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Vail Offers a Diverse Collection of Real Estate
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By Kim Fredericks, About.com Guide
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A Village of Real Estate Opportunities in Vail: In 2011, Vail completed a multi-billion-dollar renovation of its European style village. The project replaced older buildings w ith new hotels and residential projects, connecting them all w ith cohesive landscaping and lighting, heated sidew alks that melt aw ay w inter snow , and a recreation path that comes alive w ith runners, dog w alkers, and bikers during the summer.
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Ice sk ating at Arrabelle in Vail Square. Photo courtesey of Jack Affleck, Vail Resorts More Images (2)
Dubbed “Vail Renaissance,” the project debuted several new residential resort projects, most notably, The Ritz-Carlton Residences, Four Seasons Hotel and Residences, Arrabelle at Vail Square Hotel and Residences, and Solaris, a mixedused development that combines retail and luxury residences. The spiffing up of Vail elevated the resort's reputation to one that's now on par w ith competing luxury resorts such as Deer Valley, Sun Valley, and Aspen. W hile Vail's new ly coiffed image boosts its cache, the resort still has w ork to do as it plans for the future. Celebrating 50 Y ears:
This season Vail celebrates it's 50th Anniversary, commemorating the milestone w ith the opening of a new gondola w ith w i-fi and heated seats, a new onmountain restaurant, special 50th birthday concerts and events, anniversary headquarters at Welcome Centers, and a birthday bash on December 15th, complete w ith firew orks. W hen this celebration is over, Vail can look forw ard to tw o other major events. The US Open Snow boarding Championships, the longest running snow boarding championship in the w orld, moves to Vail starting in 2013. In 2015, the w orld's best skiers come to Vail to compete in the World Alpine Ski Championships.
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Unlike former mining tow ns turned ski resorts, like Park City and Aspen, Vail w as built from the ground up. Fashioned on the architectural styles of Sw itzerland's Zermatt, Vail w as developed quickly, spreading along the base of its mammoth mountain to incorporate three base areas-Lionshead, Vail Village, and Golden Peak. The brisk development led to a un-cohesive plan that lacked style and a tow n gathering place.
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W ith the completion of Solaris, Vail Village received its center. The project also added a touch of contemporary flair to Vail's Bavarian village, characterized by a signature clock tow er, terraced buildings, and hand-painted signs. Designed by Barnes Coy Architects, Solaris' ninestory log-and-timber design w raps around a public plaza w ith an ice skating rink.
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During the summer the ice rink serves as a great law n, hosting major events such as the Teva Mountain Games. It's mix of retail and restaurants draw s skiers from the slopes into establishments such as Matsuhisa, a chic sushi haven, Bol, an urban-style 10-lane bow ling alley and restaurant, and trendy Cinebistro, a luxury movie theater w ith converted by Web2PDFConvert.com
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and trendy Cinebistro, a luxury movie theater w ith reserved seating and a full bar and restaurant. Vail's Residential Options:
Ow ning a home close to the largest ski resort in the United States comes at a price. According to Land Title Guarantee Co., the average transaction price in Vail Village is $3.16 million. Buyers w ill find a mix of fractional, older and new condominiums, and single-family homes in the Village and surrounding neighborhoods, but they w on't find an abundance of ski-in/ski-out properties. The premier properties that offer coveted ski-in/ski-out status can be found on Forest and Beaver Dam Roads. Recently, a home on Forest sold for $14 million only to be torn dow n to make w ay for a new more modern residence. A finished 8,300-square-foot estate-like home on Forest w ith a indoor pool and private guest house is currently on the market for $14.5 million. W hile the convenience of ski-in/ski-out is enticing, more affordable options exist off the slopes and outside the village. "In the neighborhoods of East and West Vail, you can get homes in the $500,000 to $1 million range," explains Mark Gordon w ith Ascent Sotheby's International Realty. W ith the money saved on the purchase price, Gordon says that many buyers are purchasing memberships at one of Vail's Signature Clubs such as the Arrabelle Club or the Vail Mountain Club. Both offer slope-side locations, valet parking, ski lockers, concierge service, spa and fitness amenities, and complimentary breakfast. For vacation home buyers w ho crave the five-star resort experience and the stability and service of a respected hospitality brand, Vail offers tw o notable brands. Both the Four Seasons and the Ritz Carlton offer w hole ow nership and fractional ow nership options, offering buyers tw o very different price points. For example, living at the Four Seasons, a five-star resort hotel that's w alking distance to the slopes can cost betw een $2.7 to $14.5 million or $303,000 to $534,000 for a 1/12th deeded share in a residence that allow s access to all the hotel's amenities as w ell as exchange privileges at other Four Seasons Club locations. Mountain/Ski Vacation Homes Discovering McCall, Idaho Finding Your Place in Park City, UT Aspen's Private Residence Clubs
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