Duplexes work for Kreissigs

Couple finds profitable niche with Bear Meadows

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— Kimberly and Peter Kreissig typically put in a hard day on the job, make dinner, put the kids to bed and then retreat to their office.

Most nights, they work until midnight or 1 a.m. That's the way it is when a married couple takes on full responsibility for developing 10 duplex units.

"I lie awake running the numbers," Kim confessed. "Then we sell a unit and that's good. Then we dig another hole and I lie awake again."

The Kreissigs are in the process of completing the Bear Meadows development bounded by Mariah Court and Chinook Lane on Steamboat Springs' south side. Fortunately for Kim's insomnia, five of the 10 units are already under contract, and the model unit isn't even due to be completed until the middle of August.

"We priced them to move," Kim said. "We don't want to sit on product. When we sat down and designed Bear Meadows, our objective was to provide a quality product to the community with local buyers in mind."

Peter designed the five duplex buildings and the Kreissig's company, K&K Builders, Inc., a subsidiary of Kreissig Homes, is the general contractor.

Kim is with Coldwell Banker Silver Oak in Steamboat, and is the listing Realtor. Kim said it isn't her husband's style to take a purely managerial role and run a project from an office he's on the job site wielding a nail gun every day. It's part of his personal ethic that drives him to include as many quality construction and finish details as he can fit within the budget, she said.

"Our goal is to walk away from a project with a win-win," Kim said. "Yes, we could price them higher and perhaps make more profit, but we'd rather walk away knowing our clients have received good value."

That's why the duplexes' interior walls are insulated for sound proofing, Peter uses 5/8-inch interior drywall with rounded corners and a hand-textured finish. At Bear Meadows, the interior doors are solid six panel wood, with brass lever hardware. There are wood ceilings in the main living area and vaulted 9-foot ceilings throughout. The master baths offer whirlpool tubs.

The duplex units at Bears Meadows include:

n The Aztec A two-bedroom, two-bath unit with 1,350 square feet for $275,000 to $295,000.

n The Polar A three-bedroom, three-bath unit with 1,912 square feet for $375,000.

n And the Grizzly A four-bedroom, four-bath unit with 2,232 square feet for $425,000 to $445,000.

The price range of the Polar units initially was $355,000 to $375,000 but only one of the six units remains and its is listed at $375,000.

"I'm sold out of the three-bedroom floor plans," Kim said. "I really thought the two bedrooms would go first."

The Kreissigs hoped their units would appeal to existing local residents, but of the five under contract, four are committed to second homeowners. Kim is quick to point out that three of them hope to transition to full-time living in Steamboat.

Kim's most recent buyer had just come to Steamboat for the first time and had only spent three days in the valley when he signed on the dotted line.

His comment to her was, "I've just bought a lifestyle."

Kim theorizes that duplexes appeal to buyers as an attractive alternative to a condominium.

"They make people feel like they're in a a home," she said. "They have little yards and they're all end units."

From a contractors perspective, duplexes are incredibly efficient, Kim said, and Peter has concentrated on building duplexes on spec during his eight years in business here. Because Peter designs his own buildings, his familiarity with the construction drawings leads to increased efficiencies in the construction process.

Kim said Jim Simon at Vectra Bank has been very helpful in their business ventures.

"Jim Simon had faith in Peter when he was first starting out eight years ago and he took the risk," Kim said. "Peters first project was building some garages."

Peter won't finish up the last of the 10 duplex units until next spring, but already they have solid plans for what comes next.

Bear Meadows backs up to the Willowbrook subdivision of new single-family homes.

When Willowbrook was originally approved by the city of Steamboat Springs, it included plans for a pair of four-plex buildings. Kreissig Homes has acquired that portion of the original Willowbrook project with planning approval intact.

K&K Builders will transition into the new site next door, bringing the same standard of construction values to the four-plex buildings.

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