Diane Brower: Community will benefit very little from West Steamboat annexation
The number of market-rate homes in the West Steamboat Neighborhoods is projected to be about 350. They will cost what market-rate homes within existing city limits cost — $600,000 and above (well above).
The number of deed-restricted units in West Steamboat Neighborhoods is about 108. But those aren’t all single-family homes. Sixty-one of those 108 units are projected to be apartments, condos and townhomes in the price range of $332,500 to $420,000, in size from 950 square feet to 1,200 square feet.
Twenty-four of the 108 units are projected to be duplexes, projected to be 1,008 square feet and 1,287 square feet, in the projected price range of $348,800 to $386,100. There are projected to be a grand total of 23 deed-restricted single-family homes, from 1,250 to 1,544 square feet, projected to cost $430,000 and $446,216.
That would be 350 market-rate single-family homes and 23 deed-restricted single-family homes in the West Steamboat Neighborhoods. Notice my frequent use of the word “projected?” These numbers come from Exhibit D in a earlier version of the annexation agreement when the developer was actually projecting costs and square footage.
There is nothing in the current annexation agreement that assures or guarantees that the numbers of units, types of units, sizes of units or prices of units won’t change when the developer’s costs increase. And of course, they will over the 10 year build-out period for the deed-restricted Gateway neighborhood.
On the subject of the 10 year build-out period for Gateway, the annexation agreement states that as soon as the construction on one deed-restricted unit begins, the developer can begin building market-rate homes. Those individuals who hope to buy the 23 small single-family homes and the individuals who hope to buy the 24 small duplexes could be waiting a number of years for the possibility that they would be chosen in the lottery to purchase a deed-restricted home.
The developer donated 2 acres to the Yampa Valley Housing Authority, but taxpayer dollars will be used to build the projected 50 high-density rental units on the land if that ever happens. It’s hard to figure why some people actually think that this is a good deal for the community.
There will be no homes in the affordable, entry-level category. The city and our community will benefit very little from this deal and could be left holding the bag for costs of transportation improvements and the unanticipated costs that usually come to a city when it annexes land.
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