The Boulder City Council on Thursday, Sept. 5, approved plans for 45 compact apartments, each roughly 300 square feet, on the east end of Pearl Street.
This is one of the first times the current council, which has prioritized housing affordability, has weighed in on a specific housing project. Much of the discussion centered on the anticipated rental prices for the units.
The development at 2206 Pearl Street is among the first of its kind in Boulder. The developer, stok Investment Group, a real estate firm with offices in Boulder, aims to bring down costs by building small housing units and fewer parking spaces. These “micro units” would feature robotic furniture to optimize space. The developer also plans to include less than half the parking spaces typically required by city code, while offering incentives for residents to use alternative transportation options like buses, bikes, scooters and car-sharing programs.
The project aligns with the city council’s broader housing affordability goals. In 2023, councilmembers adopted new zoning regulations to speed up the construction of smaller, efficiency living units in mixed-use areas. They are also considering eliminating parking minimums citywide to help cut development costs.
However, earlier this year, in response to some community concern, councilmembers voted to “call up” the project for a public hearing. This process allows them to suggest changes or potentially deny the proposal, creating uncertainty for developers. Ultimately, no changes were suggested. But Thursday’s debate underscored the diversity of opinions on the project and highlighted ongoing tensions over housing development in a city struggling with an affordability crisis.
Councilmembers Taishya Adams and Mark Wallach voted against the project, citing concerns about the expected rental prices. In today’s market, the units would rent for about $2,500 per month, according to estimates shared by the developer in prior public meetings.
“This kind of housing will not help us meet the needs of our families,” Adams said during the meeting. “We want housing that is affordable in a variety of different ways in a variety of different areas.”
Supporting the project were Mayor Aaron Brockett, Mayor Pro Tem Nicole Speer, Matt Benjamin, Lauren Folkerts, Tina Marquis, Ryan Schuchard and Tara Winer. Some argued that the developer could have proposed high-end luxury condos instead, which are already common in the area.
“These new units will not be dirt cheap, but they will meet a housing need,” Brockett said.
The developers have said the project would be Boulder’s first “zero-carbon” housing project, certified by the Living Future Institute. The all-electric building would run on renewable energy sources like wind and solar and the construction process would consider the carbon footprint of its materials.
“I think that is, as an architect, a huge undertaking,” Councilmember Folkerts said. “I look forward to hearing what ways in which it is difficult for you to achieve that.”
The development also includes about 2,000 square feet of ground-floor commercial space. The site is currently occupied by an online gifting company and glass-blowing studio.
The project, which has been under city review since May 2022, still requires demolition and building permits.
It’s not really a crisis when markets behave exactly as they could be expected to. Trying to make an expensive place to live “affordable” is like trying to make water run uphill.
It’s very easy to make a place affordable, build housing where people want to live. Every city that has done so has either seen rents decrease or stop increasing. You really shouldn’t be shocked that making new housing illegal would make housing costs go up.
If it were easy, the US wouldn’t be 4 million units short.
Worst project Boulder has approved in years. There is literally no limit to what the developers can charge and their statement that the units will rent forn$2500 is hot air. $2500 isn’t affordable in any way. Boulder is going in the wrong direction.
So true. By the time it’s built a year from now it will probably cost $3k/month. And every year or two rents will have to increase significantly to satisfy the equity investors need for a decent return. Even worse, it’s like no one understands or cares about the effect this will have on the rental market overall. Stok is leading the way with this extremely small, extremely expensive project, and rents across Boulder will rise in response. Has any rental ever cost more per square foot in Boulder?
A second issue: Just the fact that they are calling 300 square foot furnished units missing middle housing is a slap in the face to anyone actually seeking that in Boulder.
Affordable housing in Boulder is a fools errand. It has disappeared gradually, with each governemental/voter decision that raised the cost of living over my 57 yrs here. The damage has been done and now demand far outstrips supply. Any affordable housing is merely subsidized housing.
BCC is delusional. You can’t fit a family in 300sq ft, especially with space optimized robotic furniture placement, so it doesn’t help with affordable family housing. You can’t call $2500/month ‘affordable’ for that space if it suits just one person. This is ‘feel good’ nonsense.
A 300 sq. ft “closet” for $2500/month??? Boulder has jumped the shark in its pandering to the affordable housing faction. Pssstt … guess what, folks? You can’t afford to live here. Sorry …
Amen!!!!!
I’m curious what the actual population density is for this compared to another apartment complex that’s new. These are too small to facilitate roommates, which is how many folks can afford apartments. Let’s say this fills up with students. If this is 1 person per apartment and the other place is 1 person per bedroom, does this actually allow more people to live here or are they just charging full price for half an apartment?
What does ‘easy’ mean? Builders/developers are for-profit organizations, and the cost to build in Boulder is very high. Those cities you speak of (but didn’t reference) have lower build costs and the cities likely subsidize the build cost/drive the development themselves. Boulder already forces builders to incorporate low income options on new projects, reducing their margins, and Boulder doesn’t subsidize (unlikely to change) so it isn’t going to produce an ‘easy’ solution.
300ft of living space for $2500! That’s hardly affordable and too small to have a roommate to share the rent, makes no sense. Seems like that size space is for one person only.
And parking less than half of the ”normal’ required parking space…even more ridiculous.