How Would a Big-box Store Shape Pagosa Springs CO Real Estate?

It now appears likely that a Big Box retail store will be built in Pagosa Springs. Aside from the controversy over the way a big retail store could disturb our town's appeal, we are interested in how it would influence Pagosa Springs, Colorado property prices. The building of a Big Box store in Pagosa Springs has been a contentious concept for a long time. The two key points of conversation have been the monetary effect along with the potential alterations to our community's nature. In this Here, we shall concentrate on the consequence on Pagosa Springs property values.

In September of 2010 a shared press release sent out from the Archuleta Board of County Commissioners, the Town of Pagosa Springs and the Pagosa Springs Community Development Corporation acknowledged that a large-format retail developer is interested in building a retailer in our vicinity.

Actually, we believe that the corporation involved is Wal-Mart. Supposedly, we have made their final list of possible development sites for the state.

The development site that is being looked at is actually slightly out of town,on the northwest corner of Vista Boulevard and U.S. Highway 160. In the past, the Sawmill Road area on the southeast corner of the intersection of U.S. 160 and 84 has been another site thought of as a possibility for a large-format store compound. This is on the east side of town, and a lot closer to the historic area.

Obviously at this point, there is no certainty that this particular project will come to fruition. It remains in the investigative period. But seeing as a big box store will probably appear in the future, it is worth considering the consequences.

The current location under evaluation would definitely cause an economic shift in the direction of the "core area" on the west side of town and away from downtown. This is particularly true with the recent loss of our only downtown grocery store, and one of the banks. On the other hand, the site may possibly actually trigger increased traffic flow through the entire area.

Historic downtown will always maintain the durable and irreplaceable attractions of the hot springs themselves, and the resorts, stores, restaurants and additional services operating close at hand. It has the river walk, post office, parks, and nearby fair grounds. There is no cause for downtown to diminish, merely because a different destination is 3 miles away. We are discussing a 6 minute drive, after all. Visitors taking lodging downtown will most likely take additional visits up Putt Hill to go to a Big Box retailer, and therefore receive increased exposure to the many stores, restaurants and other merchants as they go. Likewise, a Big Box vendor would be anticipated to pull customers from as far away as Chama, to the south. In the case that such a retailer were placed on the Sawmill property, they would have little motive to venture further.If their destination is on the furthest side of town, these people will end up travelling all through nearly our whole economic zone, therefore increasing the exposure of the countless small shops and eateries along the way.

A large retailer could bring a sizeable economic boon to the community, in addition to Archuleta county, if indeed we don't give away too many tax concessions. More local inhabitants will stay in town to go shopping, more will venture in from nearby towns, and property tax revenue might be substantial.. The development itself would supply quite a lot of job opportunities in the near term, notably in the building trades, which have been very hard hit. While Wal-Mart is not famed for providing high-paying jobs with wonderful benefits, regrettably, neither are small-town locally-owned business owners. Extra income and tax dollars makes it feasible to better support our regional services and infrastructure, which in turn increases land values.

The bottom line is that the construction of a Big Box store will almost certainly have a positive outcome on houses and land values. Finding out if your actual house or business might benefit requires taking a look at the sort of property and how near it is to a large discounter's retail complex. Lower income house owners and renters might be very pleased to enjoy easy access to a major discount store. Similarly, establishments that seek customers similar to Wal-Mart's may do well by locating in or nearby the Big Box complex. More chic enterprises may do best by locating a bit away from the discounter's site, preferably surrounded by other shops that aim for customers like their own.