How Would a Big-box Retailer Influence Pagosa Springs Colorado Real Estate Property?

There is now a much greater chance that a Big Box retail store will be built in Pagosa Springs, Colorado We have seen quite a few debate concerning how this kind of a shop could have an effect on our community. Here we take a closer look at the impact it would have on our Pagosa Springs home values. The construction of a Big Box store in Pagosa Springs has been a contentious proposal for many years. The two central areas of debate have been the economic impact plus the possible alterations to the community's atmosphere. In this Here, we shall concentrate on the outcome on Pagosa Springs property prices.

In September of 2010 a combined press release sent out by the Archuleta Board of County Commissioners, the Town of Pagosa Springs and the Pagosa Springs Community Development Corporation confirmed that a large-format retail developer is serious about building a shop in our area.

Actually, we believe that the company involved is Wal-Mart, and that we are on their short list of probable project locations for the state.

The place under consideration (on the northwest corner of Vista Boulevard and U.S. 160) is in fact out of the town limits, on the west side of town. Previously, 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 retail store compound. This is on the east side of town, and a lot closer to downtown.

This project is clearly still in the tentative period, and the store may not be created (at least this time around). But since a big box store will probably arrive someday, it is worthwhile to consider the consequences.

Due to its site on the west perimeter of town, there would surely be a shift of our economic center in that direction, and away from the downtown section. The recent failure of our downtown grocery store and one of the banks may make the historic center fairly more weak. On the other hand, the setting might actually cause increased traffic through the entire area.

Historic Downtown Pagosa Springs, Colorado is obviously home to our eponymous hot springs, together with the resorts, dinning establishments, shops, and post office nearby. These aren't going anywhere. It is improbable tourists will prefer to linger around a Wal-Mart throughout their stay in Pagosa Springs. However those taking accommodation downtown are even more bound to get exposure to the many enterprises along the way, should they be drawn to do some of their shopping at a Big Box store on the west side of town. Likewise, a Big Box merchant would be expected to attract customers from as far away as Chama, to the south. In the case that such a store ended up being placed on the Sawmill property, they would have little motive to venture further.With a magnet store on the other side of town, out-of-town shoppers must drive all through the entire Pagosa Springs downtown, Putt Hill and uptown areas to arrive at their main destination.

Assuming the county does not churn out excessive tax concessions to draw a Big Box retailer, the added revenue from resident shoppers staying in town, others coming in from additional regions, and the improved property tax revenue would be in the hundreds of thousands of dollars. Throughout the development period, the development would be a windfall when we badly could do with one. The jobs supplied by Wal-Mart may well not be the best paying, nor with the greatest benefits, however the same can be the case with small owner-operated employers. The overall employment may not change a great deal, but job security could truly progress. While Wal-Mart employs lots of part-time employees, so do local employers. Moreover this is not all bad. Many parents and semi-retired individuals prefer the flexibility. Increased income and tax money makes it possible to better finance our regional services and infrastructure, which consequently increases property values.

In brief, we judge the development of a large format vendor should have a positive effect on Pagosa Springs property. Whether or not the precise site benefits your personal house or company will likely rely primarily on the sort of home or establishment in question. Lower income home owners and renters may well be especially pleased to have easy access to a big discount store. In the same way, merchants that cater to a clientele much like Wal-Mart's may well thrive by being located inside or nearby the Big Box complex. Establishments that aim at higher-income clients may find they are better positioned in the pricier areas of town, surrounded by other companies who share their customer base. There is no reason why this must conflict with the development of a large-format merchant at the projected site.