Builder plans new Craig apartments
A Steamboat Springs company is planning to build a new apartment complex in Craig starting sometime in August.
Steamboat Engineering and Architectural Design hopes to build the Pine Ridge Townhomes and Apartments on Douglas Street just off of West First Street.
The plan calls for 22 total units — two four-plexes and seven duplexes — and they will be available for rent or purchase.
Doug Ogden, the owner of the property, said he decided to start building after checking with local real estate offices on the need for more housing in Craig.
“It was an investment opportunity,” he said. “We’ve talked to real estate companies and they told us to hurry up.”
Ogden said if everything is approved by the city, he anticipates breaking ground on the project in August and finishing by 2007.
“This year we hope to build two buildings,” he said. “Then, next summer, we’re really going to give her hell.”
Ogden also said he considered Craig’s economy when he decided to put in a new complex.
“The Craig economy isn’t based on weather,” he said. “There is always going to be a need for housing.”
Not everyone agrees.
John Barr, the president of the Yampa Valley Landlord Association, said he doesn’t see a need for a new complex in Craig because the market for apartments in Craig often fluctuates.
“I’ve seen in the past 10 or 11 years there is a phase here in Craig where it comes and goes,” he said.
Barr also said he believes renting an apartment in a new apartment complex would be expensive.
While Ogden is unsure how much he would charge to rent or buy one of the properties, he said they will be reasonably priced.
“We’re not going to gouge anybody,” he said. “It’s going to be a fair price for living in a nice area.”
Barr doesn’t think the new complex will have a negative impact on any of the other apartment complexes in Craig.
“We really welcome any kind of new business,” he said. “I hope they do well.”
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