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By Kim Fredericks, About.com Guide

Vail Offers a Diverse Collection of Real Estate

vail hotels vail ski home rentals vail resort

A Village of Real Estate Opportunities in Vail:

In 2011, Vail completed a multi-billion-dollar renovation of itsEuropean style village. The project replaced older buildings w ithnew hotels and residential projects, connecting them all w ithcohesive landscaping and lighting, heated sidewalks that meltaway w inter snow, and a recreation path that comes alive w ithrunners, dog walkers, and bikers during the summer.

Dubbed “VailRenaissance,” the projectdebuted several new residential resort projects,most notably, The Ritz-Carlton Residences, FourSeasons Hotel and Residences, Arrabelle at VailSquare Hotel and Residences, and Solaris, a mixed-used development that combines retail and luxuryresidences.

The spiffing up of Vail elevated the resort'sreputation to one that's now on par w ith competingluxury resorts such as Deer Valley, Sun Valley, andAspen. While Vail's new ly coiffed image boosts itscache, the resort still has work to do as it plans forthe future.

Celebrating 50 Years:

This season Vail celebrates it's 50th Anniversary,commemorating the milestone w ith the opening of anew gondola w ith w i-fi and heated seats, a new on-

mountain restaurant, special 50th birthday concerts and events, anniversary headquarters atWelcome Centers, and a birthday bash on December 15th, complete w ith fireworks. When thiscelebration is over, Vail can look forward to two other major events. The US OpenSnowboarding Championships, the longest running snowboarding championship in the world,moves to Vail starting in 2013. In 2015, the world's best skiers come to Vail to compete in theWorld Alpine Ski Championships.

Vail's Roots:

Unlike former mining towns turned ski resorts, like Park City and Aspen, Vail was built from theground up. Fashioned on the architectural styles of Sw itzerland's Zermatt, Vail was developedquickly, 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 planthat lacked style and a town gathering place.

With the completion of Solaris, Vail Village received its center. The project also added a touchof contemporary flair to Vail's Bavarian village, characterized by a signature clock tower,terraced buildings, and hand-painted signs. Designed by Barnes Coy Architects, Solaris' nine-story log-and-timber design wraps around a public plaza w ith an ice skating rink.

During the summer the ice rink serves as a greatlawn, hosting major events such as the TevaMountain Games. It's mix of retail and restaurantsdraws skiers from the slopes into establishmentssuch as Matsuhisa, a chic sushi haven, Bol, anurban-style 10-lane bowling alley and restaurant,and trendy Cinebistro, a luxury movie theater w ith

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More Images (2)

Ice skating at Arrabelle inVail Square.

Photo courtesey of JackAffleck, Vail Resorts

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and trendy Cinebistro, a luxury movie theater w ithreserved seating and a full bar and restaurant.

Vail's Residential Options:

Owning a home close to the largest ski resort in the United States comes at a price. Accordingto 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 inthe Village and surrounding neighborhoods, but they won't find an abundance of ski-in/ski-outproperties.

The premier properties that offer coveted ski-in/ski-out status can be found on Forest andBeaver Dam Roads. Recently, a home on Forest sold for $14 million only to be torn down tomake way for a new more modern residence. A finished 8,300-square-foot estate-like homeon Forest w ith a indoor pool and private guest house is currently on the market for $14.5million.

While the convenience of ski-in/ski-out is enticing, more affordable options exist off the slopesand outside the village. "In the neighborhoods of East and West Vail, you can get homes inthe $500,000 to $1 million range," explains Mark Gordon w ith Ascent Sotheby's InternationalRealty. W ith the money saved on the purchase price, Gordon says that many buyers arepurchasing memberships at one of Vail's Signature Clubs such as the Arrabelle Club or the VailMountain Club. Both offer slope-side locations, valet parking, ski lockers, concierge service,spa and fitness amenities, and complimentary breakfast.

For vacation home buyers who crave the five-star resort experience and the stability andservice of a respected hospitality brand, Vail offers two notable brands. Both the FourSeasons and the Ritz Carlton offer whole ownership and fractional ownership options, offeringbuyers two very different price points. For example, living at the Four Seasons, a five-starresort hotel that's walking distance to the slopes can cost between $2.7 to $14.5 million or$303,000 to $534,000 for a 1/12th deeded share in a residence that allows access to all thehotel's amenities as well as exchange privileges at other Four Seasons Club locations.

Kim FredericksVacation Homes Guide

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