Boulder Ridge adds 2nd developer home sale
September 28, 2012
Steamboat Springs — Boulder Ridge developers Jon Peddie and David Josfan took the opportunity Tuesday to hold one last open house at their latest developer home before its sale closes this Tuesday, right on the heels of the sale of building Lot 10 on Sept. 14 for $743,907.
"The house just (went under contract) a couple of weeks ago, and we wanted to take the chance to have people in and preview the elevation drawings for the next house," Peddie said.
The newest home at Boulder Ridge (the first developer home sold in August 2011 for $1.61 million) was listed at $1.83 million. Its sale, which is pending, would continue to prove the developers' conviction that there is a market for new homes in the price point of $1 million to $2 million that deliver qualities buyers aren't finding in older inventory. The recent sale also supports their belief that developer homes can demonstrate to clients, who would rather build a custom home, how it can be done on Boulder Ridge.
In addition to the sale this month, the Boulder Ridge development entity, Santa Fe Trails LLC, closed on the $609,900 sale of Lot 6 on Aug. 31 and has two more lots under contract, Peddie said.
"We started building homes to show how easy it is to develop in Boulder Ridge," Peddie said. "We thought if there were one or two homes, it would be easier for people to visualize. Now, we've sold four lots this summer, which is pretty much unheard of in this market."
In addition to the two developer homes, there is one large completed contract home at the top of the cul-de-sac in Boulder Ridge. It is well-situated on the ridge and relatively unobtrusive, given its lofty perch, from the perspective of motorists on Steamboat Boulevard. Access to Boulder Ridge is via a paved road off Fish Creek Falls Road.
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Peddie said he expects that at least three of the four lot sales this summer will evolve into construction projects within 18 to 24 months.
"That's normal because it takes six months to a year to design a really good house," Peddie said.
Josfan told the Steamboat Pilot & Today in early autumn 2011 that he and Peddie had become convinced that buyers no longer were looking for homes upward of 5,000 square feet and, instead, sought finely crafted, sustainable homes closer to 4,000 square feet. The home expected to close Tuesday is a little larger than the first developer home but still less than 4,000 square feet. Its architectural lines also are distinct from the first home. Still, it follows the target floor plan: a luxurious master bedroom on the same level as a great room with ancillary bedrooms and a family room on another level. Garage and outdoor living spaces are generous.
Josfan achieves efficient use of available square footage by eliminating hallways and cleverly tucking storage into void spaces in the frame of the house. Buyers still will enjoy luxuries including upstairs/downstairs laundries and wine refrigerators.
To reach Tom Ross, call 970-871-4205 or email tross@SteamboatToday.com