The Canyon Springs of Truckee project is being proposed and submitted to the Town of Truckee with eight phases as depicted in the example to the right.  Because the number of phases to the project may change, we have provided a simplified model below to highlight the benefits of phasing and to also show how phasing works.

On average, custom lot subdivisions in the Truckee area experience a relatively low build out rate. This is generally attributed to custom lot developments being used for various investment opportunities, including second homes, land purchases for future construction of a retirement home, speculative development by local contractors, and new home construction. In addition, custom lot subdivisions are generally constructed in phases.

The majority of custom lots created within subdivisions in the Truckee area 2001 to 2007 have sold or transferred to different ownerships, however approximately 3% to 11% (annually) of the lots have constructed homes. This coincides with the fact outlined above that custom lot subdivisions are used for a variety of diversified financial opportunities that may not result in the direct build out of homes on each of the lots created. This factor is important when considering the direct impact associated with school capacity, traffic impacts, road capacity, and impacts on local infrastructure.

For the purposes of assessing the build out rate with the Canyon Springs development, we have used the proposed phasing plan to assess build out. Based on that plan, the build out rate for Canyon Springs is assumed to be as follows:

• A 185 lot subdivision constructed in Three Phases.
• Phase I assumed to be 60 lots; Phase II assumed to be 60 lots; Phase III assumed to be 65 lots.

Each phase would be completed within two years. Assuming one year of construction for each phase and one year devoted to lot sales, we would anticipate construction/sales within the Canyon Springs development during the following time periods:

• Phase I construction starting in 2011 / Lots available for sale in 2013.
• Phase II construction starting in 2013 / Lots available for sale in 2015.
• Phase III construction starting in 2015 / Lots available for sale in 2017.

Using a 10% estimated annual build-out rate for Canyon Springs and an average 12-month home construction period, phase I would generate 6 completed homes by 2013 and 6 additional homes each following year. With the addition of phase II, 2015 would yield 12 homesper year (6 for Phase 1 & 6 for Phase 2). With the addition of Phase III, 2017 and beyond would yield approximately 18 homes per year until project build-out. Using the above formula, it is anticipated that approximately 108 homes would be completed by 2020 with an additional 18 homes added each year thereafter. However, it is important to note that complete build out generally does not occur with any 25-year planning horizon.

Currently TTUSD has a development impact fee of $2.63/sq. ft. for new construction. Based upon a standard residential house of 2500 sq. ft., the impact fee per household is estimated to be $6,575.00. In theory, the Canyon Springs project is anticipated to build 108 homes by the year 2020 and would have generated approximately $710,100 in school impact fees (under the current fee schedule).

In contacting school district representatives, Glenshire Elementary School’s grades K-5 have an average generation of students per household of .16. Using this generation factor for gauging student population generated from 108 homes it is anticipated by 2020 that 17.28 (or 18 students) would be the impact to the Glenshire Elementary School. However, it is important to remember that those 18 students would generate approximately $710,100 in school facility fees for classroom renovation and construction in addition to the standard State and Federal dollars for daily attendance per pupil for general operating budgets.

The same concept holds true for traffic generation. The general standard to estimate traffic from new residential development is 9.57 trips per day per new house or .975 peak hour trips per unit. In general, using the build out assumed above, by 2015 you would see an additional 115 car trips per day or 12 peak hour trips on the Glenshire roadways. In general, there would be no noticeable traffic generation from the Canyon Springs development until 2020 or beyond.

The project will be proposed in phases; however, the exact number of phases and their size will be further refined based on Town input and market conditions.