Steamboat Springs is buzzing with the news of “The Stockman,” a $500 million hotel and condominium project poised to transform one of the last undeveloped lots at the base of Steamboat Resort. For Team Yazbeck and the broader Steamboat Springs real estate community, this monumental project signals both exciting opportunities and critical challenges for the local market and the community at large.
A Game-Changer for the Base Area
The Stockman, located between Slopeside Grill and T-Bar, is set to be a centerpiece of luxury and sophistication. With 41 hotel rooms and 204 condos, this development is worth more than double the value of all construction in Steamboat Springs in 2023. As a comparison, total new construction last year hit a record $228 million, highlighting just how significant The Stockman is in scale and investment.
This project also includes a public promenade extension, contributing to the aesthetic and functional improvement of the base area. Once considered an underutilized space, the area around Ski Time Square Drive will now serve as a hub of activity, luxury, and community engagement.
For Steamboat’s real estate market, this project represents a signal of continued growth, drawing attention to the ski town as a high-demand location for upscale properties and investment opportunities.
Opportunities for the Real Estate Market
From Team Yazbeck’s perspective, The Stockman presents undeniable opportunities for the real estate market:
- Increased Property Demand: The introduction of a luxury hotel and high-end condos will elevate the appeal of the base area, likely driving demand for nearby properties, whether for vacation homes or rental investments.
- Market Value Growth: As the area develops, it’s reasonable to anticipate that nearby property values will rise, benefiting current homeowners and investors.
- Community Access: The ground floor of The Stockman is designed to be a zero-entry public space, welcoming locals and visitors alike. This open design reflects a commitment to creating an accessible, inclusive environment amidst the luxury.
The Housing Affordability Conundrum
While The Stockman is an ambitious project that will boost Steamboat’s economy and appeal, it brings to light a challenge the community continues to grapple with: affordable housing.
Unlike some developments that include housing contributions, The Stockman does not feature any affordable housing requirements. This decision reflects the absence of mandatory inclusionary zoning regulations, which were repealed in 2019. Without such requirements, the responsibility for addressing Steamboat’s housing needs continues to rest with the city council and the broader community.
As council member Joella West aptly stated, “We are not in a position to ask the developer to solve our housing problem at that level. … They are solving a different problem that is also important here.” This comment highlights the dual realities of economic growth and the need for balanced, thoughtful planning.
Implications for Steamboat Springs
While The Stockman will undoubtedly bring increased tourism, tax revenue, and economic activity to the region, the city will also face new demands on infrastructure, services, and transportation. For the local community, this means adapting to growth while advocating for sustainable solutions that prioritize both economic and social well-being.
At Team Yazbeck, we believe this development underscores the importance of a collaborative approach to Steamboat’s growth. As we celebrate the opportunities presented by The Stockman, we also remain committed to supporting solutions for the challenges facing our community, including housing and infrastructure.
Looking Ahead
The Stockman is more than just a development—it’s a signal of Steamboat’s evolution as a world-class destination. For buyers and investors, this is an exciting time to explore opportunities in Steamboat Springs. For locals, it’s a reminder of the importance of advocating for smart growth that balances luxury with livability.
As your trusted real estate advisors, Team Yazbeck is here to help you navigate the changes ahead. Whether you’re interested in properties near the base area, considering an investment, or looking for a home that fits your lifestyle, we’re ready to guide you every step of the way.
Let’s work together to elevate your real estate experience in Steamboat Springs.
Contact Team Yazbeck Today
Stay tuned for more updates on The Stockman and its impact on our community!
