SILVERTHORNE - Depending on who you talk to, a proposed loft-style development in Silverthorne could either be the key to creating the feel of a vibrant town center along the Blue River or simply an oversized building out of place with its surroundings.

Developers from the Florida-based Greenwald Group have proposed the 92,917-square-foot, four-story Blue River Lofts at 421 Rainbow Drive, a 1.28 acre plot of land owned by Allen Greenwald across from the Silverthorne Recreation Center and nestled against the Blue River.

Right now, the plans call for the building to rise 50 feet - 15 feet higher than the maximum height allowed in that area of town, although Greenwald vice president Jerry Miller said he is looking at options to reduce the height by at least a couple feet.

The sketch plan includes two levels of underground parking, a ground level with space for commercial uses like a coffee shop, a bakery, a day spa and a wine bistro, and three additional levels to house a mix of 37 studios, one-bedroom and two-bedroom condos.

Miller, who's long-established employer has developed lofts in southern Florida and Las Vegas, said he envisions the project cultivating a community atmosphere where residents can easily walk to shopping, to the park or to the Rec Center and visitors can stroll along the river, stopping at the Blue River Lofts for a cup of coffee or a plate of tapas.

But, others are concerned that the sheer size of the building won't fit in that area of town.

"I think the (town) staff had it pretty well pegged - it doesn't meet the height requirements, it's rather massive, I think it's an inappropriate development in that neighborhood," said Silverthorne Planning Commissioner Bob Kieber.

Kieber was one of two planning commissioners who voted against Greenwald Group's sketch site plan and sketch planned unit development (PUD) on Nov. 14. The plans garnered three votes in favor, and passed. The Silverthorne Town Council will vote on both items Dec. 13. If they pass then, the planning commission and the town council will see the plans again on final review, and the PUD two more times before it's a done deal.

Commissioner Stuart Richardson voted yes on the sketch plan, but said his nod of approval was primarily to pave the way for the town council to offer its input.

"It's a good project, but it's too tall," Richardson said. "The only reason we passed it was to let council see it and everything else. If it stays in its current shape, I won't vote for it the next time around."

Miller understands that height is a sensitive issue, but believes four stories are necessary to provide enough density to make the project successful.

Silverthorne resident and Economic Development Advisory Committee member Ron Bristol agrees. Bristol said that the EDAC has discussed the need for critical mass for a town center concept to work in Silverthorne, and has identified the area around the Silverthorne Pavilion and Phase 2 of the Town Center as the ideal location for a center. The Blue River Lofts would be situated directly across the Blue River from those developments.

"To get the density you need to make a project like this viable economically, you need a lot of units, honestly, so is the height an issue? I don't know, but you need the extra floor, or the extra story, it seems like to get enough units to make the project work," Bristol said, speaking independently of the EDAC.

But, Commissioner Richardson is concerned the Blue River Lofts won't solve the critical mass problem because locals will be priced out of the housing, leaving only potential second-home owners to purchase the condos.

"If you want to increase business density down there you need people all year round," Richardson said.

Miller said he hopes to sell the condos to people who want to live in Silverthorne full-time, and has already heard interest from Front Range folks who want to relocate their homes and businesses to the mountains.

He's looking at pricing the condos, which he described "higher end," at about $375 to $425 per square foot, putting a 694-square-foot studio at about $277,600 or a 1,582-square-foot two-bedroom condo at $632,800.

"We want to make them I wouldn't say affordable, but I would say priced with a lot of value," Miller said.

Even if Greenwald Group's plan gains the approvals it needs from the town, it still may face some resistance from neighbors.

Eric Hagmeyer owns the Alpen Hutte Lodge - which is for sale - next door to the proposed Blue River Lofts. He's not only concerned about the 50-foot height blocking his sun and turning his parking lot into an "ice rink," but he also fears the Lofts' proposed entrance to the parking garage near his property line would invite early morning deliveries to the commercial businesses that would disrupt his overnight guests.

Miller has already been working with the town's community development department for well over a year on mixed use concept that will benefit the entire town, and said he'll continue to strive to meet that goal.

"We've done a lot of projects; we try to work it out so it's a net positive for everybody," he said.



What's next?

The Silverthorne Town Council is scheduled to consider the Greenwald Group's sketch PUD and sketch site plan at its Dec. 13 meeting at the Silverthorne Town Hall.



Nicole Formosa can be reached at (970) 668-3998, ext. 13625, or at nformosa@summitdaily.com.