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.