Steamboat Springs The prospect of a new single-family housing development on Steamboat Springs' west side was raised recently during a meeting of the Steamboat Springs Board of Realtors.
Jim C. Hansen of Old Town Realty has confirmed that he has a client who has put 58 acres known as "Slate Creek" under contract.
Hansen said the property is within the city limits, just north of the existing West Acres mobile home park and is zoned residential. He said his client envisions high-density manufactured single-family housing in the project. He declined to name the buyer and seller of the property, because it isn't due to close until late November.
"We'd like to get 300 building sites," Hansen said. Tentatively, Hansen said the goal is to bring three-bedroom, two-bath homes with unfinished basements to market for less than $200,000.
Building lots would be individual but small, Hansen said, at 6,000 square feet for single-family homes and 8,000 square feet for duplexes. A single-family home lot of 6,000 square feet converts to about one-eighth of an acre, Hansen said.
"We need that increased density," to complete the subdivision at the targeted selling prices, he said.
Hansen said a conceptual plan for Slate Creek previously existed, but the new developers would still have to enter the city planning process from the beginning.
The tentative development at Slate Creek is in close proximity to West End Village, an affordable housing venture being developed jointly by the Regional Affordable Living Foundation, a private not for profit, and local contractor Steve Cavanagh. The 22-acre West End Village would include 100 affordable housing units, including some wholly owned by RALF.
Already under way in the area west of the city is Silver Spur Estates. Listing Realtor Ivan Schmidt of Century 21 Ski Town Associates said 21 of the 46 original lots remain for sale at an average price of $72,380. The lots average about .38 acres in size. The other 25 began closing on July 17, when the project became fully bonded.
Six homes are being constructed in the subdivision just north of the existing Steamboat II.
Schmidt said the subdivision roads have been paved and trees are being planted in the subdivision this fall. Plans call for 35 percent open space in the subdivision and a 2.3-mile subdivision.
The subdivision developers include four Denver men who formed Silver Spur Development LLC, Schmidt said.
Hansen said if his clients succeed in their Slate Creek project, he feels strongly they will help to fill a need for affordable housing.
Hansen said he also foresees an increase in the supply of affordable units as the local condominium market transforms itself. Hansen said the continuing construction of new, luxury condominiums is creating competition that is resulting in some older condos entering the long-term rental market.
Other condos are being listed for sale at prices that can represent entry-level housing for local people, Hansen said.
RALF Director Rob Dicks aid last week that what is really needed to bring affordable housing units to the market is building lots that sell in the range of $35,000.