[bouldercouncilhotline] Hotline: FW: $1.34M

[cmosupport at bouldercolorado.gov]

Sender: Morzel, Lisa

Council and other interested parties,

Tomorrow we will have a study session on middle income housing strategy.

Council has received emails from north Boulder residents about the rapid changes their neighborhoods are experiencing and wondering what to do.

I have attached two documents to allow you to see the big changes on just two of many properties in north Boulder to provide an idea of the changes.

The first img 1101.jpg is an ad I saw in the daily camera recently for a newly constructed
spec home at 1695 Orchard.  My friend used to live there until her death about three years ago. Her son inherited the property with a 1200 sq ft 1960-style ranch home on an "oversized lot"-zone ER-E (half acre?).  He sold the property for $650,000 to a developer active in the neighborhood who then scraped the entire home with furniture, carpets, light fixtures, wood, 45' healthy blue spuce, etc - Anyway the modest 1200 sq ft home for $650,000 is now gone, replacing it is a 6500? Sq ft speculative home, now called a modern farmhouse, for $2,695,000.  My point is that this type of activity, while completely legal, is rapidly changing who might live be able to live here.  The modest home affordable to X %of boulder residents is now no longer available and what replaced it is more than over a 400% increase available to probably less than the upper 1% of our residents, just looking at it from simple numbers.  Obviously a lot of money has been put into this house.

If you look at the second attachment (2016 03 18....), you'll find an ad for a well maintained, perfectly fine 3 bedroom 2 bath home on 0.9 acres selling for $1,349,000 as "a rare opportunity in Boulder to build s family home to pass through the generations".  This is being sold as a scrape-nothing is wrong with the existing house.  What is even more concerning is that the ad states is you build in the county, you can build a home at large as 4386 sf but if you annex into the city, you can build up to 9862 sq ft-this is related to what we allow for FAR's in the city.  What percentage of future residents can afford a 10,000 sf home-very few.  If you take the same markup as the first example, this home will sell for around $5.6 million.

I send you these attachments and comments so you see the scale of rapid change happening in this part of our city-it's not the only place.  And this is having an incredible impact on who can live here.  What might we do that might alter this course?

Lisa
From: Lisa Morzel [mailto:lisamorzel at gmail.com]
Sent: Monday, March 28, 2016 6:59 PMdddd
To: Morzel, Lisa <MorzelL at bouldercolorado.gov>
Subject: Fwd: $1.34M



Lisa

303-815-6723

720-530-4080

"Politics is what we create by what we do, what we hope for, and what we dare to imagine."  Paul Wellstone 1944-2002
-------------- next part --------------
A non-text attachment was scrubbed...
Name: IMG_1101.JPG
Type: application/octet-stream
Size: 150133 bytes
Desc: not available
Url : http://list.ci.boulder.co.us/pipermail/bouldercouncilhotline/attachments/20160329/89bc2287/attachment.obj 
-------------- next part --------------
A non-text attachment was scrubbed...
Name: ATT00001.htm
Type: application/octet-stream
Size: 168 bytes
Desc: not available
Url : http://list.ci.boulder.co.us/pipermail/bouldercouncilhotline/attachments/20160329/89bc2287/attachment-0001.obj 
-------------- next part --------------
A non-text attachment was scrubbed...
Name: 2016_03_18_10_01_44.pdf
Type: application/octet-stream
Size: 589299 bytes
Desc: not available
Url : http://list.ci.boulder.co.us/pipermail/bouldercouncilhotline/attachments/20160329/89bc2287/attachment-0002.obj