Former Bear Valley Inn to be converted to long-term housing
Like the Elk Run Inn — which was recently purchased by realtors in Steamboat Springs — the former Bear Valley Inn will be converted into long-term housing after years of being a resource for short-term lodging for visitors passing through the community.
According to a local real estate agent at Country Living Realty, Andrea and Axel Foley, a couple from Omaha, Nebraska, purchased the building for $700,000. Andrea Foley said that they looked at several small communities to venture into long-term housing, and Craig was the best fit for their project.
“We were looking for a community where housing was needed,” Foley said. “We knew in the time and cost it takes to create new apartments, affordable housing (in Craig) is going to take forever. So we just thought that taking hotels and converting them was the quickest and easiest way.”
She added the initial idea came from conversations about how COVID-19 would inevitably affect the hotel industry, and that hotel owners in several potential locations were looking to sell their property. With four hotels for sale in Craig alone at the time of their purchase, she said that the Bear Valley Inn was the one for them.
Now called the Deer Valley Apartments, the former inn will be converted into single units for rent. In total, the complex will have 31 apartments available. The property will be managed by Country Living Realty, and units will be available for month-to-month and long-term leases. Furnishings for units include most kitchen utilities, a television, bed frame, kitchen furniture and a microwave.
“We’re pretty much stripping the rooms down,” Foley said. “Everything is going to be new, and we’ll reuse the microwaves and some of the furnishings, but each unit will have new kitchens and fridges. We’re also adding new flooring and paint.”
Since the units are studio-style (meaning there are no separate rooms or walls that divide bedroom and kitchen space), Foley said additional storage space will be added to each unit. All utilities and WiFi will be included with the rent. Unremodeled units (without a kitchenette) will cost $750. Remodeled furnished units that include kitchenettes will have varying prices, based on the size and lease term.
Foley said that she hopes that two units will be ready by the middle of September, followed by another two by the end of the month. The rest of the units will be available within the next three to four months, and several of the units have already been claimed.
“We have absolutely loved the property and everyone here has been really great,” Foley said. “It’s just been an easier experience than we imagined. I’m very pleased that this is our first community.”
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