The ECT was advised this past week that the Hermes development in Wolcott (~1,100 acres) will start construction this Spring 2014. ECT also told that the remaining water rights issues have been cleared and completed with our local water district…
First up for Construction in Wolcott? Moving Rte. 6 in Wolcott to it’s new location along side I-70 – a move from it’s current path in Wolcott along the Eagle River. Roughly speaking that’s about from the Eagle Springs Golf Course covered bridge to the Rte. 6 & Rte. 131 Bridge in Wolcott.
This is somewhat of an interesting Eagle County development because Eagle County today is full of Approved and currently Stalled Development efforts…
– Avon (Traer Creek) west of the Wal~Mart
– Eagle (Trinity Red) Eagle River Station
– Minturn (“GinnTurn” now bought by Dean Adler) the approved new private (Battle Mountain) Ski Neighborhood.
– Vail (Vail Resorts EverVail) Approved – no Construction activity to date
What we know…Eagle County through the Planning Commission and BoCC approvals have made it about as expensive for the Developer as they possibly could. Then our Water District stepped in and advised Hermes Development – that the cost of the Water required was going to be very expensive as well. (OBTW – anybody know where Eagle County’s Open Space Advisory Committee has been on this one??)
Also we know that – in 2010 (~2,000 new homes) starting at $250K were proposed for the Wolcott Development (Click Here)
What we don’t know is…how, now after 4 years and additional costs to the Developer…how are they going to meet those “affordable housing” Price Points in today’s market? Anybody know where the new Jobs are going to be created, that will provide sufficient income for a young family to qualify for a new home mortgage?
Time will tell. The ECT would sure like to see more reasonable Gasoline Prices at the new Wolcott Kum & Go station. How about you?