Since the Town of Silverthorne was incorporated in 1967, it has undergone numerous changes to meet the community's evolving needs. As Silverthorne is experiencing a downturn in sales tax numbers for the first time in over a decade, the Town would like to share a history of economic development and community projects. With proactive budgeting and planning, the Town will continue to undertake new projects and community improvements in the future that align with the Town’s goals as outlined in the Comprehensive Plan and other documents created with generous input from Silverthorne’s residents.

Community Amenities

Due to an influx of sales tax over the past decade, Silverthorne has completed a number of projects that directly benefit residents. These include:

•  New traffic signal at Ruby Ranch Rd. and Highway 9
• Recreation Center expansion project
• Completion of the Trent Park expansion and Adams Avenue extension projects
• New sidewalks, funded in part by a $250,000 grant from the Colorado Department of Transportation
• New lighting on the Blue River Trail between Silverthorne Town Hall and the Silverthorne Pavilion
• Strategic land purchases such as the Burger King, Pizza Hut, Family and Intercultural Resource Center, and former Summit Fire & EMS Fire Station properties.
• The addition of 349 workforce housing units through the completion of the Smith Ranch Neighborhood.
• Renovations of the Recreation Center, Silverthorne Town Hall and the Art Spot Silverthorne Makerspace.
• New water lines at Hummingbird Circle and sewer line replacements across town.
• New facilities such as Cottonwood Public Works, the Silverthorne Performing Arts Center and the Wildflower Nature School
• Acquisition of public open space at Lowe Estate and along the Blue River Trail
• Replacement of the bridge over the Blue River by the Outlets at Silverthorne

Economic Development in Silverthorne

Economic development in Silverthorne has grown in tandem with the community over the last several decades, as periods of recession and prosperity have come and gone. Silverthorne remains committed to making Silverthorne an accessible and welcoming place for residents and business owners alike.

• 1990s:
  • 1989-1994: The first village at the Outlets of Silverthorne was completed in 1989. By the time the last village was completed in 1994, the Town had given up its property tax because sales tax revenues from the Outlets were so high. This allowed the Town to give back to the residents of Silverthorne, and today, Silverthorne is one of about six municipalities in Colorado that do not collect property tax. During the early 1990s, the Outlets accounted for 40% of the Town’s sales tax revenue, and sales tax comprised 75% of the Town’s total revenue. Today, sales tax revenue accounts for only half of the Town’s total revenue, and the Outlets contribute approximately 10% of total sales tax.
  • Silverthorne Town Council purchased all riverfront parcels between 3^rd and 5^th Street on the east side of Blue River Parkway to redevelop the area as a future downtown.
  • City Market relocated from the Summit Place Shopping Center in Silverthorne to Dillon, decreasing sales tax revenues by over $1 million.
  • The Urban Renewal Authority was created in 1996, declaring blight in commercial areas of Silverthorne and authorizing the Town to incentivize redevelopment.
  • Silverthorne began discussing the need for revenue diversification, instead of relying primarily on sales tax. An Excise Tax was created on new residential growth since the Town no longer had a property tax.
  • Due to declining sales tax revenue, the plan for the Town Center, located between 3rd and 5th Streets, was condensed to just the Silverthorne Town Pavilion. The Silverthorne Pavilion opened in 2001.
• 2000s:
  • The Three Peaks Development and Eagles Nest Golf Course began construction.
  • Silverthorne adopted the Enhanced Sales Tax Incentive Program (ESTIP), allowing the Town to share back increased sales tax generated by new businesses. This program has motivated the following businesses to open in Silverthorne since ESTIP was created in 2001: Target, Lowe’s, Which Wich, Murdochs, Bakers Brewery, Starbucks, Hampton Inn, Sauce on the Blue, Angry James, Timberline Craft Kitchen & Cocktails, TJ Maxx and Sierra Trading Post.
  • The Town created the Economic Development Advisory Committee (EDAC) to drive economic development in Silverthorne. EDAC was concerned with the performance of the Outlets and recommended diversifying revenue streams by creating a pedestrian-friendly downtown area that focused on Town amenities such as the Blue River, parks and recreation; bringing in major sales tax producers (i.e., Target); and creating new revenue streams, such as the Real Estate Transfer Assessment (RETA).
  • 2005 – 2008: In 2005, TGS REIT renovated the Outlets and the Craig Realty Group purchased the Outlets at Silverthorne
  • 2006 – 2007: The second phase of Silverthorne Town Center was completed, where Sauce on the Blue and Red Buffalo Coffee & Tea are now located.
  • 2006: South Maryland Creek Ranch was annexed, creating a revenue stream from RETA and provided a number of public amenities including, but not limited to, contributions to the Blue River Trail, Silverado Workforce Housing, and a 20 acre SMCR park.
  • 2007: Angler Mountain Ranch began development, creating another revenue stream from RETA. 
  • 2008: Silverthorne purchased 51 acres at Smith Ranch for future development.
  • 2008: A recession period began, and by the early 2010s, many businesses in Silverthorne’s downtown were failing or permanently closed, including the Old Dillon Inn, Big Horn Lumber and Old Navy.
• 2010s:
  • 2011: Downtown Colorado, Inc. created a concept of what Silverthorne’s downtown could look like.
  • 2011: Lowe’s was constructed.
  • 2013: The Urban Renewal Plan was updated, allowing the Town to partner with private businesses to share incremental property, sales and lodging taxes generated by redevelopment for the next 25 years. The plan focused on creating a pedestrian-friendly downtown, a focus on the Town Core rather than the entire commercial district, and sites such as 4^th Street, Smith Ranch, the Outlets at Silverthorne Green Village, and the Silverthorne Gateway.
  • 2013: The Silverthorne Urban Renewal Authority acquired the 11 acre Smith Ranch Commercial property for future development.
  • 2014: The Silverthorne Urban Renewal Authority purchased the former Acorn gas station in partnership with Craig Realty (Blue River Real Estate Company).
  • 2017: The Silverthorne Performing Arts Center was built, resulting in $500 million in private development between 2017 and 2024 in the Town Core.
  • 2018 - 19: Silverthorne worked with the landowners at Fourth Street Crossing to secure an entire block for redevelopment to implement the Comprehensive Plan’s vision for a downtown. Milender White broke ground for the new development in 2019, and businesses like Hotel Indigo, Bluebird Market, and Kucu Tequila Bistro began opening to the public in 2022.
  • 2018: Construction at the Smith Ranch Workforce Housing development begins.
  • 2019: Outlets at Silverthorne demolish the Green Village North for future redevelopment.
• 2020s:
  • 2021 - 2024: Burger King, Pizza Hut and Arby’s close. The Town purchases the former Burger King and Pizza Hut buildings for the eventual realignment of Stephens Way. In 2024, the former Pizza Hut is leased to Café Food Rescue and the former Burger King is demolished.
  • 2022-2023: The Urban Renewal Authority conveys 0.5 acres of the Smith Ranch commercial authority to build the Wildflower Nature School and 5 acres of commercial property to build the Smith Ranch apartments.
  • 2023: Silverthorne converts the non-operational fire station to the Art Spot Silverthorne Makerspace.
  • 2024: Milender White breaks ground at the 4^th Street North development to build a Holiday Inn Express and retail and residential units. The developer has an agreement with the Urban Renewal Authority to receive incremental sales, lodging, and property tax generated by the redevelopment.
  • Smith Ranch Neighborhood and Smith Ranch Apartments are completed providing for-sale and rental workforce housing opportunities.

Private Projects completed over the past 10 years:

• Aiden West (North Shores)
• Alpine Lumber
• Angry James Brewery
• Apres Shores
• Arbys Demo
• Bakers Brewery
• Blue River Flats
• Blue River Flats II
• Buffalo Mountain Storage
• Colorado Department of Transportation (CDOT) Maintenance Facility
• Days Inn CUP for workforce housing
• Family Intercultural Resource Center (FIRC)
• Fourth Street Crossing – Parking Garage, Indigo, Market Hall, Mixed Use
• Fourth Street North – Parking Garage, Holiday Inn Express, Workforce Housing, Mixed Use
• McDonalds Scrape and rebuild
• Neils Lunceford
• Outlets at Silverthorne Green Village Demo
• Outlets at Silverthorne Red Village Demo
• Rivers Edge Condos
• River West Condos
• Sierra Trading Post
• Silverthorne Childcare Center (Wildflower)
• Silverthorne Storage
• Stinker (Sav-o-mat) remodel
• Summit Blue
• Summit Fire And EMS Fire Station
• The Pad
• The Wave
• TJ Maxx

The Future of Silverthorne

As the Town of Silverthorne looks toward the future, it will continue to follow its publicly created planning documents that guide the Town’s priorities and growth. These plans are created with opportunities for public comment, open houses, stakeholder meetings and more, to create a future Silverthorne that aligns with the community's vision and goals. These plans include:

•  Comprehensive Plan
• Parks, Open Space and Trails Plan
• Arts & Culture Strategic Plan
• Transportation Plan
• Sustainability Strategic Plan

These plans also guide how the Town prioritizes projects and budget, and the 2025 budget has been amended to adjust the pace of projects in Silverthorne to align with the current sales tax revenue. The Town has paused several capital projects, including the new Silverthorne Police Department facility.

The Town of Silverthorne will continue to evaluate sales and lodging tax numbers as they are available throughout the year and will adjust the budget as needed to maintain the services and facilities expected by the community. Silverthorne prioritizes maintaining a strong financial reserve and regularly evaluates day-to-day operations and cost-saving opportunities to ensure the needs of residents are met.