A three-person commission appointed by the Eagle County District Court has determined the value of the 23-acre Booth Heights property to be $17,519,985. The number represents $16,519,985 for Lot 1, the 5-acre housing parcel; and $1 million for Tract A, the 18-acre Natural Area Preservation parcel. The determination was the result of a five-day valuation hearing, followed by an additional five days of deliberations that took place as part of the process by which the Town of Vail may acquire the property through eminent domain.
If the town decides to proceed with the acquisition of the property, it will owe the value determined by the commission, and may also have to pay reasonable costs and attorney fees decided by the court. Funds are anticipated to come from a combination of Real Estate Transfer Tax dollars, capital project deferrals, town reserves, savings in the town’s General Fund, a potential donation from the Eagle County Open Space Fund, and private fundraising contributions.
The town may also decide not to acquire the property. In that case, the town would abandon the condemnation effort and return the property to Vail Resorts. Costs and fees could still be owed.
Located in East Vail on the north side of Interstate 70, between the Booth Creek and Pitkin Creek drainages, Booth Heights, which for decades was thought to belong to the Colorado Department of Transportation, is owned by Vail Resorts. The Town of Vail has determined the property is essential for the preservation of its open space, wildlife and natural resources. Specifically, the parcel has been identified as critical winter habitat to the Vail bighorn sheep herd, one of the last two remaining native herds in Colorado. State wildlife experts have determined that development on this site would threaten the survival of this herd.
Starting in 2020, the town attempted to acquire the Booth Heights parcel voluntarily through multiple offers and options to relocate the homes proposed on the site. The $35 million Residences at Main Vail development, which is comprised of 72 deed-restricted rental homes at the main entrance to Vail, opened earlier this month. The development was originally conceived with input from Vail Resorts before they withdrew their participation, and was built as an intended replacement for the Booth Heights project.
In the spring of 2022, the town council voted to acquire the Booth Heights property through eminent domain. Since then, continued negotiations throughout the condemnation process have not resulted in an agreement.
