Vail Resorts Announces Affordable Employee Housing Investments for Park City Mountain, Whistler Blackcomb, Vail Mountain, and Okemo Mountain Resort
The new investments will increase the company's affordable housing by over 10 percent and align with
"Our employees are at the core of our mission to create an Experience of a Lifetime," Lynch said. "Bringing our mission to life for our guests starts by creating it for our employees, and affordable housing is an essential part of that. As our mountain communities have grown, affordable housing has become increasingly more difficult for our employees to access – addressing this must be a top priority for our company and our communities. These projects reflect progress on our commitment and we remain focused on aggressively pursuing more opportunities in our resort communities."
Park City Mountain Resort, Vail Resortshas entered into a five-year lease with Columbus Pacific Developmentwhich will providean additional 441 employees with access to affordable housing in the new Canyons Village Employee Housing Development. It is located in the Canyons Lower Villageadjacent to the Cabriolet lift and the Canyons Village Transit Hub. The long-term company lease begins with the 2022/23 season and has two five-year renewal options. The development is part of a public-private partnership between Canyons Village Management Association, Columbus Pacific, and Summit County, Utah.
Whistler Blackcomb, the company is pursuing the new Glacier 8 employee housing development, alongside the Resort Municipality of Whistler, which will provide an additional 240 employees with access to affordable housing. Glacier 8 will be located on Blackcomb Mountain, with easy access to Blackcomb and Whistler lifts. As a part of the investment, Vail Resortshas committed $1 millionCAD to enhance transit service to the site. The development is slated for a final Town Councilvote this spring, and with approval, will move directly into the permitting and RFP process. Construction commencement is dependent on building permit issuance, which is anticipated by spring of 2023. .
Vail Mountain, the company is pleased to move forward with the construction of workforce housing on the land Vail Resortsowns in East Vail, which will provide 165 employees with affordable housing. Vail Resortswill invest approximately $17 millionin the project as the company seeks to address the scarcity of affordable housing in the Town of Vail. This project was approved by the Town of Vailin October 2019after an extensive planning and environmental review, including a wildlife study performed with input from Colorado Parks and Wildlife. The approval was upheld by the district court in October 2020. Construction was then delayed due to the COVID-19 pandemic. The company looks forward to proceeding this summer with this essential project, which is expected to be complete by December 2023.
Okemo Mountain Resort, Vail Resortsis now under contract to purchase an existing property in Ludlow, Vermont, that will provide more than 30 employees with affordable housing. This $1 millioninvestment will provide long-term sustainable housing for employees and is just one mile from the resort. The purchase is subject to due diligence and expected to close in April.
In addition, earlier this season, the company invested in incremental affordable housing at
These affordable employee housing investments are in addition to the incremental
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