On the market: A rare downtown development opportunity
- Soda Creek runs through the property
- Located in beautiful Downtown Steamboat Springs
- Only a block away from the Yampa River
- Across the street from Bud Werner Memorial library
- Great access to shops, stores, restaurants, and parks
- Approximately three miles from the Steamboat Ski Area
- Six lots with Lincoln Avenue/Hwy. 40 frontage
- High visibility to drive-through traffic
- Spectacular views of Howelsen Hill
- Building with modern offices and retail space on the ground floor
- Retail spaces
- Combination of commercial and residential spaces
- Restaurants and shops
- Multi-use building
- The creek’s banks could be shored up and lined with walkways, benches, and attractive landscaping
Nearly an entire block of prime real estate is available in the heart of Downtown Steamboat
By Lauren Glendenning
Brought to you by Sunny Brstina, Steamboat Sotheby’s International Realty
It’s not often that 11 ½ city lots with a prime downtown location become available in any ski town, but that’s exactly the development opportunity that has arisen in Steamboat Springs.
The Western Lodge Motel and surrounding lots are listed for sale as one 1.74-acre property for $11.9 million. In addition to the motel, there is a residential duplex and warehouse building currently on the property, which sites between 11th Street, 12th Street, Oak Street and Lincoln Avenue, just one block from the Yampa River. But what exists there today isn’t what makes this property as intriguing as the development potential that has listing agent Sunny Brstina, of Steamboat Sotheby’s International Realty, most excited.
“This opportunity is really about the extremely rare offering of 11 ½ city lots in the middle of downtown Steamboat Springs,” she said. “I see this as a ground-up project that could become one of Steamboat’s most iconic properties.”
The motel owners recently added one more lot to the overall property listing, which Brstina said was the missing link needed to create a complete development opportunity. That lot, at the corner of 12th and Oak Streets, changed the game because now it’s possible to create full access from 12th Street and Oak Street.
“The addition of that final lot to the overall parcel changed the big picture for what could be possible on this property,” Brstina said. “Now, there is essentially almost an entire block of prime City lots between Oak, 12th, Lincoln and 11th, in the heart of downtown Steamboat.”
Brstina said that all developments are of course subject to city approval.
“Downtown Steamboat is primed for redevelopment in this location, with several different possibilities to fulfill desired niches that are not currently served in the area,” Brstina said.
Amenity for downtown Steamboat
As you enter Steamboat from the west, this property is the first thing drivers see on the left at the gateway to the iconic stretch of downtown Steamboat’s “Main Street.” It’s walking distance from restaurants and shops, as well as Colorado Mountain College.
There are spectacular views of Howelsen Hill, and Soda Creek runs right through the property.
Because downtown Steamboat currently lacks a boutique hotel, Brstina envisions a development that includes luxury hotel rooms, commercial space, much-needed modern downtown office space, underground parking and condominiums.
Given what’s on the property now, the City of Steamboat Springs doesn’t currently see much tax revenue from this block, according to Brstina. In addition to beautifying the property, a new, mixed-use development could provide a nice boon to city coffers.
Brstina has worked with a 3D modeling firm to create a theoretical design to help potential buyers see what could be possible. She’s confident the right developer will achieve a plan that can be embraced by the community.
Brstina’s hypothetical concepts for the property include a mixed-use building along Lincoln Avenue, a multi-use condominium/retail building along Oak Street with underground parking entrances from Oak Street and 12th Street, a three-story hotel using the existing Western Lodge foundation, a small warehouse building behind the three-story hotel and outdoor features that complement the beauty of Soda Creek.
“The opportunity to enhance the downtown Steamboat Springs landscape and to become part of the legacy of this incredible Rocky Mountain resort town, while also exploring a development with excellent return-on-investment potential, makes this a truly unique and special offering,”
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Work to form a new strategic plan for the Steamboat Springs School District will start next week with the first sessions of a listening tour aimed at getting broad community feedback.