FACT CHECK: How much will homes in West Steamboat Neighborhoods cost?
STEAMBOAT SPRINGS — Brynn Grey Partners, the developers behind West Steamboat Neighborhoods, plan to build 450 housing units over the next 16 to 20 years.
Within the development, there are three neighborhoods: Emerald is made up of large market-rate, single-family homes; Slate Creek is made up of small and medium market-rate, single-family homes; and the flagship Gateway neighborhood is made up of a mix of housing units and commercial uses.
All of the deed-restricted housing is slated for the Gateway neighborhood and will be 80% of that neighborhood.
The deed restrictions require the owners to work full time in Routt County, prohibit short-term rentals and cap appreciation.
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Target pricing in the Gateway neighborhood is as follows, according to Brynn Grey Managing Partner Melissa Sherburne:
- Multifamily homes and townhomes: low $300,000s to low $400,000s
- Duplexes: mid-$300,000s to low $400,000s
- Three-bedroom, single-family homes: mid- to high $400,000s
- Market-price homes: mid-$700,000s
The company would not give specific dollar amounts for low and high numbers within these price ranges.
The market-rate homes will be larger, with the possibility of different finishes, than the deed-restricted homes, Sherburne said. Brynn Grey plans to pepper market-rate homes throughout the neighborhood.
According to Pages 12 and 13 of the annexation agreement, Brynn Grey must build 108 deed-restricted units within 10 years from the annexation ordinance and map being recorded. If they don’t, the company’s regulating plan, which states what uses and densities are allowed on the property, would no longer be valid.
Fact Check will address deed restrictions more closely in an article next week.
What will the homes look like?
Brynn Grey surveyed residents in its Breckenridge development, Wellington, which Sherburne said is analogous to what they aim to build in Steamboat. According to the company’s vision document, this neighborhood is made up of two-income households making about $100,000 a year. Residents are ages 25 to 44, about half of which have children and a quarter of which have children under age 5.
The homes will have front porches and access to trails, sidewalks and shared greens. Sherburne said the neighborhood will contain smaller commercial spaces to serve the development and neighboring homes on Steamboat’s west side. This includes plans for a day care and smaller commercial spaces for possible businesses such as a restaurant or offices.
As the neighborhood builds out and the market supports something larger, Sherburne said the company would pursue a bigger commercial space. The company’s vision document shows space for a grocery store.
“We want to allow people to pick up a gallon of milk without having to drive across town,” she said.
There is land within the development set aside for the Steamboat Springs School District to develop. The land will revert to another public use if the school district does not place a school there.
Brynn Grey also supports extending the Yampa River Core Trail along Slate Creek through the development. Sherburne said Brynn Grey is “continuing to work through” exactly what that support would look like.
This story is part of the Steamboat Pilot & Today’s ongoing Fact Check series, which is intended to answer readers’ questions about the proposed West Steamboat Neighborhoods annexation. This series will be published with other annexation coverage at SteamboatPilot.com/news/annexation. If you have a question you’d like to see answered in Fact Check, email reporter Eleanor Hasenbeck at ehasenbeck@SteamboatPilot.com.
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