Flat Tops at Wildhorse Meadows in Steamboat sell 7 homes, help fill single-family home niche
February 14, 2018
STEAMBOAT SPRINGS — With the current inventory of single-family homes in Steamboat Springs priced between $1 million and $1.5 million sitting at 23 homes, Kerry Shea concludes that he and his partners at Flat Tops at Wildhorse Meadows occupy a strong niche in the market.
Their first seven new homes are sold, and they have the ability to build another 14.
Of the 23 homes currently listed on the Steamboat Springs Multiple Listing Service in the price range, four are homes in Flat Tops at Wildhorse, offered at prices from $1,190,000 to $1, 318,500. And they are more rare in the market right now, because of their close proximity to the base of Steamboat Ski Area.
Shea said the sale of seven homes in the first year is being viewed by co-partners Brent Pearson, Gavin Malia and some unnamed out-of-town team members as validation of their development plan.
"We wanted to provide a more streamlined avenue for buyers to build a new (single-family) home without the burden and stress of (finding a builder), working with an architect and coming up with the interior package,” Shea said. “We've checked some of those boxes for them."
Simply put, the developers aren't building custom homes. Instead, they worked with Steamboat/Boulder architect Eric Smith to design several floor plans and with Charlotte Thomas of YampaValley Design to develop several interior packages that complement the modern lines of the buildings. There are upgrades available to choose from, but they are limited to what is described in the packages.
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Homes range in size from a three-bedroom, 1,949 square-foot, 2.5-bath home, up to a 2,904-square-foot, five-bedroom, 3.5-bath home.
One of the standout qualities of the homes is the exterior living space created by large decks. The homes are also within walking distance of the Wildhorse Gondola, which runs from the proximity of the ski area's Meadows parking lot to Gondola Plaza.
For prospective homeowners, purchasing at Wildhorse is a two-step process. Initially, they choose and purchase a building site. Lots are currently priced in the low- to upper-$200,000s, Shea said. The transaction is completed when the home is ready to be occupied.
Although the development process infuses the development team with cash at the front end, Shea pointed out homebuyers benefit from pre-arranged architectural and interior design expenses that are borne by the developers.
Shea is also the listing broker for building sites and homes at Flat Tops at Wildhorse through Ascent Real Estate.