New workforce housing has opened in Keystone with 196 affordable housing units and more on the way. The new Village at Wintergreen is officially open to Vail Resorts seasonal employees. Additionally, the project will continue to open more units through the winter and spring to Summit County employees.
The multi-building new workforce housing development is located at 280 Antlers Gulch Road in Keystone with numerous community features. Amenities include laundry facilities, a playground, dog park, community garden and it is on the bus route.
The new workforce housing project and associated affordable rental rates were developed via a collaboration between the Summit Board of County Commissioners, Vail Resorts and the developer, Gorman & Company.
The available workforce housing is comprised of units rented based on low-income housing tax credits. In other words, units that are rent-capped based on area median income. Specifically, thirty-six units are master leased to Vail Resorts seasonal employees. Additionally, 40 more units which are one-room, two-room and three-bedroom units are income-restricted by low-income housing tax credits.
These rents are broken down as follows;
• Rent for families or individuals at 30% AMI: $447 for a one-bedroom unit, $531 for a two-bedroom unit.
• Rent for families or individuals at 50% AMI: $787 for a one-bedroom unit, $939 for a two-bedroom unit, $1,084 for a three-bedroom unit.
• Rent for families or individuals at 60% AMI: $957 for a one-bedroom unit, $1,143 for a two-bedroom unit, $1,319 for a three-bedroom unit.
The remaining 120 apartment units are comprised of 31 one-bedroom and 89 two-bedroom apartment homes and rent-capped to 100% of AMI. With this in mind, these units will launch in the early spring of 2020.
Summit County provided a $300,000 loan to help fund the project. The collaboration with Vail Resorts on the new workforce housing development is an investment to provide a place for people to live, work and play. The new workforce housing development creates a spectrum of housing, generating all types of affordable options for local individuals whether it is a studio or a three-bedroom unit for families.