Will a Big-box Retailer Concern Pagosa Springs Colorado Real Estate Property?

It now appears likely that a Big Box retail store will come to Pagosa Springs. We have seen quite a few dialogue with reference to the way such a store could change our community. Now we take a closer look at the effect it would have on our Pagosa Springs real estate property values. The construction of a Big Box store in Pagosa Springs has been a contentious proposal for many years. The primary subjects of discussion about town are the ways the character of the town could be changed, and the bearing on the economy. At the moment, let's look closer at the exact ways that properties, business and real estate in general will be influenced.

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

In fact, it is our understanding that the company involved is Wal-Mart. Supposedly, we are on the short list of possible development sites for the state.

The place under consideration (on the northwest corner of Vista Boulevard and U.S. 160) is in fact outside the town limits, on the west side of town. The other location that has attracted speculation over the years is the so-called "Sawmill property" situated on the southeast corner of the intersection of U.S. 160 and 84 (on the east side of town).

This project is clearly still in the exploratory phase, and the store may not be built (at least for now). Nonetheless, a Big Box retailer is likely to turn up at some point, assuming our town remains strong enough to draw one. Therefore, it is worth thinking about the effect on local homes.

The current location under evaluation would undoubtedly cause an economic shift in the direction of the "core area" on the west side of town and away from downtown. This is especially true with the recent loss of our only downtown grocery store, and one of the banks. Simultaneously, the anticipated spot might benefit the growing core area. Such a placement might also function to direct extra traffic through downtown and up Putt Hill.

Historic Downtown Pagosa Springs, Colorado is of course home to our eponymous hot springs, in addition to the hotels, restaurants, stores, and post office nearby. These are not going to disappear. Vacationers staying downtown will most likely make even more visits up Putt Hill to drop in on a Big Box retailer, and consequently get more exposure to the many stores, dining places and other businesses as they go. Likewise, a Big Box retail store would be expected to entice buyers from as far as Chama, to the south. If such a store were stationed on the Sawmill land, they would have little reason to venture further.If their destination is on the other edge of town, these people will wind up traversing through nearly our whole economic area. This will boost their exposure to the numerous small stores and eateries along the way.

If it turns out that the county does not churn out excessive tax concessions to attract a Big Box store, the additional income from indigenous patrons remaining in town, other buyers coming in from different areas, and the increased property tax revenue would be in the hundreds of thousands of dollars. During the construction phase, the project would be a boon when we seriously could do with one. The positions provided by Wal-Mart may not be the best paying, nor with the highest benefits, however the same can be the case with small owner-operated employers. The overall employment may not vary a lot, but job security might actually progress. Although Wal-Mart makes use of many part-time workers, so do local employers. Furthermore this is not all bad. Many parents and semi-retired people desire the versatility. Added revenue and tax money makes it feasible to better finance our neighborhood services and infrastructure, which consequently improves real estate prices.

In conclusion, we believe the coming of a large format vendor will have a positive effect on Pagosa Springs property. Determining whether or not your specific residence or establishment might gain necessitates taking a look at the type of property and how near it is to a big discounter's retail complex. Lower income property owners and renters may be especially delighted to enjoy effortless access to a big discount store. Similarly, business owners that seek customers much like Wal-Mart's may thrive by locating in or near the Big Box complex. More chic enterprises may well do best by locating somewhat away from the discounter's position, if possible surrounded by other shops that aim for clients similar to their own.