Silverthorne seeks developer for housing project Smith Ranch | SummitDaily.com

Silverthorne seeks developer for housing project Smith Ranch

Silverthorne is asking developers interested in building a 180-200 unit residential workforce housing project at Smith Ranch on Colorado 9 to submit proposals. The deadline for submission is July 25.

Silverthorne is looking for the right developer to spearhead a new workforce-housing project at Smith Ranch, which includes more than 51 acres of land that could accommodate an additional 180-200 new residential units.

Like the rest of Summit County, Silverthorne is experiencing steadily rising housing prices, a lack of inventory and tight rental markets. Exacerbating the problem are the sales of existing housing units to second-home owners and retirees.

As a result, voters approved in 2006, and again in 2016, a sales tax and impact fee to pay for affordable-housing projects, and the Smith Ranch Neighborhood has been identified as the top priority for that money, according to documents produced by the town.

The Smith Ranch property sits in north Silverthorne along Colorado 9, between Ruby Ranch Road and Willowbrook Road, and it breaks down into two unique parcels — Smith Ranch Residential and Smith Ranch Commercial.

The commercial property includes 11.2 acres directly along the highway and is described "as one of the few remaining large parcels of land zoned for commercial development in Silverthorne," or a key piece of property for the town's ongoing economic development efforts.

"We purchased that (land) because we'd like to control it," said town manager Ryan Hyland, adding that town officials hope to help a grocery store move into the location.

Recommended Stories For You

Considerably larger than the commercial portion of Smith Ranch, the residential piece includes 51.5 acres set back from the highway, behind the commercially zoned property.

"Although some of the property may be utilized for other purposes and the line between the commercial and residential can be 'blurred,' the property is seen as the location for neighborhood commercial uses that serve the surrounding residents," according to the town's request for proposals.

"Both properties are envisioned as collaborating to create a dynamic neighborhood with workforce housing, neighborhood commercial with a mix of uses, as well as a daycare facility and a fire station, and possibly a public safety facility," the request continues.

Ideally, the Smith Ranch Neighborhood would feature a majority of owner-occupied, single-family duplexes and townhomes, according to the request. Also, town officials are willing to consider a mix of deed-restricted and market-rate rental and ownership units at Smith's Ranch.

The deadline for developer's proposals is 4 p.m. July 25, and the team selected for the project will be responsible for:

• Creating a development program in partnership with the town and a mutually acceptable business plan;

• Preparing a site master plan, interior and exterior architectural designs, a transportation and circulation plan and civil, drainage and water resource protection plans;

• Soliciting public input and handling various applications;

• And construction and marketing.

Potential developers are also being asked to identify the team, including their architect, engineer, landscape architect, builder and marketing consultant. They should also provide financial statements from the last year, a land-management plan, development schedule and pro forma business plan, which focuses largely on project financing and any subsidies, incentives and personnel resources that might be requested of the town.

Proposals will be weighed based on the developer's experience and financial capability, project aesthetics, income targets, unit type and size, level of subsidies, long-term affordability, schedule, quality of construction, energy efficiency, and other measures, according to the town.

IF you go

What: Community Open House

When: 4-6 p.m., June 19

Where: Silverthorne Pavilion, 400 Blue River Parkway

Info: Members of the community are invited to attend a Community Open House regarding Smith Ranch and housing options for Silverthorne.

Go back to article