It currently looks likely that a large retailer will be built in Pagosa Springs, Colorado Aside from the controversy about the way a big discounter would upset our town’s nature, we are interested in the way it could affect Pagosa Springs, Colorado home values. The construction of a large discount retailer in Pagosa Springs has been a contentious idea for many years. The chief matters of debate about town are the ways the personality of the community might be altered, along with the bearing on our economy. In this Here, we will focus upon the effect on Pagosa Springs, CO real estate values.

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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 announced that a large retailer is earnestly considering the development of a facility in the Pagosa Springs area.

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

The location being considered (on the northwest corner of Vista Boulevard and U.S. 160) is in fact beyond the town limits, on the west side of town. The additional spot that has attracted speculation over the years is the so-called “Sawmill property” located on the southeast corner of the intersection of U.S. 160 and 84 (on the east side of town).

This development is of course still in the investigative stage, and the store may not be constructed (at least this time around). Nevertheless, a Big Box retailer is likely to come at some point, assuming our town remains vigorous enough to attract one. Hence, it is worth thinking about the effect on local real estate property.

The present location being evaluated would undoubtedly bring about an economic swing toward the “core area” on the west side of town and away from downtown. This is particularly so with the recent passing of our only downtown grocery store, and one of the banks. On the other hand, the location may well actually set off more traffic flow throughout the entire vicinity.

Historic downtown will always retain the durable and unique attractions of the hot springs themselves, as well as the accommodations, shops, dinning establishments and additional services found in the vicinity. It has the river walk, post office, parks, and close by fair grounds. There is no reason for downtown to fade away, merely because an extra destination is 3 miles away. We are discussing a 6 minute drive, after all. Visitors taking lodging downtown will probably make more trips up Putt Hill to visit a Big Box retailer, and consequently receive more exposure to the many shops, eating places and other merchants along the way. Likewise, a Big Box retailer would be expected to bring in patrons from as far as Chama, to the south. If such a store was placed on the Sawmill property, they would have hardly cause to venture further.With a magnet retailer on the opposite edge of town, out-of-town consumers must drive through the entire Pagosa Springs downtown, Putt Hill and uptown areas to get to their main destination.

Assuming the county doesn’t create unwarranted tax relief to draw a Big Box vendor, the supplemental income from indigenous consumers remaining in town, other folks flowing in from other areas, and the enlarged property tax income could be in the hundreds of thousands of dollars. The construction alone would supply numerous jobs in the short run, particularly in the building trades, which have been very hard hit. The work opportunities offered by Wal-Mart may 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 vary much, however job security might truly get better. While Wal-Mart uses lots of part-time workers, so do local merchants. Moreover this is not all bad. Many parents and semi-retired individuals prefer the flexibility. With bigger revenue, the county’s ability to keep up roads and other infrastructure, and to sponsor our public schools, will be improved. This has a direct positive effect upon property prices.

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The bottom line is that the building of a Big Box store will almost certainly have a positive outcome on houses and land values. Determining whether your precise dwelling or business will profit involves looking at the sort of property and how close it is to a big discounter’s retail complex. The projected site may truly satisfy the nearby neighbors, who don’t dwell in elite neighborhoods. The existence of a large discounter might well enhance the value of the site to lower income people and businesses that cater to them. More upscale enterprises might do best by locating somewhat away from the discounter’s position, if possible surrounded by other stores that pursue customers like their own.