The Vail Town Council is taking another step forward towards achieving the Vail 2027 Housing Plan goal of acquiring 1,000 new deed restrictions by 2027. At its Tuesday, Dec. 5 evening meeting, the Council will consider a resolution to purchase a one-bedroom, one-bath 634 square foot condominium in the Altair Vail Inn, located at 4192 Spruce Way in East Vail.
The Town Council is being asked to approve the use of the town’s Housing Funds to purchase the home. The town’s housing staff was approached by the current owner to inquire whether the town had an interest in purchasing the home. The current owner, a long-time resident, was interested in assuring the home would remain available for a local resident. In the end, if purchased, the Vail Local Housing Authority is recommending a deed restriction be placed on the home to meet the current owner’s interest.
If purchased, the town will take possession of the home after the first of the year. According to Steve Lindstrom, chairman of the Vail Local Housing Authority, “the purchase of this home further preserves and protects an existing home in Vail for a local resident to live.” Preserving and protecting existing homes for local residents has been identified as a way for the town to meet its housing goal without having to build new homes elsewhere in town or increase density in existing neighborhoods.
For more information, contact George Ruther, Community Development director, at 970-479-2145.