Eagle County Explores Purchase of 87 Fox Hollow Units to Preserve Community Housing

Eagle County is taking the first step toward purchasing the 87-unit Fox Hollow development in Edwards, a property currently split between Vail Health (27 units) and Breckenridge Grand Vacations (60 units) that was listed for sale last fall. The Eagle County Board of Commissioners, acting as the Housing and Development Authority, approved a non-binding letter of intent with the sellers.

The county’s plan would purchase the entire property, currently estimated at $69 million, and master lease all 87 units back to Vail Health for 30 years, with Vail Health employees continuing to live there at current rent levels. The deal would be financed through bonds, with Vail Health’s rent payments covering annual bond costs.

“We are looking at this as deploying a lot of the housing authority’s tools, but no out of pocket dollars,” said Tori Franks, the county’s resiliency director.

For Vail Health employees, little would change day-to-day, but the purchase would provide long-term housing security. With the property currently on the open market, those units could otherwise be sold to a private buyer with no obligation to keep them as workforce housing. Of the 87 units, 44 are currently deed restricted, and a full county purchase would allow restrictions to be placed on the remaining 43 as well, keeping them in the affordable pool for the long term.

If all goes smoothly, the county plans to close on Fox Hollow in August or September, with additional public meetings planned before then.

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