The owners of the Redstone Motel in Hayden hope to add 24 rental units to the property at Jefferson Avenue and Pine Street.
David Josfan, Chris Paoli and Ben Spiegel bought the motel about a year ago. It sits on the south side of Jefferson Avenue and houses 16 units, which the owners are renting out long-term rather than nightly, Spiegel said. The units have kitchenettes, which makes them great for temporary workers, he said.
Spiegel said the owners hope to have the new project through Hayden's planning process by the end of October and to break ground in March 2009. The apartments would be two-bedroom, 800-square-foot units, he said.
The owners have not yet approached the Hayden Planning Commission about the proposed project, commission member Donna Hellyer said.
Three mobile homes sit on the back part of the lot. Residents of those homes will be asked to move to make way for the new development, Spiegel said.
Hellyer said the owners of the trailers have been given notice of the plan. She said additional rental units would be good for Hayden.
"If they can expand, that would be great," she said. "We need something like that."
The motel site has historical significance, said Hellyer, who also serves on the Hayden Heritage Board. The Edison schoolhouse was built there in 1900 and closed in 1947 or 1948, she said. The motel, called the Hitching Post, was built by the Hockett family in about 1948, Hellyer said.
Dave and Marion Mitchell bought the site in 1950 and renamed it the Redstone Motel. Spiegel and his partners bought it from Sharon Stark.
Paoli said the owners would decide how to develop the property by keeping an eye on the market. Paoli is a real estate agent with Colorado Group Realty in Steamboat Springs.
"At some point, Hayden's going to see some good growth, and we've got : one of the larger pieces" of land in town, he said. "It's a full acre in downtown Hayden. At some point, if there was a reason to redevelop, I thought it presented a good opportunity. I also think there's a shortage of rental units in our valley because Craig is pretty booked, and Steamboat is full."
Spiegel said he and his partners were looking at long-term possibilities.
"Eventually, maybe three years from now, the hotel will come out, and we'll do about another 12 units," he said. "And then we're going to have a storefront unit that's three stories in front."