DEED RESTRICTIONS PUT INTO PLACE IN VAIL!
Late, last year, the Vail Town Council put deed-restrictions in place for almost 100 units; kick-starting the Vail 2027 Housing Plan that envisions putting deed-restrictions on 1,000 units over the next decade.
The first part of the plan included working with Sonnenalp Properties in a public/private scenario to help ease the employee housing crisis. However, even though the concept was lauded throughout the community, the deal has put a severe strain on the Town’s availability for buying deed-restriction; draining Vail’s funds for the proposal and causing the necessity of utilizing funds from other Town accounts.
Hopefully, this first “deal” will create more deed restriction purchases and even more public/private partnerships in the future. To find out more about this particular Housing Plan: https://www.vaildaily.com/news/vail-town-council-approves-deal-to-deed-restrict-65-new-apartments-in-town/