What's your opinion about the traffic & growth in Castle Rock CO?

Question

There has been much discussion about too much growth in Castle Rock and the infrastructure being built is not fast enough to support it. Some residents are trying to recall some Town Council Members because they fast expansive growth. As a local Agent I hear about this item constantly. Recently the town installed a pedestrian bridge over Wolfensbeger Rd. Would would have thought that would happened even 2 years ago.

http://castlepines-realestate.com/wolfensberger-pe...

Also the town originally decided to only build a 2 lane road with The North Meadows Extension. Last month they announced it is being increased to a 4 lane road, since the main road in/out of The Meadows is a big problem with too much traffic.

http://castlepines-realestate.com/north-meadows-ex...

What are thoughts about the fast growth in this area?

Dan Mackin · Answer

@Jim Garcia what is happening for you down south is happening for us up north too. My town has 7000 planned homes on the books currently. Our population is projected to double over the next 15 years. Growth is always a concern to those who already live in the area. They say they don't want growth, but won't take responsibility for being a part of it. If you didn't want the town to grow then don't pick somewhere even mildly desirable. Castle Rock is going to have more growing pains and that's just what they've set themselves up for. What people never seem to realize is that it's not just the current board who "made mistakes". These things happen for years and it's usually just the current board who has to deal with it and become the scapegoat. Not saying they should be taken off the hook, but it's always interesting to watch them get stuck with all the blame.

Scott Trench · Answer

I'm not sure I 100% understand the question here. Castle Rock, like everywhere else in the CO Springs, Denver, Boulder, and Ft Collins Front Range area is probably going to grow as a result of the incredible population and economic booms going on in our region of the country. The people who are moving here are often just like me - young, 20-somethings, and we often end up staying.. for good.

This means that they really can't build fast enough to accommodate all these new people.

What that means is that if you own real estate in our market, you are likely going to see appreciation, even if you aren't a savvy investor. That said, you should probably do your diligence and figure out which types of properties and in which areas you can find more appreciation than the average of the market as a whole.

Castle Rock is sandwiched between Colorado's two largest cities. Of course that's a prime spot to look in. As you pointed out, the residents are a little resistant to growth, meaning that there will be pressure on the government to delay or refuse to permit housing starts. That can only be better news for existing property owners in the short-term, though it's probably bad for the overall market in the long-term (less economic opportunity and more folks being forced out due to price manipulation by government action, rather than market forces).

I think that if I lived in Castle Rock, I'd be buying there. If I lived in CO Springs, I'd be buying there. If I lived in Boulder, I'd be buying there.

I happen to live in Denver, so I buy here.

Pick your poison, and make sure that it's a great investment. But I don't think that CO residential real estate is going downhill in the next few years. If it does though, stably cash flowing assets in great parts of town are likely to make it through.

Bill S. · Answer

@David Hodge ground water will run out (the current practice is mining it) and then surface water is the only option. All surface water is spoken for. The cost to meet demand will be huge. The only way to finance it will be local tax payers and existing water users.

Sure the "new water supply is developed and paid for by new construction" is the politician perrot talking. If you dig in and learn that existing supplies are limits and being depletted by existing users then the politician's words turn into just what they are empty words. In reallity, massive development may turn out to be the savior as it provides the economic base to bring water to the area. At any rate, there is economic pain and change coming on the water front for existing ground water users in the South Metro area (Castle Rock included).

David Hodge · Answer

@Bill S. can you help me understand your post above?  You said you're not a fan of Castle Rock because ground water is used and eventually either growth will have to stop or they will have to find a new source of water.  If growth stops (no more new builds) but the area is still desirable, won't that increase values?  And if a new water supply is developed and paid for by new construction, which I think is how you're saying it would likely be paid for, won't that help the town without putting the burden on current homeowners?  It seems to me like the fact that they are using ground water is actually a reason to invest in Castle Rock, but I'm probably just not understanding the big picture.  Can you, or someone else, help me understand why this could be a reason not to invest in the area?

Also, it was great meeting you the other night!  I look forward to seeing you at more events.

Bill S. · Answer

If it's all the same. I'm not a fan of Castle Rock. All of the south metro area is using groundwater. Groundwater has a limited supply. Castle Rock and other areas using ground water will need to find another water source in the next 20 years or so. They will have either one of two choices. Stop growth or find water. Finding water is expensive. The no growth folks will use the water to stop growth or the new development will be saddled with the cost. All of these approaches favor those in place.

What's your opinion about the traffic & growth in Castle Rock CO?

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