Granby eyes new housing boom in 2018
A big construction boom could soon be in the works for the Granby area as town officials begin reviewing development plans for a slew of housing and potential commercial projects in Grand County’s largest municipality.
The biggest project currently in the works for the Granby is an workforce and attainable housing development being planned by Sun Communities. Sun is currently in the midst of a lengthy planning and negotiation process with the town to purchase several hundred acres of land on the Shorefox property north of Granby proper. Sun’s project plans are broken down into two main areas: the RV resort Sun plans to build in the center of the Shorefox property on roughly 300-acres.
Additionally Sun is also working on an additional housing development project, which if approved will also be located on the Shorefox property. According to Granby Town Manager Aaron Blair the town has entered into a purchase agreement to sell an additional 61-acres to Sun for a price tag just shy of $1 million. The parcel is located in the wedge of land located between Highway 40 to the west, Highway 34 to the south, the Colorado River to the north and the Shorefox property ponds to the east. The property is located adjacent to an extensive wetlands area adjacent Highway 40.
Sun anticipates constructing approximately 350 housing units at the Shorefox housing development which would be a mix of both workforce housing, for employees of Sun’s future RV park, and attainable housing up for purchase by local full time residents. Blair said he did not know how many units would be for sale and how many would be for lease but expects significant numbers of the units to be offered as affordable housing.
Blair added he did not yet know the expected price range of the affordable housing offerings but noted Sun acts as the financing agent and operates under a land lease ownership paradigm wherein buyers of units own the building but not the land, similar to the purchase of a condo.
Blair was fairly confident in the Sun housing development coming to fruition, barring any unforeseen hiccups.
“This is not some pie in the sky thing,” Blair said. “They are moving forward with this project.”
The development is now moving through the standard construction approval process for the town. Granby expects applications to rezone the property before the end of the year and building and site plan submissions sometime early next year with hopes for construction beginning in late spring or early summer 2018.
Granby may also soon be getting a new senior housing development. Developer HRM Services, based out of Missouri, is currently in discussions with the town to construct a three story, 48 unit, senior housing development on Granby’s Agate Ave./Highway 40. Blair said the project is just in the preliminary planning phase but town officials are optimistic about the project’s potential to become a reality.
The developers plan to apply for affordable housing funds through the Colorado Housing and Finance Authority (CHFA), which provides grants for such projects. According to Blair development of the senior housing units is contingent upon receiving those funds, at least at this stage. However, Blair said the town believes this project has a strong chance of receiving the funds. The developer should hear from CHFA regarding the grant funding sometime during the summer of 2018.
The senior housing development would see the construction of 30 two bedroom units and 18 one bedroom units.
Granby also has several other projects potentially on the docket. A development and construction company called Royal Oak has moved to purchase 20 lots in the Eagle Ridge area of the Grand Elk subdivision near City Market, with plans to construct roughly 20 townhouse units for sale. The lots, which were originally acquired by the town – acting as the Grand Elk Improvement District – as deeds in lieu of foreclosure, were sold for roughly $10,000 each.
Blair said the Eagle Ridge area contains roughly 110 lots under the control of the town and that Royal Oak has tentative plans to acquire the remainder of the lots over a series of phases.
Additionally three other development companies have broached talks with town officials about a potential projects. One company is considering an affordable housing development near the Flying Heels Rodeo Arena, while two other developers are looking at downtown lots in Granby with hopes of constructing combined retail and housing units along Agate. Discussions with those three developers are in the earliest stages with no formal action yet taken.
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