Daedalus Plans $100M Development in
Vail Village
Publication: GlobeSt.Com; Date:
04/07/2004
By John Rebchook
VAIL, CO-Phoenix-based Daedalus Real
Estate Advisors LLC has paid about $14 million for
a site in the heart of Vail Village that includes
the Swiss Hotel & Spa. The resort hotel will be
closed on April 19 and be demolished starting in June
to make way for 23 new luxury condominiums Daedalus
will develop at the corner of East Meadow Drive and
Willow Bridge Road.
The condominium project will be in
a 90,000-sf, four-story building. Units will range
from 1,600 sf to 2,700 sf and 10 of them will be priced
from $4 million to $7 million each. Thirteen of the
units will be sold as fractional ownership, which
is a type of timesharing. The development is so lavish
it will even include heated, underground parking.
The completed value of the project, which will include
a private swimming pool and whirlpool overlooking
the Gore Range, is estimated at about $100 million.
The project, to be completed in December
2005, is called One Willow Bridge Road. It is one
of the first major projects in the town's $1-billion
redevelopment plans.
The popular Swiss Chalet restaurant
in the hotel will be relocated to another site in
Vail Village by its owners, Sonnenalp Resort.
The existing Sonnenalp Resort will
also be expanded following the completion of the One
Willow Bridge Road.
The Sonnenalp will add 38 new hotel
rooms, expand existing dining room facilities, renovate
and expand the combined spa and add underground parking
in a second phase of the redevelopment.
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