Guide for relocation to Steamboat Springs, CO

YVEA Purchases TIC Building for $9.7 million

YVEA Purchases TIC Building for $9.7 million

Marking the sale of the single largest industrial-zoned piece of property in the Rocky Mountains, in July, the Yampa Valley Electric Association completed its purchase of the 15-acre, 47,000-square-foot TIC campus at the corner of U.S. Highway 40 and Elk River Road for $9.7 million. TIC has moved most of its employees out of Steamboat to consolidate operations on the Front Range.

“To have a business like YVEA located there will go a long way in stabilizing the area,” Steamboat Springs Chamber Resort Association CEO Tom Kern says. “It will become an impetus for what happens next there.”

The purchase expedites the timeline for YVEA’s move from its current 58-year-old headquarters downtown on Yampa Street and into a roomier headquarters.

“We see this as a place we can grow in,” says YVEA president Diane Johnson, adding that they might lease some of the office space to others. “This was clearly our preferred alternative.”

YVEA’s departure from downtown also makes way for redevelopment opportunities there. Its downtown headquarters were recently put under contract with developer Blue Sage Ventures, which plans to repurpose the building into a mix of retail, residential and commercial spaces.

“Our vision is adaptive reuse,” says principal Steve Shelesky, adding that it should be an up to 55,000-square-foot project. “The entire street is an asset to downtown, and this building will be a part of that story. It will be an anchor at this end of downtown.” “It was a modern building, so we’re going to stick with modern industrial architecture,” he adds. “It’s going to be unique and well suited to meet the needs of the local business community.”

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