YVHA acquired the Mid Valley property in Autumn 2021 thanks to a generous anonymous donation. We were also awarded a $4 million grant from the Colorado Department of Local Affairs, Division of Housing through the state legislative bill, HB22-1304 Transformational Affordable Housing, Homeownership, and Workforce Housing Grant Program.
With our development partner, Lone Tree Trust, LLC, we plan to develop 234 units of moderate-income housing, including 150 rental apartments and 84 for-sale condominiums. All units will be deed-restricted and will target members of the local Routt County workforce or retired from local employment. This project will be a dense, efficient use of infill land near transit and services.
Two of the four buildings will contain condominium units, with a mix of 1-, 2-, and 3- bedroom units, and covered, ground floor podium parking. The project will include two neighborhood parks, open space, and trails connecting to the Yampa River Core Trail.
This development is considered an attainable housing project because it is geared towards individuals and families in what is considered the “missing middle” range. The tenants will earn 80%-140% of Area Median Income. This translates to $61,926 -$95,977 for a single person according to the 2022 federal Department of Housing and Urban Development standards and $79,544 – 123,282 for a three-person household.
The project is expected to be phased, with the for-sale units being delivered in 2025 and the rental units being completed in 2026.
“I want to first thank the Steamboat Springs voters who passed the affordable housing levy in 2017. YVHA takes our commitment very seriously and we are using the funds from the community to leverage partnerships with development groups, like Lone Tree Trust to build the housing our community needs. This project will increase new for-sale housing stock, for which there is significant demand among the local workforce.” said Jason Peasley, YVHA Executive Director.
Press Release: YVHA’s Mid Valley Groundbreaking