HUMPHREYS & PARTNERS ARCHITECTS, L.P.
5339 Alpha Road, Suite 300
Dallas, TX 75240
www.humphreys.com marketing@humphreys.com
FOR IMMEDIATE RELEASE Mark Humphreys, AIA, CEO
(972) 701-9636
(972) 701-9639 FAX
Humphreys & Partners Architects L.P.'s e-Max® Design
Centerpiece of Vail, Colo., Redevelopment Proposal
MAY 13, 2009 – DALLAS –Town officials in Vail, Colo., have begun exclusive negotiations with a Texas-based development team that includes Humphrey & Partners Architects L.P. for the redevelopment of critically needed affordable workforce housing to support its tourism industry.
In the final face-off, Vail Timber Ridge LLC was up against three other development teams and ultimately won exclusive negotiating rights with a 60-day window for the redevelopment and rebuilding of Timber Ridge Village, a 10-acre rental community developed in 1981 to house seasonal and permanent employees of local businesses. The Town of Vail paid $20 million in July 2003 to preserve the property's intent when the 20-year deed restriction for affordable housing was about to be lifted.
As Vail's largest employee housing complex, the 600-bed Timber Ridge Village at 1280 N. Frontage Rd. West fills a deep need in the ski village's internationally renowned tourism economy. Timber Ridge is master leased to Vail Resorts and other businesses and managed by Corum Real Estate of Vail.
Timber Ridge's redevelopment has been nearly five years in the making. An agreement is being hammered out for Vail Timber Ridge LLC to rebuild half of the existing 16-building project. The developer has proposed 619 beds as the replacement product, uniquely blending Humphreys & Partners Architects' "e-Max®" design with the mountain village ambiance in a varied mix of unit types and quality lifestyle amenities.
"The design team will focus on creating a complete living environment that provides residents with a well-balanced blend of privacy and sense of community," said Mark Humphreys, CEO of the award-winning architectural firm based in Dallas.
NOTE TO EDITORS:
Interested parties can request additional information about Humphreys & Partners Architects and its services by contacting the marketing department at marketing@humphreys.com or by visiting the company's website at www.humphreys.com.
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