New rental and ownership opportunities in Vail

The Timber Ridge redevelopment project from Triumph Development and the Town of Vail is a shining example of how public-private partnerships can effectively address the complex challenges of workforce housing and home ownership in our mountain communities. We have seen various approaches to solving the housing crisis. Still, the collaboration between the Town of Vail and private developers in this project, much like Eagle County’s work with Haymeadow in Eagle, stands out as a blueprint for future projects.

Eagle County and the Town of Vail, like many other resort communities (and increasingly, metropolitan and suburban areas), faces a critical shortage of affordable housing for its workforce. The Timber Ridge redevelopment is a direct response to this pressing need. By providing over 294 new affordable units, this project ensures that the people who keep our town running—teachers, hospitality workers, emergency personnel, and more—have a place to live within the community they serve. A minimum of 87 of these residences are reserved for individuals to purchase.

As with all deed-restricted housing in our valley, this isn't just about creating housing; it's about sustaining our community's vitality. When employees can live near their workplace, it reduces commuting times, lowers transportation costs, and increases job satisfaction. This, in turn, contributes to a more stable and engaged workforce, which is essential for the long-term health of our local economy.

What makes the Timber Ridge project particularly remarkable is the strong partnership between the Town of Vail and private developers. This collaboration ensures that the development aligns with the community's needs while leveraging the expertise and efficiency of the private sector.

The public sector, represented by the Town of Vail, played a crucial role in setting the vision for Timber Ridge. They identified the site, outlined the community's housing needs, and ensured that the development would prioritize long-term affordability and a mix of home ownership and rental units. The private sector, on the other hand, brought in the construction expertise and market knowledge to bring the project to life. This partnership allowed for a sharing of risks and rewards, making the project financially viable while maintaining a focus on community goals.

Timber Ridge also demonstrates the importance of thinking long-term. The inclusion of deed restrictions ensures that these units will remain available for future generations, protecting Vail's workforce housing stock from market pressures that could otherwise become vacation homes.

In addition to providing rental units, Timber Ridge is part of a broader strategy to promote home ownership among Vail's workforce. Homeownership is a critical step in building a stable, invested community. It gives residents a stake in the town's future and helps retain the local talent that Vail depends on.

The development includes opportunities for workforce members to transition from renters to homeowners, creating a path to homeownership that might otherwise be out of reach in such a high-cost area.

The Timber Ridge redevelopment is more than just a housing project; it's a testament to what can be achieved when the public and private sectors work together toward a common goal rather than fighting each other. Projects such as Timber Ridge help to ensure that Vail and Eagle County remains a thriving, inclusive community for years to come by addressing the immediate need for workforce housing while laying the groundwork for future home ownership.

Projects such as Timber Ridge help to ensure that Vail remains a thriving, inclusive community for years to come. Timber Ridge stands as a beacon of what can be accomplished through innovative collaboration and a shared commitment to community well-being.

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com