#Breckenridge #Colorado
 |
| Summit Daily Photo |
Summit Daily Link
Breckenridge Town Council rejected a proposal Tuesday night that would have allowed developers to proceed with plans to build a branded, four-star luxury hotel at the base of Peak 8 at Breckenridge Ski Resort.
Council's biggest issues with the proposal, framed in a possible development agreement with the town, hinged on an unprecedented ask to move $5.2 million worth of density off open-space land and onto the parcel at the base of Peak 8.
Council members had problems gauging how a project of such magnitude might exacerbate the town’s already strained infrastructure, including the effect the hotel’s employees and guests could have on traffic, parking and housing, all of which have been hammered by recent growth.
Another concern was the landowner, Vail Resorts.
The project was set for 1599 Ski Hill Road, also known as the Breckenridge Ski Resort Administration Building, on land currently owned by Vail Resorts, which also owns Breckenridge Ski Resort.
In the deal, Vail Resorts would have sold the parcel to the developers, but still managed the hotel through its subsidiary, RockResorts, once built.
Because Vail Resorts owns parking lots in town with unused density attached to them, Breckenridge Mayor Eric Mamula had asked the development team, a joint venture between Breckenridge Grand Vacations and the Miami-based firm Lionheart Capital, if Vail Resorts would agree to move density from its parking lots to the base of Peak 8 to make the deal work.
The additional density would be needed to accommodate 110,000 square feet of wholly owned condos. Without them, the project was not financially viable, developers have told council.
On Tuesday night, the developers informed council that Vail Resorts was not agreeable to shifting the necessary density. When the time came to make a motion so council could vote on the proposed development agreement, no one did.
Instead, the elected officials took turns explaining why they couldn't support the development agreement. Without a motion, the proposal failed.
