LOCATION

Truckee, CA 

PROJECT SIZE

178.9± acres 

DATE

Entitlements approved August 2014; Civil construction for on-site and off-site work started June 2019; Village Center residences commenced June 2020 

INFRASTRUCTURE DEVELOPED

StoneBridge Properties designed and constructed on-site civil improvements for the first phase of the project. On-site work includes water storage, substantial geotechnical remediation using dynamic compaction, earthwork, installation of wet and dry utilities, roadway and trail construction as well as wetland mitigation and creek restoration. Additionally, StoneBridge Properties is responsible for constructing extensive off-site improvements including two roundabouts, a culvert over Donner Creek, and over two miles of Class I Bicycle Trails (inclusive of on-site trails). 

LAND USES DEVELOPED 

  • Village Commercial Center 

  • 48 Units of deed-restricted Affordable Housing 

  • 252 Units of mixed-use and Single-Family Homes 

  • Approximately 5 miles of publicly accessible trails 

  • 100+ acres of open space and environmental restoration and enhancement  

EQUITY AND DEBT INVESTMENT

The project was financed 100% through equity provided by Teichert, StoneBridge Properties’ parent company. 

 

ROLE IN PROJECT

StoneBridge Properties is the Master Developer. 

PROJECT OUTCOME

StoneBridge Properties has sold finished lots to BUILT, a Reno-based homebuilder. Additionally, StoneBridge has transferred a parcel to Neighborhood Partners, LLC which has constructed and is operating the project’s 48-unit affordable apartment complex. 

AWARDS

2016 Affordable Housing and Sustainable Communities (AHSC)

Awarded by Department of Housing and Community Development and the Strategic Growth Council

2015 Small Jurisdiction Award of Excellence

Presented by Sacramento Valley Section of American Planning Association (APACA)

ColdStream

ColdStream is a 180± acre community situated adjacent to Donner Memorial State Park and an established residential neighborhood. The project site was once the location for an icehouse, trout farms, and a place for community picnics prior to being mined in order to provide construction materials to the Squaw Valley Olympic Site and Interstate 80, as well as the well-established Tahoe Donner neighborhood. Teichert first leased and then later purchased the site from its existing operator. 

The project was designed to restore and enhance the properties’ natural environment while delicately incorporating diverse residential and commercial land uses.

StoneBridge Properties began the ColdStream project with a vision of establishing a conservation-based community through the reuse of a former aggregate mine owned by Teichert. The project was designed to restore and enhance the properties’ natural environment (including pond, creek, wetland, and floodplain restoration) while delicately incorporating diverse residential and commercial land uses. Given Truckee’s engaged population and strong community policies, community outreach played a key role in the ColdStream project. StoneBridge Properties engaged the public through direct collaborations with Mountain Area Preservation, the Truckee River Watershed Council, California State Parks, Our Truckee River Legacy Trail Foundation, the existing Deerfield Drive neighborhood, and countless others. Largely as a result of StoneBridge Properties’ public outreach and its ability to find a common solution, the project was unanimously approved by Truckee’s Town Council on August 25, 2014. 

The final rendition of the ColdStream Specific Plan includes several housing types including mixed-use residential, attached half-plex units, detached residential, and lakeside homes, in addition to village commercial space. In total, it provides for up to 300 residential units, including 48 units of affordable housing. Further, the project includes public gathering areas throughout the site with approximately 5 miles of trails linking to the regional trail network in addition to the restoration and enhancement of over 100 acres of open space, ponds, and Cold Creek. 

After approvals were obtained, StoneBridge Properties was successful in obtaining a $10.7M Affordable Housing and Sustainable Communities Grant that funds a portion of the project’s civil improvements and affordable housing. The funding was awarded because of the project’s incorporation of affordable housing, efficient land use configuration, and utilization of significant trail systems to promote active transportation. As the project moved to its construction phase, StoneBridge Properties oversaw complex soils compaction procedures that were necessary because of the site’s prior excavation. The successful outcome generated by StoneBridge Properties’ work enabled the construction of civil improvements by Teichert. In the first phase, both affordable and market rate housing are constructed and occupied. Future phases will commence based on market needs.