Ordinances to amend the zoning for the proposed Dawson Trails area in the Town’s southwest corner and to approve an associated development agreement that would provide $50 million toward the Crystal Valley interchange and bring a Costco to Castle Rock will move forward to a second and final reading, Town Council decided Tuesday.
Here is a closer look:
Dawson Trails zoning and development agreement – Town Council approved on first reading the proposed rezoning of Dawson Trails – a mixed-use development on a roughly 2,000-acre site west of Interstate 25 and primarily south of Territorial Road in southwest Castle Rock.
The area was annexed into Town in 1984 and zoned for a mix of residential, commercial, office, restaurant and industrial uses. The Town has been planning to serve this area with municipal services, including water, since that time.
The proposed development plan reduces the number of residential units the original zoning allows by 26%, to 5,850 units.
The plan also helps with the funding needed for a new interchange at I-25 and Crystal Valley Parkway/Territorial Road; the development would contribute $50 million toward the project under the development agreement that Town Council approved Tuesday on first reading. The Town and Douglas County – and possible grants and other sources – would fund the rest of the project, which is currently estimated at $118 million.
The proposal also includes a 200% increase in open space – up to 748 acres – from the original zoning. Further, the development agreement requires the development to contribute $4 million toward a future fire station to serve the area, along with addressing other Town needs – including the most water-efficient landscaping the Town has ever required for any development. Learn more and view a fact sheet about the proposal at CRgov.com/DawsonTrails.
The Town’s Planning Commission had voted unanimously to recommend that Town Council approve the rezoning. Town Council will again review the items on second and final reading at its Sept. 6 meeting. Also at that meeting, Council will consider an incentive to the development for infrastructure and land to bring a Costco to the site. The proposed infrastructure assistance would be for $10 million and come from the Town’s Economic Development Fund and future Costco sales tax revenue.
If approved, it’s anticipated construction on the interchange would begin next year and be completed in 2025. The developer would decide, based on market conditions, when residential units are built and which stores and other amenities would be located within the development.
Watch the Town Council meeting: https://castlerock-co.granicus.com/player/clip/1434?view_id=3&redirect=true
The next regular Town Council meeting is Tuesday, Sept. 6. Visit CRgov.com/CouncilComments between Sept. 1 and 6 to provide written feedback, or to sign up to speak via videoconference during the meeting. The meeting will be available live at CRgov.com/CouncilMeeting. In-person attendance will also be available.
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