By Shannon Lukens.

 

Wednesday was the groundbreaking ceremony for the MidValley Housing Project. It’s in Steamboat Springs, across Hwy 40 from Walmart, behind the UCHealth Urgent Care building. 

 

Leah Wood, president of the Board for the Yampa Valley Housing Authority, says the project is possible because of the partnerships in the Steamboat Springs community.

“With our benefactor who donated our land, and the support from City Council, the support from our community representatives, the grant funding that came through from DOLA, This project needed all of these partners to come together in order to deliver the affordable housing that our community so desperately needs.”

 

Mid Valley will have four buildings with a total 234 total units, with 84 of those as condominiums for sale. It’s for households that earn 80-140% of the Area Median Income. The units will be priced below current market races in Steamboat Springs, geared for first-time home buyers. All units will be deed-restricted and will target members of the local Routt County workforce or retired from local employment.

There will be neighborhood parks and open space, with trails connecting to the Yampa River Core Trail.

 

In addition to Wood, speakers included Yampa Valley Housing Authority Executive Director Jason Peasley. YVHA acquired the property in fall of 2021 thanks to an anonymous donation. YVHA was also awarded a $4 million grant from the Colorado Department of Local Affairs.

 

Ken Marsh is the development Partner with Lone Tree Trust LLC, who introduced others involved with the building and construction.

 

Dakota McGinley is a member of Steamboat Springs City Council who spoke of the importance of affordable housing in the community.

 

Colorado Senator Dylan Roberts and Representative Meghan Lukens also attended the groundbreaking, in support of the project.

The condominiums will be for sale in the summer and fall of 2025, with rentals available in 2026.

More details from Yampa Valley Housing Authority.

WHERE: Lincoln Ave, near Mid Valley Drive, near the UCHealth Urgent Care Center and Young Tracks Pre-School

 

DETAILS:

• YVHA is partnering with Lone Tree Trust, LLC as the developer for this project.
• The project will be a dense, efficient use of infill land near transit and services.
• Mid Valley will have 234 total units, 84 of which will be condominiums for sale. There will be covered, ground floor parking. The project will include two neighborhood parks, open space, and trails connecting to the Yampa River Core Trail.
• This project is considered attainable and households earning 80%-140% of Area Median Income are eligible. 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 income.
• This “missing middle” category has been the hardest hit by the drastic appreciation in rental rates and sale prices in Routt County, and this housing product is the most difficult to finance.
• The project will increase new for-sale housing stock, for which there is significant demand among the local workforce.
• The units will be priced well below current market rates in Steamboat Springs and geared toward first-time home buyers.