Eagle’s Hockett Gulch project wins first-round approval | VailDaily.com

Eagle’s Hockett Gulch project wins first-round approval

The Reserve at Hockett Gulch Proposal

• 30 acres on what was formerly called the JHY Property.

• 500 units

• 16 units per acre

• Up to 30,000 square feet of commercial space

• To be built in two phases

• Phase 1: 396 one- and two-bedroom apartments in a variety of 3-story walkup buildings.

• $1,370 anticipated rent for one-bedroom

• $2,095, anticipated rent for two-bedroom

• 30 percent of the rental apartments would be deed-restricted to local workforce, with no income restrictions.

• 15 percent of future for-sale units in Phase II would be deed-restricted, including income restrictions.

• Priority on rental waiting lists will be given to employees of the town of Eagle, Eagle County schools and the Greater Eagle Fire Protection District.

• The next hearing is 6 p.m. March 12 before Eagle’s town board in Eagle Town Hall.

EAGLE — One of the most ambitious downvalley development projects in recent years received its first approval in almost record time.

In its first public hearing, the 500-unit Reserve at Hockett Gulch project won a unanimous (6-0) recommendation for approval from Eagle’s planning and zoning commission earlier this week. The project now moves to the town board for its March 12 meeting.

Widespread local support

Eagle residents filled the town board chambers to hear Dominic Mauriello’s presentation about plans for the 29.65-acre parcel on the western edge of Eagle.

Several Eagle residents spoke in support of the project, both during the hearing and in written testimony — many referring to the need for attainable housing throughout Eagle County.

Matt Jones, an Eagle resident and member of the Vail Valley Partnership Board of Governors, emphasized the importance of public-private partnerships in projects like this.

“We need to meet in the middle to get projects like this done,” he said. “We’ve seen plenty of examples of other mountain communities finding success by making reasonable concessions so the economics of a development make sense.”

Al Musser, Eagle resident and member of the Eagle Business Advisory Council agreed: “I am so fortunate to live in Eagle. Let’s look long-term and find solutions to make it possible for more people to live here.”

Some Eagle business owners noted that while workforce housing is a need, they also need the customers that would come with it.

“This middle segment of housing is vital. This is the fabric of our community,” Steve Lindstrom, who owns the Capitol Theater building in Eagle Ranch, told the planning commission.

Dan Metzger, chief operating officer with Brue Baukol Capital Partners, thanked the planning and zoning commission for its work.

“We appreciated their thoughtful questions and insights. Our presentation included a lot of detail and I was impressed by the commissioners’ ability to get through it all in one hearing, voting unanimously to keep this development moving forward,” Metzger said.

Lauren Brockman, owner of Convergence Multifamily Real Estate Group, will develop the first phase of the Hockett Gulch project.

Brockman said they expect their project to appeal to teachers, medical staff, first responders, government employees and service industry workers.

Staff Writer Randy Wyrick can be reached at 970-748-2935 and rwyrick@vaildaily.com.

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