While single-family homes have been on the rise in Steamboat’s real estate market for three years, we haven’t seen many multi-family concepts emerge since the 2008 financial crisis—until now. Over the last year, three projects have surfaced: Flat Tops at Wildhorse Meadows, Homestead at Wildhorse Meadows, and Urban Street.

Flat Tops is a neighborhood of 21 home sites near Trailhead Lodge Gondola on Bangtail Way. Homestead is six buildings of three and four bedroom condominiums that live like single-family homes. Urban Street introduces 86 various residences on a six-acre site off Walton Creek Rd.

This activity addresses our aging multi-family inventory while alleviating some of our community housing needs. The willingness of the public and private developers to invest in and advance projects like these is often a precursor to a vibrant market. We’re experiencing substantial speculative investing as entities with financial resources are becoming less risk adverse about returning to Steamboat real estate.

Combined with other major developments—the ski area sale and potential redevelopment of the base, the infrastructural commitment to Riverwalk at Yampa and Third, and the 87 room Homewood Suites by Hilton on US 40—the multi-family ventures reveal a renewed enthusiasm in Steamboat’s market.