The Hailey Planning and Zoning Commission will consider new design plans for the sixth and final phase of Woodside’s Copper Ranch development at a 5:30 p.m. public hearing on Tuesday, Feb. 21, at Hailey City Hall.
If approved, the final phase would see 36 condominium units built on Woodside Boulevard between Laurelwood and Winterhaven drives in the city’s limited business district. The new construction would bring Copper Ranch up to 133 units from its existing 97 units, according to the city.
The units would be spread across eight buildings on a two-acre parcel, each with three to five condominium units. Twenty of the condominium units would be two-bedroom, and the remaining 16 condominium units would three-bedroom. All would be between 778 and 1,278 square feet, not including the attached one-car garage.
“Most of the buildings’ sides include siding, trim, windows, pop-outs and colors that break up the appearance of large building surfaces,” the city stated.
Seventy-eight parking spaces would be provided for the 36 units: 35 one-car garages, 35 driveway parking spaces and eight outdoor parking spaces.
The developers—Darrin Klotz and J. Edward Smith of Beverly Hills, California-based Lido Equities Group—will be represented by Samantha Stahlnecker of Opal Engineering.
Klotz and Smith first conceived Copper Ranch in 2003 as a 135-unit, five-phase planned-unit development spanning 27 buildings. It was initially scheduled for completion by 2006, but the development stalled leading up to and during the Great Recession, according to the city.
The P&Z will also look at a design-review modification application from the Copper Ranch development team—the fifth submitted since 2003.
The modification application asks for two waivers to the required setbacks in the limited business zoning district, both in the front yard adjacent to Woodside Boulevard and the rear yard adjacent to existing buildings.
The proposed setbacks are 4 and 7 feet, while the zone's required setback is 10 feet. The shorter setbacks would help the developers "meet Americans with Disabilities Act (ADA) standards" for at least one planned ADA-accessible unit, according to the application.
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Quick break out the rubber stamp!!
Eventually, more supply is and will come on Wood River Valley real estate market. Greed with win out as builders and developers attempt to cash in on what looks like endless demand. Then, all the talk of no supply will just be a "known" having been factored in and discounted by the market. From the looks of things now, it seems like decreasing demand is already influencing the market (1335 units sold in 2020, 1280 in 2021 and 757 in 2022) So, with more supply and lower demand, draw your own conclusions based on economics as to the future direction of the market. Remember, it is not the "knowns" that drive markets. it is those pesky "unknowns" that suddenly appear one day just like COVID did. Again, we're coming off of a parabolic price move, the up being like the left side of the Eiffel Tower and the potential down like the right side as we regress back to the 5.2% per annum appreciation here since 1986.
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