Silverthorne town center will grow even more now that Silverthorne Town Council approved planned unit development and final site plans for Fourth Street North on Wednesday evening April 13.
The the site will include eight buildings – a multi-family dwelling, four mixed-use commercial buildings, a small commercial plaza, a 111-key hotel and a parking garage – situated on just over 4 acres of land. Fourth Street North is an extension of Fourth Street Crossing, another large-scale downtown development that includes the Indigo Hotel and Bluebird Market.
The housing unit will consist of approximately 132 rooms which will be reserved for Summit County employees. There will be two-bedroom, three-bedroom and four-bedroom options, and they will be rented on a “by the room” basis. This means that each occupant will be billed individually for rent and utilities. Currently, the plan is to offer 60% of the rooms at a rent equivalent to the 60% median income threshold for Summit County. For a room, the regional median income threshold of 60% in 2021 is $1,009.50. The rest of the rooms will be rented at the prevailing market price.
City Council member Amy Manka said her first concern when reviewing the site plan was that by treating each room as an individual unit, it could create parking issues for residents.
“I live in workforce housing and we are seeing parking issues,” she said. “Also, I’ve seen, on the internet, people who are in worker housing – for example, in Keystone – know they won’t have parking, but they bring their car. They’re online, trying to find a parking space to rent somewhere, and I just don’t want to see this problem take off here.
When responding to concerns about parking for people who live in the complex, Tim Fredregill, project development manager, said the final site plan had enough space to accommodate the residents they planned to live in. have on the basis of the parking study required by the city.
“(The parking study) proposed a ratio of approximately 0.5 parking spaces per room as an appropriate ratio based on this competitive set. At our property we have more like 0.65 per room, so we parked a little above what was estimated by the parking study,” Fredregill told the city council on Wednesday. “In the event that we have missed again, we have then provided additional parking in the off-site parking structure – this is not an ideal solution. We hope we won’t have to use it, (and) we don’t think we will need to use it. But if we need it, it’s there.
The parking garage will have three levels of parking for 190 spaces, and each mixed-use building in the project also has ground floor parking in addition to some on-street parking. In total, of all available spaces, Fourth Street North will have 404 spaces.
In one corner of the garage, current plans call for a 65-foot climbing wall. Next to the wall are storefronts on the ground floor of the garage, which Fredregill says could be used for local outdoor outfitters or for group bookings looking to use the rock wall. Board member Mike Spry expressed caution with the idea, particularly its longevity and adaptability. Spry said that due to staffing issues with other retailers in the city, it’s unclear if the wall can be fully staffed to remain operational. Fredregill said there is currently no specific contingency plan, but it is possible to dismantle the rock face and replace it with something like a mural.
Mayor Ann-Marie Sandquist said that over the past few months various city leaders have worked to gain final approval for the development of Fourth Street North and move closer to a more complete downtown Silverthorne. The city, which was incorporated in 1967, was created in order to house the workers responsible for the construction of the I-70 tunnel and the Dillon Dam. For this reason, Silverthorne does not have a traditional or historic town center like other municipalities, which is why the town has worked with developers to complete these large projects.
“It was obviously a long process,” she said. “There has been a lot of work, and it seems faster tonight. I want to kind of thank Tim (Fredregill), and I want to thank the staff for all the work you’ve put into this – because I know it’s been a lot.