Developers pay $25 million for Brown property

540 acres make up 85 percent of the land in West of Steamboat Springs Area PLan

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— A group of developers has finalized the purchase of 540 acres west of Steamboat Springs for approximately $25 million. The land is owned by Steve and Mary Brown.

The property makes up about 85 percent of the land in the West Steamboat Springs Area Plan, or WSSAP. The master plan was updated last summer and outlines how the property should be developed to accommodate growth in Steamboat.

Besides the 540 acres the developers are calling Steamboat West, the developers also have an adjoining 160-acre piece of land under contract. The principal owners of the development company Steamboat 700 LLC are Mark L. Fine, with Mark L. Fine Associates; Jim Zeiter of Insight Realty Holdings; and Danny Mulcahy of DM Hollo Management. Mulcahy is the Steamboat West project manager.

The deal closed Monday, but had not been recorded with the Routt County Clerk's Office Tuesday afternoon.

The Steamboat 700 developers have begun preliminary planning and market analysis for Steamboat West, Mulcahy said.

"The immediate need is affordable housing, and that's likely to be the first phase of the project," Mulcahy said.

The WSSAP plan requires that 20 percent of the housing meet affordable-housing requirements.

Mulcahy said it would likely be two years before housing is built. The Steamboat 700 developers have designed and built master planned communities in Nevada, including Summerlin and Green Valley. Their experience includes mixed-use projects, office buildings, business parks, industrial warehouses and retail centers.

To reach Matt Stensland, call 871-4210 or e-mail mstensland@steamboatpilot.com

Comments

another_local 7 years, 1 month ago

Just watch.... a big-box retail business park proposal is coming.........

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routty 7 years, 1 month ago

I dunno about that. . .city council has been pushing back against big boxes going on a few months now, and they have to approve the final proposal. Look at how hot the housing market is all around with limited new traditional homes being built. . .the housing has to come first, and the retail will follow.

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inmate2007 7 years ago

I may be wrong but isn't a large portion of this property in the county? If that's so what do the city council gods have to say?

Home Depot, Barnes and Noble, The Gap, Target could be within three miles of DownTown - eight miles from the Mountain and parking would not be a problem.

If I'm wrong about the city boundary's, the RiverBend and Duckles property's are available........................

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routty 7 years ago

you're right, it's all in the county, but the eventual expectation is that it would be annexed into the city of Steamboat.

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another_local 7 years ago

I think it will be brought into the city. I also have heard that the proposal is coming. I think that council will push back, but as long as the developer meets the conditional use requirements it will pass. There is no ban on big box, just a set of hoops to jump.

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