In the mountainside resort town of Breckenridge, Colorado, workers have a hard time finding housing. A large portion of the area’s homes are vacation properties, sitting vacant for significant amounts of the year. For-sale housing is scant, too, and due to high demand from vacation home buyers, prices are far out of reach for many who live there full time.
That’s where Vista Verde comes in—an 80-unit affordable housing community reserved for low- to moderate-income earners. The property was developed in partnership with the town of Breckenridge in an effort to alleviate the pinched housing market. The town offered a land lease, fee waivers, rebates, subsidy loans, and tax exemptions to help make Vista Verde a reality.
“Processing over 400 applications for just 80 units underscores the high demand for affordable housing here,” says Kimball Crangle, Colorado market president at Gorman & Co. “These apartment homes offer a full spectrum of housing options for those who are in need of housing in the community where they work.”
The property is built with workers in mind, too. Situated conveniently on a countywide bus route and the Blue River Bikeway, residents enjoy easy mobility throughout the area. There is also a local bike-sharing program and an on-site bus stop for even more convenience.
To top things off, the $32.3 million development is a net-zero energy consumption property. Vista Verde’s 650-kWh solar panel system allows for an all-electric development, and there are electric-vehicle charging stations on site.
