Homes going fast in Emerald Heights development
April 23, 2016
Steamboat Springs — Homes in the Emerald Heights development off of Hilltop Lane are going under contract as fast as builders can finish them, according to co-developer and real estate broker Jon Peddie.
The last four of 12 completed four-bedroom, 3 1/2-bath units went under contract last week, and three of four units in a building still under construction are under contract, said Peddie, who is developing the property along with longtime Steamboat builder David Josfan.
"We feel that the project is probably the most successful new construction project on the market today," Peddie said. "Everything we build has sold at completion."
When complete, the project will include 23 homes in six buildings, with each residence between 2,000 and 2,300 square feet, featuring granite countertops, in-floor heat and custom cabinetry along with main floor master bedrooms and two-car garages.
The units sold last week closed for between $610,000 and $639,000, and the unit under construction is on sale for $629,900.
Peddie said developers have also released four units for the fifth building, which could break ground any time, depending on the weather.
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The sixth and final building with the final three units is also expected to break ground this spring or summer, with completion in spring 2017, Peddie said.
Peddie said Josfan has spent decades as a builder of luxury homes and has been able to take a lot of the features of high-end homes and figure out ways to incorporate them into the development on a more limited basis.
"We have a lot of custom options and standard finishes that are really attractive that you typically wouldn't see in a townhome of this price range," Peddie said.
Peddie said he believes the range of price for the new homes is attractive to both local homeowners and second homeowners, which is helping to move sales along quickly.
"Where we're really feeling both very successful and very lucky is that our price range is attainable by both locals who are moving up in the market and by part-time residents who are looking for something they can manage from a price perspective without being a full-time resident," Peddie said.
Another strong feature of the development, Peddie said, are low HOA rates of about $250 per month, which cover snow removal, landscape maintenance, some exterior home care and insurance, among other things.
Learn more about the development at http://www.emeraldsteamboat.com.
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