New 90-unit housing development in Steamboat first ‘meaningful’ project aimed at workforce with moderate incomes
STEAMBOAT SPRINGS — It’s still an issue to find affordable housing in Steamboat Springs. According to the Yampa Valley Housing Authority, there’s a 448-unit shortfall in demand for local housing.
The Reserves, a 48-unit apartment community that opened in 2017, still has a waiting list of up to 200 people, and 392 households applied for the 72 units at Alpenglow, which began leasing earlier this year behind Walgreens.
“All indicators say there’s still quite a bit of demand out there,” said Jason Peasley, executive director of the Yampa Valley Housing Authority.
The housing authority developed both The Reserves and Alpenglow. Its latest housing community, Sunlight Crossing, just broke ground and hopes to add more relief. This time, the target residents are local workers.
Ninety units will be created, in studio, one-, two- and three-bedroom configurations. The housing will be priced for residents who earn 80% to 120% of the average median income — that’s $48,880 to $94,200 for a household of three.
Peasley said Sunlight Crossing is considered to be complementary to The Reserves and Alpenglow, which mainly serve low-income households. The new project will focus on those earning moderate incomes. Peasley said that socioeconomic group is often referred to as “the missing middle.”
There’s low-income subsidized housing and open market rate, but left in the middle are those with moderate incomes, he said.
“The people that end up having the least amount of supply is that missing middle, especially in a high-end resort town like Steamboat,” Peasley explained. “(Sunlight Crossing) is the first meaningful supply at the moderate income group.”
Alpenglow offered only 24 out of its 72 total units for moderate earners.
The housing authority’s goal is to provide housing for the full spectrum of incomes.
“Ideally, we’ll be able to build a supply within that spectrum that allows for mobility,” Peasley said.
The total amount of units just between Alpenglow and Sunlight makes up 27% of the housing authority’s 600-unit goal to be reached by 2030.
Sunlight Crossing is located on the north side of U.S. Highway 40 on Steamboat’s west side. The property borders Steamboat Veterinary Hospital to the west and Sunlight Drive to the east. It’s across from Curve Court and the entrance to Cook Chevrolet.
Peasley said the intention was to build along the major bus routes.
Sunlight Crossing is notably the second project to utilize the housing authority’s 5A property tax, which was passed by voters in 2018.
“I’m thrilled to see this project break ground and watch new, workforce housing develop in Steamboat that is geared toward our local working individuals and families, that will remain affordable in perpetuity,” Peasley said.
The housing authority partnered with Gorman & Co., LLC, a housing development company that focuses on workforce and affordable housing in a number of major U.S. cities. Gorman & Co. has collaborated with Vail Resorts to build workforce housing on land it owned near Keystone resort.
“We are excited to bring new housing to Steamboat that will be set aside for local residents with rent caps,” said Kimball Crangle, Colorado market president for Gorman & Co. “With the ever-increasing demands for housing in town, Sunlight Crossing will offer new, more affordable options specifically intended for the local workforce earning a spectrum of incomes.”
Peasley said the design and quality of Sunlight Crossing will largely be along the lines of that found at Alpenglow and The Reserves, offering a modern, mountain aesthetic.
“(The) low-income apartments don’t scream low income,” Peasley said.
The Steamboat Springs Planning Commission in January voted unanimously in favor of the project but had some concerns about the traffic it would generate.
Peasley said a traffic study, which was completed with the project’s plan, showed the adjacent intersection would be adequate to support the increased traffic, though changes could be made to the turning lanes along U.S. 40 in the area.
Sunlight Crossing will begin leasing in summer 2022 with delivery of its first units in November 2022, according to Crangle. Major construction at the site is slated to begin in the spring.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
Support Local Journalism
Support Local Journalism
Readers around Steamboat and Routt County make the Steamboat Pilot & Today’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Each donation will be used exclusively for the development and creation of increased news coverage.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User