Swiss Hotel Site in Vail Village To
Be Replaced By High-End Private
Residence Club
Vail, CO (Wednesday, April 7, 2004)
- Daedalus Real Estate Advisors, LLC on Monday announced
the purchase of property in the center of Vail Village
and plans for construction of one of the first major
redevelopment projects in the renaissance of Vail
Village.
One Willow Bridge Road will offer
a total of 23 units for ownership, including 13 exclusive
fractional and 10 full ownership units with underground
parking, private dining facilities and commercial
retail space on the location of the existing Swiss
Hotel & Spa at the corner of East Meadow Drive and
Willow Bridge Road.
The Swiss Hotel & Spa will discontinue
hotel, restaurant and spa operations as of the close
of business on April 19, 2004. The popular Swiss Chalet
restaurant will be relocated soon to a new spot in
Vail Village to be announced by its owner, Sonnenalp
Resort. The Swiss Hotel & Spa will be relocated into
expanded spa facilities in the adjacent Sonnenalp
Resort. Deconstruction of the Swiss building will
take place in June 2004 followed immediately by construction
of the new improvements commencing in August 2004,
and scheduled for completion in December 2005.
Development financing is in place
and a formal groundbreaking ceremony and commencement
of pre-construction marketing and sales reservation
activity by Sonnenalp Real Estate is scheduled for
early July.
The existing Sonnenalp Resort will
also be expanded following the completion of the One
Willow Bridge Road project. The Sonnenalp will add
38 new hotel suites, expand existing dining room facilities,
renovate and expand the combined spa and add underground
parking in a second phase of the redevelopment. Plans
were approved by the Vail Town Council in late 2003.
The project signals a major advance
in the $1 billion renaissance of the Town of Vail,
which was unveiled at the Town's annual meeting, held
March 18, 2004. Vail Village streetscape improvements
will include snowmelt surfacing, site lighting and
furnishing, retaining walls, landscaping and public
improvements totaling $50-60 million by 2008.
"One Willow Bridge Road is one of
the first new major building projects to take place
in Vail Village. It sets the tone for the quality
construction and design integrity Vail is known for.
The developer has worked well through the town approval
process and knows how to build world-class facilities.
We are fortunate to have them involved as a catalyst
for Vail's revitalization," said Stan Zemler, Vail
Town Manager.
One Willow Bridge Road will include
23 units, 13 of which will be offered as fractional
ownership units for a total of 107 shares. Eight units
will offer a 1/9th ownership; five will offer a premium
1/7th ownership. The fractional units will be located
on the first, second and third floors of the four-story
development. The full ownership units will be located
on the second, third and fourth floor penthouse levels.
Most units will feature three and four bedroom floor
plans and each will have ski mountain and valley views.
New retail stores will line the East Meadow Drive
frontage of the project.
The Sonnenalp Resort will manage One
Willow Bridge Road. Members of the residence club
will have access to all facilities of the Sonnenalp
Resort.
"The Sonnenalp hotel has been in our
family for four generations and it is our commitment
to a quality experience that has kept our loyal guests
returning year after year," said Johannes Faessler,
owner and general manager of Sonnenalp Resort in Vail.
"The addition of One Willow Bridge Road residences
will provide a small group of select individuals the
opportunity to enjoy the Sonnenalp Resort experience
in a unique way -- the benefits of private ownership
as well as resort guest access to our exclusive spa,
golf course and restaurants. We look forward to this
partnership and sharing the Sonnenalp in a new way,
with a new audience."
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