Vail to Borrow Muni Debt to Ease Ski Resort Town Housing Crunch

The ski-centric town of Vail, Colorado, is borrowing to help ease a growing housing shortage that threatens the workforce supporting its resort economy.

Vail Home Partners, a nonprofit entity formed by the town council alongside the Vail Local Housing Authority, will issue $118 million in revenue bonds to fund construction of West Middle Creek, a new rental development. The town also plans to sell roughly $74 million of debt and contribute $10 million in cash, according to bond documents.