Steamboat’s Biggest Development Won’t Be Selling
The developers of Casey’s Pond Senior Living Center, plan to invest more than $40 million dollars in the facility making it by far the largest real estate development project Steamboat Springs, Colorado has on its radar for the near future. And if the plans hold true, none of the 121,000 square foot facility comprising 6 acres about a mile from the Steamboat Ski Area off Walton Creek Road and US Highway 40 will be sold to any future residents. Instead, Casey’s Pond’s business model centers around renting its mix of independent living, assisted living, memory care and skilled nursing residences.
Being a product of the very end of the well talked about Baby Boom generation and as such having parents that are approaching the age where assisted living might become a family issue, I personally applaud the rent vs. sell approach. This is one instance where the real estate agent side of me has to take a step back in favor of the Baby Boomer with aging parents side of me. But even the realtor in me sees the positives in a state-of-the-art senior facility coming to Steamboat Springs regardless of whether there’s a sales opportunity involved or not.
* Fact: Many senior home owners have lost equity in their homes that prohibits them from selling them in order to purchase something else.
* Opinion: Assisted living facilities are approached on a “trial basis” by many people and as such, people shouldn’t be forced to invest their life savings into something that might not work for them.
* Fact: Medicare and Medicaid funds are in jeopardy of being drastically reduced in the coming years, so the flexibility inherent in renting vs. buying into a Senior Living Center becomes all the more relevant.
* Opinion: As a realtor, I believe it’s a bonus to sell real estate in a community that has a state-of-the-art mixed offering Senior Living Center. There will now be a viable option for those choosing to relocate to Steamboat Springs, Colorado to also relocate aging parents close-by as well. For those who have already earned their senior citizen status, having an option stay in Steamboat Springs if assisted living becomes necessary for themselves or their spouse makes this either an attractive community to move to or to remain in.
* Fact & Opinion: America’s population is aging, and being able to address the needs of seniors with a facility encompassing the amenities planned at Casey’s Pond is a huge asset to our Yampa Valley real estate community. The decision to stay in Steamboat Springs longer will be easier as will the decision to relocate to Steamboat Springs. Having a range of senior living options in one location is a huge step in the right direction, and being able to rent month-to-month vs. making a significant monetary investment to purchase will make the often hard decision to adopt a new lifestyle all the easier. The easier a decision is financially and emotionally on the seniors, the easier it will be on their children.
As a Baby Boomer, real estate agent and child of senior parents, I appreciate the option to remain living in an area I love, having a career I enjoy while knowing my parents have access to a world-class assisted living facility in my Steamboat Springs’ community that won’t require a long term financial commitment, and will give me great peace of mind.
—For more information on real estate in Colorado or questions regarding Steamboat Springs real estate in Steamboat Springs, Colorado, feel free to call me at 970-846-6435 or write me an email at: firstname.lastname@example.org.