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REQUEST TO REDUCE THE MINIMUM SQUARE FOOTAGE OF

SINGLE STORY DWELLINGS

LOTS 71-93 OF STONEBRIDGE FILINGS

Cedaredge 1, LLC 112 Village Square West• Ridgway• CO 81432 (970) 209-4760

February 6, 2017

Board of Directors

Deer Creek Villages Owners Association, Inc.

405 S. E. Jay Avenue,

Cedaredge, Colorado 81413

Re: Request to Reduce Single Story Dwelling Size

Dear Board of Directors:

Cedaredgel LLC hereby requests a reduction in the square footage requirement for a single

story dwelling to a minimum of 1100 square feet of improved enclosed space, excluding

garages and basements for the following lots:

• Lots 88 - 93, Stonebridge Filings 3

• Lots 78 - 87, Stonebridge Filings 4

• Lots 71 - 77, Stonebridge Filings 5

This request is for a reduction in size only for the lots described and does not include any other

developed, platted lots within the Stonebridge or Stonegate filings owned or controlled by

Cedaredge 1 LLC. All other requirements set forth in the Master Declaration of Deer Creek

Villages and the Deer Creek Villages Design Guidelines and Rules and Regulations and its future

amendments shall remain in force.

Overview:

The included lots, often referred to as the cul-de-sac lots, include all platted, developed lots on

the east side of Stonebridge Drive between SE Independence Avenue on the south and SE Deer

Trail on the north. The purpose of this request is to provide additional flexibility in new home

sizes to serve the current market demand for smaller homes of high quality, while still meeting

the design expectations of the existing community. Each homeowner will be required to

maintain their entire property, as is the case with all existing residences.

The Changing Market:

The national trend for new homes has been trending towards smaller square footage. This is

especially true for maturing baby boomers looking to downsize. Included in this group is a

significant number of single individuals who have no desire for a large structure. Many of these

potential owners are looking to maximize their retirement savings by selling their existing

residence and downsizing to a less expensive and lower maintenance home. However, they do

not want to sacrifice the quality of construction or limit the features in the residence. Put

succinctly, buyers want a beautiful home with all the comforts, just not a large home.

Reasons for DCVOA Approval:

There are many upsides to approving this request and no apparent downside so long as the

new homes are of high quality. Upsides include:

1. New homes will be available for existing DCVOA residents to downsize into without

leaving the neighborhood.

2. The new homes will not compete with existing residences, which are larger in size and

serve a different customer type.

3. The lots in question are not adjacent to any existing residences and can thus "stand

alone".

4. Marketing of the new homes will bring new buyers into the community, many of whom

will be interested in larger homes, both new and existing.

5. New residents are good for the DCVOA, the golf course, and the Town of Cedaredge.

6. It's common knowledge that within covenant controlled developments, the value of

existing homes will rise when the inventory of developer owned lots shrinks.

Cedaredge 1 LLC - forward looking plans:

Assuming the approval of the lowered square footage requirement requested, Cedaredge 1 is

looking to work with one or more qualified builders to begin construction of new homes in cul-

de-sac lots. A sampling of 4 of the home types is being submitted with this request. We want

to make it clear that these plans be will modified as needed, i.e. added stone veneer, to meet

the existing architectural guidelines of DCVOA. Cedaredge 1 will market these homes and all

vacant lots at the existing sales office on Stonebridge Dr. These properties will also be made

available to local realtors.

The remaining developed lots owned by Cedaredge 1 LLC, including the river front lots along

Stonebridge Drive and all the remaining unsold lots in Stone Gate will continue to be sold to

new buyers and builders under the existing DCVOA guidelines and size requirements.

Request for Approval:

Deer Creek Villages is located adjacent to a beautiful golf course, unprecedented beauty,

abundant wildlife and extensive public lands. Providing a diversity of home sizes allows

flexibility for those desiring to live within this unique and exceptional community. Approval of

this request to reduce the square footage requirement for a single story dwelling with the

selected Stonebridge lots will provide greater opportunities within the community while

maintaining consistent quality and style demanded in the design guideline. We thank you for

your consideration.

Sincerebi.-

n ZEIP e t 7s

Managing Partner

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