Saturday, February 28, 2004
While new construction seems to be everywhere in Steamboat Springs, two developers are not skipping the opportunity to seize their pieces of the pie in the demand for housing.
Developer Doug Speirn-Smith realized the coming demand in the market three years ago when he decided to add on to a 1980 three-building condominium development called The Moraine. He added four townhouse buildings with 14 units, which were completed in 2002, and called them Cornerstone. Now, he and developer/builder Tom Dover are adding a second phase to Cornerstone. The expansion will comprise 27 units in seven buildings.
Part of the reason for the addition is to meet demand from homebuyers looking for more than "a crash pad for after skiing the bumps," listing Realtor Todd Asbury said. "Buying isn't just ski-driven anymore; it's lifestyle-driven."
That's why demand is growing for properties away from the mountain, Asbury said.
Speirn-Smith said the first phase was built in the perfect location, and, after a lull caused by a lagging economy, sales picked up, and the project sold out last summer.
"The market has picked up a lot, and we're excited to keep going," Speirn-Smith said. "They're quality townhomes. We have a lot of Colorado residents, many from the Front Range, who use them as second homes."
The developers said they want to break ground this spring and hope to finish the project before next ski season.
Buildings in the second phase, which range from duplexes to six-plexes, will be slightly different from the first phase. The new units will have larger decks and floor layouts, but the developers wanted to steer clear of making too many changes to avoid going back to the city Planning Commission.
The development is on Clubhouse Drive, near the intersection with Steamboat Boulevard and about a mile from the Sheraton Steamboat Golf Course.
Prices will range from the high $300,000s to the low $500,000s.
For more information, call Ray Wright with Steamboat Village Brokers at 879-7800 or call Asbury with Colorado Group Realty at 870-8800.
-- To reach Nick Foster call 871-4204
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