Lottery for Sunlight Crossing housing units ends Friday night
Move in for the 90 units is expected in early July
The lottery to get one of the Yampa Valley Housing Authority’s new units at Sunlight Crossing west of Steamboat Springs will remain open until 11:59 p.m. Friday, June 24.
Nearly 1,000 people have expressed interest in the new 90-unit complex. The lottery is being deployed to ensure fairness among applicants, as the housing authority has done in previous lease-ups.
The first 90 people selected for a unit in the lottery will be notified on June 30. At that point, housing authority personnel will work with the lucky applicants to ensure they meet the income requirements.
If some of those drawn in the lottery do not meet the requirements, the housing authority will reach out to the next applicants drawn in the lottery. People are expected to move into these units in July.
“Sunlight Crossing is the effect of YVHA’s strategy and policy to add a spectrum of housing supply to Steamboat,” said Alyssa “La La” Cartmill, property and asset manager for the housing authority. “This property is an opportunity for 90 households to secure affordable workforce housing.”
Each household is asked to submit only one application, as multiple applications from the same household could potentially disqualify someone from getting a unit.
The 90-unit building is the first in Steamboat targeted at middle-income residents, with 45 of the units earmarked for people who make less than 80% the Area Median Income, 23 for less than 120% the AMI and 22 without any income restriction.
The AMI is based on figures generated by the Colorado Housing and Finance Authority. The most recent update saw Routt County’s AMI jump by 12%, to $71,700 a year. This increase led to rent being higher than some residents may have expected, but costs are still below the maximum price allowed by state regulators.
For example, the state would allow rent for a one-bedroom apartment priced at 120% AMI to exceed $2,300 a month. But at Sunlight Crossing, this unit will cost $1,900 a month. For a two-bedroom at 120% AMI, rent is set at $2,600 a month
A one-bedroom at 80% AMI is just over $1,500 a month, and a studio just over $1,400 a month. There are market rate units as well, but only with two- and three-bedroom layouts, priced at $2,700 and $3,400, respectively.
To be eligible for the 80% AMI units, a single person would have to make less than $57,360 a year. For a family of four, they would need to make less than $81,840 a year. At 120%, a single person needs to make less than $86,040 a year and a family of four would need to make less than $122,760.
If selected in the lottery, applicants over age 18 will be subject to a background and credit check. That check is covered by a $25 fee. If approved, a security deposit of one month’s rent will be due.
If all is well, applicants will get a one-year lease that includes one parking spot. Up to two pets are allowed with a cumulative weight of 120 pounds for an additional fee.
To reach Dylan Anderson, call 970-871-4247 or email danderson@SteamboatPilot.com.
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