Vail Resorts said it will commit $30M toward employee housing projects in towns such as Breckenridge, Vail and Avon; South Lake Tahoe and Truckee in California; and Park City in Utah. Worker housing is in exceedingly short supply in those areas, as their booming tourism economy creates new jobs but not places to live. Vail pledged its own land, plus cash and long-term lease guarantees, to help municipal projects secure financing and get projects rolling, the Denver Post reports. Vail Resorts owns and manages about 3,200 beds around its various resorts, but it isn't enough to meet demand. [DP]
Vail Resorts Ponies Up $30M to Spur Worker Housing Development
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