Press Release: First Cottonwoods Lottery Opens Door to Homeownership for Routt County Workers

Published On: March 6th, 2026Categories: Press Releases

STEAMBOAT SPRINGS, CO – March 5, 2026 —

Eleven Routt County households are one step closer to homeownership after the Yampa Valley Housing Authority (YVHA) held the first lottery for homes at The Cottonwoods at Mid Valley, a new deed-restricted condominium community designed for the local workforce and local retirees.

The first lottery included eleven (11) homes for households earning up to 100% of Area Median Income, or up to $91,000 for an individual and $140,400 for a family of five. A total of 44 applicants entered the lottery, many selecting multiple units as preferences.

The winners reflect the diversity of Steamboat’s workforce, including a teacher and janitorial staff member from the Steamboat Springs School District, healthcare professionals from UCHealth, Routt County employees, a nonprofit professional, and workers from the restaurant and hospitality sector.

For the YVHA team, the moment was deeply meaningful. “We are changing people’s lives today,” said Alyssa Cartmill, Sales and Asset Management Manager at YVHA, as staff gathered to watch the automated lottery system select winners. “Every time a name came up, the office erupted in applause because we know what this opportunity means for people who work hard to make this community thrive.”

After the drawings, YVHA staff personally called the winners—conversations filled with excitement, disbelief, and joy. “These are the moments that remind us why we do this work,” Cartmill said.

Once buyers confirm their intent to go under contract to purchase a unit, they will work with Transaction Brokers at The Agency to complete the sales process.

More Opportunities Ahead

While the first lottery has concluded, many opportunities remain for local workers who want to become homeowners in Steamboat Springs.

The lottery schedule for Building Two is as follows:

  • Up to 120% AMI – 9 homes
    • ($109,200 (individual) to $168,480 (family of five))
    • Lottery opened March 4 until March 10, Drawing held March 11
  • Up to 130% AMI – 4 homes
    • ($118,300 (individual) to $182,520 (family of five))
    • Lottery opens March 10 until March 17, Drawing held March 18
  • Up to 140% AMI – 19 homes
    • ($127,400 for an individual to $196,560 for a household of five)
    • Lottery opens March 19 – March 26, Drawing held March 27

Applicants who were not selected in the first lottery may still enter upcoming lotteries for higher AMIs if they meet income requirements and provide documentation from their lender confirming they can afford homes in those price ranges. See the full Area Media Income (AMI) chart here.

In addition, another round of lotteries for Building One—also contains 43 homes with prices ranging from $266,000 to $455,000, which includes 13 units for households earning up to 100% of AMI—will begin in April, creating even more opportunities for local residents. The pricing guide can be found here.

Interested buyers can begin the process by completing the Homeownership Pre-Screening Form.

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