The Vilar Center for the Performing Arts is a state of the art public facility that includes a 527-seat theater, a 2,250 square foot art gallery, a 65-foot by 150-foot outdoor ice skating rink and a public transportation drop-off area. The Market Square Condominium development, which includes a seven-story condominium building, retail spaces and a three hundred space parking structure, was designed and constructed at the same time and shares the site with the Center. The entire development serves as the cultural and functional center of Beaver Creek ski resort area.

Although developed in the early 1960s , the Vail and Beaver Creek ski resorts did not have a dedicated performing arts center until this project was completed. The innovative strategy taken was to locate the performing arts center underground, thus preserving the space above for a public ice rink and plaza.