County (EPC)/Denver County, EPC population projections by age group,
and rate of EPC population increase. She identified the U.S. median
weekly real earnings, private annual wages, the need for affordability for all
populations, U.S. annual median of existing single-family home prices,
inventory of existing homes for sale, mortgage interest rates, and national
home price-to-income ratio. Ms. Bailey went over the U.S. annual median
new single-family home prices, U.S. new single-family home sales,
quarterly U.S. home ownership rates, ten most expensive states,
affordability of new apartments, and Colorado residential building permits
(underbuilding) impact. She provided an overview of county median home
prices, annual median home price appreciation, median annual home
prices of new and existing homes in the U.S./Colorado Springs/Pikes
Peak region, U.S./Colorado Springs existing sales distribution-May 2024,
home building, Housing Opportunity Index, Cost of Housing Index,
homeowner’s insurance, and new jobs in Colorado Springs.
Councilmember Henjum asked if demand keeps home prices high. Ms.
Bailey confirmed it does.
Councilmember Henjum asked what the factors are that create high prices
of homes. Ms. Bailey stated prices will increase if supply is low, the City is
underbuilt to a greater extent than other communities, older people who
may want to downsize do not have the economic incentive to move, and
also zoning plays a factor.
Cody Humphrey, Director of Planning, La Plata Communities, representing
the applicant, went over their visions/values, agency/stakeholder meetings,
Colorado Springs future growth regional context map, El Paso County
Master Plan - areas of change/key areas, CSU Utility Service Center Fee
assessment area, City limits: 1978, annexation growth: 1978 and prior,
1979, 1981 through 1986, present day, and Amara annexation, and
flagpole annexation examples. He identified the Amara location, three-mile
area for annexations, current/future urban development growth, Widefield
Water and Sanitation District, regional land ownership map, adjacent
transportation corridors, Powers Boulevard/Meridian Road extensions, and
distance/travel time comparisons. Mr. Humphrey went over the El Paso
County Master Plan-employment center priority development areas, and
regional summary.
Mr. Humphrey provided an overview of the Amara Master Plan, advantages
of a master planned community, Amara vision: neighborhood villages,
community site plan, density/product mix, commercial/mixed use, open