Dream Island renovations near completion
STEAMBOAT SPRINGS — There are still a few details to finish up once the snow melts this spring, but it appears the final round of renovations at the Dream Island residential complex in Steamboat Springs have been completed by real estate holding company Ascentia.
“We are wrapping up renovations on the last 11 units as we speak,” said Marko Vukovich, vice president of asset management for Colorado-based Ascentia. “Pre-leasing has begun, and move-ins will begin this week.”
Ascentia, which purchased Dream Island in 1991, has invested $2 million into the property during the past three years. Most of that money has been spent on renovating Dream Island’s three apartment buildings, which house 31 one-bedroom apartments. These units are studio apartments of about 300 square feet.
Vukovich said the units were completely gutted, and everything in each apartment is new. All but one of the final 11 units have been leased.
Rent ranges from $1,250 to $1,350 a month and include utilities. Vukovich said one-year leases receive a concession of one free month.
Renovations in the Dream Island community began in 2017 with the office manager’s apartment and first studio. Buildings A and B were completed in 2018, and the most recent work on Building C began in August 2019. Vukovich said there will be some additional work left to be done at the complex, including the mail kiosk, trash enclosures, property signage, entryway, streetlights and miscellaneous roadwork.
All previous residents were given first priority to rent a unit after renovations were completed. Vukovich said a couple of residents did return, but he said he wasn’t sure of how many.
“Ultimately, we are grateful to be a part of the community,” Vukovich said. “Over the last several years, we have worked closely with various parties from the city and the county, as well as numerous organizations throughout the community. Most importantly, the participation and feedback from our residents over the last few years in regards to various projects and community initiatives has been fantastic.”
In addition to the 31 apartments located in buildings, Dream Island also includes 86 mobile home sites and Elk River Guns, the lone commercial property. Ascentia operates 39 housing communities in seven states. Their properties in Colorado including Aurora, Longmont, Montrose, Eagle, Leadville and Steamboat.
To reach John F. Russell, call 970-871-4209, email jrussell@SteamboatPilot.com or follow him on Twitter @Framp1966.
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