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Vail Resorts Revises Development Plan, Cost Estimate Now Carries $500 Mil Ceiling

BRECKENRIDGE, CO-Vail Resorts Development Co. has revised development plans for the nation's leading ski destination. The plan, not to exceed $500 million, goes from 35 home sites to mixed use.

By John Rebchook | Updated on September 10, 2000

BRECKENRIDGE, CO-Vail Resorts Development Co. has unveiled new plans for mountain redevelopment of two popular skiing peaks, estimated to cost up to $500 million, at its Breckenridge ski resort.

The announced development is a revised version of its initial plans on property abutting Peaks 7 and 8 and the Watson parking lot in the historical town of Breckenridge, located 60 miles west of Denver. Publicly traded Vail Resorts has abandoned a $500,000 plan to develop 33 home sites in an environmentally sensitive area known as Cucumber Gulch, preserving the land as wetlands and a wildlife habitat. Still, the plan for Breckenridge – which for the past two ski seasons has been the nation’s most popular resort, booking nearly $1.5 million skier visits – is the biggest corporate initiative by VRDC. In the past three years, VRDC has pumped $100 million into improvements for Breckenridge, a former mining town.

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