Vail Valley Real Estate Blog

The land which well known developer Bobby Ginn owns just west of Vail Colorado received approval to be included into the town of Minturn. Ginn wants to build 1700 homes and condominiums, a private golf course and a private ski resort.  While there will be one more final vote sometime this year to approve or deny the entire project, this was a huge step for the Ginn Company. This will be the largest new ski resort in Colorado and will get a lot of attention from the high end buyers.

The town will benefit from Ginn’s project by getting such things as sidewalks on both sides of Highway 24, a paved bike path, a scholarship fund for Minturn residents, employee housing, a recreation center and cleanup of some contaminated waste areas.

Minturn will also receive $6 million in tax revenue the second year after the project is approved, and $6-$10 million each year thereafter for five years; payment for what the residents are going to have to deal with as far as traffic and development.

While it appears that Ginn is well on his way to building his private resort, the final vote is not in and there some Minturn residents that do not feel this should be approved. There are always people want no change and there are those who want only positive change according their standards and this project will test both those philosophies. The final vote will decide what is in store for the small mining town. There seems really very little to stop this from coming to be and it will be very interesting to see how it affects the Vail Valley and the Real Estate market in general.