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City approves development agreement and TIFs for Preserve of Montrose; developer plans fall work
Summary
Council approved a development agreement and TIF contracts for Phases 1 and 2 of the Preserve of Montrose and the developer said site work could begin in mid-August with home deliveries possible in 2026.
The Montrose City Council voted to approve a development agreement between the City of Montrose and JPB Land LLC and to adopt amended and restated TIF contracts covering Phase 1 and Phase 2 of the Preserve of Montrose.
The council approved Resolution 2025-19 (development agreement for Phase 2) and separately approved amended TIF contracts for Phase 1 and Phase 2. Staff said Phase 2 includes 53 units and that the Phase 1 TIF language was amended to incorporate newly proposed rental units and updated calculations. All votes on those items were recorded 4-0.
Representatives of the developer thanked council and staff and described timing: "Looking at starting probably around the middle of August, development work to follow this year into the fall and then delivering homes in 2026, potentially," a developer representative said. The developer said they were finalizing contracting and financing and were excited to begin grading in the coming weeks.
Council and staff thanked the developer for being local and responsive during the review process. Staff noted that the development agreement allows for agreed adjustments after approval and that further review and permitting will follow before vertical construction.
