From The Colorado Springs Gazette (Breeanna Jent):
El Paso County commissioners on Tuesday approved four new metropolitan districts that will fund a proposed subdivision of more than 3,200 homes in Peyton, a move some locals say could alter the area’s “small-town feel” as thousands of expected residents move in.
Commissioners voted unanimously to form the metropolitan districts that propose issuing $290 million in debt over 30 years to build the planned Grandview Reserve subdivision on about 768 acres between U.S. 24 and Eastonville Road, near Falcon Regional Park.
Grandview Reserve developers expect to build up to 3,260 single-family homes in the new subdivision over 14 years, said Russell Dykstra of law firm Spencer Fane LLC, representing developer 4 Site Investments LLC. About 244 homes would be built each year from 2022 through 2032 before construction gradually tapers down between 2033 and 2036, according to meeting documents. Previously, anticipated build-out was planned to occur over eight years.
County planner Kari Parsons said homes were expected to sell on average for about $340,000. Developers will charge each future property owner special district taxes to finance the $295 million debt. Owners of a newly built $400,000 home in the subdivision could owe about $1,859 in taxes annually, Dykstra said.
The proposal presented Tuesday was revised from a previous request to form five new metropolitan districts that proposed issuing $250 million in debt to build the new development. Parsons said developers now proposed issuing $290 million in debt because of increased construction costs…
Developers contended several other nearby districts — including the 4-Way Ranch, Meridian Ranch and Woodmen Hills metro districts — cannot support nor pay for traffic, water and storm drainage improvements planned for the area, meeting documents show.
In a March 31 letter addressed to commissioners and included in meeting documents Tuesday, the 4-Way Ranch Metropolitan District said it cannot provide services to the proposed Grandview Reserve subdivision because it does not have enough water. The district also said forming four new Grandview Reserve Metropolitan Districts “would provide an economic alternative for services and would eliminate undo [sic] financial burden” on the 4-Way Ranch Metro District No. 2.
The Grandview Reserve Metro District would provide water to the Grandview Reserve subdivision, which needs about 1,200 acre-feet a year, developers said. An acre-foot of water is enough to cover an acre of land to a depth of about one foot and is considered the amount needed by a family of four for about a year.
The metro district would source mostly from the Arapahoe and Laramie-Fox Hills aquifers, but offsite wells from neighboring lands owned by 4 Way Ranch will “likely be needed” for full development, meeting documents show.
Mirko Cruz of Trout Raley law firm, representing the Upper Black Squirrel Creek Ground Water Management District, said the developer hasn’t “provided sufficient evidence” that the new metro district owns or controls adequate water rights to service the development. Developers have a purchase and sale agreement “for a portion of the water needed” to meet the subdivision’s demands but it doesn’t prove their guaranteed right to use the water, he said…
Cherokee Metropolitan District will provide wastewater services to the subdivision, developers said.
4 thoughts on “Metro districts for massive Peyton subdivision approved, but some have concerns — The #ColoradoSprings Gazette”
aggh. the water future looks so bleak.
True that, at least in the West. We’re coming up on the need to integrate land and water management. I feel for all the farmers and ranchers that will go out of business.
Thanks for commenting.
How about a plan for the traffic. It already is awful getting out of Falcon. Please, please, please take care of that before allowing any more building.
Thanks for commenting. Growth puts a strain on water resources and other infrastructure. We have to come to terms with integrating land use and water supply. Too bad the Repbublican Party is so married to TABOR in Colorado.