Fox Springs Condos: Last multi-family ‘hurrah’ for the Kreissigs
STEAMBOAT SPRINGS — Looks like the first buyers to get in on the Fox Springs Condo project off of Hilltop Parkway and U.S. Highway 40 got a deal. K and K Builders offered the first condos in Steamboat Springs for as low as $355,000 but construction costs and demand have hiked prices. All the condos in the first two phases of the project have sold out except two, which are now priced at $415,000.
Well-known local builders Kim and Peter Kreissig are behind the development, which prohibits short-term rentals. The idea was to make sure the condos stayed in the locals’ pool of housing. It appears they’ve succeeded.
“I would say most buyers are split between local retirees and 30-year-olds,” said K and K Builders business manager Cheryl Garrity. “Out of the first nine units, four buyers are 30-somethings, two are retirees and three are investors who are going to put them in the long-term rental pool.”
Like most builders, K and K has been struggling with keeping sub-contractors on target since they’re in such high demand. And then, there’s Steamboat weather.
“Snowfall in June and October didn’t help anything,” said Kim Kreissig.
Although the Kreissigs had hoped to get buyers in by Christmas, the roadblocks were insurmountable. Still they expect to see homeowners decorating their new condos by the end of February.
“It’s going to finish out our multi-family building career,” said Kreissig. She said K and K will continue to build custom homes.
K and K’s past multi-family projects include Rocky Peak Village townhomes, priced from $600,000 to $800,000 and Stonewood at Eagleridge townhomes, priced from $1.5 million to more than $2 million.
Fox Springs Condo buildings 5 and 6 should be fully completed by June 1 and include 17 homes.
Buildings 4 and 3 go vertical in late spring 2020. All but two of the 16 homes have been sold. The earliest move-in date for some of those condos is expected by March 2021.
There isn’t a start date for buildings 1 and 2, However, K and K will be taking deposits next spring for the remaining two buildings.
In the meantime, Kim Kreissig said she’s been pleased with how the Fox Springs condos are turning out and credits her husband’s talent for space and design.
“This project was looked over by several developers before us and nobody could figure out how to make that site work,” said Kim Kreissig. “But Peter, I’m just super proud of him, pulled this vision together, along with our civil engineers. It’s coming out of the ground better than we had even hoped.”
Local real estate agents have raved about the condos’ use of high-end doors and trim and note that the condos’ two-plus tandem garages are a big selling point for locals who have a lot of outdoor equipment for their lifestyles. And without extra amenities like a swimming pool or clubhouse, homeowner association fees are set at $250, which covers everything from insurance to exterior maintenance.
Living space comes to about 1,000 square feet. To find out more about the Fox Springs Condos still for sale, visit liveinsteamboat.com/foxsprings.
Frances Hohl is a contributing writer for Steamboat Pilot & Today.
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