Verona hears two competing Range Trail proposals; council asks staff for comparative analysis

Fiduciary Real Estate (Tony DeRosa) presented the Reserve at Range Trail, a 329‑unit mixed multifamily proposal the company described as a market‑rate community with a range of 2‑ and 3‑story buildings, 55% green space, a step‑down transition to adjacent single‑family homes and a purchase‑price approach of approximately $17,500 per unit.

Cascade Development (Luke Stofficker) presented an alternate approach with multiple density options and an emphasis on placemaking and sustainability amenities — including a proposed greenhouse, prairie plantings and community retail — and offered a base floor purchase price tied to a minimum unit count with higher offer amounts at higher densities.

Council members pressed both proposers for third‑party market data, unit‑price math, sustainable‑building features (solar, heat pumps) and options to create a lower‑height transition adjacent to single‑family lots. Several council members said they favored different tradeoffs: fiscal benefit to the city versus neighborhood transition and retail resilience. Staff said all proposers had indicated willingness to temporarily host the city's salt shed if needed.

No sale or contract was approved. Council asked staff to return at a future meeting with (1) price‑per‑unit comparisons across low/medium/high density scenarios; (2) traffic‑impact estimates for a range of 350–500 new units; (3) clarification of sustainability commitments (solar, heat pumps); and (4) confirmation of developers’ willingness to host city operations temporarily.