Steamboat Springs Yampa Valley Electric Association has purchased just less than 7 acres of commercial land on Elk River Road.
The land, directly adjacent to a substation and parcel already owned by YVEA, was acquired to secure “options for future growth in the event that” it needs to relocate, according to a news release.
“With constrained property options in the Steamboat area, it’s prudent to ensure that we have reasonable options for relocation in the near future,” Diane Johnson, general manager of YVEA, stated in the release.
The sale price was $640,000, according to YVEA’s Melissa Watson.
In June 2012, YVEA purchased 70 acres of land that once was planned for a subdivision on Steamboat’s west side for $2.025 million in cash.
At the time, previous general manager Larry Covillo said the YVEA board had made hunting for land a priority.
YVEA would like to eventually move its headquarters on Yampa Street and its equipment yard south of Howelsen Hill Ice Arena out of the downtown area.
The parcel that YVEA previously owned on Elk River Road is 13.9 acres, bringing the total area available with the new purchase to about 20.7 acres.
Watson said there are no official plans for the land yet and that no firm decisions have been made as to where the rural electric cooperative someday might move from downtown Steamboat.
Real estate prices are forecast to climb, Watson said, and this purchase was made to keep the utility’s options open.
To reach Michael Schrantz, call 970-871-4206, email mschrantz@SteamboatToday.com or follow him on Twitter @MLSchrantz