Commission grants two-year extension for Pines at Stone Ridge PUD, citing market and financing delays

The Woodland Park Planning Commission on June 11 approved a two-year extension for the Pines at Stone Ridge planned unit development and preliminary plat (A26-0080), moving the project’s new expiration date to April 14, 2028. Planning staff said the extension application was timely under the city’s Unified Development Code and that prior grading/ infrastructure permits and ongoing financing discussions demonstrate substantial progress.

Applicant Craig Ole, calling in from Colorado Springs, told commissioners higher interest rates and uncertain for-sale town-home markets since the project’s 2022 approval have delayed construction. He said the developer is seeking deeper-pocketed partners and does not want to assume construction financing until the market can absorb the finished product.

A Stone Ridge Village resident, Michael Sand, testified in public comment that he is "vehemently opposed" to the development because of traffic and safety concerns at the Research Drive/Highway 67 intersection; he also raised unrelated HOA financial allegations. Ole said those HOA issues do not involve this project and reiterated that traffic studies were completed and that the approved change from apartments to for-sale town homes reduced density.

Commissioners found that circumstances since original approval had not materially changed in a way that would defeat the code criteria for an extension and voted unanimously to grant the requested two-year extension. The extension lets the applicant preserve the entitlement while pursuing financing and partner arrangements; it does not authorize construction until required permits are obtained.