Located in the charming mountain town of Pagosa Springs, CO, Reservoir Ranch presents the unique opportunity to purchase 492+/- acres in a highly coveted location for use as a private residential ranch property or a County-approved mixed-use development opportunity. Within walking distance of the famous Pagosa Hot Springs and all downtown amenities, Reservoir Ranch offers a rare combination of accessibility and serene privacy with staggering mountain views, lush, irrigated meadows, creeks and ponds, fencing and miles of access roads and trails for hiking, biking, ATV's and horseback riding. This Pagosa Springs real estate property also enjoys ownership of extensive documented senior water rights from multiple sources. While the property can be retained as an amazing private ranch, it has the benefit of a transferable Development Agreement with Archuleta County, providing for long term vested development rights extending through September 1, 2034. The vesting allows for potential development of 900 +/- units in total (less the allocations to parcels not included in the subject offering) and some mixed uses. A copy of the Development Agreement and accompanying conceptual development plan is available upon request. Utilities available. Recognized and awarded by the State of Colorado for top-tier forest Stewardship, conservation and fire prevention practices on the property, ownership has also documented research into the possible use of geothermal resources for power and greenhouse support. This rare property offering and its various development parcels are available in bulk sale, but ownership would consider the sale of individual development parcels with appropriate pricing allocations. Please contact Brokers for maps, development documentation and additional information on this unique opportunity.