Castle Rock reaches agreement for Dawson Trails project; developer must now submit build phases for approval
Castle Rock town leaders are working on the approval phases of a project that would develop a huge area of land in the southwest corner of town. It's an area that has been zoned for commercial, industrial and residential development for decades.
The project is called Dawson Trails. A developer called Westside Property Investment Co., Inc. reached an agreement with the town recently to build 5,850 single-family homes as well as roughly 3.2 million square feet of commercial, office, restaurant and industrial uses. Over 47% of the property would be dedicated for open space, parks and trails.
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According to the town, the project encompasses more than 2,200 acres between two different development zones. The first is the Dawson Ridge Planned Development, which makes up a majority of the potential land use -- 1,883 acres. The second is the Westfield Trade Center Planned Development area -- 378 acres. These areas were approved to be rezoned and become the Dawson Trails project in July.
The land was originally annexed and zoned by the town in 1984.
The entirety of Dawson Ridge is situated west of Interstate 25, south of Territorial Road and 1 mile north of Tomah Road. The Westfield Trade Center zoning area is situated north of Territorial Road; the project proposal only covers a portion of this zoning area.
According to the town, most of the land proposed for development had been under a suspension agreement from the town since 1992. That agreement assured the town's ability to require development plans for the area that conform to the current town policies.
A key factor for this project: The plan helps with funding needed for a new interchange at I-25 and Crystal Valley Parkway/Territorial Road. It also requires the development to contribute $4 million toward a future fire station to serve the area, also promoting job creation in the process.
The development agrees to contribute $50 million, and roughly $118 million will collectively come from the town and Douglas County through possible grants and other sources.
A major commercial fixture for the area will bring in a Costco to Castle Rock, the terms of which were approved by the town on Sept. 6. The town is also set to contribute $10 million to bring in Costco, which Castle Rock said will generate $4 million to $6 million in town sales tax annually.
With the agreement for Dawson Trails reached, developers will now move to submit its plans for the different phases of development.
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