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Related WestPac Receives Approvals to Breakground on the 236 unit
Viceroy Snowmass at Snowmass Base Village; Ski-in/ski-out Property
to be Operated by Kor Hotel Group


One of the First LEED-Certified Silver Hotels in North America
 
SNOWMASS, Colo. (Oct. 1, 2007) - Related WestPac and Kor Hotel Group announced today that Viceroy Snowmass will be built as the anchor hotel to Snowmass' new base village.  The groundbreaking will take place this fall, and Viceroy Snowmass is slated to open in early winter 2009/2010.  Related WestPac, which purchased the Snowmass base village project from Aspen Skiing Company and Intrawest in March 2007, has designed Viceroy Snowmass to be one of the first LEED-certified silver hotels in North America.  Located just minutes from Aspen Mountain at the base of Snowmass' Assay Hill lift, Viceroy Snowmass is set to be a ski-in/ski-out property, currently approved as a 236-unit condominium hotel.  
 
Viceroy Snowmass will be operated by Kor Hotel Group, the Los Angeles-based hotel operator, manager and owner of the Viceroy Resorts & Residences brand. The Viceroy brand offers luxurious and modern amenities, unique eco-friendly design and an energetic atmosphere in unforgettable locations. Every Viceroy destination re-imagines the essence of style and service, and inspires discriminating guests and residents to indulge in glamour, reinterpret cultural traditions, and redefine their notions of luxury. Current Viceroy properties include Viceroy Santa Monica and Viceroy Palm Springs. Under development are Viceroy Miami at Icon Brickell, Viceroy Riviera Maya at Mayakoba on Mexico's Yucatan Peninsula and Viceroy Snowmass in Colorado, as well as Kor's initial overseas venture, Viceroy Anguilla in the British West Indies. Viceroyhotelsandresorts.com is the official launch site for Viceroy hotels and resorts.
 
"We are proud that Kor Hotel Group has chosen Snowmass, Colorado for its latest Viceroy venture and thrilled to be developing one of the first LEED silver hotels in the nation. Snowmass has a tremendous legacy built on its breathtaking natural beauty and striving for the ambitious silver certification will play a key role in the creation of the preeminent multi-season resort community and one of the globe's most environmentally respectful destinations" said Patrick N. Smith, president of Related WestPac.
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Preliminary Rendering - Viceroy Snowmass
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Viceroy Snowmass will offer its guests uncompromising  mountain resort amenities and service including a 7,000 square-foot spa, fitness center, year-round swimming pool, a kids club, a business center, casual and fine dining, flexible conference space, and ski valet facilities.
 
"We're excited to be developing our first mountain resort in Snowmass, Colorado," said Brad Korzen, CEO of Kor Hotel Group. "Snowmass appeals to a sophisticated national and international clientele, but presently the area offers no design-savvy properties with high-end amenities that speak to the level of service consumers anticipate. Our Viceroy luxury product will fulfill that need."
 
The new $1 billion development at the Snowmass Base Village will include more than one million square feet of residential, hotel, restaurant, retail and conference space, all strategically located at the base of what is arguably the finest ski and snowboard mountains in the world and only minutes from the center of Aspen and the base of Aspen Mountain. Upon completion, the development will include 346 condominiums, 64,000 square feet of shops, cafes, pubs and restaurants, 15,000 square feet of conference space, the 236-unit Viceroy hotel, The Little Nell Snowmass, an aquatic center and much more.
 
Sustainable Development

Related WestPac is proud to be part of a ground-breaking program to create one of the world¡¯s most sustainable neighborhoods and have Snowmass set a new standard for environmental excellence in the development and hospitality industries. Related WestPac will not only meet the guidelines of the new neighborhood LEED program, it will go a step beyond and individually LEED certify each new building going forward.
 
In August, Related WestPac announced an initial series of initiatives to promote environmental sustainability throughout the design, construction and operational practices of the 80-acre Snowmass development. Related WestPac has also partnered with the acclaimed Rocky Mountain Institute (www.rmi.org) to pursue innovative sustainability solutions. 
 

Related WestPac Bold Series of Sustainability Initiatives

August 9, 2007 - Related WestPac today announced an initial series of sustainability initiatives that will create a cleaner, greener environment throughout the Snowmass Village redevelopment. Related WestPac detailed their efforts at a luncheon with Town of Snowmass Village Mayor Doug (Merc) Mercatoris and Councilman John Wilkinson, which celebrated their collaborative commitment to environmental sustainability. They were joined by President and CEO of the U.S. Green Building Council S. Richard Fedrizzi and former New York Governor George E. Pataki.

Related WestPac is currently developing 80 acres comprised of residential units, world-class hotels, retail, entertainment and restaurant amenities surrounding the renowned ski area in Snowmass Village, Colorado. The first stage of sustainabilityinitiatives includes eight signature elements:

  • Partnership with celebrated Rocky Mountain Institute to pursue innovative sustainability solutions;
  • participation in the new LEED (Leadership in Energy and Environmental Design) for Neighborhood Development Pilot Program;
  • LEED certification for all buildings going forward;
  • LEED silver certification of Base Village Hotel site;
  • siting of new carbon-free renewable energy sources;
  • cleaner construction practices and traffic reduction initiatives that will improve air quality and minimize environmental impacts;
  • appointment of a Sustainability Specialist--a new dedicated senior official to ensure sustainable design implementation and to create and employ further sustainability efforts; and
  • formation of a Sustainability Stewardship Committee led by Town of Snowmass Village and the community in partnership with all present and future stakeholders including Related WestPac and Aspen Skiing Company to expand and compound sustainability efforts.
Pat Smith, President of Related WestPac said, “When our buildings are constructed in a manner that is respectful of the surrounding built and natural environment, the overall fabric of our community is enhanced. The cleanest energy is the energy we don’t use. In partnership with Rocky Mountain Institute, we will aggressively pursue the most efficient use of energy as well as the cleanest renewable resources available including carbon neutral technologies, biofuels and solar-based energy. As part of the Snowmass community, we have an opportunity and an obligation to shape its future through ingenuity and innovation. In collaboration with the Town of Snowmass Village and Aspen Skiing Company we will help build a stronger brighter future for our community.”

Jeff Blau, President of Related Companies said, “Snowmass Village has a tremendous heritage built on its awe-inspiring natural beauty and unique geographic, historic and cultural elements. The initiatives we announce today will be just the beginning of our long-term commitment to create a new model of community living anchored in sustainability. Throughout the redevelopment, we will embrace innovative technologies and constantly push the boundaries of clean, green progress. Simply put, sustainability is about seeking a better quality of life for everyone.”
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Left to Right: Pat Smith, President of Westpac. George E. Pataki, Former New York Governor. Douglas Mercatoris, Snowmass Village Mayor. Jeff T. Blau, President of Related.
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Partnership with Rocky Mountain Institute on Innovative Sustainability Solutions

Related WestPac announced that it has partnered with the widely acclaimed Rocky Mountain Institute (RMI) to pursue innovative sustainability solutions.

Michael Potts, CEO of the Rocky Mountain Institute said, “RMI is delighted to have this opportunity to work with Related WestPac to create an exemplary climate responsive development in this unique market and region.”

RMI fosters the efficient and restorative use of resources to create a more secure, prosperous and life-sustaining world. Celebrating its 25th anniversary of challenging conventional thinking and leading the field in cutting-edge research, RMI is a not-for-profit “think and do tank” that works with individuals and organizations of every imaginable kind to help them use energy and resources efficiently while served as ever-better stewards of the environment.

RMI has previously partnered with Wal-Mart on efforts to double the fuel efficiency of its trucking fleet, and to cut energy use in its stores, served as lead technical advisor on the energy and environmental retrofit of the White House and assisted Lucasfilm in developing sustainable strategies for a 900,000-square-foot film complex at the Presidio.

LEED for Neighborhood Development

Related WestPac is proud to participate in the new LEED for Neighborhood Development Pilot Program. The LEED for Neighborhood Development rating system is the first national standard for neighborhood design and integrates the principles of smart growth, new urbanism and green building. The LEED for Neighborhood Development is a collaboration among the U.S. Green Building Council (USGBC), the Congress for the New Urbanism (CNU) and the Natural Resources Defense Council (NRDC).

Rick Fedrizzi, President, CEO & Founding Chair, U.S. Green Building Council said, “By using the LEED for Neighborhood Development program as a planning tool, Related WestPac’s redevelopment of Snowmass Village will have a tangible impact on the environment and on the community. LEED for Neighborhood Development encourages a healthier lifestyle, which is an essential element of a healthy community. The LEED for Neighborhood program will also enable communities to make efficient use of our natural resources and make an immediate, positive impact on our planet.”

While Related WestPac pursues LEED for Neighborhood Development certification, it will also extend these efforts into every aspect of their continuing operations in Snowmass Village. In partnership with the Town of Snowmass Village and the Aspen Skiing Company, Related WestPac will continue to explore renewable energy sources, water reuse opportunities and carbon-neutral technologies to constantly build on their efforts.

LEED Silver Hotel, Certification for All Buildings Going Forward

The redevelopment plan has three distinct development sites: Base Village, Snowmass Center and West Village. Since closing on all three sites in March of this year, Related WestPac has undertaken an intensive review of the construction plans and design documents. Related WestPac announced today that it had revised design documents in Base Village to enable the hotel site (sites 13a and 13b) to achieve LEED Silver certification. Currently there are only five LEED certified
hotels in the nation, none of which are silver, and just over 30 hotel projects that are pursuing certification at any level. Related WestPac also committed that all buildings going forward will be LEED certified. Through smart water and energy saving design, the Base Village development alone will save the equivalent of 4,400 barrels of oil, 11.3 million gallons of water and 5,200 metric tons of carbon dioxide annually—the equivalent of providing energy for 240 homes, filling 25 Olympic-sized swimming pools and taking 950 cars off the road. These results will increase exponentially when the full redevelopment is achieved.

Siting of New Carbon-free Renewable Energy Sources

Also announced was the installation of a new 100,000 KWH microturbine along Brush Creek that will contribute to cleaner air and long term sustainability. This new carbon-free renewable energy source could likely power the equivalent of one chairlift, one local elementary school, a small hotel or a medium-sized movie theatre.

Cleaner Construction Efforts

Cleaner construction efforts detailed today include:

  • Real-time air monitoring for particulate matter to measure localized air quality;
  • idling restrictions on all construction equipment to minimize environmental impacts on the surrounding community;
  • streamlined soil-moving and coordinated disposal to reduce pollution caused by multiple vehicle trips, this effort has resulted in 90,000 tons of soil and structural fill being maintained on-site--saving over 33,000 gallons of gas, 489 tons of CO2 and equivalent to taking 75 cars off the road; and
  • introduction of the use of biodiesel fuel (B20) into machinery such as the street sweeper to help to contain dust and soil. Related WestPac will be encouraging and requesting all current contractors use biodiesel fuel wherever possible and will be locating biodiesel fuel tanks onsite. The use of B20 biodiesel fuel typically reduces life cycle carbon dioxide emissions by 15 percent and airborne particulate matter by 12 percent over traditional diesel.
Traffic Reduction Initiatives

Related WestPac has implemented policies to reduce traffic congestion. Through employee bus and carpooling initiatives, there are approximately 640 fewer car trips in and out of Snowmass Village on a daily basis. It is estimated that this saves 238 gallons of fuel and over two tons of carbon dioxide emissions each day. The developer is also currently assembling building components offsite whenever possible to reduce worker traffic to and from the site. Related WestPac aims to increase connectivity and reduce auto usage by creating seamless pedestrian-oriented neighborhoods, gondola people-movers and walkable destinations. The addition of a new gondola from Base Village to Snowmass Center ensures integration of all three development sites.

Sustainability Specialist

Related WestPac announced that it will appoint a full-time Sustainability Specialist to review and monitor cleaner construction practices, while ensuring the buildings are developed to their sustainable design standards. In addition, the Sustainability Specialist and Related WestPac will develop a Green Playbook to promote and guide green practices for all contractors and subcontractors, employees, partners and vendors.

Sustainability Stewardship Committee

The Town of Snowmass Village announced that with the community they will be creating the Snowmass Village Sustainability Stewardship Committee. Through the Sustainable Stewardship Committee, the Town and community, in partnership with all present and future stakeholders including Related WestPac and Aspen Skiing Company, will work collaboratively to advance sustainable programs and initiatives and expand the impact of their individual eco-conscious efforts. The Committee will collectively pursue innovation and code revisions to encourage and promote environmentally sensitive development and redevelopment and will look to create a Sustainability Speaker Series to engage and empower the community, raise awareness and ensure that future generations learn about the environment and actively participate in creating a better, brighter future.

Snowmass Village Mayor Douglas “Merc” Mercatoris said, “The Town of Snowmass Village has a proud legacy of protecting and respecting the environment in which we are so privileged to live. We welcome Related WestPac’s commitment to work with us to achieve our collective goal of a truly sustainable community as we pursue an even stronger, healthier, cleaner, greener future for all.”

Town of Snowmass Village Councilmember John Wilkinson said, “Snowmass Village’s stewardship of the natural environment dates back to the resort’s very founding in the 1960s. The steps we take today will have a real and concrete impact on the environment we live in tomorrow. By striving towards a sustainable future collaboratively, we will create a better, stronger community that offers the best possible quality of life.”

Mike Kaplan, President and CEO of Aspen Skiing Company said, “We are thrilled to work with partners who share our commitment to sustainable business practices and green building. With this announcement, Related WestPac and the Town of Snowmass Village have taken a true leadership position in sustainable development.”

In developing its sustainability efforts, Related WestPac has been advised by former New York Governor George E. Pataki in his new role as Founder and Chairman of the Pataki-Cahill Group. Governor Pataki is widely known for protecting over one million acres of open space, sponsoring the first mandatory cap and trade carbon initiative (which now includes ten Northeastern and Mid-Atlantic states), instituting the nation’s first green buildings tax credit program and working to ensure the redeveloped World Trade Center site will be a global example of green building design. The Governor also created a public-private partnership for clean energy generation that resulted in one of the largest demonstrations of industrial solar power in the U.S., and one of the largest wind-power arrays in the east as well as two cellulosic ethanol production facilities and two clean coal plants currently under d--evelopment.

Former Governor George E. Pataki said, “It is encouraging and inspiring to see this type of commitment by the private sector to further environmental sustainability. Related WestPac has begun exploring innovative ground-breaking technologies that will engage the community and propel sustainability efforts forward. Broad participation is a key component to sustainability and the shared vision of Related WestPac, the Town of Snowmass Village and Aspen Skiing Company will motivate action and accelerate progress toward a stronger and healthier environment in Snowmass Village. No one developer or local government can do it alone. We must continuously commit to work together to develop our communities for the future and pursue a cleaner environment, a more secure nation and a safer world.”

Related WestPac is a joint venture partnership of Related Companies, a fully integrated private real estate development company, and WestPac Investments Colorado LLC, a diversified real estate investment and development company.

Snowmass, Colorado
Already one of North America's premier resorts, Snowmass is undergoing a renaissance. Located less than seven miles from Aspen Airport and easily accessible from the Eagle/Vail Airport (only 70 miles) the new Snowmass resort will be cohesively developed to ensure its status as a year-round destination. The Snowmass experience will be greatly enhanced with first class services, luxury residences, hotels, entertainment venues, dining and shopping amenities and additional ski-in/ski-out access to Snowmass. The development will combine pioneering environmental stewardship with a first-class resort experience and will create a new model in community and sustainable resort development. 
 
Related WestPac
Related WestPac is a joint venture partnership of Related Companies, a fully integrated private real estate development company, and WestPac Investments Colorado LLC, a diversified Real Estate Investment and development company. Related WestPac owns Snowmass Base Village, Snowmass Center and parts of West Village and is creating an 80-acre master planned development, allowing all three sites to be cohesively developed. 
 
Related WestPac shares the vision of a Snowmass renaissance established by the community and supported by Aspen Skiing Company. Aspen Skiing Company (ASC) (www.aspensnowmass.com) will remain involved in the long term operation and management of Snowmass Mountain and operate the highly anticipated children's center, the commercial spaces for ticket sales, ski retail and rental facilities in Snowmass Base Village. In addition, Aspen/Snowmass Hospitality, a division of ASC, will be responsible for hotel and residential property management. ASC is moving forward with over $78 million to date in on-mountain improvements that are an integral part of base village and the entire town's renewal, including a new, eight-person gondola and a six-person high speed chair lift which allows skiers to have unprecedented mountain access and skier mobility. 
 
About Kor Hotel Group
The Kor Group is a privately held real estate development and management firm with investments primarily in hotels, resorts and multi-family real estate. Kor Hotel Group, the hospitality division of Kor, manages its own assets, non-owned hotels under third-party agreements and operates two proprietary luxury brands; Viceroy with properties in Santa Monica and Palm Springs, and The Tides with locations in South Beach,  Riviera Maya and Zihuatanejo, Mexico.  Kor's urban retreats include Avalon Hotel and Maison 140 in Beverly Hills, Delfina in Santa Monica, Gateway in Los Angeles, Chamberlain in West Hollywood and Loden in Vancouver. Viceroy and Tides projects in Miami, Anguilla, Riviera Maya and Snowmass, Colorado are forthcoming.

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Contact:

Related Westpac
Joanna Rose
joanna.rose@related.com
212.801.3902

Kor Hotel Group
Daniel Guerrero
323.930.3892
daniel.guerrero@korhotelgroup.com
 

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Also See: Intrawest's Resort Village Development at the Base of Snowmass Ski Area Being Challenged as to Ambitious / July 2003
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