Programming
The proposed PUD allows for up to 500 dwelling units and 30,000 square feet of commercial space.
Residential
The Conceptual Plan shows the likely Phase I consisting of:
- 396 rental apartments
- 1 & 2 bedroom formats
- 3-story walk-up buildings
- 45% of rental units would be deed restricted to local workforce (no income restrictions)
- Priority for workforce housing will be given to the following organizations, in this order:
- Town of Eagle
- Eagle County
- Eagle County School District RE50J
- Greater Eagle Fire Protection District
- Eagle County Health Service District
- Mountain Recreation District
- Phase II may be a variety of townhomes, apartments, single-family homes or ancillary commercial.
- 15% of any for-sale units would be deed restricted to locals, including income restrictions
Commercial
The PUD also allows for limited commercial space along Highway 6 / Grand Avenue or Sylvan Lake Road
- Up to 30,000 total square feet
- Max 15,000 square feet on Sylvan Lake Road
- Small local retail or commercial spaces
- Designed to complement existing offerings
Projected Financial Benefits
Annual Revenues to Town of Eagle: $1,336,349 (at Stabilization – 2027)
• Includes $82,000 through a private Real Estate Transfer Assessment for Grand Ave improvements or Open Space and Parks
One-time Fees to Town of Eagle: $16,543,902
• $4,251,137 in Water Plant Improvement Fees
• $3,593,000 in Sewer Plant Investment Fees
• $1.31 million in street improvement fees ($1 million over code requirement, to address Grand Ave improvements)
• $668,000 in Public Safety Impact Fee
• $662,000 in a private Real Estate Transfer Assessment
Annual Revenues to Other Entities: $831,949
(Such as School District, Fire District, Ambulance District, Colorado Mountain College)
Tentative Hearing Schedule (check back for confirmed dates)
Planning & Zoning Commission
February 5, 2019 6:00pm: P&Z Hearing 1
Eagle Town Hall Council Chambers
200 Broadway
Eagle, CO 81631
Town Board of Trustees
March 12, 2019 6:00pm: Town Board of Trustees Hearing 1
April 9, 2019 6:00pm: Town Board of Trustees Hearing 2
May 28 2019 6:00pm: Town Board of Trustees Hearing 2
