwathmey, Pratt,
Schultz.
4. Waterford, Sheet #2.2, dated 11-13-92, Plan Level 48'-6'753'-0", Gwathmey, Pratt,
Schultz.
5. Waterford, Sheet #2.3, dated 1 1 -13-92 Plan Level 59'-0/64'-3" by Gwathmey,
Pratt, Schultz.
6. Waterford, Sheet #2.4, dated 11-4-92, Plan Level 69'-6'774'-9", Gwathmey, Pratt,
Schultz.
7 . Waterford, Sheet #2.5, dated 1 1-1 3-92, Plan Level 80'-0'785'-3" Gwathmey, Pratt,
Schultz.
8. Waterford, Sheet f2.6, dated 1 1-13-92, Plan Level 90 -6" Gwathmey, Pratt,
Schultz.
9. Waterford, Sheet f2.7, dated 1 'l -13-92, Plan Level 1 01L0" Gwathmey, Pratt,
Schultz.
10. Waterford, Sheet #2.8, dated 11-13-92, Plan Level 1 1 1 -6" Gwathmey, Pratt,
Schultz.
1 1 . Waterford, Sheet #2.9, dated 1 1-1 3-92, Plan Level 1 22 -0" Gwathmey, Pratt,
Schultz.
12- Waterford, Sheet #2.10, dated 12-14-92, Roof Plan All Levels Gwathmey, Pratt,
Schultz.
13. Waterford, Sheet f3.1 , dated 1 1-1 3-92, Elevations Gwathmey, Pratt, Schultz.
14. Waterford, Sheet f3.2, dated 1 1-1 3-92, Elevations, Gwathmey, Pratt, Schultz.
15. Waterford, Sheet f4.1, dated 'l1-4-92, Sections Gwathmey, Pratt, Schultz.
16. Waterford, Sheet #4.2, dated 11-4-92, Sections, Gwathrney, Pratt, Schultz.
'17. Waterford, Sheet #4.3, dated 11-4-92, Sections, Gwathrney, Pratt, Schultz.
18. Waterford, Sheet #9.1, dated 10-20-92, Unit Plans Gwathmey, Pratt, Schultz.
19. Waterlord, Sheet #9.2, dated 10-20-92, Unit Plans, Gwathmey, Pran, Schultz.
20. waterford, sheet #9.3, dated 10-20-92, Unit Plans Gwathmey, Pratt, schultz.
21. Waterford, Sheet #9.4, dated 10-20-92, Unit Plans, Gwathmey, Pratt, Schultz.
22. Waterford, sheet #9.5, dated 10-20-92, Unit Plans Gwathmey, Pratt, Schultz.
23. Cornerstone, Sheet #L-1, dated 11-13-92, Landscape Plan Dennis Anderson.
24. Cornerstone, Sheet #1, dated 12-21-92, Cascade Village Master Plan Gwathmey,
Pratt, Schultz.
25. Cornerstone, Sheet #2, dated 12-29-92, Floor Plans Gwathmey, Pratt, Schultz.
11
26. Cornerstone, Sheet #3, dated 12-29-92, Floor Plans, Gwathmey, Pratt, SchulE.
Schultz.
27. Cornerstone, Sheet #4, dated 12-21-92, Elevations Gwathmey, Pratt, Schul?.
28. Cornerstone, Sheet#5, dated 11-13-92, Site Plan/Grading Plan, Gwathmey, Pratt,
Schultz.
29. Cascade Club Addition Site Plan, Roma, 10/10/88.
30. Cascade Club Floor Plan, Roma,10i10/88.
31. Millrace lll, Sheet f'|, dated 5/6/93, Site Plan, Steven James Riden.
32. Millrace lll, Sheet #2, dated 4113193, Floor Plans for Single Family Residence,
Steven James Riden.
33. Millrace lll, Sheet #3, dated 5/6/93, Elevations for Single Family Residence,
Steven James Riden.
34. Millrace lll, Sheets #4 and #5, dated 3120193, Floor Plans for Duplex Building,
Steven James Riden.
35. Millrace lll, Sheets #6 and #7, dated 5/6i93, Elevations lor Duplex Building,
Steven James Riden.
36. Millrace lll, Sheet L1, dated 5/6/93, Siteilandscape Plan, Steven James Riden.
37. Milhac€ lV, Scenario l, a/Ua Cosgriff Parcel, Site Plan, Arnold Gwathmey Pratt,
10t28t91.
38. Millrace lV, Scenario l, alVa Cosgriff Parcel, Elevations Arnold Gwathmey Pratt,
10t22t91.
39. Millrace lV, Scenario l, a/k/a Cosgrifi Parcel, Floor Plans Arnold Gwathmey Pratt,
't0123t91.
40. Millrace lV, Scenario l, a/k/a Cosgriff Parcel, Landscape Plan, Dennis Anderson
Associates.
41. Cosgritf Parcel, Survey, Alpine Engineering, Inc., 10/31/91 stampec.
42- Survey, a part of Cascade Village, Eagle Valley Engineering, Leland Lechner,
6t8t87.
43. Site Coverage Analysis, Eagle Valley Engineering, 10/10/88.
44. Cascade Village Special Development District Amendment and Environmental
lmpact Report: Peter Jamar Associates, Inc., revised 11122188.
45. The Ruins, site plan, Kathy Langenwalter, AlA, 1i16195.
46. The Ruins, basement and first floor plans, Kathy Langenwalter, AIA 1/16/95.
47. The Ruins, second and ftird floor plans, Kathy Langenwalter, AIA 1n6€5.
48. The Ruins, elevations and fourth floor plan, Kathy Langenwalter, AIA 1/16/95.
49. The Ruins, elevations, Kathy Langenwalter, AlA, 1/16/95.
50. The Ruins, Survey, Duane Feheinger,12/1194.
51. The Ruins, Landscape Plan, Land Designs by Ellison, 212195.
* A maximum of 1000 sq. ft. of common area, in addition to the approved plans, may be
added to the Waterford project to allow for compliance with the Uniform Building Code,
Unilorm Fire Code and American Disabilities Act. The statf shall review all such additions
to ensure that they are required by such codes.
Area D. Glen Lyon Commercial Site
1. Area D Master Site Plan, Geodesign by Sherry Donrard, 2/22190.
12
2. Landscape Plan for Area D, Geodesign by Sherry Dorward, A22190.
3. Area D elevations, Geodesign by Sherry Dorward, 219190.
4. VailMicro-brewery, Seracuse, Lawler, and Partners, Denver, CO., sheets A2.1,
42.2, A2.3, A3.1, A3.2, A4.1, A4.2, dated 1i8l90 and sheer A2.4 dated 12113189.
5. Vail Brewery Roof Study, Frank Freyer, 1i8l90.
6. Glen Lyon Parking Garage Floor Plans and Site Plan, Roma, 11128/88.
7 . Glen Lyon Parking Garage SectionsiElevations, Roma , 11128188.
8. Glen Lyon Condominium, Roma, 11128188.
9. Glen Lyon Condominium East Building, Roma, 11128188.
10. Deck Enclosure (Phase lA) to Glen Lyon Otfice Building, Pierce, Segerberg and
Spaeh, dated 9/20190.
11. Landscape Plan, Phase lA Deck Enclosure, Pierce, Segerberg and Spaeh, dated
8/19/91.
12. Office Addition to Glen Lyon Office Building, Buff Arnold/Ned Gwathmey
Architects August 25, 1989 Sheets A1 through A4.
13. Cascade Village Special Development District Amendment and Environmental
lmpact Report: Peter Jamar Associates, Inc., Revised 11122188. Letter from
Peter Jamar Associates, Inc., dated January 16, 1990.
14. Deceleration lane design for South Frontage Road, RBD, October 18, 1988 as
approved by Co. Div. of Hgwys.
15. A resubdivision of Lot 54 amended plat Glen Lyon Sub-division, Eagle Valley
Surveying Inc. as approved by T.O.V.
16. Vail Brewery Parking Analysis, TDA Colorado, Inc., August 10, 1988 and Vail
Brewery Parking Analysis Update, TDA Colorado, Inc., January 1 6, 1 990 pages 1-
8.
18.46.110 DevelopmentStandards
The development standards set out in Sections 1 8.46.1 20 through 1 8.46.1 80 are
approved by the Town Council. These standards shall be incorporated into the approved
development plan pertinent to each development area to protect the integrity of the development
ol SDD No. 4. They are minimum development standards and shall apply unless more restrictive
standards are incorporated in the approved development plan which is adopted by the Town
Council.
18.46.120 Setbacks
A. Area A. Cascade Village
Required sedcacks shall be as indicated in each development plan with a
minimum setback on the periphery of the property of not less than twenty feet, with the
exception that the setback requirement adjacent to the existing Gascade parking
structure/afiletic club buiHing shall be two feet as approved on February 8, 1982, by the
Planning and Environmental Commission. All buildings shall maintain a 50 foot stream
setback from Gore Greek. The Waterford building shall maintain a minimum 20 foot
setback from the north edge of the recreational path along Gore Creek.
B. Area B. Coldstream Condominiums
Required setbacks shall be as indicated on the development plan.
C. Area C. Glen Lyon Duplex Lots
13
Requhed setbacks shall be governed by Section 18.13.060 Setbacks of the
PrimaryiSecondary zone district of the Town of Vail Municipal Code.
D. Area D. Glen Lyon Commercial Site
Required setbacks shall be as indicated on the approved development plans.
18.46.140 Height
A. For the purposes of SDD No. 4 calculations of height, height shall mean the
distance measured vertically from the existing grade or finished grade (whichever is more
restrictive), at any given point to the top of a flat roof, or mansard roof, or to the highest
ridge line of a sloping root unless otheruise specified in approved development plan
drawings.
B. Area A. Cascade Village
1. The maximum height for the Westin Hotel, CMC Learning Center, Terrace
Wing, Plaza Gonference Building and Cascade Parking Structure/Athletic Club is
71 feet.
2. Cornerstone Building: Maximum height of 71 teel.
3. Waterford Building: Maximurn height of feet as measured from finished
grade to any portion of the roof along the north elevation shall be 55' (South
Frontage Road), 56'along the west elevation Westhaven Drive, and 65 feet along
the south and east elevation as measured from finished grade.
4. Westhaven Building: A maximum of 55 feet.
5. Millrace lll: A maximum of 36 feet.
6. Millrace lV: A maximum of 36 feet.
7. Cascade Club Addition: A maxirnum of 26 feet.
8. Cascade Entry Tower: A maximum of 36 feet.
9. The remainder of buildings in Area A shall have a maximum height of 48
feet.
C. Area B. Coldstream Condominiums
The maximum height shall be 48 feet.
D. Area C. Glen Lyon Duplex Lots
The ma*imum height shall be 33 feet for a sloping roof and 30 feet for a flat or
mansard roof.
E. Area D. Glen Lyon Gommercial Site
51 % of the roof shall have a height between 32 and 40 feet. 49h of the roof area
shall have a height under 32 feet. On the perimeter of the buildings for Area D, height is
measured from finished grade up to any point of the roof. On the interior area of any
building, height is measured from existing grade up to the highest point of the roof.
Development plan drawings shall constitute the height allowances for Area D.
18.46.160 SiteCoverage
ln Areas A and B, no more than 35% of the total site area shall be covered by buildings,
provided, if any portion of the area is developed as an institutional or educational center, 45o/" al
the area may be covered unless othenrvise indicated on the site specific development plans. In
Area C, no more lhan 25o/" of the total site area shall be covered by buildings, unless the more
restrictive standards of Chapter 18.69 of the Vail Municipal Code apply. In Area D, no more than
37"/" ol the total site area shall be covered by buildings and the parking structure.
14
18.46.170 Landscaping
At least the following percentiages of the total development area shall be landscaped as
provided in the development plan. This shall include retention of natural landscape, if
appropriate. Areas A and B, fifty percent, and in Areas C and D, sixty percent, of the area shall
be landscaped unless otherwise indicated on the site specilic development plans.
18.46.180 Parking and Loading
A, Area A. Cascade Village
1. Off-street parking shatt be provided in accordance with Chapter 18.52,
except thalTsa/o of the required parking in Area A shall be located within a parking
structure or buildings with the exception of Millrace lV, Scenario I, where 66.6% of
required parKng shall be enclosed in a building. lf the development table in
Section 18.46.103 is amended, the parking requirements shall be amended
accordingly.
2. There shall be a total of 421 spaces in the main Cascade Club parking
structure. A 17.5 percent mixed-use credit per the Town of Vail parking code,
Section 18.52.20 has been applied to the total number of required parking spaces
in the Cascade structure.
3. There shall be a total of 58 on-site parking spaces on the Waterford
building site with a minimum ot 75a/o of the required space located below grade.
No mixed use credit shall be applied to this site.
4. There shall be a minimum of 93 enclosed parking spaces located within
the Cornerstone building with 37 of the required spaces available to the public for
short-term parking. No mixed use credit has been applied to this lol.
5. The third floor of the Cascade parking structure shall not be used to meet
any parking requirernents for accommodation units, transient residential dwelling
units, employee dwelling units or dwelling units.
6. Phasing: All required parking for Cornerstone and Waterford shall be
located on their respective sites. All required parking for the Cascade Club
Wellness Center Addition Scenario 1 shall be provided in the Cascade parking
Structure.
7. Seventy-five percent of the required parking shall be located within the
main building or buildings and hidden from public view from adjoining properties
within a landscaped berm for Westhaven Condominiums, and Millrace lll.
8. All loading and delivery shatlbe located within buildings or as approved in
the development plan.
B. Area B. Coldstream Condominiums
Fitty percent of the required parking shall be located within the main building or
buildings and hidden from public view from adjoining properties within a
landscaped berm.
C. Area C. Glen Lyon Duolex Lots
Off-street parking shall be provided in accordance with Chapter 18.52.
D, Area D. Glen Lyon Commercial Site
1. Phase l, lA and ll shall include 80 surface parking spaces plus 6 valet
parking spaces on the east end of the surface parking lot. Phase lA shall include
15
2 additional required parking spaces for a total of 43 required pafting spaces.
2. Phase lll shall include a minimum of '108 parking spaces. A minimum of
100 spaces shall be located in the parking structure. All required parking for the
east building shall be provided on-site per Town of Vail parking requirements per
Section 18.52.100 for residential and office use. A minimum of eleven spaces
shall be located in the garage of the east buiEing and a maximum of 5 surface
spaces shall be located adjacent to the east building.
3. Area D development shall meet the operational requirements outlined in
the TDA Colorado Inc. Report, Section Parking Analysis Considerations, January
16, 1990. Parking Analysis Considerations pages 1-8.
4. Valet parking shall be prohibited on the west end of the surface parking
lot. 5. The Brew Pub shall not be open to the public until after 4:30 p.m. for
Phase I and ll Monday through Friday. When Phase lll development occurs
including the parking structure, the brew pub may operate during the weekdays
once the parking structure is available for public use.
6. The Beer Hall shall not operate or be used by the public before 4:30 p.m.
on weekdays, Monday through Friday at anylime.
7. Once the paking structure is constructed, the parking and access to Area
D shall be managed per the TDA Parking Report, Parking Management Section,
pages 6 and 7, August'10, 1988, and TDA Report, VailBrewery Parking Analysis
Update, dated January 16, 1990, both written by Mr. David Leahy.
8. No loading or delivery of goods shall be allowed on the public right-of-way
along the South Frontage Road adjacent to the Area D development.
9. The owner of the property and brewery management shall prohibit
semi-truck and trailer truck traffic to the Glen Lyon Commercial site. The only
truck loading that shall be allowed to the site shall be vans having a maximum
length of 22teet.
18.46.190 Recreation Amenities Tax Assessed
The recreational amenities tax due for the development within SDD No. 4 under Chapter
3.20 shall be assessed at a rate not to exceed twenty-five cents per square foot of the floor area
in Development Area A; and at a rate not to exceed fifty cents per square foot of GRFA in
Development Area B; and at a rate not to exceed fifteen cents per square foot ol GRFA in
Development Area C; and at a rate not to exceed seventy-five cents per square foot of floor area
in Development Area D; and shall be paid in conjunction with each construction phase prior to
the issuance of building permits.
18.46.200 ConservationandPollutionControls
A. The developer's drainage plan shall include a provision for prevention of pollution
from surface runotf.
B. The developer shall include in the building construction, energy and water
conservation controls as general technology exists at the time of construction.
C. The number of fireplaces permitted shall be as set forth in Section 8.28 0f the
Town of Vail Municipal as amended.
D. lf fireplaces are provided within the development, they rnust be heat etficient
through the use of glass enclosures and heat circulating devices as technology exists at
16
the time of development.
E. All water features within Development Area A shall have overflow storm drains per
the recommendation of the Environmental lmpact Report by Jamar Associates on Page
34.
F. All parking structures shall have pollution control devices to prevent oil and dirt
from draining into Gore Creek.
G. In Area D, a manhole on the brewery service line shall be provided so that the
Upper Eagle Valley Consolidated Sanitation District may monitor BOD strength.
H. In Area D, the brewery management shall not operate the brewery process during
temperature inversions. lt shall be the brewery owner's responsibility to monitor
inversions.
l. All trash compactors and trash storage areas shall be completely enclosed within
Special Development District 4.
J. Protective measures shall be used during construction to prevent soil erosion into
Gore Creek, particularly when construction occurs in Areas A and D.
K. The two employee dwelling units in Area D shall only be allowed to have gas
fireplaces that meet the Town of Vail ordinances governing fireplaces.
18.46.210 Additional Amenities and Approval Agreements for Special Development
District No. 4.
A. The developer shall provide or work with the Town to provide adequate private
transportation services to the owners and guests so as to transport them from the
development to the Village Core area and Lionshead area as outlined in the approved
development plan.
B. Developer shall provide in its approved development plan a bus shelter of a
design and location mutually agreeable to developer and Town Council. Said shelter to
serve the area generally.
C. Area A, Cascade Village
'1 . The developer shall be responsible for providing a break-away bollard for
the emergency access road between Eagle Pointe/Park Meadows, 1472
Matterhorn Circle, and Westhaven Drive. The design of the bollard shall he
mutually acceptable to the developer and Town of Vail. This improvement shall
be consfucted when a building permit is requested for the Cornerstone, Millrace
lll, Millrace lV, Westhaven Condominiums, Waterford buildings, or Cascade Club
addition. The bollard shall be included in the permit plans. The bollard shall be
constructed subsequent to the issuance of a buiHing permit and prior to the
issuance of a temporary certificate of occupancy for the Cornerstone, Millrace lll,
Millrace lV, Westhaven Condominiums, Waterford buildings, or Cascade Club
addition.
2. The developer shall consfruct a sidewalk that begins at the entrance to the
Cascade Club along Westhaven Drive and extends to the west in front of the
Westhaven building to connect with the recreational path to Donovan Park. The
walk shall be constructed when a building permit is requested for Westhaven
Condominiums. The sidewalk shall be part ol the building permit plans. The
sidewalk shall be constructed subsequent to the issuance of a building permit and
17
prior to the issuance ot a temporary certificate of occupancy for Westhaven
Condominiums.
3. The developer shall provide 1O0-year floodplain information for the area
adjacent to the Waterford and Cornerstone buildings to the Town of Vail
Community Development Department before building permits are released for
either project.
4. The conditions for Area A in Sections 18.46.020 B, 18.46.180 A. 1-7,
18.46.200 A - F, I, J, 18.46.210 C, 1-3, and 18.46.220 shallbe setforth in
restrictive covenants subject to the approval of the Town Attorney and once so
approved shall be recorded on the land records of Eagle County. The developer
shall be responsible for submitting the written conditions to the Town Attorney for
approval before a building perrnil is requested for the Cornerstone, or Millrace lll,
or Millrace lV, Westhaven Condominiums, or Waterford buildings, or Cascade
Club Addition.
5. Westhaven Drive
The Town acknowledges that it has been paid the sum of $97,500.00 from
other sources to be used by the Town for the repair and reconstruction of
Westhaven Drive. The Town further acknowledges that the title of Westhaven
Drive has been translerred to the Town. The date for the commencement of the
repair and reconstruction of the right-of-way improvements shall be entirely at the
discretion of the Town. Should the Town not require the entire amount of the
$97,500.00 for the repair and the reconstruction of Westhaven Drive, the Town
will forward any amount remaining after all construction related costs have been
paid in full to the parties originally contributing the $97,500.00 who shall refund
such amount pro-rata to the parties originally contributing the $97,500.00.
6. Millrace lV, Scenario l.
a. The developer shall obtain an easement from the owners of the property
adjacent to the eastern boundary of the property commonly called the Cosgritf
Parcel, which is more specifically defined in Exhibit A, attached to this ordinance
and incorporated herein by reference. The easements shall be sufficient to permit
the construction, maintenance and replacement of retaining walls for the purposes
ol grading and boulder relention all along the western property line of said
adjacent property. The easement shall be in a form acceptable to the Town
Attorney, shall run with the land, and shall be recorded on the land records of
Eagle County prior to Design Review Board review.
b. The developer shall provide the Community Development Department of
the Town with written consent from the Upper Eagle Valley Water and Sanitation
District permitting the encroachment of certiain decks specified in the development
plan for the Millrace lV condominiums, as set forh in Section 18.46.140(1 8) of this
ordinance into their sewer easement recorded in Book 217,Page 428 of the land
records of Eagle County. This consent shall be submitted prior to Design Review
Board review.
c. The developer shall receive final approval of the site grading plan for the
construction of Milhace lV, Scenario l, from the Town Engineer prior to Design
18
7.
Review Board review.
d. The Millrace Condominium Map, recorded at Book 326, page 257, ol the
land records of Eagle County shall be amended so that the access easement
shown thereon shall align with the present location of the roadway on the western
property line of the Cosgriff Parcel, and the amendment shall be recorded on the
land records of Eagle County.
e, The developer shall install 15 (6'-10) evergreens south of the South
Frontage Road adjacent to the Cascade Club building, and 5 (6 -10') evergreens
to the south of the Westhaven Apartment foundations and north of Westhaven
Drive. The developer shall obtain the written approval of the Colorado
Department of Highways (cDoH) permitting the installation of these trees along
the South Frontage Road prior to said installation. lf CDOH approval cannot be
obtained, then a rninimum of 10 (6'-10') evergreens shall be insalled adiacent to
the Westhaven Apartments.
f. The developer shall apply for and complete the minor subdivision process
for the Gosgritf Parcel and a subdivision plat signed by the Town of Vail shall be
recorded on the land records ol Eagle County prior to the release of any building
permits for the construction of any structure on the Cosgriff Parcel.
S. Landscaping along the south and west property lines of the Cosgriff Parcel
shall be reviewed by the Design Review Board to insure a suitable buffer area
between it and the other properties along said property lines.
h. The Design Review Board shall review the architecture and landscape
plan further for compatibility with the surrounding area.
i. The developer and the adjacent property owners shall submit a landscape
plan for the area north of the Cosgriff property to the Design Review Board for
review.
j. For purposes of calculating Gross Residential Floor Area permitted on the
Cosgrift Parcel, no credits of any kind (overlapping stairs, mechanical, etc.),
except for 300 sq. ft. to be allowed for each enclosed parking space, shall be
given.
Cornerstone
a. Before the building permit is released for the project, the developer shall
permanently restrict three employee housing units in accordance with Section
18.46.220 ot this ordinance.
b. The landscape plan set forth in the development plan for Cornerstone between
the Terrace Wing and Cornerstone building shall be revised prior to the review of
the project by the DRB in the following ways:
1. For emergency services, an access lane shall be provided from the
western courtyard to the ski lift.
2. lf deemed necessary by the developer and the Community
Development Department staff, the water feature on the landscape plan may be
removed or revised. The landscaping in this area shall be part of the Cornerstone
development, and, therefore, it is the Cornerstone developer's responsibility to
complete this portion of the project prior to the release of a final Certificate of
19
9.
Occupancy for the project. These plans shall be included in the building permit for
the Cornerstone development.
c. After the Town of Vail has title to Westhaven Drive, it shall convey title to the
developer for the area of Westhaven Drive under which parking is located for the
Cornerstone project. The amended minor subdivision plat shallbe submitted by
the developer before a buibing permit is released for the Gornerstone site. The
developer shall dedicate an access easement to the Town over this portion of
Westhaven Drive.
d. All fireplaces shall be gas appliances pursuant to Section 8.28 of the Vail
MunicipalCode.
e. Those spaces allocated to commercial areas as short term public parking shall
be permanently restricted for the use of the Cornerstone project. All required
parking associated with the uses shall not be conveyed, used or leased
separately from the uses. Public parking on the Westhaven Drive level ot the
Cornerstone project shall be made available to the public for short term parking.
8. Waterford
a. The developer shall permanently restrict the tow employee housing units
provided in the Waterford Development Plan in accordance with Section
18.46.220 of this ordinance.
b. A minor subdivision plat shall be completed and recorded prior to the
release of any building permits lor either the Cornerstone or Waterford
developments,
c. The recreation path shall be relocated as set forth on the development
plan and shall be amended on the minor subdivision plat for the Waterford and
Gornerstone lots to correspond to the new location.
d. The DRB will review the landscaping in the areas of the retaining walls on
the west and east ends of the site. The DRB will review the north elevations
architectural details. The applicant shall review the possibility of eliminating the
skier access on the east end of the project. However, if the applicant can
significantly decrease the retaining walls necessary to build the access. the skier
access mav remain.
e. All fireplaces shall be gas logs permitted pursuant to Section 8.28 of the
Vail Municipal Code.
The Ruins / Westhaven Condominiums
a. All construction shall conform to the development presented to the Planning and
Environmenlal Cornmission on February 27 , 1995, and to the drawings identified
in Section 18.46.140 (development plans) numbered 45-51.
b. Prior to the issuance of a building permit, the applicant shall sign Type lll EHU
Deed restrictions for the i:7 employee housing units. The deed restrictions shall
be modified to allow floor area requirements to be less than 450 sq. ft. tlt;i{ffi$idr
ffi ituigt$.ffi ffiFfrl t'ffitffipp,76.gpcitaffiiit6'.xaaffirrffiffiU
r*rn#rff #iinail*ffi iffi dffi i:ffi i:iffiilimif #*licittuiwae:F#fssni::#diB jiifi :ir
20
c.
ffisfi;if#eri,Hiatiru, iffeeriffiAf8eiir*nlt6irriCnilrr#riirilir6rn*tlrsji fiim;f#mi$
Hlt ffiNlf.E#ititttttiilti
ime_
Prior to issuance of the building permit, civil engineering plans for road
improvements must be reviewed and approved by the Town of Vail Engineer.
Road improvements shall include curb and gufter from the eastern edge of the
bike path to the western edge of the curb cut servicing this property.
Prior to the issuance of a building permit, the applicant shall dedicate an
easement for the bike path that crosses this property.
Prior to an issuance of a ternporary certificate of occupancy (TCO) the applicant
shall regrade and revegetate the berm adjacent to this site, in the Colorado
Department of Transportation (CDOT) right-oi-way, so that its northern slope does
not exceed 2:1 . Prior to the issuance of a TCO, the applicant shall remove the
two utility poles in the CDOT right-ot-way and shall bury the utility line to the third
utility pole west of this property.
.F..fiiiirifdi;:ttis:ritffiEe:i+It*:,fi,ifiifr1i#lr#iilffiffii$#iillriffirrffirlstii€?gp:'ltiritffirci:*t
iH*i'ffi .:itt..mH1, *Hii$IsH i$i:itaf, i!.:iHffi#,iffii6..,lt to.ffir.rcsl
.i*tj#ffiniff::##irrffiffiffir:8:Ellldinsffiiisdtffcdt,i,ffiliff#l,ti,jer$ffielfs ffi.W
:Hati:$,# i
The entire building, including the garage, must be sprinkted.
Area D, Glen Lyon CommercialSite.
1. The developer shall agree to construct a bus lane per Town of Vail
standards in the area of the porte-cochere of the Micro-brewery in Area D. The
specific location for the bus lane shall be mutually agreed to by the Area D owner
and/or developer, Colorado Division of Highways, and Town of Vail. The bus lane
shall be constructed subsequent to the issuance of a building permit and prior to
the issuance of a temporary certificate of occupancy for either the brewery
addition, office expansion excluding Phase lA, east office building, or paking
structure. The developet and/or owners of area D shall be responsible for
maintaining the new bus lane, including snow removal. lf the lane is not
maintained properly or snow removal is not adequate, the Town will not provide
bus service to the site.
2. The developer shall relocate the existing bike path on Area D and provide
a new bike path easement across the Glen Lyon property and CDOH property per
the development plan for Area D. The bike path shall be constructed per Town of
Vail standards. The bike path shall be constructed subsequent to the issuance of
d.
e.
s.
D.
21
a building permit and prior to the issuance of a temporary certificate of occupancy
for either the brewery addition, office expansion excluding Phase lA, east office
building, or parking structure. Such temporary certificate of occupancies shall be
conditional upon conslruction of the bike path provided lor herein. The bike path
easement shall be replatted and approval obtained from the Town Council prior to
the issuance of a temporary certificate of occupancy for either the Brewery
addition, office expansion excluding Phase lA, east office buibing or parking
structure.
3. The developer shall underground the electrical utilities along the north side
of the Glen Lyon property from the northwest corner of the property to the
northeast corner of the property. This utility work shall be constructed subsequent
to the issuance of a building permit and prior to the issuance of a temporary
certificate of occupancy lor either the Brewery addition, olfice expansion,
excluding Phase lA east office building or parking structure.
4. The developer shall be responsible for relocating the 20 foot utility
easement on the western portion of Development Area D as well as obtaining
approval from the Town of Vail for the relocated utility easement before a building
permit is released for the micro-brewery addition.
5. The developer of the Glen Lyon Office property shall not file any
remonstrance or protest against the formation of a local improvement district of
other financing mechanism approved by the Vail Town Council which may be
established for the purpose of building road improvements for the South Frontage
Road.
6. The developer shall provide a fire hydrant per Town of Vail Fire
Department requirements on the northwest portion of the property. The specific
location for the fire hydrant shall be approved by the Vail Fire Department. The
fire hydrant shall be provided subsequent to the issuance of a building permit and
prior to the issuance of a temporary certificate of occupancy for the brewery
addition, office expansion excluding Phase lA, east office building, or parking
structure.
7. The Developer shall construct a deceleration lane along South Frontage
Road per the CDOH access permit. The developer shall submit plans for the
South Frontage Road improvements to the Town of Vail Engineer for review and
approval before a building permit is released for either Phase I excluding Phase
lA, ll, or lll construction.
8. The conditions for Area D in Sections 18.46.180 D, 18.46.200 A, B, F - K,
1 8.46.210 D, 1-7, and 18.46.220 shall be set forth in restrictive covenants subject
to the approval of the Town Attorney and once so approved shall be recorded on
the land records of Eagle County. The developer shall be responsible for
submitting the written conditions to the Town Attorney for approval before a
building permit shall be issued for the Micro-brewery, office expansion excluding
Phase lA, east otfice building, or parking structure.
9. The minor subdivision for Area D shall be developed per the following
conditions:
22
a. The development of parcels A, B, C, and D, shall be limited to the
SDD No. 4 development plan and governed by the SDD No. 4 ordinance
as approved by the Town ol Vail and on file with the Department of
Community Development or as amended and approved by the Community
Development Department, Planning and Environmental Commission,
and/or the Vail Town Council.
b. The minor subdivision plat shall include a statement that
development of the four parcels shall be governed by the approved SDD 4
development plan for area D and governing ordinances.
c. The Community Development Department and Town of Vail
Attorney shall have the right to review and require changes in any
"Agreements of Tenants in Common", "Conveyance of Easement and
Party wall AgreemenF", and any other easement or ownership
agreements related to the development of parcels A, B, C, and D to
ensure that the four parcels are developed per the approved development
plan in SDD No.4 Ordinance.
d. The developer shall be responsible for replatting the 20 foot utility
easement on the western portion of development Area D as well as
obtaining approval from the Town of Vail for the new utility easement
before the minor subdivision plat is recorded. Any modifications or
amendments to the minor subdivision conditions of approval agreement
shall be reviewed as a major amendment under the procedures outlined in
Section 18.40 of the Town of Vail Zoning Code.
e. The conditions for the minor subdivision in Section 18.46.210 (Dg)
A, B, C, and E, shall be set forth in restrictive covenants subject to the
approval of the Town Attorney and once so approved shall be recorded on
the land records of Eagle County. The developer shall be responsible for
submitting the written conditions to the Town Attorney before the minor
subdivision is recorded on the land records of Eagle County.
10. The entire Glen Lyon Office Building and Brewery Building shall be
sprinklered and have a fire alarm detection system. Town of Vail Fire Department
approval of the sprinkler and fire alarm systems shall be required before a building
permit is released for Phase I excluding Phase lA or ll.
'l 1. The developer shall submit a set of amended plans to the Colorado
Division of Highways for review and approval. The improvements on CDOH
property proposed by the developer must receive CDOH approval before Phase I,
excluding lA, ll, and lll are presented to the Town of Vail Design Review Board for
finalapproval.
12. The east building including the two employee dwelling units shall be
constructed when the parking structure is built to ensure that the employee
units are built.
18.46.220 Employee Housing
The development of SDD No. 4 will have impacts on available employee housing within
the Upper Eagle Valley area. In order to help meet this additional employee housing need, the
develope(s) of Areas A and D shall provide employee housing on site. The developer(s) of Area
A shall build a minimum of 17 employee dwelling units within Area A Westhaven Condominium
building, 3 within the Cornerstone Building and 2 within the Waterford Building. Each employee
dwelling unit in the Westhaven Condominium Building shall be deed restricted as a Type lll EHU.
Each employee unit in the Cornerstone Building shall have a minimum square footage ol 600
square feet. There shall be a total of 2 employee dwelling units in the Waterford Building. One
shall be a minimum of 300 square feet and the other a minimum of 800 square feet. The
developer of Area D shall build 2 employee dwelling units in the Area D east building per the
approved plan for the East Building. In Area D one employee dwelling unit shall have a minimum
GRFA of 795 square feet and the second employee dwelling unit shall have a minimum GRFA of
900 square feet. The GRFA and number of employee units shall not be counted toward
allowable density or GRFA for SDD No. 4. All Employee Housing Units shall be deed restricted
per Section 18.57, as amended, of the Vail Municipal Code prior to issuance of building permits
for the respective project.
18.46.230 TimeRequirements
SDD No. 4 shall be governed by the procedures outlined in Section 18.40.120 of the
Town of Vail Municipal Code.
Section 4.
lf any part, section, subsection, sentence, clause or phrase of this ordinance is for any
reason held to be invalid, such decision shall not affect the validity of the remaining portions of
this ordinance; and the Town Council hereby declares it would have passed this ordinance, and
each part, section, subsection, sentence, clause or phrase thereof, regardless ofthe fact that
any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid.
Section 5.
The repeal or the repeal and re-enactment of any provisions of the Vail Municipal Code
as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any
violation fiat occurred prior to the effective date hereof, any prosecution commenced, nor any
other action or proceeding as commenced under or by virtue of the provision repealed or
repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any
ordinance previously repealed or superseded unless expressly stated herein.
Section 6.
All bylaws, orders, resolutions and ordinances, or parts thereof,
inconsistent herewith are hereby repealed to the extent only of such inconsistency, The repealer
shall not be construed to revise any bylaw, order, resolution or ordinance, or pan thereof,
heretofore repealed.
24
INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON
FIRST READING this 4th day of April, 1995, and a public hearing shall be held on this Ordinance
on the 18th day ot April, 1995, at 7:30 P.M. in the Council Chambers ol the Vail Municipal
Building, Vail, Colorado.
Margaret A. Osterfoss, Mayor
ATTEST:
Holly L. McOutcheon, Town Clerk
READ AND APPROVED ON SECOND READING this
-
day of
-,
1995.
Margaret A. Osterfoss, Mayor
ATTEST:
Holly L. Mccutcheon, Town Clerk
f :\ev€ryonebrdb rd8. 95
25
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34
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35
fJ t't ,.-i I L,\
PROVIDE CHANGES TO AREA A REOUIREMENTS FOR SDD NO. 4
THAT CONCERN THE DEVELOPMENT PLANS TOH::tr.E*H HI+ffiEfIIiiIffiIflI TS.dS
ffl'tEriHfl sx DEVELoPMENT strE;
AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, #ffi16lit:'Wffittffiii has requested an amendment to the existing Special
Development District No. 4, Area A; and
WHEREAS, the Planning and Environmental Commission has recommended that certain
changes be made to Special Development District No. 4; and /1rt r1-3 h-)
7 ,t''\ h..i.
WHEREAS, the Town Council considers that it is reasonable, appropriate, andbeneficial$
the Town and its citizens, inhabitants, and visitors to repeal and reenact Otilin ,.Ho;fr;i$Et.ffi$iilf
7
,i\ /; I
II..,t
^Urta\.
,l) i
,rlisgfl to provide for such changes in Special Development Disrrict No. 4, Cascade Village. Vtf-l-
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
COLORADO. THAT:
OF VAIL,
Ordinance No. 1, Series ol 1993, is hereby repealed and reenacted, as
Section 1. Amendment Procedures Fulfilled. Planning Commission Report.
The approval procedures described in Chapter 18.40 of the Vail Municipal Code have been
fulfilled, and the Town Council has received the recommendations of the Planning and Environmental
Gommission for an amendment to the development plan for Special Development District No. 4.
Section 2. Special Development District No. 4
Special Development District No. 4 and the development plans theretore, are hereby
approved for the development of Special Development District No. 4 within the Town of Vail.
Section 3 Chapter 18.46 Special Development District No. 4, Cascade Village, is hereby
repealed and re-enacted with amendments to read as follows:
18.46.010 Purpose
Special Development District No. 4 is established to ensure comprehensive development and
use of an area in a manner that will be harmonious with the general character of the Town, provide
adequate open space and recreational arnenities, and promote the objectives of the Town of Vail
Comprehensive Plan. Special Development District No. 4 is created to ensure that the development
density will be relatively low and suitable for the area and the vicinity in which it is situated, the
development is regarded as complementary to the Town by the Town Council and the Planning
Commission, and because there are significant aspects of the Special Development District which
cannot be satisfied through the imposition of standard zoning districts on the area.
i .-t/), )lz-
18.46.020 Definitions
For the purposes of this chapter, the tollowing detinitions shall apply:
A. "Special attraction" shall be defined as a museum, seminar or research center or
performing arts theater or cultural center.
B. "Transient residential dwelling unit or restricted dwelling unit" shall be defined as a
dwelling unit located in a multi-family dwelling that is managed as a short term rental in which
all such units are operated under a single management providing the occupants thereof
customary hotel services and faciliiles. A short term rental shatl be deemed to be a rental
for a period of time not to exceed 31 days. Each unit shall not exceed 645 square feet of
GRFA wtrich shall include a kitchen having a maximum of 35 square leet. The kitchen shall
be designed so that it may be locked and separated from the rest of the unit in a closet. A
transient dwelling unit shall be accessible from common corridors, walks, or balconies
without passing through another accommodation unit, dwelling unit, or a transient residential
dwelling unit. Should such units be developed as condominiums, they shall be restricted as
set forth in Chapter 17.26 Condominiums and Condominium Conversions. The unit shall not
be used as a permanent residence. Fractional fee ownership shall not be allowed to be
applied to transient dwelling units. For the purposes of determining allowable density per
acre, transient residential dwelling units shall be counted as one half of a dwelling unit. The
transient residential dwelling unit parking requirement shall be 0.4 space per unit plus 0.1
space per each 100 square feet of GRFA with a maximum of 1 .0 space per unit.
18.46.030 Established
A. Special Development District No, 4 is established for the development on a parcel of
land comprising 97.955 acres as more particularly described in the attached Exhibit A.
Special Development District No. 4 and the 97.955 acres may be referred to as "SDD No.
4.
B. The district shall consist of four separate development areas, as identified in this
ordinance consisting of the following approximate sizes:
Area Known As Development Area Acreage
Cascade Vil lage
Coldstream Condomi-niums
GLen Lyon Duplex Lots
Glen Lyon Commercial SiteDedicated Open Space
Roads
A 17 .955
c 29.100D 1,800
4.000
40.400
4.7 00
97 .955TOTAL
18.46.040 DevelopmentPlan--Required-ApprovalProcedure
A. Each development area with the exception of Development Areas A and D shall be
subject to a single development plan. Development Area A shall be allowed to have two
development plans for the Cascade Club site as approved by the To\,vn Council. The
Waterford and Cornerstone sites shall be allowed one development plan each. Developrnent
Area D shall be allowed to develop per the approved phasing plans as approved by the Town
Council. The developer shall have the right to proceed with the development plans or
scenarios as defined in Section 18.46.103. 1-4.
B. Amendments to SDD No. 4 shall comply with the procedures outlined in Section
18.40.
C. Each phase of development shall require, prior to issuance ol building permits,
approval of the Design Review Board in accordance with applicable provisions of Chapter
18.52.
18.46.050 PermittedUses
A. Area A. Cascade Village
1 . First floor commercial uses shall be limited to uses listed in 18.24.030 A-C.
The 'Iirst floo/'or "street level" shall be defined as that floor of the building that is located at
grade or street level;
2. All other floor levels besides first floor street level may include retail, theater,
restaurant, and office except that no professional or business office shall be located on street
level or first floor (as defined in Section 18.24.030 A of the Town of Vail zoning code in Area
A) unless it is clearly accessory to a lodge or educational institution except for an office
space having a maximum square footage of 925 square feet located on the first floor on the
northwest corner of the Plaza Conference Center building;
3. Lodge;
4. Multi{amily dwelling;
5. Single Family dwelling;
6. Two-Family dwelling;
7. Transient residential dwelling unit;
8. Employee dwelling as defined in Section 18.46.220;
9. Cascade Club addition of a lap pool or gymnasium.
B. Area B. Coldstream Condominiums
1. Two{amily dwelling;
2. Multi-family dwelling.
C. Area C. Glen Lyon Duolex Lots
1. Single family dwelling;
2. Two-family dwelling.
D. Area D. Glen Lyon Commercial Site
1. Retail;
2. Restaurant and bar;
3. Business and prolessional offices;
4. Multi-family dwelling;
5. Employee dwelling as defined in Section 18.46.220.
18.46.060 ConditionalUses
Conditional uses shall be reviewed per the procedures as outlined in Chapter 18.60 of the
Town of Vail zoning code.
A. Area A. Cascade Village
1 . Cascade Club addition of a r,rrellness center not to exceed 4,500 square feet.
2. Fractional fee ownership as defined in the Town of Vail Municipal Gode,
Section 18.04.135 shall be a conditional use for dwelling units in the Westhaven
multi{ami|y dwellings. Fractional fee ownership shall not be applied to restricted
employee dwelling units or transient residential dwelling units. Ownership intervals
shall not be less than five weeks.
3. Special attraction;
4. Skilifts:
5. Public park and recreational lacilities;
6. Major arcades with no frontage on any public way, street, walkway or mall
area.
B. Area B. Coldstream Condominiums
1. Public park and recreational facilities;
2. Skilifts.
C. Area C. Glen Lyon Duplex Lots
1. Public park and recreational facilities;
2. Skilifts.
D. Area D. Glen Lyon Commercial Site
'l . Micro-brewery as defined in Town of Vail Municipal code, Section 18.04.253.
18.46.070 AccessorvUses
A. Area A. Cascade Village
1. Minor arcade.
2. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Seclions 1 8.58.1 30 through 1 8.58.1 90.
3. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
4. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary for the operation thereof.
5. Swimming pools, tennis courts, patios or other recreational facilities
customarily incidental to permitted or conditional uses, and necessary to the
operation thereof,
B. Area B. Coldstream Condominiums
1. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 18.58.130 through 18.58.190.
2. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
3. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary for the operation thereof.
4. Swimming pools, tennis courts, patios or other recreational lacilities
customarily incidental to permitted or. conditional uses, and necessary to the
operation thereof.
C. Area C. Glen Lyon Duplex Lots
1. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 18.58.130 through 18.58.190.
2. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
3. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary for the operation thereof.
D. Area D. Glen Lyon CommercialSite
1. Home occupations, subject to issuance of a home occupation permit in
accordance with the provisions of Sections 18.58.130 through 18.58.190.
2. Attached garages or carports, private greenhouses, swimming pools, tennis
courts, patios, or other recreational facilities customarily incidental to permitted
residential uses.
3. Other uses customarily incidental and accessory to permitted or conditional
uses, and necessary for the operation thereof.
4. Minor arcade.
18.46.080 Location of Business Activity
A. All offices, businesses, and services permitted by Sections 18.46.050 through
18.46.070 shall be operated and conducted entirely within a building, except for permittecl
unenclosed parking or loading areas, and the outdoor display of goods.
B. The area to be used for outdoor display must be located directly in front of the
establishment disptaying the goods and entirely upon the establishments own property.
Sidewalks, building entrances and exits, driveways and streets shall not be obstructed by
outdoor display.
18,46.090 Density--DwellingUnits
The number of dwelling units shall not exceed the following:
A. Area A. Cascade Village
In Area A, a minimum of three hundred fifty-two (352) accommodation or transient
dwelling units and a maximum of ninety-four dwelling units as defined by the tables in
Section 18.46.103 for a total density of two hundred seventy (270) dwelling units.
B. Area B. Coldstream Condominiums
Sixty-five (65) dwelling units
C. Area C. Glen Lyon Duolex Lots
One-hundred four (104) dwelling units.
D. Area D. Glen Lyon Commercial Site
4. Three dwelling units, two of which shall be employee dwelling units as defined by the
table in section 18.46.103F.
18.46.100 Density--FloorArea
A. Area A. Cascade Village
The gross residential floor area (GRFA) for all buiHings shall not exceed 289,145
square feet.
B. Area B. Coldstream Condominiums
Sixty-five thousand square feet (65,000 s.f.) GRFA.
C, Area C. Glen Lyon Duolex Lots
GRFA shall be calculated for each lot per Section 18.13.080 density control A and
B for the Primary/Secondary district of the Town of Vail municipal code.
D. Area D. Glen Lyon Commercial Site
The gross residential floor area for the two employee dwelling units shall be 795
square feet and 900 square feet respectively. The gross residential floor area for the free
market dwelling unit shall be 1,630 square feet.
18.46.102 CommercialSquareFootage
A. Area A. Cascade Village
Area A shall not exceed 35,698 square feet of commercial area. Gommercial uses
include retail, office, theater, restaurant, uses listed in Section 18.46.050 A-1, and the special
attraction use.
B. Area D. Glen Lyon Commercial Site
Area D shall not exceed 16,730 square feet of office for Phase l. lA & ll or 15,584
square feet of office for Phase lll per the approved development plans. The micro-brewery
and associated uses shall be constructed per the approved development plan.
18.46.103 Development Statistics for Area A. Cascade Village. and Area D. Glen Lyon
Commercial Site
a
CHART 1: Area A Completed Projects
"'For the purposes of calculaing GRFA for lhe Cosgriff parcel (Milhace lV), no credils shall bE given exc€pl lor 300 8.f. lo bE allowed
for each enclooed padting space, per Seclion 13.46.210(cX5)(j)
AUg DUs GRFA
RelaiU
Comm€rciEl
Square
Fool
On-Site
Parking
Cascade SlrucNure
Patking
MILLRACE I 16 20,000 20 0.00
MILLRACE II 14 l7,5U z5 0.00
MILLRACE IV
6 't0,450 t9 0.00
WESTIN 148 55457 0.00 I t5
Alfr€do's I @ seals
Caf€74 S€als
Linle shop 1 ,250
Pepi Sporls 2,491
W&HSmirh.Vaumot 900
CMC BUILDING
Cascade Wng I 15,870 0.00 16
Clancy's 1 ,600 0.00
Theater 4,220 2S
Coll€oe Classrooms 0.00 40
College Ofiics 0.00 4
Theaterru€sting Room ZJ |,387 0.00 1 1.5
TERRACE WING
Roomg 120 58,069 0.00 105
Relail 5,856 0.00 20
PLAZA 1
Rooms 20 7,205 0.00 't6
Retail 1,099 0.00 4
PLAZA II
Confgr€nca 0.oo 35
Relail g2s 0.00
CASCADE CLUB
Rerail 300 0.00 '|
Bar & Resleuran 2 0.00
Offca in CMC 828 0.00
Wellness C€nter 1,386 0.00
Office in Club 420 0.00 1.4
TOTALS 288 AU ,,14 DU 164,585 19,173 4261
PROPOSED PROJECTS
'Employee Unils shall not coum lo,t ard densily or GRFA lor the purpose oflhis SDD
*Plaza space has already bosn count€d for a rstail parking roquirement. Ths ngl , palking r€quirsmem is bas€d on lh6 differanca batwoon fia roleil
and office perking r€quir€ments.
'*Total figuros rspres€nt highest dEnsity End commercial tpacs scenarios.
9
1. CORNENSTONE AU or TR DU GRFA Commarclal
Sqlrll
Fset
On€lls
P tlng
Csscsds
Stucturcd
Plrklng
Unils 64 TR 28,110
Employ€s Unit3.3 1,800 | 1,t00 3
Relail 1l,100 x7
TOTAI]S 54 TR 28,1t0 11, t(x,93
2. WATERFORD
Units 5|'
Employ€e Unils 't,100 2
TOTAIS 27 47,50O 58
3. WESTHAVEN
@NmrrNtu s
Units 20 22,500 40
Employeo Units (Max t)10 6,400 20
TOTALS 20 22,5m 50
4. illllrrce lll
Units 6,450 7
TOTALS 3 6,450 7
5. C.scade Club Addltlon
Sc€nario | (W€lln€ss Center)
or
Scenario 2 (Gymnasium)
4,500
4,500
2,5
0
TOTALS
Scemrlo 1
Sccnrrlo 2
4,500
4,50O zt5
6. Plaz. Otfco-925 .7*
TOTAL itAXt UUS.*64 TR flt 104,560 16,525 4,5qt 214 25.2
!,!, it tir:!.:lt.i;1.t;),t ii,t.!litiii:;.,1ir?l j.i"-irr!
il--* flffiffiff+$ffiitfi+H#ffi
ji:ni4!::Ti:1'-!:':.':jsi.!.ui
CHART 3: ATCA A
I
Rcouircd'Parkinq l
4i
: ::i',t i ;!;'i:i:i :r. !')i-::,:.."lii;iiiiiillii iii
Parking lor Completed Projects
per Chart 1 in Cascade Parking
Slructure
Parking Spaces
426.7
Proposed Projects W req. Parking
in the Cascade Parking Struc.:
Scenario 1'- Wellness Center
:. oR''Scenario 2 - Gymnasium'
Plaza Oflice
22.5
0.0
o.7
Subtotal 449.9
Less 17.5% Mixed-Use Credit
-
-J3J-
371.2Total Hcqt.ParKlng at uullo-t)ul
of Area A in Cascade Struc-
Exist. Parkinq in Cascade Structure 4:/1 .V
Required Parking in Cascade Struc.
at Build-Out of Area A
Wilh 17.5% mixed-use credit 371.2
r:..,..;i;1'' '1'. 1: ".'
. briElnal Parcc1
itobj:lns Parcel
Cosgr1ff, Parcel
T.
Glcrr LyonCfficc Dldg.(E.xlstlng) 10r 150 .40. 6gu)\
Glen LyonOfticc DIdg.
?1n5E r
'l:i$
1 .045.
1?. 955
252.00
1P.68
re .JB
208.40
-t.
z1)arz
. t8r?52
15,932
291, 121
SDD T 4, AREA ,D
_ DDvtrLopuarlr lourrna inooracnIl.rD prtru(rNc pER rovlH bn v.rri-L r,ib-urncl.rENTs
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18.46.104 DevelopmentPlans
Site specific development plans are approved for Area A and Area D. The development
plans for Area A are comprised of those plans submitted by Vail Ventures, Ltd. and other
developers. The development plans for Area D are comprised of hose plans submitted by the
Glen Lyon Office Building, a Colorado Partnership. The following documents comprise the
development plan for the SDD as a whole, Waterford, Cornerstone, Cascade Club Addition
Scenario 1 and 2, Millrace lV, and Area D-Glen Lyon Commercial Site and is not all inclusive:
',| . Waterford, Sheet #L-2, dated 1 1-12-92, Landscape Plan, Dennis Anderson.
2. Waterford, Sheet #1 .1 , dated 1 1 -13-92, Site/Grading Plan Gwathmey, Praft,
Schultz.
3. Waterford, Sheet #2.1, dated 11-13-92,Plan Level 38/43'3", Gwathmey, Pratt,
Schullz.
4. Waterford, Sheet #2.2, dated 1 1-1 3-92, Plan Level 48'-6"/53'-0", Gwathmey, Pratt,
Schultz.
5. Waterford, Sheet f2.3, dated 11-13-92 Plan Level 59'-0:i64'-3" by Gwathmey,
Pratt, Schultz.
6. Waterford, Sheet #2.4, dated 11-4-92, Plan Level 69'-6"t4'-9", Gwathmey, Pratt,
Schultz.
7. Waterford, Sheet #2.5, dated 11-13-92, Plan Level 80 -0'785'-3" Gwathmey, Pratt,
Schultz,
8. Waterford, Sheet #2.6, dated 1 1-1 3-92, Plan Level 90'-6" Gwathmey, Pratt,
Schultz.
9. Waterford, Sheetfl2.7, dated 11-13-92, Plan Level101'-0" Gwathmey, Pratt,
Schultz.
10. Waterford, Sheet #2.8, dated 11-13-92, Plan Level 111'-6" Gwathmey, Pratt,
Schultz.
1 1. Waterford, Sheet #2.9, dated 11-13-92, Plan Level 122'-0" Gwathmey, Pratt,
Schultz.
12. Waterford, Sheet #2.10, dated 12-14-92, Roof Plan All Levels Gwathmey, Pratt,
Schultz.
13. Waterford, Sheet#3.1,dated'l 1-13-92, Elevations Gwathmey, Pratt, Schultz.
14. Waterford, Sheet #3.2, dated 1 1-1 3-92, Elevations, Gwathmey, Pratt, Schultz.
15. Waterford, Sheet #4.1, dated 11-4-92, Sections Gwathmey, Pratt, Schultz.
10
16. Waterford, Sheet #4.2, dated 1 1 -4-92, Sections, Gwathmey, Praft, Schultz.
17. Waterford, Sheet #4.3, dated 1 1-4-92, Sections, Gwathmey, Pratt, Schultz.
18. Waterford, Sheet #9.1, dated 10-20-92, Unit Plans Gwathmey, Pratt, Schultz.
19. Waterford, Sheet #9.2, dated 10-20-92, Unit Plans, Gwathmey, Pratt, Schultz.
20. waterford, sheet #9.3, dated 10-20-92, Unit Plans Gwathmey, Pratt, schultz.
21. Waterford, Sheet #9.4, dated 10-20-92, Unit Plans, Gwathmey, Pratt, Schultz.
22. Waterford, Sheel #9.5, dated 10-20-92, Unit Plans Gwathmey, Pratt, Schultz.
23. Cornerstone, Sheet #L-1 , dated 1 1-13-92, Landscape Plan Dennis Anderson.
24. Cornerstone, Sheet #1, dated 12-21-92, Cascade Village Master Plan Gwathmey,
Pratt, Schultz.
25. Cornerstone, Sheet #2, dated 12-29-92, Floor Plans Gwathmey, Pratt, Schultz.
26. Cornerstone, Sheet #3, dated 12-29-92, Floor Plans, Gwathmey, Pratt, SchulE.
Schultz.
27 . Cornerstone, Sheet #4, dated 12-21-92, Elevations Gwathmey, Pratt, Schultz.
28. Cornerstone, Sheet #5, dated 11-13-92, Site PlaniGrading Plan, Gwathmey, Pratt,
Schultz.
29. Cascade Club Addition Site Plan, Roma, 10/10i88.
30. Cascade Club Floor Plan, Roma, 10/10/88.
31. Millrace lll, sheet #1, dated 5/6/93, site Plan, steven James Riden.
32. Millrace lll, Sheet #2, dated 4113193, Floor Plans for Single Family Residence,
Steven James Riden.
33. Millrace lll, Sheet #3, dated 5i6l93, Elevations for Single Family Residence,
Steven James Riden.
34. Millrace lll, Sheets #4 and #5, dated 3120193, Floor Plans for Duplex Building,
Steven James Riden.
35. Millrace lll, Sheets #6 and #7, dated 5/6/93, Elevations for Duplex Building,
Steven James Riden.
36. Millrace lll, Sheet L1, dated 5i6l93, Site/Landscape Plan, Steven James Riden.
37. Millrace lV, Scenario l, akla Cosgritf Parcel, Site Plan, Arnold Gwathmey Pratt,
10128t9't.
38. Millrace lV, Scenario l, a/k/a Cosgriff Parcel, Elevations Arnold Gwathmey Pratl,
10t22t91.
39. Millrace lV, Scenario l, a/k/a Cosgriff Parcel, Floor Plans Arnold Gwathmey Pratt,
11
10/23/91.
40. Millrace lV, Scenario l, a/k/a Cosgriff Parcel, Landscape Plan, Dennis Anderson
Associates.
41. Cosgriff Parcel, Survey, Alpine Engineering, Inc., 10/31/91 stamped.
42. Survey, a part of Cascade Village, Eagle Valley Engineering, Leland Lechner,
6/8/87.
43. Site Coverage Analysis, Eagle Valley Engineering, 10/10/88.
44. Cascade Village Special Development District Amendment and Environmental
xn:,
$et
*n
fmpact Report: Peter Jamar Associates, Inc., revised 11/22J88.
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ffi ,tnUrffiIlt#;;s.tffam.nii;rdnm;itatti i{(e.W!
'*#ii .n#lR:$.ir lie./t Wi:isttE#j| t#lffi#ffi 1#ilti'ii:ryd?i
ffi iTHeffi ir,r$l'ii$uiri$Vi:::w:lffiat::E#|tfi fifi::it*tri:,1,9.4i
frili .ffi#liiRuhgi;l:i#ffiWffi:,,Ftl riiji:li#ffirio€EigaetiiiyiHfl i i
* A maximum of 1000 sq. ft. of cornmon area, in addition to the approved plans, may be
added to the Waterford project to allow for compliance with the Uniform Buitding Code,
Uniform Fire Code and American Disabilities Act. The staff shall review all such additions
to ensure that they are required by such codes.
Area D. Glen Lyon Commercial Site
1. Area D Master Site Plan, Geodesign by Sherry Dorward, U22/90.
2. Landscape Plan for Area D, Geodesign by Sherry Dorward, 422190.
3. Area D elevations, Geodesign by Sherry Dorward, 219190.
4. Vail Micro-brewery, Seracuse, Lawler, and Partners, Denver, CO., sheets A2.'l ,
A2.2, A2.3, A3.1, A3.2, A4.1, A4.2, dated 1/8/90 and sheet A2.4 dated 12113189.
Vail Brewery Roof Study, Frank Freyer, 1i8l90.
Gfen Lyon Parking Garage Floor Plans and Site Plan, Roma, 11128188.
Glen Lyon Parking Garage Sections/Elevations, Roma, 11128188.
Glen Lyon Condominium, Roma, 11128188.
9. Glen Lyon Condominium East Building, Roma, 11128188.
10. Deck Enclosure (Phase lA) to Glen Lyon Office Building, Pierce, Segerberg and
spaeh, dated 9/20/90.
5.
6.
7.
8.
12
1'1 . Landscape Plan, Phase lA Deck Enclosure, Pierce, Segerberg and Spaeh, dated
8/19/91.
12. Office Addition to Glen Lyon Office Building, Buff Arnold/Ned Gwathmey
Architects August 25, 1989 Sheets 41 through A4.
13. Cascade Village Special Development District Amendment and Environmental
lmpact Report: Peter Jamar Associates, Inc., Revised 11122188. Letter from
Peter Jamar Associates, Inc., dated January 16, 1990.
14. Deceleration lane design for South Frontage Road, RBD, October 18, 1988 as
approved by Co. Div. of Hgwys.
15. A resubdivision of Lot 54 amended plat Glen Lyon Sub-division, Eagle Valley
Surveying Inc. as approved by T.O.V.
16. Vail Brewery Parking Analysis, TDA Colorado, Inc., August 10, 1988 and Vail
Brewery Parking Analysis Update, TDA Colorado, Inc., January 16, 1990 pages 'l -
8.
18.46.1 10 Development Standards
The development standards set out in Sections 18.46.120 through 18.46.'180 are
approved by the Town Council. These standards shall be incorporated into the approved
development plan pertinent to each development area to protect the integrity of the development
of SDD No. 4. They are minimum development standards and shall apply unless more restrictive
standards are incorporated in the approved development plan which is adopted by the Town
Gouncil.
18.46.120 Setbacks
A. Area A. Cascade Village
Required setbacks shall be as indicated in each development plan with a
minimum setback on the periphery of the property of not less than twenty feet, with the
exception that the setback requirement adjacent to the existing Cascade parking
structure/athletic club building shall be two feet as approved on February 8, 1982, by the
Planning and Environmental Commission. All buildings shall maintain a 50 foot stream
setback from Gore Creek. The Waterford building shall maintain a minimum 20 foot
setback from the north edge of the recreational path along Gore Creek.
B. Area B. Coldstream Condominiums
Required setbacks shall be as indicated on the development plan.
C. Area C. Glen Lyon Duplex Lots
13
Required setbacks shallbe governed by Section 18.13.060 Setbacks of the
Primary/Secondary zone district of the Town of Vail Municipal Code.
D. Area D. Glen Lyon Commercial Site
Required setbacks shall be as indicated on the approved development plans.
18.46.140 Height
A. For fie purposes of SDD No. 4 calculations of height, height shall mean the
distance measured vertically frorn the existing grade or finished grade (whichever is more
restrictive), at any given point to the top of a flat rool, or mansard roof, or to the highest
ridge line of a sloping roof unless otherwise specified in approved development plan
drawings.
B. Area A. Gascade Village
1. The maximum height for the Westin Hotel, CMC Learning Center, Terrace
Wing, Plaza Conference BuiHing and Cascade Parking Structure/Athletic Club is
71 feet.
2. Cornerstone Building: Maximum height of 71 feet.
3. Waterford Building: Maximum height of feet as measured from finished
grade to any portion of the roof along the north elevation shall be 55' (South
Frontage Road), 56' along the wesl elevation Westhaven Drive, and 65 feet along
the south and east elevation as measured from finished grade.
4. Westhaven Building: A maximum of 55 feet.
5. Millrace lll: A maximum of 36 feet.
6, Millrace lV: A maximum of 36 feet.
7. Cascade Club Addition: A maximum of 26 feet.
8, Cascade Entry Tower: A maximum of 36 feet.
L The remainder of buildings in Area A shall have a maximum height of 48
feet.
C. Area B. Coldstream Condominiums
The maximum height shall be 48 feet.
D. Area C. Glen Lyon Duplex Lots
The maximum height shall be 33 feet for a sloping roof and 30 feet lor a flat or
mansard roof.
E. Area D. Glen Lyon Commercial Site
51"h ot the roof shall have a height between 32 and 40 feet. 49/" ol the roof area
14
shall have a height under 32 feet. On the perimeter of the buildings for Area D, height is
measured from finished grade up to any point of the roof. On the interior area of any
buiHing, height is measured from existing grade up to the highest point of the roof.
Development plan drawings shall constitute the height allowances for Area D.
18.46.160 SiteCoverage
In Areas A and B, no more than 35% of the total site area shall be covered by buildings,
provided, if any portion of the area is developed as an institutional or educational center, 45o/" ot
the area may be covered unless otherwise indicated on the site specific development plans. ln
Area C, no more lhan 25/" of the total site area shall be covered by buildings, unless the more
restrictive standards of Chapter 18.69 of the Vail Municipal Code apply. In Area D, no more than
377" ot the total site area shall be covered by buildings and the parking structure.
18.46.170 Landscaoing
At least the following percentages of the total development area shall be landscaped as
provided in the development plan. This shall include retention of natural landscape, if
appropriate. Areas A and B, fifty percent, and in Areas C and D, sixty percent, of the area shall
be landscaped unless otherwise indicated on the site specilic development plans.
18.46.180 Parking and Loading
A. Area A. Cascade Village
1 . Off-street parking shall be provided in accordance with Chapter 18.52,
except lhalTlo/o of the required parking in Area A shall be located within a parking
structure or buildings with the exception of Millrace lV, Scenario l, where 66.6% of
required parking shall be enclosed in a building. lf the development table in
Section 18.46.103 is amended, the parking requirements shallbe amended
accordingly.
2. There shall be a total of 421 spaces in the main Cascade Club parking
structure. A 17.5 percent mixed-use credit per the Town of Vail parking code,
Section 18.52.20 has been applied to the total number of required parking spaces
in the Cascade structure,
3. There shall be a total of 58 on-site parking spaces on the Waterford
building site with a minimum ot757o of the required space located below grade.
No mixed use credit shall be applied to this site.
4. There shall be a minimum of 93 enclosed parking spaces located within
the Cornerstone building witl'r 37 of the required spaces available to the public for
15
short-term parking. No mixed use credit has been applied to this lot.
5. The third floor of the Cascade parking structure shall not be used to meet
any parking requirements for accommodation units, transient residential dwelling
units, employee dwelling units or dwelling units.
6. Phasing: All required parking for Cornerstone and Waterford shall be
located on their respective sites. All required parking for the Cascade Club
Wellness Center Addition Scenario 1 shall be provided in the Cascade parking
structure.
7. Seventy-five percent of the required parking shall be located within the
main building or buildings and hidden from public view from adjoining properties
within a landscaped berm for Westhaven Condominiurns, and Millrace lll.
8. All loading and delivery shall be located within buildings or as approved in
the development plan.
B. Area B. Coldstream Condominiums
Fifty percent ol fte required parking shall be located within the main building or
buildings and hidden from public view from adjoining properties within a landscaped berm.
C. Area C. Glen Lyon Duplex Lots
Off-street parking shall be provided in accordance with Chapter 18.52.
D. Area D. Glen Lyon Commercial Site
1. Phase l, lA and ll shall include 80 surface parking spaces plus 6 valet
parking spaces on the east end ol the surface parking lot. Phase lA shall include
2 additional required parking spaces for a total of 43 required parking spaces.
2. Phase lll shall include a rninimum of 108 parking spaces. A minimum of
100 spaces shall be located in the parking structure. All required parking for the
east building shall be provided on-site per Town of Vail parking requirements per
Section 18.52.100 for residential and office use. A minimum of eleven spaces
shall be located in the garage of he east building and a maximum of 5 surface
spaces shall be located adjacent to the east building.
3. Area D development shall meet the operational requirements outlined in
the TDA Colorado Inc. Report, Section Parking Analysis Considerations, January
16, 1990. Parking Analysis Considerations pages 1-8.
4. Valet parking shall be prohibited on the west end of the surface parking
lot.5, The Brew Pub shall not be open to the pubtic until after 4:30 p.m. for
16
Phase I and ll Monday through Friday. When Phase lll development occurs
including the parking structure, the brew pub may operate during the weekdays
once the parking structure is available for public use.
6. The Beer Hall shall not operate or be used by the public before 4:30 p.rn.
on weekdays, Monday through Friday at anytime.
7. Once the parking structure is constructed, the parking and access to Area
D shall be managed per the TDA Parking Report, Parking Management Section,
pages 6 and 7, August 10, 1 988, and TDA Report, Vail Brewery Parking Analysis
Update, dated January 16, 1990, both written by Mr. David Leahy.
8. No loading or delivery of goods shall be allowed on the public right-of-way
along the South Frontage Road adjacent to the Area D development.
9. The owner of the property and brewery management shall prohibit
semi-truck and trailer truck traffic to the Glen Lyon Commercial site. The only
truck loading that shall be allowed to the site shall be vans having a maximum
length of 22teet.
18.46.190 Recreation Amenities Tax Assessed
The recreational amenities tax due for the development within SDD No. 4 under Chapter
3.20 shall be assessed at a rate not to exceed twentyjive cents per square foot of the floor area
in Development Area A; and at a rate not to exceed fifty cents per square foot of GRFA in
Development Area B; and at a rate not to exceed fifteen cents per square foot of GRFA in
Development Area C; and at a rate not to exceed seventy{ive cents per square foot of floor area
in Development Area D; and shall be paid in conjunction with each construction phase prior to
the issuance of building permits.
18.46.200 ConservationandPollutionControls
A. The developer's drainage plan shall include a provision for prevention of pollution
from surface runoff.
B. The developer shall include in the building construction, energy and water
conservation controls as general technology exists at the time of consfuction.
C. The number of lireplaces permitted shall be as set forth in Section 8.28 of the
Town ot Vail Municipal as amended.
D. lf fireplaces are provided within the development, they must be heat efficient
through the use of glass enclosures and heat circulating devices as technology exists at
the time of development.
17
E. All water features within Development Area A shall have overflow storm drains per
the recommendation of the Environmental lmpact Report by Jamar Associates on Page
34.
F. All parking structures shall have pollution control devices to prevent oil and difi
from draining into Gore Creek.
G. In Area D, a manhole on the brewery service line shall be provided so that the
Upper Eagle Valley Consolidated Sanitation District may monitor BOD strength.
H. In Area D, the brewery management shall not operate the brewery process during
temperature inversions. lt shall be the brewery owner's responsibility to monitor
inversions.
l. All trash compactors and trash storage areas shall be completely enclosed within
Special Development District 4.
J. Protective measures shall be used during construction to prevent soil erosion into
Gore Creek, particularly when construction occurs in Areas A and D.
K. The two employee dwelling units in Area D shall only be allowed to have gas
fireplaces that meet the Town of Vail ordinances governing fireplaces.
18.46.210 Additional Amenities and Approval Agreements for Special DeveloPment
District No. 4.
A. The developer shall provide or work with the Town to provide adequate private
transportation services to the owners and guests so as to transport them from the
development to the Village Core area and Lionshead area as outlined in the approved
development plan.
B. Developer shall provide in its approved development plan a bus shelter of a
design and location mutually agreeable to developer and Town Council. Said shelter to
serve the area generally.
C. Area A, Cascade Village
'l . The developer shall be responsible for providing a break-away bollard for
the emergency access road between Eagle PointeiPark Meadows, 1472
Matterhorn Circle, and Westhaven Drive. The design of the bollard shall he
mutually acceptable to the developer and Town of Vail. This improvement shall
be constructed when a building permit is requested for the Cornerstone, Millrace
lll, Millrace lV, Westhaven Condominiums, Waterlord buildings, or Cascade Club
addition. The bollard shall be included in ttre permit plans. The bollard shall be
18
constructed subsequeni to the issuance of a building permit and prior to the
issuance of a temporary certificate of occupancy for the Cornerstone, Millrace lll,
Millrace lV, Westhaven Condominiums, Waterford buildings, or Cascade Club
addition.
2. The developer shall construct a sidewalk that begins at the entrance to the
Cascade Club along Westhaven Drive and extends to the west in front of the
Westhaven building to connect with the recreational path to Donovan Park. The
walk shall be constructed when a building permit is requested for Westhaven
Gondominiums. The sidewalk shall be part of the building permit plans. The
sidewalk shall be constructed subsequent to the issuance of a building permit and
prior to the issuance of a temporary certificate of occupancy for Westhaven
Condominiums.
3. The developer shall provide 100-year floodplain information for the area
adjacent to the Waterford and Cornerstone buildings to the Town of Vail
Community Development Department before building permits are released for
either project.
4. The conditions for Area A in Sections 18.46.020 B, 18.46.180 A. 1-7,
18.46.200 A - F, l, J, 18.46.210 C, 1-3, and 18.46.220 shall be set forth in
restrictive covenants subject to the approval of the Town Attorney and once so
approved shall be recorded on the land records of Eagle County. The developer
shall be responsible for submitting the written conditions to the Town Attorney for
approval before a building permit is requested for the Cornerstone, or Millrace lll,
or Millrace lV, Westhaven Condorniniums, or Waterford buildings, or Cascade
Club Addition.
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6. Millrace lV, Scenario l.
a. The developer shall obtain an easement from the owners of the property
adjacent to the eastern boundary of the property commonly called the Cosgriff
Parcel, which is more specifically defined in Exhibit A, attached to this ordinance
and incorporated herein by reference. The easements shall be sutficient to permit
the construction, maintenance and replacement of retaining walls for the purposes
of grading and boulder retention all along the western property line of said
adjacent property. The easement shall be in a form acceptable to the Town
Attorney, shall run with the land, and shall be recorded on the land records of
Eagle County prior to Design Review Board review.
b. The developer shall provide the Community Development Department of
the Town with written consent from the Upper Eagle Valley Water and Sanitation
District permitting the encroachment of certain decks specified in the development
plan for the Millrace lV condominiums, as set forth in Section 18.46.140(18) of this
ordinance into their sewer easement recorded in Book 217 , Page 428 of the land
records of Eagle County, This consent shall be submitted prior to Design Review
Board review.
c. The developer shall receive final approval of the site grading plan for the
construction of Millrace lV, Scenario l, from the Town Engineer prior to Design
Review Board review.
d. The Millrace Condominium Map, recorded at Book 326, page 257, ol the
land records of Eagle County shall be amended so that the access easement
shown thereon shall align with the present location ol the roadway on the western
property line of the cosgriff Parcel, and the amendment shall be recorded on the
land records of Eagle County.
e. The developer shall install 1 5 (6'-10) evergreens south ot the South
Frontage Road adjacent to the Cascade Club building, and 5 (6'-10') evergreens
to the south of the Westhaven Apartment foundations and north of Westhaven
Drive. The developer shall obtain the written approval of the Colorado
Department of Highways (CDOH) permitting the installation of these trees along
the South Frontiage Road prior to said installation. lf CDOH approval cannot be
obtained, then a minimum ot 10 (6'-10') evergreens shall be installed adjacent to
the Westhaven Apartments.
f. The developer shall apply for and complete the minor subdivision process
for the Cosgriff Parcel and a subdivision plat signed by the Town of Vail shall be
recorded on the land records of Eagle County prior to the release of any building
permits for the construction of any structure on the Cosgriff Parcel.
S. Landscaping along the south and west property lines of the Cosgriff Parcel
shall be reviewed by the Design Review Board to insure a suitable buffer area
between it and the other properties along said property lines.
h. The Design Review Board shall review the architecture and landscape
plan further for compatibility with the surrounding area.
i. The developer and the adjacent property owners shall submit a landscape
plan for the area north of the Cosgriff property to the Design Review Board for
review.
j. For purposes of calculating Gross Residential Floor Area permitted on the
Cosgriff Parcel, no credits ol any kind (overlapping stairs, mechanical, etc.),
except for 300 sq. ft. to be allowed for each enclosed parking space, shall be
given.
7. Gornerstone
a. Before the building permit is released for the project, the developer shall
permanently restrict three employee housing units in accordance with Section
18.46.220 of this ordinance.
22
slth#Feirn.
e g. me hndscape plan set forth in the development plan for Cornerstone
between the Terrace Wing and Cornerstone building shall be revised prior to the
review of the project by the DRB in the following ways:
1. For emergency services, an access lane shall be provided from the
western courtyard to the ski lift.
2. lf deemed necessary by the developer and the Community
Development Department staff, the water feature on the landscape plan may be
removed or revised. The landscaping in this area shall be part of the Cornerstone
development, and, therefore, it is the Cornerstone developer's responsibility to
complete this portion of the project prior to the release of a final Certificate of
Occupancy for the project. These plans shall be included in the building permit for
the Cornerstone development.
d. e. After the Town of Vail has tifle to Westhaven Drive, it shall convey title to
the developer for the area of Westhaven Drive under which parking is located for
the Cornerstone project. The amended minor subdivision plat shall be submitted
by the developer before a building permit is released for the Cornerstone site.
The developer shall dedicate an access easement to the Town over this portion of
Westhaven Drive.
e.i:id. All fireplaces shall be gas appliances pursuant to Section 8.28 ol the Vail
MunicipalCode.
t e. Those spaces allocated to commercial areas as short term public parking
shall be permanently restricted for the use of the Cornerstone project. All required
parking associated with the uses shall not be conveyed, used or leased
separately from he uses. Public parking on the Westhaven Drive level of the
Cornerstone project shall be made available to the public for short term parking.
8. Waterford
a. The developer shall permanently restrict the tow employee housing units
provided in the Waterford Development Plan in accordance with Section
18.46.220 of this ordinance.
b. A minor subdivision plat shall be completed and recorded prior to the
release of any building permits for either the Cornerstone or Waterford
developments.
iffiere
ffi
3: The Town shall eommenee the repair and reeonstruetion of Westhaven
Brive and its onEoing maintenanee; subsequent to the reeeipt of the $97;500
reeonstruetionand for its eompletion shall be entirely at the diseretion of the
:Fovul:
die; The recreation path shall be relocated as set forth on the development
plan and shall be amended on the minor subdivision plat for the Waterford and
Cornerstone lots to correspond to the new location.
e#lt The DRB will review the landscaping in the areas of the retaining walls on
the west and east ends of the site. The DRB will review the north elevations
architectural details. The applicant shall review the possibility of eliminating the
skier access on the east end of the project. However, if the applicant can
significantly decrease the retaining walls necessary to build the access. the skier
access may remain,
f,c. All fireplaces shall be gas logs permitted pursuant to Section 8.28 of the
Vail Municipal Code.
25
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Area D, Glen Lyon Commercial Site. Fii- /t ( ( ",,i
.1,,.q. ,-
1 . The developer shall agree to constrtlcla bus lane per Town of Vail . - , r-t-
sfandards in the area of 9e- BArte=cocheaAllryicro-brewery in Area D. The J r ' l"'t-
t\^.4(, z-rt-\
(c)z
1p,.p iA
.---
specific location for the bus lane shall be mutually agreed to by the Area D owner
and/or developer, Colorado Division of Highways, and Town of Vail. The bus lane
shall be constructed subsequent to the issuance of a building permit and prior to
the issuance of a temporary certificate of occupancy for either the brewery
addition, office expansion excluding Phase lA, east office building, or parking
structure. The developer andior owners of area D shall be responsible for
maintaining the new bus lane, including snow removal. lf the lane is not
maintained properly or snow removal is not adequate, the Town will not provide
bus service to the site.
2. The developer shall relocate the existing bike path on Area D and provide
a new bike path easement across the Glen Lyon property and CDOH property per
the development plan for Area D. The bike path shall be constructed per Town of
Vail standards. The bike path shall be constlucted subsequent to the issuance of
a building permit and prior to the issuance ol a temporary certilicate of occupancy
for either the brewery addition, office expansion excluding Phase lA, east otfice
building, or parking structure. Such temporary certificate of occupancies shall be
conditional upon construction of the bike path provided for herein. The bike path
easement shall be replatted and approval obtained from the Town Council prior to
the issuance of a temporary certificate of occupancy for either the Brewery
addition, office expansion excluding Phase lA, east office building or parking
structure.
3, The developer shall underground the electrical utilities along the north side
of the Glen Lyon property lrom the northwest corner of the property to the
northeast corner of the property. This utility work shall be constructed subsequent
to the issuance of a building permit and prior to the issuance of a temporary
certificate of occupancy for either the Brewery addition, office expansion,
excluding Phase lA east otfice building or parking structure.
4. The developer shall be responsible for relocating the 20 foot utility
easement on the western portion of Development Area D as well as obtaining
approval lrom the Town of Vail for the relocated utility easement before a building
permit is released for the micro-brewery addition.
5. The developer of the Glen Lyon Office propery shall not file any
remonstrance or protest against the formation of a local improvement district of
27
other financing mechanism approved by the Vail Town Council which may be
established for the purpose of building road improvements for the South Frontage
Road.
6. The developer shall provide a fire hydrant per Town of Vail Fire
Department requirements on the northwest portion of the property. The specific
location for the fire hydrant shall be approved by the Vail Fire Department. The
fire hydrant shall be provided subsequent to the issuance of a building permit and
prior to lhe issuance of a temporary certificate of occupancy for the brewery
addition, office expansion excluding Phase lA, east office building, or parking
structure.
7. The Developer shall construct a deceleration lane along South Frontage
Road per the CDOH access permit. The developer shall submit plans for the
South Frontage Road improvements to the Town of Vail Engineer for review and
approval before a building permit is released for either Phase I excluding Phase
lA, ll, or lllconstruction.
8. The conditions for Area D in Sections 18.46.180 D, 18.46'200 A' B' F - K'
18.46.210 D, 1-7, and 18.46.220 shallbe set forth in restrictive covenants subject
to the approval of the Town Attorney and once so approved shall be recorded on
the land records of Eagle County. The developer shall be responsible for
submitting the written conditions to the Town Attorney for approval before a
building permit shall be issued for the Micro-brewery, office expansion excluding
Phase lA, east office building, or parking struclure.
9. The minor subdivision for Area D shall be developed per the following
conditions:
a. The development of parcels A, B, C, and D, shall be limited t0 the
SDD No. 4 development plan and governed by the SDD No. 4 ordinance
as approved by the Town of Vail and on file with the Department of
Community Development or as amended and approved by the Community
Development Department, Planning and Environmental Commission,
and/or the Vail Town Council.
b. The minor subdivision plat shall include a statement that
development of the four parcels shall be governed by the approved SDD 4
development plan for area D and governing ordinances.
c. The Community Development Department and Town of Vail
Attorney shall have the righl to review and require changes in any
"Agreements ol Tenants in Common", "Conveyance of Easement and
Party wall Agreements", and any other easement or ownership
agreements related to the development of parcels A, B, C, and D to
ensure that the four parcels are developed per the approved development
plan in SDD No.4 Ordinance.
d. The developer shall be responsible for replaning the 20 foot utility
easement on the western portion of development Area D as well as
obtaining approval from the Town of Vail for the new utility easement
before the minor subdivision plat is recorded. Any modilications or
amendments to the minor suMivision conditions of approval agreement
shall be reviewed as a major amendment under the procedures outlined in
Section 18.40 of the Town of Vail Zoning Code.
e. The condiiions for the minor subdivision in Section 18.46.210 (Dg)
A, B, C, and E, shall be set forth in restrictive covenants subject to the
approval of the Town Attorney and once so approved shall be recorded on
the land records of Eagle County. The developer shall be responsible for
submitting the written conditions to the Town Attorney before the minor
subdivision is recorded on the land records of Eagle County.
10. The entire Glen Lyon Otfice Building and Brewery Building shallbe
sprinklered and have a fire alarm detection system. Town of Vail Fire Department
approval of the sprinkler and fire alarm systems shall be required before a building
permit is released for Phase I excluding Phase lA or ll.
11. The developer shall submit a set ol amended plans to the Colorado
Division of Highways for review and approval. The improvements on CDOH
property proposed by the developer must receive CDOH approval before Phase l,
excluding lA, ll, and lll are presented to the Town of Vail Design Review Board for
finalapproval
12. The east building including the two employee dwelling units shall be
constructed when the parking structure is built to ensure that the employee
units are built.
18.46.220 Employee Housing
The development of SDD No. 4 will have impacts on available employee housing within
the Upper Eagle Valley area. In order to help meet this additional employee housing need, the
developer(s) of Areas A and D shall provide employee housing on site. The developer(s) of Area
A shall build a minimum of 8i6 employee dwelling units within Area A Westhaven Condominium
building, 3 within the Cornerstone Building and 2 within the Waterford Building. Each employee
dwe||ingunitintheWeshavenCondominiumBuildingsha||@
e+e€Suare+eet Wirceill+striqlediies::ft:T.l,peiitltiEHu. Each employee unit in the Cornerstone
Building shall have a minimum square footage of 600 square feet. There shall be a total of 2
employee dwelling units in the Waterford Building. One shall be a minimum of 300 square feet
and the other a minimum of 800 square feet. The developer of Area D shall build 2 employee
dwelling units in the Area D east building per the approved plan for the East Building. In Area D
one employee dwelling unit shall have a minimum GRFA of 795 square feet and the second
employee dwelling unit shall have a minimum GRFA of 900 square feet. The GRFA and number
of employee unils shall not be counted toward allowable density or GRFA for SDD No. +. fiJi
Itt*rea#he
for said units exeept those units in f|e €ornersbne and Waterford elevelopments: The two
30
@
ine
Adffiinbtrat€r)1
@
4r Ng later than februar" 1 of eash year; the owner gf the employee housing unit
Vail and the Ghairperssn of t\e Town of Vail I lousing Authority; setting fordl evidenee
@
5: This agreement shall be reeerded at the Eagle Gounty Glerk and Reeorder's
€#ie*
18.46.230 TimeREuirements
SDD No. 4 shall be governed by the procedures outlined in Section 1 8.40.1 20 of the
Town of Vail Municipal Code.
Section 4.
lf any part, section, subsection, sentence, clause or phrase of this ordinance is for any
reason held to be invalid, such decision shall not affect the validity of the remaining portions of
this ordinance; and the Town Council hereby declares it would have passed this ordinance, and
each part, section, subsection, sentence, elause or phrase thereof, regardless of the fact that
any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid.
Section 5.
The repeal or the repeal and re-enactrnent of any provisions of the Vail Municipal Code
as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any
violation that occurred prior to the etfective date hereof, any prosecution commenced, nor any
31
oo
other action or proceeding as commenced under or by virtue of the provision repealed or
repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any
ordinance previously repealed or superseded unless expressly stated herein.
Section 6.
All bylaws, orders, resolutions and ordinances, or parts thereof,
inconsistent herewith are hereby repealed to the extent only of such inconsistency. The repealer
shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof,
heretofore repealed.
INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON
FIRST READING this 18th day of May, 1993, and a public hearing shall be held on this
Ordinance on the 1 st day of June, 1993, at 7:30 P.M. in the Council Ghambers of the Vail
Municipal Building, Vail, Colorado.
Margaret A. Osterfoss, MaYor
AfiEST:
Holly L. McCutcheon, Town Glerk
READANDAPPRoVEDoNsEcoNDREADlNGthis-dayof-,1995.
Margaret A. Osterfoss, Mayor
ATTEST:
Holly L. McCutcheon, Town Clerk
f :\everyone\ordbrd8. 95
32
... j..'* ',.. ', t':ri;'.I^,;::..,r.e .:.XOELDEL PnOpEnTl..
; :' '; . i.i:ii..r;.. ';ip.EVELODi.lE::T AREA r
..,jIOJ.IOf{S il . :t' :r.. ..1'. .....,:..' ... r-" ""', r'l;rL--r.,L.;L' .15.
.:t. :...r:.'. :.: :q.: ';.::li .:.. . :-; Deqinn,ing'ai a'polnL.?!' tl" ucsu llnc of :ard slt-1,/{..Nu l,/4'from ui1f 9l1 tlic t{ortir-inc-qurrecr corner of.rald secLion'bcors ilor:!r . oprs_' .ij"r"iic l.i ri rd"tl -ir,";;;",rir:h oor5,. EDst .. .aIong said.:l{csr,:tinc, -Is::iL'iccr, to o eoiit Jn th.c sou:l.reas[c:t],".., right of 'r.ray f tlq. "ii ulsl..trigi,roy 11o. 6i rhcncc, arong said .i'.SouLhcasl.:.=I{. jiShr b: "iV'fiDcr rs follorrs:, d:. ,f jrii .., (;..;....
:,i . il3iii i3:it: lifii lu:l;,i::ii itl" ",',"0,, ;;;;;;*;. :l-lh*-T::lh:llrt.l-?{. sara-su' r7s'n r/.1 ; rhcnce ilrii.,"ii"!I,' ."''.'Easr, arono rhe. North' unc-or-'"iii-sii ii.r iii'j'loi"iii.l"*ii" o,' j'rcss, ro a-poinr on-[no-'Jiniiril;; ;i Etic"iie"r,.; rhcn.e, a).ons thc:.:"."co"f lne 'of Gorc Crccl:, as-iolfor.rsi ---
'i.f i:
11i1'{est, I06 4 ;10 f ceE Lo .thc point of U"g in"l"gl
s-gtlt ] 9ill , ncsc, 101.0.1. f ccr;:'.. ..:i:"1'i:\ .tq:ii' ir;;i: 3;:oi"ri-"ii'South :fof.t' lJest,'ZOi.0i ;;;;;souLh L2oI0r l{esEr IIo. Z5 f ect; arrcSoutlr 20o.llt.l.icsu, 2,tz.lS ia;i,.ih"n.". sotith ?5oI5,
"'t. i;i 'j
' .'Tlose Dsrccl.,!r.. .i:::.. "3.190 asrcr
' l.'trrc: of land situ:Lcd rn thc sl.jtlrEr ol scction If , .,",i.TP 5 S.', R. iB-I:.;l.t.:r,'9f,.the 6Lh p.;.1 ., l:'.,ing Souchc=Iy oi that cc::ein,' .trrct of ..Lantl'clcss=ibid'in Dook t9i,;i'iei rlz, rloiirrciti--ino----. -.-.
. .' :,1{eslcil)'.of .,i.tlre. cini,cr Llnc of Core'f,reit:, ind tiing rroit,:rcity..anct.:.':.'.:Eot..":'1it,9i jithose ccttain trf,crs clcslcribcd in lo-ol: itt au nagi'lde ,.'.1: ; Dooli 2II a['Pagc l0B and Dool: 2I5 trl !agc J65, clcrcri!cd as'' lollot'ls :.'.1-r.: -'::..':.'. I.'r. -..i...: : ,1..i ' Dcginning .o t .a point, on Lhe Nor:h-Sou th ccnter linc' of said'.Scct,ion. I2 'uhcncc .tlrc l.lorLl't guarL,c: cornc: of salcl Secticn' I tz bcirs lt. 00ols' E. 2269.4 0 i.;4,. l'--- ---
. ;...i: ..;.i thcncc N.; ?5oI5.' E. 346.2i6 f cct ..o thc trus poinl'of
.' .bcai ntting , laid 'point bciirg on thc sbu uh linc of that tlacL dlscribccl.. trn Doo):i'1.99;:Pog'i. I97 and.wlrich bcars s. 0Bol6' E..2205.f,4 fcclI from the.tlorth quarLcr corncr of caid Scc:ion 12;. ,'. _.- -!, :r.l'-'j: thcncc. Nl ?5oI5' E. ?17. B4 f ccL along tlre SouL,hcrJ.y'..1: :. line ol tlraE LracE rleccribed in DooL I99l !.ogc iC: to the ccuicr'..;';. i Ot GOfc::Crcek; :'ri.-,;i'':,;. .1.'{' . .
:'.'. i . - thcnce s. zBo4lt 1'I. 130.61 fccL along thc ccnt,c; 3.lnc
.t ; ef 'sairl: CrecLi i{l'i lr'; ;' .':.'
thcnce S. 05024rJ0" E. L04.50 fcet aLong thc cenLcr'.; llnc of--baid:Crcckll ..r
^. ::.1" : . _ : 'thcnic i. ilozg I l'1. 95.50 f ect along thc ccnig;"J.lne ..
. i, ..:pf, su.ld.,.95c-9\t.:.?i,,,.,:. ., lr-^:.,.
;
'r;i.'oe:.sar.q..qrqll;:::..:'r,?.1':o:.tt' 124-'47 .t":.t ulons t'hc cent'er lrnb ' :
ir"'.'j .t
. ''t: ' oE.caId'Crcckt Lto. thc.southcart sorncr o! tlraE ccrtaln tract of
i.:,.. lpntl.*deqcrlbcdr.ln,.Dook 111, pagc 100,
ilr:i;""e pr.:,er'ii;iiii:":U;:ii:1,*";f"tt;?ii l:"t'Xt"liri,.
-"'---r,'
,
i
. l.:-:Norihc9sr.9r,l.y.:Itnb.'.of thoL tract'dc!cribcd.lri'Dook-211 at pagc 108;...t '. . 't,lrensc..rN,-iB6:02r,30" l.l. 162.92,f ecE along the l{orthcrly...':r.;fino of.r,hlro:c .tratts"dcisribcd tn looi.-ifl:ii ligc-Ioe lootr, ZtI-' .
"':a L !!9 e, f,0 q ; to,'.a' points; . ,'. '.i ' i - '' "'ihciicc'H. ':iosz I f 0., l.l. '?6. oD f ccL along thc' Northcu: qcrly llnc of thnl LrDcl dcscribccl ln looli zls aL logc.. .365. to lhc poine of bcalnnlng'.
-. L:!. .. '
33
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CO:ITIJUED
IIIID
I
t
: !r.l;1 . r
t.rl !!ae, nare.Bj,lh:-:yl*i lii ir;.;;o r;l r;Lor;;;li"r"'l; , it]:thc ccnEcr'of Gorc cfccp-.ao'litrovn: on .!rrc..pr.:tionr.rrl'c rn. thc.: .:ri.i, jBtit;: 3:":l:,:l,l: i:ii:;-ii;;r'.";i ii:":i::-". ooruiicnr_ _. ,. :c:
'
---:"- i '::: ' t'! ; 'tlc{inning ot ll3"fltrrl'tooit corncr of soid sl.lr}rE!1 r:r,'..:. "'. ,,.:i:,
:lil"E,::X:n eoo:rr-N*it-iri:;;'i.:; il.: ;:l"r dn th? icntc"..o,.:i;. rhcncc south i:::1 roor, e4.r;'r:::',il il cc..,rcr 6r said "::j,. thcncc souEh lt:?l,i,l;;; i.i.ig r_cci iron; .il; cenrcr o! sard crgck.;:thencc sour'h *:sir.ri"'i-zoiliz-1""; ;i;;; iiii ""nror or sarrr cresi.,.iillli !!!!l iiliii;ilti ill;ri'tli:)r:i"i:: :::::: ": saio-i=eei:;thcncc 5o::Lh 5o2.i i:16ii-;^-:;1v;:: ::c:; ',. ._ -..1r..\:?4 .,-.. .crcdt:, 5''z'l'30" EasL,"'tzo.oo ;;;u aronj''[ri;i:!l'i:i"'r'.oE sric
,:l:l;; soirth 2JoootD3n ucsr, Ds.24 rcct rrons thc ccnici o, "oro
.'
'thence.50ubh 54000r ricst 25g.3.r fcct. aronq tto ccntcr of said. cregki.
:::ffii sourh 6so3{' l{c,sr, ,or.o, ,""rloro*'Tg .nno*r of satd' ;rr:r:: ::x:r'ii,lii,lliii.liiili;ritriiri'rllt,,*:ii"*i':rii':lilii:
.,,
tlrencc.ltorth
thcncc. lrori,h soos?' r*"ir igi. ic-iiIu-"i3ile"'iiro ccni,er of said c=cel:ithencc i'rorih Joolo' llcst, i1-l: oc r"cs oroni:ir.,e gcritcr.oi saici c:eekithcncc souih ?6oJs' i.i;;! oc.ei.ri"!-"i?;!:tr''o."dnr", or siio-c:seki ..to a polnt. on^the lfcstcrly ir.nc of .said StiEi.tEh; :tt:ence south 0ors' ucst a?r.20-qo"rr-rrortir":aon.or,,of ralrr sct:icn 121Hrcrrcc Nor:h 09.02, Easr.-i5uz.ci iu"rr-oioiu-trrc,:jourhc;Jy rrnc.o.f ..saicl . Slt!;litrt to_tl.rc Sou:..,crsc .or11", o!, gairl: St.;rrlttr.;;.t'hcnbc l'lorLh ooo6' nasi i5o;i.rz-ri"irr-irlli]!rro:Essicrtlr rrne oi s-aidsl.'bt|E:toE'hcllori,hcast'io''"'o{saie-ii.iirii:,.thcPoi:1i,oibcAinning,
r
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Thc l{llhsEli of scct,ron 12, Tor.rns.hrp 5 soulh, nangc or-r.rcsi of t::c'i.r ;:.6th P.l'l.';
t rrr. : . r" -1.,'i .:.- i'"
/ilr u .....:'._i,.;.i. .: ._
r'I). that paft'of '!hc sEr:l.nrrr,of :!:llon-12,._q!ifir.Iro.S soutt, nonf'; .,,B1 l{csU o! rhc -6 rrll.p..rr. , ivi^s l."ir.,ihi-li,,i1'"..5outhcrry r.Ighr ofvay rine o! u.s. Itighrray u?r. 6, as shor.r'n on'trr'e. prat on f rlc.rn the::;:;ir:f :::r:iil;,:""i.r clcir: one.'no"oi,i"i.:i; oocurncni no.-izrse,
t.
l-' l:gilliltr g.t thc sourhcasr corncr of raio sibrrnrlLhcncc souLli Bgoo2r l.rcsL.0l6.g5 fccL alorrg:.rhq:lolihcrly lrnc oi.'ti;i":il-ritr to a polnL on. tltc souLtrcrry iishi'or "ov rl"r,"-3i';ho .:'
tlrcncc NorLh s2oJs'! Eacr r05?.0] I:l!:"lgnp.thc:sourhcrry rtgrrr.of way llnc of ralcl htglrway 'co a p6rnt on Lhc. rasrcrry tlnc 6r salrt..sEtNNrr i
. rhence'.sour.h oots, lrcsb 62D.zr. 5;et 1lo.lg.'!r,i.Il:lcrty llnc of.";iol-EEtrNllk Lo thc souLhcasE corncr of salcl sihNr.tti..Enc pornt of ... .: -bcglpnlng, i - -',.
' EliCEPT.TtlE'rTOLLOllIllGz , .:
Lhat part dcsciJ.bcd In Dqok I08 at, page 545';.t
that part dcscrlbcd Ln 191 ab pagc 24I;
'thrt part descrtbccl ln Doolt ZOi ab pagc 23I;
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't.
34
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ilTE par.l, dc5cribcd ln.'Dooh 20t ar page 53I; .1 | '..:.
5oi'ei'iu certain"'1',j:i;.:':i;liiiiqi^. ',:_tnii
ou'gyo;oo3c.:ibec'.propcrtT, onii;,j.locatcd. in:itrci.'iJ.:iili.ij.i'iiknti?l"*:;::::':::ir.,.i'r'i.rl.Eil-p"==.csini,cnd
'.. County cf Elol-.i:sii.t"':i':iiiiii.e;-';;'.,:',':
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{;1ii!i1l '- : ALsp,JJJF:.FqLLo:niic..FAnciL Fofi.iE.D.L'r. rr{o..iir ns' lr;.'ccscirr;.pA1c:l,'.:::;i..:tilr ' ,'rrr-yr.li,*.JyLLv.rrr,u-rr_u(LLL IUlJ.ir.y.L-f.IJiOilil AS- Tlli."CCSG:
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-t'iirrrr- . . ...,,rrsEtnntng.at a toint Uhcncc fhc l{orrh QuDrtc,i{}lii:. .,. :rt.!9i.ncr:;,oi.,ro: C !cct j on lt Leais li. tl ?.0J, .\,.r.4:Ji:?::: ..:r?291..22 ;lccr:.Llrcnce S. 60"02.36ir-f.-S'ilSO'"i.z..rp;;!::: ..:r?29?,..2? ;lccr:.Llrcnce s. 60"02.30,, f,. sg.50' -r r.;; ' ' I ect : .thence.S. 5q.42,30,, E.. I C.g. E6 Iccr i. thcnc:lirn$i.: I ;..,. :':rS;.i33..16:.:Cri,r. iqo.iZ-i.."i:to i.-p"i;;-;; ;il;"
f1;i;,1 .t : "lr:,ii:.;;i;"'iiil.li'.ill;i'.i.,:::;'3.'r!?lli i.'i!:!.i.r' i:j.......!.cntcr-oI:.soj.o. crcck: Llrcncc S..65r.3I., 1....1 09..6?
i,.';;ti,'i'r, .. ..r..,..'l::ll.lJ:?T9.,.h,.....:l..gr I jne or.:: jd cre=k;-th:'ncr-'
i:.. ,, ---'-- rr.,.Jvr,.9-,.ii.'..i_. .,f e'c!"a).or,g thc ccnLcr I jne oI.si jd cre=k; th:'ncr'.l1:j.iir:;,:;' .'.]:'S..;.69e.(r.l-:: U.. :j(r.?B'f ccr alonp,'thc ccntc; I inc of ':i;:;i,.;, ' - ':'i. s';id.;ci'cck:.tlrcncc 1i. 21 "12'3o" tJ.'3 1?.)4 f clr
.ti;.'.':.' ''' Beginnini o'. a plint rl'l-'i1.t;:;i Lo?ntr oi ctid 5tctionii'l;:;1 co-rncr oi gajd 5tction lf bcarr ll. !l'03' !1.'i;ir:'i't. '., ?212.77 Lcdtz rl,rrce 5. 85'43'lq" E.'89.8{fcet'l
ii:,../l; . ' ._. .. rhi_ncc S. 57r:5'3(1" I. 169.q6 f r.Er,: Elie nce S. "
;irl iii'i:'',' ".,r.i:!.'r?Lc'riU'criof said crccl:: rhcncc S. 65'31r35', h'.';i2' :iL' ': ' 'i,l'. 1'.r,-r,, ar f r-rr .'l n,.- rL,- r^.?\r,.? l lno ni'r:,{r{ nr-',t.'^. -u.' ' -, .'qBnLgl '91 ;,dJ\J Ll gUt i LtaullLl; .r' eJ Jt Jv-'';; rir t".;..1 0.9..6? f sct. tlong. the ccntcr lJnc of satd crcck;:iil'-f'j ..:.,, '.i!"'tti criic"'5. (; 9o(rl'J6" l'.t. 103:0? f ccL along tlre
- - t r-^ -f .--!-: ----!-- -L^-'--.tt ,trl l'lA.|\6at
.i:.':':". ro the poinr ol bcginning,, contqining l.g5 ?creJ rnolc o; Jqsc. ,
;i,'t:' ",.Dcninnjni Di .a Ftink rl.-,rncs rlrc florth Qu:.rtc!
ctnrei lJnc of'rr,id'crcek; thcrice ll. 23'24'09"
,l.ir.:,?19...(r9 f EEt t,o. rhc point of bc5,lnn1ng...
.1. ."j:lf'.'r'ro'cirttrn'.r^ilrl.l en ccr,incnE qs dcscrJbcd :'Jn :Docu:,cng
;"*"recbrdcd'Aulust'5,.19t(' Jn'Sook 306 ot"?cre 443
.i...... l:i..,iiand,tg.sordcd...J:, ltrtr( 301 r,l Pugc 86'of thr!.i...... ji:t:l:.4n0,f 9..Cofs8q.-.);, 5(r(r\ JU/.t,L J"Ltc ae-er
,. . . . ..:.iii;E-ag,)..r', C.ounty;,rccord5.
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ii;appult cnDn L . t'o thc' above
ucll r16hrs
crlbed propcr
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ln Civil Ac'.JrrJcr CourB,'.
ctrss dtlcrccd
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ri ori
e ed
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.'.': i,"jf..i.';'intlrici'nn rii rhout llrita. 9+70?. tiater. rJ phrr dccr. Iio. 2375 in EaG)c CountS' rll rl'.'at nortio;, of uaLc' Cz r..q. 'lt o ..,.'90 c.t'l 41 0 , Va t c
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r.ine or soid sccr,-i"ii'fi-;;"ii::,t;.or)'tlrc'llorr,lr-Sou'rh. cenroi---I:".Ii"ll_l2 'bcars -pJil'.,ii'o',i",:::: t|'l I:.Lh Qucrbcr corncr oi soie. ' :!i;il"i:'j;ti"i'"iiil li"l i'! ; erl r'*l:' io=l -ii
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,'Ll^tha! prr: of, Lhc r'rri'ppr. or sJ"iiqr,rr, rviirs]ooua',"='i, o! thc , ,r..'''soutlrcrrl' risrrL-or-s'cy'ii""-"r"ulilyiirii.i:llL;l:.6 ancl,rroi*rirri, .. . j..-... .1.: ;,of tlrc sou!h:rIv lino- oi-iiii-:liir.r:, rs shor,rn on .thc pl.at on .f iIe. . ...,. .. ..i
i'J.li;,;fi'5:,:irii: :l;li,i:;::i-ii";i, ;;;"ii";;{e:"
1".:o?curne.ir - .,;;; ..' :.r{o' v t 4ut t dcscribcd ac- forror'rs: 'i.ri'...i-,;"::*":r;.r-. i:; '-t
:!cginning at tlrc-lrighr'riy-;;;;;i monumcnL aB Lhc r.nrcrscction oi t,lre..Sou tlrcrly linc oI si j.O 'hi9f.ru,"i'ina tlre !as hcrI1. line- of ..saLdll\i{E9, wltencc 'Llrc trortrciii "6;".r orsuid section'l2,bcars:norlh :r,. 'i..0o0J' i.lcsh 6J,t.?0S.{g:t, .l:];'l:; i?l:n"1'::!;'f,;rlllll,ttt'.rr rccu iro-rv,f.l: :.,.'lo,rl rieht-i j
,11;"ii"t"":!""1?l'li"lj:::,r?i.10 {ecE alons tr*'1o.uui.'iv 'Gr,r:'fut;i ;;: ..
ill"lt":":i""l1;'li;ln:i'r00'00 recL orp.r.e:1': :;i:;:'i;;i.'i'! o.i'"'' -''
.l',lil"firiou itr" as"sii;';i;;i' r.0.0 . o 0 rcc r orone ti.'" iouli;lrri ii""lor ii. .,, ."..eAld hlghrvay , - s-v"v \"'ri 'rv\' s{rsrry' U.DC'.O.E '. .r' '3'-thcncc souiir'62015t lrcsr. roo. oo f eir ,"r""g lri" siu-ufi"riy.31nnr.orr., :
1.tgy llnc of ralcl hlghway, . ' ,.. ,.....!...., ._. . :th-cnca souEr,-ls6aiji'iiuri'r00.00 reeb urons.'tr.,. r;;,iri;;;li rrghu or., .:?lY llnc of ralct hlghwa1, , ,.. -?:..,(.. :r .
ii;"!:"i":!:"ii:'ilrl*:;,t'0' 00'tcct' alons thc iout:l",lr fishilori.: ..vay ilnc al aald ltlghwoVl . ,,.,;;;-,7 :*v..r' eI "' . ..
.i,i;";i":":;:": il' il,llr;,' o o' o:
th-cne= Soubh 'tzosii'ri.ri'zrz.sb'{o9t'aroirg !hc'fo.u!h.crry,itd,hr,,-6f:r'.:. '-' "
liiit,"i;"" or cal(r lrislruray uo a potnr-";-li;l,ip'1f;:it- ii;i;;i:f;.ie;
thcn=c ijorL!i Bno3l! East 49?.67 rccL ar6'n9 thc'.6outh'erly'lrirs sg..-.1 .: .:.. grld t'rrruEk to tLrg_ccn!cr or'irrc N;t-.;^;;io.:il;Lron-rzr' thcncc rorirr obo::1 ii!i iizilrs-'!;.!-"igi'; [r,:i-sourr,irly:.]lne .or.i ; j, .i..'Eaidtll,ltEltotheSouL'haast.coincrof.siid,Hiiiiti.'.,..t
-!!tS-nS;'rloittt-o60lr trcsr 760.s!irocr alons ltrci.rjird5ly:lini s6.,'.
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llli! .ttr Lts lnicroii"iion "i-riti u,"-s"uIr,iriytil'no.or. raid .i'.''i'nr9i:Hay,EhcpoInt,.otbcainn1n0r',.-..'.;.l-:l...
36