Burn, Baby Burn - 820 Lee Hill Road [Development]

by Osman Parvez

The upcoming North Boulder development at 820 Lee Hill Road
, which used to be a training site for the fire department, will consist of 32 single family houses, six of which will be permanently affordable.

   Here's what the property looks like today: 

Here's what the developer envisions it will look like when construction is completed:  

The project site is zoned RL-2, defined in Land Use Code as “medium density residential areas primarily used for small-lot residential development, including, without limitation, duplexes, triplexes or townhouses, where each unit generally has direct access at ground level.”

The  6.1 acre site is being sold by Boulder County. Oddly enough, the list price for the property was only $3.25MM although the county had the land assessed at $6.5MM. We don't know the negotiated purchase price as yet. 

According to the developer, the houses will be built with "inviting front porches toward the street and private open space at the back with the goal of maximizing the opportunity for the future residents to enjoy the lifestyle found throughout the single family home neighborhoods in the surrounding community. A central park has been provided in the heart of the development. This will be a well programmed, more formal open space, suitable for elements such as a playground and community gardens. This park will be open to the larger community as well and inviting entrances have been designed to welcome users. The park will be maintained by the 820 Lee Hill HOA."

No official word on pricing, but the developer has been quoted as targeting the $400,000 to $700,000 price tranche.  Expect development to be completed within 18 months. 

Additional Resources:
House Einstein's Boulder Development Map
House Einstein's Photo Set 
Plans for Development in N. Boulder (BCBR)
Developer's Written Statement
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Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.