Welcome to Three Springs, the new Durango.
It all started with great design – create a community based on traditional neighborhood design principles.
It is appealing because it uses the lessons learned in towns like Durango. Those features that add to the community design include walkable and rideable features, a neighborhood center, and eventually it will have a large community park, a school and church sites.
Three Springs provides an abundance of open space and a developed neighborhood center, with a restaurant, bank, fitness center, dentists and other neighborhood businesses, in addition to the residential neighborhoods.
Homes were designed similar to historic Durango with front porches and sidewalks so neighbors would see and talk with each other. In fact, new traditional neighborhood design is a lot like Durango with its traditional neighborhoods, a great community with neighbors caring for each other.
There have been more than 250 residential units built in Three Springs so far, and more than 600 residents live there. With the hospital close by, and the many businesses calling Three Springs home, there are approximately 1,300 people working in Three Springs.
The businesses include environmental, energy and insurance companies and a number of health providers.
From a real estate perspective, Three Springs offers new homes, designed and built by quality local builders. The resale homes have all been built since 2007, which means they have many of the newer features that homebuyers find appealing.
A number of the homes in Three Springs offer energy- efficient design and systems, which provide utility costs savings every month. Some of the Energy Star features used in Three Springs include tankless water heaters, 96 percent efficient furnaces, whole-house fans, R-30 insulation in the floor and R-23 insulation blown into the walls, energy-efficient appliances, and energy-efficient windows and doors. These kinds of energy improvements can save half of the cost of monthly utilities.
Three Springs is more affordable than some neighborhoods, and the affordability attracts young families, professionals and early retirees. The amenities in the neighborhood appeal to everyone. The Colorado Real Estate Network shows a total of 41 homes sold in the last 12 months as of Nov. 20.
Of those, 26 were single-family homes with values from $284,900 to $499,900, and a median price of $353,800. Currently on the market, there are 13 homes with four of them under contract, with a price range of $289,900 to $499,900.
In addition, there were 15 townhomes sold with a price range of $254,900 and $295,000, with a median price of $269,900. Currently on the market are six townhomes, with two under contract and priced between $269,900 and $294,900.