How Would a Big-box Store Disturb Pagosa Springs CO Properties?

It currently appears likely that a large retailer will be built in Pagosa Springs, CO. Apart from the concern with how a big retailer would shape our community's appeal, we are interested in how it would have an effect on Pagosa Springs, Colorado home prices. The construction of a Big Box store in Pagosa Springs has been a contentious proposal for many years. The two main areas of conversation have been the fiscal impact and the potential changes to our area's atmosphere. In this Here, we will focus upon the result on Pagosa Springs, CO real estate property values.

A press release was issued jointly by the Archuleta Board of County Commissioners, the Town of Pagosa Springs and the Pagosa Springs Community Development Corporation in September 2010. It made the announcement that a big retail store is sincerely thinking about the development of a facility in the Pagosa Springs area.

We have heard that the vendor is in fact Wal-Mart, and that Pagosa Springs is being considered for their next round of growth in Colorado.

The location being considered (on the northwest corner of Vista Boulevard and U.S. 160) is actually beyond the town limits, on the west side of town. In the past, the Sawmill Road area on the southeast corner of the intersection of U.S. 160 and 84 has also been considered a prospect for a large-format store compound. This is on the east side of town, and much closer to downtown.

Of course at this point, there is no certainty that this precise project will be completed. It is still in the investigative point. Nevertheless, a Big Box store is bound to make it someday, assuming our community remains healthy enough to draw one. Hence, it is worth taking into consideration the effect on local homes.

The current location under evaluation could definitely cause an economic swing in the direction of the "core area" on the west side of town and away from downtown. This is especially so with the recent passing of our only downtown grocery store, and one of our banks. At the same time, the anticipated site may well promote the developing core area. This kind of a positioning might also work to steer new traffic through downtown and up Putt Hill.

Historic downtown will always maintain the durable and irreplaceable attractions of the hot springs themselves, as well as the accommodations, shops, eating places and additional services operating in the neighborhood. It has the river walk, post office, parks, and nearby fair grounds. There's no cause for downtown to diminish, merely because another destination is 3 miles away. We are talking about a six minute drive, after all. Vacationers staying downtown will probably make additional trips up Putt Hill to visit a Big Box retailer, and thus receive more exposure to the many shops, eateries and other enterprises as they go. In the same way, a Big Box merchant would be expected to lure people from as far as Chama, to the south. If such a store ended up being stationed on the Sawmill land, they would have hardly grounds to venture further.If their destination is on the other side of town, these people will wind up traversing through virtually our entire economic region, thus amplifying the exposure of the many small stores and eateries along the way.

A large merchant may well create a considerable economic boon to the community, as well as Archuleta county, assuming we don't give away too many tax concessions. Lots more local inhabitants will remain in town to shop, more will arrive from nearby localities, and property tax revenue could be sizeable.. The construction by itself would supply a considerable amount of jobs in the short run, especially in the building trades, which have been particularly hard hit. The work opportunities provided by Wal-Mart might not be the best paying, nor with the greatest benefits, however the same can be the case with small owner-operated businesses. The overall employment might not change greatly, however job security might truly improve. Despite the fact that Wal-Mart makes use of many part-time personnel, so do local employers. And this is not all bad. Many parents and semi-retired people prefer the versatility. With bigger income, the county's ability to keep up roads and other infrastructure, as well as to finance our public schools, will be enhanced. This has a direct positive effect upon property values.

In conclusion, we think the coming of a large format vendor will have a positive effect on Pagosa Springs real estate property. Whether or not the particular setting benefits your own home or business will probably rely primarily on the type of home or establishment in question. The proposed site may actually satisfy the adjoining neighbors, who don't dwell in elite neighborhoods. The presence of a big discounter might well improve the value of the site to lower income families and establishments that cater to them. More upscale merchants might do best by locating somewhat away from the discounter's location, if possible surrounded by other shops that pursue shoppers like their own.