Construction has picked up at a small La Plata County development that’s marketing affordable lots three miles east of town.
Phase two of Spring Creek Village off Florida Road is underway, with 17 individual lots under one acre that are available for $115,000. Slightly smaller lots for sale in phase one are priced at $99,900.
The project was approved in 2016.
According to Durango Area Association of Realtors statistics for 2016, the average price of land in La Plata County for lots under one acre was $115,152. The median price was $127,000, and the high was recorded at $305,000.
Though they offer more acreage, buildable lots in other active, local developments close to city boundaries, including Edgemont Highlands, are priced at $140,000 and above, according to listings. “The intention with the products at Spring Creek Village is that they’re priced so that buyers hopefully can build attainable housing,” listing agent John Wells said. “Finding a home site in the lower hundred-thousand range is difficult. This is an opportunity for builders and homeowners.”
The 38-acre Spring Creek Village contains a total of 24 lots, including a seven-lot subdivision built in phase one. Lots are available in both phases, and recent construction activity at the site has piqued buyer interest, listing agent Teresa Stephenson said.
Three lots have sold in phase one, leaving four on the market. Three have sold in phase two, another two are under contract and 12 are available.
The parcels have space to build from 1,300- to 3,000-square-foot homes.
Individual lots in phase two have sold to a mix of families who want to build for themselves and contractors building spec homes, Stephenson said.
Wells said spec homes likely will be priced in the $400,000 to $500,000 range.
Phase two went to market last year earlier than scheduled because of interest in the development, Stephenson said.
“They’re all ready to go; they’re ready to build,” she said.
Because Spring Creek Village is a county development just beyond city boundaries, residents have city water and sewer access without paying metro district taxes.
The development includes trails, a playground and park area and a designated dog walking area.
Tom Stille, a partner in Spring Creek Village LLC, said the goal of the project was to keep costs down and offer families an opportunity to live outside of Durango with access to city amenities.
“There are enough higher-end lots outside of town, and we thought they were unaffordable for typical families,” Stille said. “This is close to town and good schools, and we thought it would be great to offer lots at a decent value that were somewhat affordable by Durango’s standards. A lot of homes are $500,000-plus, and we want these houses to be in the $400,000 range.”
Stille said the lots have generated a lot of interest from families with young children.
He said there are no plans to develop more than the 24 lots in the plan initially approved, so Spring Creek Village will remain a small, single-family residential community.