New construction, high-quality finishes fill a void in Steamboat’s condo market
For the Steamboat Pilot & Today
Editor’s Note: This sponsored content is brought to you by Trailside Village.
Trailside Village breaks ground this spring, delivering much-needed condominium residences minus the high price tag
When the surroundings in Steamboat Springs offer more amenities to residents and visitors than any condominium development could compete with, why not just focus on what matters: quality construction and finishes in a prime location.
That’s the thinking behind Trailside Village, a new development in Steamboat located near the Yampa River, Fish Creek and the Core Trail. With so many condominium options around town showing their age — some buildings are 30 or 40 years old — the market was craving a new product at an affordable price point.
Phase 1 construction breaks ground this spring and the first condos will be completed and ready for move-in by the summer of 2020. Here are some of the reasons why Trailside Village is an essential addition to Steamboat’s condominium market.
Low HOA dues
There hasn’t been a new condominium product in Steamboat in 10 years, said Project Manager Jody Corey. And many of these older properties tend to have high HOA dues, in addition to high capital expenses for things like roofs, sidewalks and repaving.
There are so many exciting things to do outside in this beautiful town than spending time sitting around a sterile pool. Corey said so many of these amenities at other properties sit unused because residents and visitors are out and about doing all the things that brought them to Steamboat in the first place.
“We thought we could bring new condos to the market that are high quality, and in order to achieve low HOA dues, we decided not to have any amenities,” Corey said. “Many of our locals and second-home owners don’t want to pay for them — and they don’t need them.”
– Convenient location between Mt. Werner and downtown Steamboat
– A sense of neighborhood and privacy
– Garage parking for the two- and- three-bedroom condos
– Garage parking for some of the one-bedroom condos
– Secure personal storage units for the one-bedroom condos
– Large green open space
– Pedestrian and bike access to the Yampa Core Trail
– Neighboring Fetcher Park and Fetcher Pond
– Convenient mass transit connections
– Adjoining parks and designated recreation open space
– Low HOA dues
– Pets allowed for owners
Affordable, free-market pricing
With such a strong real estate market in Steamboat, the affordability of homes continues to shrink for many people. Corey said the developers learned that people are craving single-family homes around the area, but newly built single-family homes are hard to come by for less than $1 million.
The pricing at Trailside Village is a little higher than entry-level condos in Steamboat, but when you factor in the low HOA dues, Corey said the monthly payment will be comparable to condos that are 15+ years old.
HOA dues at Trailside Village, which include cable and internet, are based on square footage. Dues will range from $150 to $350 per month.
Trailside Village is centrally located between the town and the mountain, right off Highway 40. Its name, Trailside Village, references its proximity to the bike path, which will provide residents easy access to anywhere in town.
With hiking, fishing, tubing, shopping, a bus stop, medical center and restaurants all just steps away from the development, residents will have everything they need and more right at their fingertips.
“This location really fits a void that we have in the Steamboat market,” she said. “It’s a pretty neat hub on one of the last chunks of land in Steamboat to be developed.”
Lowest pricing for early buyers
The three buildings that make up Phase One will be the least expensive buildings in the project. Corey said it’s likely that prices will come up as the market rises and as phase one nears completion. Trailside Village is currently taking pre-construction contracts that would close early in the summer of 2020.
“If you get one under contract now, you’re holding this value without having to pay your mortgage until completion — so you can lock in the lowest price now and have your pick of the best condos,” she said.
There’s no definitive timeline for when all four total construction phases — which will total 180 residences including one-, two- and three-bedroom floorplans — will be complete. Given the trajectory of construction prices, Corey said those who lock in their condo purchase now will enjoy the greatest value.
Trailside Village is also unique at this price point due to the construction that’s typically only seen in high-end resort-style properties.
Standard finishes include stainless steel appliances, quartz countertops, luxury vinyl plank flooring, 9-foot ceilings, fans in all rooms and designer light fixtures.
The builders are also insulating the units beyond what the building code requires, which Corey said not only adds energy efficiency, but will also make each residence quieter.
“These buildings are going to feel very solid, she said. “ We are committed to putting out a quality product that people are going to be happy about. We want our owners to be excited about their investment.”
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