BROOMFIELD - Vail Resorts Inc. announced plans to develop a $1 billion mixed-use "green" village at the western end of its flagship ski resort.

Called Ever Vail, the project involves creating a slopeside community with an urban feel - a combination of residences, a hotel, offices, retail shops and dining establishments.

A public parking garage and a gondola to the ski runs also are planned for the 9.5-acre site in the area now known as West Lionshead.

Vail Resorts CEO Rob Katz said the redevelopment of land will involve cleaning up a former gas station and other industrial operations. The buildings will be certified to meet certain environmental standards.

"This is clearly our most ambitious green building project to date," Katz said at a news conference at the company's corporate headquarters at the Interlocken complex.

The company's plans will be subject to approval by the town of Vail, which Katz described as a "partner" in the company's effort to build a new resort village. Vail Resorts hopes to begin selling real estate in 2009.

Plans call for 150 to 250 wholly owned condominiums, with roughly 75 to 125 fractional- ownership condos. A hotel of up to 150,000 square feet also is part of the proposed project.

Vail, like other mountain towns with upscale housing developments, has been experiencing booming real estate sales in recent years.

"This market is just going crazy," said Kevin Deighan, principal at Vail-based Timberline Commercial Real Estate. "In the last two years, we've seen a spike in land prices."

Going 'green'

Vail Resorts hopes its "green" village project will become one of the first neigborhood developments to attain LEED certification, a process that involves getting a third party to verify a project meets standards for environmentally sustainable development. In addition to redeveloping an industrial site, the company plans to meet green standards in part by using the following in construction:

• Salvaged brick, lumber, fixtures

• Recycled products

• Nontoxic paints, caulks, adhesives and woods that release little or no pollutants into the air

• Energy-efficient appliances and windows

• Specialized lighting systemsSource: Vail Resorts Inc.

kelleyj@RockyMountainNews.com or 303-954-5068