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One Willow Bridge Road Development Announced

Publication: The Daily Journal; Date: 04/12/2004

by Diana Murphy

Daedalus Real Estate Advisors LLC has announced the purchase of property in the center of Vail Village with plans to build one of the first major redevelopment projects in the renaissance of Vail Village.

One Willow Bridge Road will offer 23 units for ownership, including 13 exclusive fractional and 10 full ownership units with underground parking, private dining facilities and commercial retail space at 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 on April 19, 2004. The Swiss Chalet restaurant will move to a new location 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. Demolition of the Swiss building will take place in June 2004 followed immediately by construction of the new improvements beginning in August 2004, and scheduled for completion in December 2005.

Development financing is in place and a formal groundbreaking and commencement of pre-construction marketing and sales is scheduled for early July.

The existing Sonnenalp Resort will also be expanded after 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 Vail, unveiled at the town's annual meeting on March 18. The One Willow Bridge Road project is intended to meet Vail's diverse redevelopment requirements and planning needs.

A State of the Art Community

One Willow Bridge Road will include 23 units, 13 offered as fractional ownership units for a total of 107 shares. Eight units will offer a one-ninth ownership; five will offer a premium one-seventh 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 scenic valley views. New retail stores will line the East Meadow Drive frontage of the project.

Project highlights include:

  • A central location in Vail Village with Gore Creek frontage and immediate pedestrian access to dining, shopping and skiing.

  • A private lounge and dining room on the ground floor for members and guests.

  • Private swimming pool and whirlpool overlooking Gore Creek on a landscaped rear yard with patio and outdoor fireplace.

  • European exterior and interior design incorporated into high-quality new construction.

  • Private heated and reserved underground parking with direct elevator access to every floor.

  • Advanced electronics and communications facilities.

  • State-of-the-art climate control and security systems.

  • Fireplaces, gourmet kitchens and designer bathrooms in each unit.

  • Access to amenities and member services exclusively provided by the Sonnenalp Resort.

  • Concierge, food and beverage and housekeeping services with personalized attention.

  • Resort spa and private golf club access with preferred rates and reservation privileges.

  • On-mountain ski and boot storage lockers, plus personal storage facilities, including set-up and pack-away service.

  • Private events, exclusive offers and other unique features expected of an elite club residence community.

  • Flexible living schedules for owners of fractional shares.

Economic Impact

One Willow Bridge Road is the first project to be finalized as part of Vail's redevelopment initiative with privately funded improvements totaling over $1 billion in the years leading up to 2008. Vail Village streetscape improvements will include snowmelt surfacing, site lighting and furnishing, retaining walls, landscaping and public improvements totaling $50 to 60 million. Sonnenalp Resort will be the exclusive manager of One Willow Bridge Road.

For more information, go to www.onewillowbridge.com.

Development Summary

Project: 23 residences, including 107 factional ownership shares and 10 full ownership units; 5,500 sq ft of new commercial retail space; underground parking garage.
Owner: Vail Dover Associates LLC, Phoenix
Developer: Daedalus Real Estate Advisors LLC, Phoenix
Architect: Resort Design Associates International, San Francisco and Boulder
Contractor: The Weitz Co. LLC, Denver and Frisco
Interior Design: Kate Bodenheimer Interior Design, Denver and Vail

Sales: Sonnenalp Real Estate, Vail
Management: Sonnenalp Resort, Vail

One Willow Bridge Road Project Timeline

April 19 2004: Swiss Hotel & Spa permanently closes
June 2004: Demolition of the Swiss Hotel & Spa
July 2004: Marketing and sales begin
August 2004: Groundbreaking and construction start of One Willow Bridge Road
December 2004: Parking structure for One Willow Bridge Road is complete
March 2005: Structural steel complete; building topping out
June 2005: Building exterior complete; interior construction begins
September 2005: Streetscape, hardscape and landscape construction start
October 2005: Furniture, fixtures and equipment installations begin
December 2005: Project complete; One Willow Bridge Road grand opening; owner move-in and occupancy

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