The Reserve at Hockett Gulch Planned Unit Development (PUD) was annexed and fully entitled in 2019 to allow 500 total dwelling units largely focused on multiple family housing for the local workforce. The owners are currently in the development plan approval process which is focused on the technical development and engineering standards of the proposed project.
Epoch GCH Hockett Gulch Holdings expects to break ground for Phase 1 of the development in spring of 2022. Phase 1 will include 216 rental units, and the ownership group hopes to have the first units available for lease by summer of 2023. An additional 184 units are planned for Phase 2.
Units at the Reserve at Hockett Gulch are designed to provide high-end finishes and functional living space with a mix of unit types, ranging from studio and one-bedroom units, up to three-bedroom units. All apartments include in-unit laundry facilities, and the two- and three-bedroom units include two bathrooms.
- Outdoor amenities will include parks, play areas, walking and hiking paths, outdoor grilling areas and dog parks.
- The planned clubhouse will provide a workout area and lounge space, work areas, a pet spa and a bike workshop.
- 45% of the 400 rental units proposed in Phases 1 and 2 include a deed restriction requiring local employment.
- The deed restriction includes a provision giving priority for employees of local businesses.
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)