Steamboat Springs The city's newest mixed residential/commercial project won't break ground until this summer - and more than 30 percent of the residential units already are under contract.
Coleman Cook and Joyce Hartless of Colorado Group Realty confirmed this week that their company's Realtors have identified outside buyers for 10 of the 27 condominiums at Sundance North on Anglers Drive.
Cook said the strength of the residential condominiums is their proximity to dining and shopping. Residents will be able to walk to several restaurants and boutique shops across the street, and the Safeway grocery store is just on the other side of Fish Creek.
"Convenience is what we're really selling here more than anything else," Cook said.
Hartless and Cook are among four Colorado Group Realty broker-owners who make up the listing team for the residential condos. The others are Joy Rasmussen and Joe Cashen. Jon Sanders and Jim Cook are representing the commercial space.
Sundance North will comprise three large buildings and one small commercial building immediately opposite the existing Sundance at Fish Creek shopping center. The site is one block east of the intersection with U.S. Highway 40. The developers are Jim Cook and three partners from the Illinois/Indiana area, including Tom McCalley of Carmel, Ind.
The exterior facades of the buildings are designed so each commercial storefront resembles a separate building in an urban downtown. Varying roof styles and materials enhance the effect.
"We're going to incorporate a lot of steel trusses and beams, which we haven't seen a lot of," Coleman Cook said.
The architect is Eric Smith Associates. The general contractor is Calcon Constructors, the same company building Howelsen Place in downtown Steamboat. Construction is expected to take 14 to 16 months, with delivery of completed units in fall 2009.
The two- and three-bedroom condos range in size from 990 to 1,560 square feet. Each residence includes an underground parking space. They range in price from $475,000 to $665,000.
"I hope they'll appeal to locals looking for an affordable alternative," Hartless said.
Cook said the developers deliberately targeted a price range where inventory is currently low in Steamboat. So far, the mix of buyers includes full-time residents, second-home buyers and investors, he said.
The condominiums have 9-foot ceilings to enhance the feeling of openness. Most of the floor plans are laid out with the kitchen, dining room and living room all in a line
separated only by the kitchen bar. All of the condominiums have decks, and all of them are south-facing to take advantage of winter sun.
Interior finishes include slate, maple floors and cabinets, granite countertops, four-panel pine doors, gas fireplaces with stone accents, and stainless steel appliances.
Of the 10 units already under contract, seven are three-bedroom units. The project also includes three deed-restricted units that offer two bedrooms and two baths, plus two accessible units.
Coleman Cook said the condos that haven't been put under contract by Colorado Group Realtors in the past two weeks were entered into the Steamboat Springs Multiple Listing Service last week, and he will introduce them to the entire real estate community Tuesday.
Terms call for $5,000 at contract signing followed by a 14-day diligence period, after which 10 percent of the purchase price less the $5,000 is due.