Steamboat Springs The market for single-family home lots in Steamboat just got a tighter as lots in Wildhorse Meadows have sold out.
"I don't predict any new land subdivisions of any significant number of lots in the city limits," said David Baldinger Jr., a broker-owner with Steamboat Village Brokers. "It's one of the last pieces of really good land if you want to be near the base area.
Baldinger, who said he had a "handful" of clients purchase lots, said demand for the Wildhorse homesites was strong, in part because there are a lack of lots on the market.
The 41 homesites were snatched up just four months after they went on the market in October. There were 32 lots sold in the first eight weeks, ranging in price from $475,000 to $600,000. The 41 homesites in The Range sold for a combined $21.6 million.
"We expected that homeowners would greet this project with enthusiasm, but we were pleasantly surprised by how quickly our unique concept caught on," said David Hill, president of Resort Ventures West, which is the developer of Wildhorse Meadows.
Baldinger said his clients found value in the architectural standards that were put in place for the homes that will be built at The Range. If they were built today, the homes on average would probably be in the $2 million range, he said. The future homes at Wildhorse Meadows are limited in size to 3,600 square feet.
The Range homesites are just one piece of the Wildhorse Meadows planned resort community development off Mount Werner Road. The project is being developed on a 50-plus acre piece of land. Infrastructure such as streets and sidewalks are still being built and expected to be completed this summer, which will allow homesite owners to begin building homes.
Townhomes, affordable housing units, parks, bike and walking paths, a gondola to carry people to the Steamboat Ski Area and the 86-suite Trailhead Lodge condo/hotel are some of the things also planned for the development.
"Everyone has a high level of confidence that the project will have a high level of quality," Baldinger said.
With The Lodge homesites sold, Resort Ventures West will not focus on sales of Trailhead Lodge full-ownership units. Pre-sales registration has begun.
On March 8, the Steamboat Springs Planning Commission gave its support for Trailhead Lodge. The Steamboat Springs City Council is scheduled to review and act on plans for Trailhead Lodge at a meeting March 20.