Update regarding the proposed BVSD school in Parkdale

In March, the Boulder Valley School District provided an update to the Town of Erie regarding the potential construction of a new BVSD school in the Parkdale development, indicating that there are several important procedural and site readiness factors that must be resolved before the district could move forward with construction. 

Proposed school site is not yet under BVSD ownership
Per Section 3.b of the Agreement for Fair Contributions IGA, the site is to be dedicated to the school district prior to or contemporaneously with final plat approval. However, the Parkdale Filing 6 Final Plat application, which includes the school site, has not yet been approved by the Town of Erie. The timing of that approval, and the eventual transfer of the land to BVSD, will depend on both the developer’s timeline and the Town’s review process.

Oil and gas wells in the vicinity of the proposed school site
The developer is currently working to decommission these wells, but this is a complex process that can take considerable time. While the Colorado Energy and Carbon Management Commission requires setbacks of 2,000 feet between new wells and homes, schools, and other protected areas, there is no similar setback requirement for wells that have been plugged, sealed, and abandoned. Even so, prior to accepting the site, BVSD requires documentation that any oil and gas wells within 2,000 feet of the property have been properly plugged, sealed, and abandoned in accordance with Colorado Energy and Carbon Management Commission regulations and that they do not pose a risk to public health or the environment. This includes the nearby well located west of the proposed school site.

Slow enrollment growth in the area
Beyond these site readiness issues, the district is also continuing to monitor whether enrollment growth in the area will support the need for a new school. BVSD has been engaged with the developer and the Town of Erie regarding the potential school site since 2018. Funding for a new school in Erie was included in the district’s 2022 bond program and was approved by voters. At the time the bond measure was developed, enrollment projections indicated that future residential growth in the area could support construction of a new school. However, as development has progressed, the number of students generated from new housing has been lower than originally projected.

The district tracks student generation rates, often referred to as housing yields, to better understand how many students are produced by different housing types. To date, the yields from homes constructed in Parkdale are lower than those in Flatiron Meadows and Compass and are also below the historical averages for similar housing types in the area. While it is still early in the build out of the community, this trend is consistent with patterns we are seeing in other areas.

For reference, the table below compares historical student generation rates in the area with what the district is currently seeing in newer subdivisions.

*The far right column is included for comparison and shows a district average yield by housing type from 2016 to 2022.
 

These early rates indicate that the number of students produced per home in Parkdale is currently below historical averages. We believe this is influenced in part by the high cost of housing in the area, which may limit the number of school age children living in newly constructed homes. In addition, broader demographic shifts are affecting enrollment patterns in many communities. These factors are largely outside of the district’s control, but they do influence when new schools are needed.

Issuance of bonds for new school delayed
Because of this uncertainty, the district is deferring issuance of the $50 million in debt associated with the project. Delaying the issuance of these bonds allows the district to be fiscally responsible and to wait until additional housing construction is completed and enrollment projections more clearly support the need for a new school. The Board of Education can authorize the remaining balance of the approved debt at such time as projected enrollment demand is met.

Given the uncertainties around both site readiness and student generation, the district always anticipated that the Parkdale school would likely be constructed in the later phases of development.

BVSD continues to closely monitor housing construction, births, and the number of school age children living in the community. To date, despite a number of homes being completed, these indicators remain below the levels needed to support a new school. As a result, the timing for beginning design and construction of the school is unknown at this time.

BVSD remains committed to working with the Town of Erie and the developer as the Parkdale community continues to grow. As site readiness conditions are resolved and enrollment demand becomes clearer, the district will be in a better position to determine the appropriate timing for moving the project forward.