A Big Box store is currently a genuine possibility in our small historic town. Apart from the controversy about the way a big discounter would shape our community's charm, we are interested in how it would affect Pagosa Springs, Colorado home values. The construction of a Big Box store in Pagosa Springs has been a contentious idea for a long time. The prime matters of discussion around town are the ways the appeal of the town might be altered, as well as the impact on our economy. In this Here, we will concentrate upon the result on Pagosa Springs property values.
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A press release was distributed jointly by the Archuleta Board of County Commissioners, the Town of Pagosa Springs and the Pagosa Springs Community Development Corporation in September 2010. It made the announcement that a big retailer is sincerely considering the development of a facility in the Pagosa Springs area.
In fact, it is our understanding that the company concerned is Wal-Mart, and that we are on their final list of possible development locations for the state.
The place under consideration (on the northwest corner of Vista Boulevard and U.S. 160) is in fact outside the town limits, on the west side of town. Prior to now, the Sawmill Road area on the southeast corner of the intersection of U.S. 160 and 84 has also been considered a possibility for a large-format store compound. This is on the east side of town, and much closer to the historic area.
This development is clearly still in the tentative phase, and the store may not be built (at least for now). Nevertheless, a Big Box store is bound to appear sooner or later, assuming our municipality remains healthy enough to attract one. Hence, it is worth thinking about the effect on local homes.
Because of its location on the west periphery of town, there would certainly be a transfer of our economic axis in that direction, and away from the downtown zone. The recent demise of our downtown supermarket and one of the banks may make the historic center fairly more susceptible. On the other hand, the setting might actually trigger additional traffic flow throughout the whole vicinity.
Historic Downtown Pagosa springs, CO is obviously home to our eponymous hot springs, along with the hotels, dinning establishments, stores, and post office nearby. These are not going to disappear. It is unlikely visitors will wish to hover around a Wal-Mart throughout their visit in Pagosa Springs. However individuals taking lodging downtown are even more prone to get exposure to the numerous merchants along the way, should they be drawn to do some of their purchasing at a Big Box store on the west side of town. Likewise, a Big Box store would be anticipated to attract people from as far as Chama, to the south. If such a retailer were situated on the Sawmill property, they would have little grounds to venture further.If their destination is on the furthest side of town, these patrons will wind up travelling all through almost our whole economic zone. This will boost their exposure to the numerous small shops and dinning establishments along the way.
A large retail store could bring a sizeable financial benefit to the community, in addition to Archuleta county, if indeed we don't give up too many tax concessions. More locals will remain in town to go shopping, more will come in from neighboring communities, and property tax revenue might be sizeable.. The construction alone would deliver a lot of job opportunities in the short run, mainly in the construction trades, which have been particularly hard hit. Although Wal-Mart is not well-known for offering well paid careers with excellent benefits, regrettably, neither are small-town locally-owned establishments. With increased income, the county's ability to keep up roads and other infrastructure, as well as to fund our public school system, will be enhanced. This has a direct positive effect upon property prices.
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The bottom line is that the construction of a Big Box store will in all probability have a positive effect on residences and real estate prices. Whether the exact site benefits your own house or organization will likely rely mostly on the sort of home or establishment in question. Lower income house owners and renters may well be especially delighted to have trouble-free access to a major discount store. Similarly, enterprises that cater to a clientele much like Wal-Mart's may do well by locating within or nearby the Big Box complex. More upscale establishments may do best by locating a bit away from the discounter's site, preferably surrounded by other shops that aim for shoppers similar to their own.