Following the most recent annual HOA meeting there was some confusion about the structure of the organizations that inhabit the space of the Willows world. Below is a breakdown of the entities that operated formerly in the Willows and that now operate to run the building. The story begins when Vail was less than 10 years old as one of the earlier developments in the village core in a building that was constructed by Bob Lazier (of Tivoli fame).
The original Willows building was built in 1970 and consisted of 28 one bedroom condominium units. Early on, the owners devised a system to pool rentals and share expenses equally, and operated as an entity called Willows Condominiums at Vail Inc. This arrangement allowed for condominium assessments to be covered from rental income and owners would get a distribution annually dependent upon the profits generated over the year's operation.
Sometime in the mid-1980's Riva Ridge South owners, who were unhappy with their management, which was handled by the Lodge at Vail, approached Marijke Brofos (Willows General Manager) about taking over the building management and also the management of the rental units in the building. At that time the Willows Management Limited Partnership was created, a partnership that was comprised of the 28 owners of the Willows Condominium units. The shared goal of the two properties was to create a successful management program. For Riva Ridge South that would mean no longer playing second fiddle to the Lodge units when it came to reservations, and for the Willows it allowed additional revenue which could be used for a larger staff to cover daily maid service and other hotel style operations.
Fast forward to 2007 and the old Willows building was aging and there were particular concerns for the pre-stressed concrete parking garage at the rear of the building. The owners considered choices for replacement or a full redevelopment of the site and chose to partner with Triumph Development to eventually redevelop the site. The new building, delivered in the fall of 2008, would contain nine fractional two bedroom units and the old owners would resume ownership in these units with deeded quarter share holdings. These units continue to be run very closely along the lines of the old Willows, with owners sharing revenues and expenses under an entity called Willows Quartershare Condominium Owners LLC.
The new building would also have nine whole ownership units. These units were sold to cover the cost of the building redevelopment. Those new owners combined with the nine quarter share units to form an entity known as Willows at Vail Condominium Homeowners Association. This is the "traditional" condominium HOA that is tasked with administering the building. As part of the development agreement the Willows Management Company would be responsible for the building and take care of rentals for any whole owners wishing to rent their units. The HOA contracts with Willows Management who employ all the staff it takes to cover the needs of the building and the rental operations that take place both in the Willows at at Riva Ridge.
I hope that this shines some light on both the background of our building and the adjustments that were made over the last 50 years or so.
The original Willows building was built in 1970 and consisted of 28 one bedroom condominium units. Early on, the owners devised a system to pool rentals and share expenses equally, and operated as an entity called Willows Condominiums at Vail Inc. This arrangement allowed for condominium assessments to be covered from rental income and owners would get a distribution annually dependent upon the profits generated over the year's operation.
Sometime in the mid-1980's Riva Ridge South owners, who were unhappy with their management, which was handled by the Lodge at Vail, approached Marijke Brofos (Willows General Manager) about taking over the building management and also the management of the rental units in the building. At that time the Willows Management Limited Partnership was created, a partnership that was comprised of the 28 owners of the Willows Condominium units. The shared goal of the two properties was to create a successful management program. For Riva Ridge South that would mean no longer playing second fiddle to the Lodge units when it came to reservations, and for the Willows it allowed additional revenue which could be used for a larger staff to cover daily maid service and other hotel style operations.
Fast forward to 2007 and the old Willows building was aging and there were particular concerns for the pre-stressed concrete parking garage at the rear of the building. The owners considered choices for replacement or a full redevelopment of the site and chose to partner with Triumph Development to eventually redevelop the site. The new building, delivered in the fall of 2008, would contain nine fractional two bedroom units and the old owners would resume ownership in these units with deeded quarter share holdings. These units continue to be run very closely along the lines of the old Willows, with owners sharing revenues and expenses under an entity called Willows Quartershare Condominium Owners LLC.
The new building would also have nine whole ownership units. These units were sold to cover the cost of the building redevelopment. Those new owners combined with the nine quarter share units to form an entity known as Willows at Vail Condominium Homeowners Association. This is the "traditional" condominium HOA that is tasked with administering the building. As part of the development agreement the Willows Management Company would be responsible for the building and take care of rentals for any whole owners wishing to rent their units. The HOA contracts with Willows Management who employ all the staff it takes to cover the needs of the building and the rental operations that take place both in the Willows at at Riva Ridge.
I hope that this shines some light on both the background of our building and the adjustments that were made over the last 50 years or so.
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