Steamboat Springs Wintergreen Homes is hoping the success of The Villas at Walton Creek and Quail Run will spill over into its next endeavor, Sunray Meadows.
RE/MAX Realtor Ken Gold said Sunray Meadows, the newly approved 136-unit condo development along Village Drive and across from Meadow Lane, is geared toward first-time homebuyers and locals.
In 1996 and again in 1999, Wintergreen Homes brought entry-level multifamily homes to the Steamboat market. Gold said it took two years for the 108 units at the Villas to sell out and another two for the condo units at Quail Run to sell.
That success led Wintergreen Homes to change its plan for Sunray Meadows. At first, the company's partners, Jeff Spanel and Art Kleinstein, had planned the 11-acre lot for high-end townhomes. After seeing the strong resale of the less expensive Villas and Quail Run homes and the slower sales of more expensive Quail Run townhomes, Wintergreen Homes decided to go with the entry-level concept for Sunray Meadows.
Prices for a 760-square-foot, one-bedroom home start at $169,000 and prices for a 1,007-square-foot, two-bedroom home start at $199,900.
Gold is also working with local lenders to offer 100-percent financing on the homes, so homeowners would not have to come up with a large downpayment. Gold said people consistently tell him they would love to buy a house, but can't afford the downpayment.
When Gold had to provide the downpayment for his first house 20 years ago, he said he had to "beg, borrow and steal" to find the $5,000.
"A lot of people who are working people (in Steamboat) don't end up saving a lot of money. Coming up with the $10,000 or $20,000 downpayment can be hard," Gold said.
The Sunray project will also try to keep homeowners association fees between $175 and $200 a month, Gold said.
"Basically, we want people to only deal with their utilities and mortgage payment," he said.
Architecturally, the homes will be different than those in the Villas and Quail Run.
Unlike the Villas and Quail Run projects, which had dozens of units per building, Sunray Meadows has plans for eight buildings with eight units and eight buildings with nine units. All the units have private attached garages.
"I think, architecturally, these are a little bit nicer," Gold said.
Architectural plans indicate three different materials will be used for the three-story buildings. The ground and first floors will have horizontal wood siding with river rock veneer and the second floor will have vertical wood siding or wood shingles with balconies that have stained wood columns.
The gable trusses, wood fascia and exposed framing will also be stained wood.
The council gave final approval to the project on Feb. 25 and construction is scheduled to start this spring.
Gold said that 10 people have already made reservations.