Steamboat 700 Project Manager Danny Mulcahy, left, addresses housing and traffic concerns related to the proposed development west of Steamboat Springs during a talk hosted by Colorado Group Realty at the Tread of Pioneers Museum on Tuesday afternoon.

Photo by Brian Ray

Steamboat 700 Project Manager Danny Mulcahy, left, addresses housing and traffic concerns related to the proposed development west of Steamboat Springs during a talk hosted by Colorado Group Realty at the Tread of Pioneers Museum on Tuesday afternoon.

Mulcahy shoots for 2010

Steamboat 700 developer seeks to limit real estate speculation

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Steamboat 700

Colorado Group Realty on Tuesday hosted a talk with Steamboat 700 project manager Danny Mulcahy. Mulcahy briefly shared his philosophy on affordable housing in Steamboat.

Colorado Group Realty on Tuesday hosted a talk with Steamboat 700 project manager Danny Mulcahy. Mulcahy briefly shared his philosophy on affordable housing in Steamboat.

— Steamboat 700 is no place for speculation, Project Manager Danny Mulcahy said Tuesday.

Mulcahy delivered this message at a talk hosted by Colorado Group Realty. His presentation drew about 50 people. Colorado Group Realty Chief Operating Officer Bart Kounovsky said the crowd that packed the meeting room at Tread of Pioneers Museum was about 50 percent real estate agents, and many of Mulcahy's comments were directed at such an audience.

"People's ability to speculate on this property will be limited," Mulcahy said. "For the Realtors in here, that's a shame, but it helps the attainability."

Mulcahy outlined some mechanisms he would use to limit speculation and keep his proposed community one for the working-class, full-time resident. The most important one, he said, will be to bring large amounts of real estate to the market at the same time. He predicted there could be 200 sales a year in Steamboat 700 in its first years on the market.

"The way speculation is limited is by the pure volume I have on the market," Mulcahy said. "It's going to be real hard for speculators to compete with me."

Mulcahy offered some insight into how his product might be brought to the market and when. He said he won't be the only developer and that there also would be lot sales for people to build their own homes. He predicted it would take about 20 years to build out the entire property.

"There will be several developers," Mulcahy said. "There will be lots of lot sales."

Mulcahy was asked when such sales might start, but he could not be specific.

"I can't even have that conversation until I get annexed," Mulcahy said. "With your guys' help, I'll be annexed this year. If I get annexed this year, my first sale is 2010. : I won't take reservations at least until I get annexed."

Mulcahy said a school, a community center and a quick-care clinic could be included in his project, but not a recreation center. He also spoke about what he hopes Steamboat 700 will look like from a design standpoint.

"I like the eclectic nature of downtown, and that's what I want to create out here," he said. "I like the pink house, next to the stone house, next to the wood house."

Mulcahy admitted that his goal of getting annexed by the city of Steamboat Springs in the next nine months is an aggressive one, but he also noted that the city has identified his 700-acre property as a target for growth in area plans and should be able to move quickly. He also said the longer it takes the city to annex Steamboat 700, the higher prices will be on the approximately 2,000 homes he proposes. Nonetheless, Mulcahy said he would not abandon the project no matter how long it takes.

"I'm not going anywhere," he said. "It will happen."

Comments

spukomy 6 years, 7 months ago

"... the crowd that packed the meeting room at Tread of Pioneers Museum, was about 50% Real Estate Agents."

See, even the real estate agents are having a hard time finding someplace to live.

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id04sp 6 years, 7 months ago

"Until I get annexed" means he can't do a thing until somebody else agrees to pick up the tab for water, sewer and road infrastructure.

I think that someone who buys land for the purpose of subdividing and reselling it at a higher price would be defined as a "speculator."

If the shoe fits . . . .

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realistic 6 years, 7 months ago

Does this guy think he is doing us a favor by doubling the size of steamboat? Look at the path of distruction he and people like him has left in their wake in places like las vegas. Who is going to pay for this annexation... who is going to pay for the all these costs... doubling the size of town will add many pressures to an already stretched system... snow plows and schools come to mind. What happens to all realestate when he dumps all of this on the market...if you have purchased land/house in the last 10 years and built up equity... kiss it good by. If you got a home equity loan.. you may have more loan than house value. Just getting in the market and dont care about how this effects someone else?? well, you have an employer that may take a hit, and your job may be gone. The growth will occur for sure... do we want it all in the same day in 2010? The city did a good job with the hard line of growth east of town by whistler... repeat the same out west. create a green belt... find a way to slow the beast...

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ybul 6 years, 7 months ago

Getting annexed has little to do with who picks up the tab.

If you purchased land in the last 4 years your fear may be justified. Though your fears of a loss of value, probably will simply be centered by a contraction in the monetary supply, forcing interest rates to rise.

To look at the issue from only what will happen to your home equity is very selfish.

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mtnkids 6 years, 7 months ago

2000 more homes, using our precious water, 4000 more vehicles jamming our already crowded roads. And the longer it takes to get annexed, the higher the cost will be. Is that a threat? Don't believe that these will be affordable homes....affordable to most of us is $150,000 - $250,000. Stop the annexation.

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corduroy 6 years, 7 months ago

another community center? didn't we just build a huge one.. 700 doesn't need another.. seriously?

I still have high doubts for this project. Someone is still going to get filthy rich, and unless the market changes, houses will still be out of reach to most residents.

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424now 6 years, 7 months ago

2000 houses will not "hit the market at the same time"

As a prospective buyer I would love it. I pay way to much in rent now!

The statement that stuck out is his building model. "Several Delopers" will insure a stagered delivery of product. Some folk are just faster than others.

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lessworkmoreskiing 6 years, 7 months ago

Can we just stop the building and destruction please? You can't go two blocks without seeing construction. I like Steamboat WITHOUT tons of houses and cars everywhere.

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424now 6 years, 7 months ago

I don't see that happening Less. It's the nature of the human race to go forth and multiply. The cats out of the bag and not going back in.

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EfficientSolutions 6 years, 7 months ago

If its out of the bag....

Lets force them to not develop green fields like its the 80's Lets require LEED ND for 700 Sprawl LLC! www.usgbc.org

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EfficientSolutions 6 years, 7 months ago

You have interested perspectives. I like to analyze both sides of the table. You sound pretty liberal ;)

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Ilike2dv8 6 years, 7 months ago

Growth is challenging but it's not going to stop unless people quite having children... not a likely expectation. The pressure that has built up over the last twenty years is because of those who struggle with change and growth. We wanted to wrap our arms so tight around our perfect little community we strangled it. We had a few councils who were afraid to tackle it and now we have a HUGE problem. If the negative posters and those with similar beliefs are successful (which I personally hope you are not) in stopping the west of Steamboat annexation you will be killing the Steamboat you want to protect. Although much of Steamboat's character may be found in the small town feel and rural scenery, I would argue that what makes Steamboat the special place that it is has much more to do with its people and the abundance of beauty that surrounds it. Growth is inevitable, you don't have to like it but it would serve you well to better understand and accept it. It's also not exclusive to big cities, California or Steamboat Springs. It's a global problem, get it? For those of you who harp against the West of Steamboat Springs Area Plan (WSSAP), where would you propose the working people live. Do you really want more growth (sprawl) towards Hayden, Craig and Oak Creek??? Nice, talk about destroying the valley. Without additional housing we will continue to lose our best teachers, nurses, firefighters, aka the fabric of our community. I do not know Mr. Mulcahy or what kind of a person he is but I do hope he and others can bring forth solid plans quickly before the true heart of Steamboat (its people) are gone. It never ceases to amaze me how this community spends hundreds of thousands of dollars on studies and plans and even after an incredible amount of public meetings we end up having these discussions. Where were all of you negative posters the last seven to eight years (long before Steamboat 700 or any other annexation prospects) during those countless public meetings when the citizens of Steamboat who knew growth was coming decided where it wanted the growth to be? Had you been at those meetings or took some responsibility and kept informed you would know the community created and adopted the WSSAP for this exact purpose.

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