Preliminary plans for the 4-star hotel in Breckenridge will consist of 150 units in which 50-60 of them will be individually owned residential condos.
This preliminary plan was presented by Breckenridge Grand Vacations (BVG) at last week’s town council work session meeting in Breckenridge.
Breckenridge Grand Vacations is one leg of a three-way development agreement with Lionheart Capital and Vail Resorts.
When pitching the idea to town council, BGV chief operating officer explained that Lionheart Capital has the experience in building luxury hotels in resort markets on a large-scale. Vail Resorts owns the land and BGV has longstanding community relationships and a wealth of local know-how.
BGV explained as they finish building the Grand Colorado on Peak 8 during the next few years, the proposed new 4-star hotel construction could correlate with Grand Colorado’s construction as they are located just a few blocks from one-another.
4-star Hotel in Breckenridge Will Be Different
The new 4-star hotel in Breckenridge will not be a timeshare opportunity like all other BGV properties. In order for this project to move forward a little over 100,000 square feet of residential condos will be required. This means additional density will need to be added to this parcel of land.
In Breckenridge (and all of Summit County) properties are zoned for a certain level of density. A developer can request additional density but it must be approved by town council or the town’s planning commission.
Last weeks presentation was purely informational and no action was taken. If the 4-star hotel in Breckenridge at the base of Peak 8 is to be approved, it would be similar to a Ritz-Carlton, JW Marriott or Hilton and unlike anything that currently exists in Breckenridge.
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