How Will a Big-box Store Influence Pagosa Springs CO Property?

A large-format retail store is now a real possibility in our small historic community. There has been a lot of debate regarding the way this kind of a shop would affect our town. Here we examine the bearing it would have on our Pagosa Springs real estate property values. The construction of a Big Box store in Pagosa Springs has been a contentious proposal for a long time. The key topics of argument about town are the ways the character of the town could be altered, along with the effect on the economy. In this commentary, we shall focus upon the consequence upon Pagosa Springs, CO property values.

In September of 2010 a combined press release distributed from the Archuleta Board of County Commissioners, the Town of Pagosa Springs and the Pagosa Springs Community Development Corporation affirmed that a large-format retail developer is thinking about building a store in our area.

Actually, we believe that the corporation involved is Wal-Mart, and that we are on their short list of likely project locations for the state.

The spot being considered (on the northwest corner of Vista Boulevard and U.S. 160) is actually past the town limits, on the west side of town. Up to now, the Sawmill Road area on the southeast corner of the intersection of U.S. 160 and 84 has also been considered a prospect for a large-format store compound. This is on the east side of town, and a lot closer to the downtown area.

This development is obviously still in the investigative period, and the store may not be created (at least for now). But because a big box store is likely to come one day, it is worthwhile to consider the consequences.

As a result of its site on the west edge of town, there would certainly be a swing of our financial axis in that direction, and away from the downtown region. The recent loss of our downtown grocery store and one of the banks may make the downtown area somewhat more susceptible. Simultaneously, the proposed spot could promote the developing core area. Such a placement would also serve to steer additional traffic through downtown and up Putt Hill.

Historic Downtown Pagosa Springs, Colorado is of course home to our eponymous hot springs, in addition to the hotels, restaurants, shops, and post office nearby. These are not leaving. It is improbable vacationers will choose to linger around a Wal-Mart for the duration of their holiday in Pagosa Springs. But individuals taking accommodation downtown are even more likely to get exposure to the many enterprises along the way, if they are drawn to do some of their shopping at a Big Box store on the west side of town. In the same way, a Big Box vendor would be anticipated to draw shoppers from as far as Chama, to the south. If such a store ended up being stationed on the Sawmill property, they would have hardly grounds to venture further.If their destination is on the far edge of town, these shoppers will end up travelling through nearly our whole economic region. This will increase their exposure to the numerous small stores and restaurants along the way.

If indeed the county doesn't make excessive tax concessions to draw a Big Box vendor, the additional revenue from local patrons remaining in town, other folks coming in from other communities, and the increased property tax revenue would be in the hundreds of thousands of dollars. Throughout the building phase, the project would be a windfall when we badly need one. The positions provided by Wal-Mart might not be the highest paying, nor with the highest benefits, but the same can be the case with small owner-operated employers. The overall employment might not vary substantially, but job security could truly progress. Although Wal-Mart makes use of lots of part-time employees, so do local businesses. And this is not all bad. A lot of parents and semi-retired individuals prefer the flexibility. Increased income and tax dollars makes it possible to better finance our local services and infrastructure, which consequently improves land prices.

In conclusion, we believe the coming of a large format vendor should have a constructive effect on Pagosa Springs homes. Whether the particular setting benefits your particular residential property or company will probably rely primarily on the sort of home or company in question. The planned site may actually satisfy the nearby neighbors, who do not live in high-end neighborhoods. The existence of a big discount store might well enhance the worth of the site to lower income people and merchants that cater to them. Establishments that pursue higher-income customers may discover they are better positioned in the more expensive shopping districts of town, together with other companies who share their client base. There is no basis why this need conflict with the development of a large-format merchant at the planned site.