Cottonwoods at Mid Valley receives $10M in STR Funding

October 31, 2025 Shannon Lukens

By Shannon Lukens. File Photo courtesy YVHA.

Yampa Valley Housing Authority has received $10 million in Short-Term Rental funding, to reduce the prices at The Cottonwoods at Mid Valley. The funding will be used to reduce pricing for units.

Pricing by unit size and AMI ranges is:

One-bedroom/One-bath: $266,000 to $380,000
Two-bedroom/Two-bath: $307,000 to $444,000
Three-bedroom/Two-bath: $318,000 to $464,000

Those interested in purchasing need to complete The Cottonwoods Homeownership Pre-Screening Form to determine eligibility for the deed restriction.

Press Release from Yampa Valley Housing Authority; Oct. 31, 2025.

FOR IMMEDIATE RELEASE
Yampa Valley Housing Authority Receives $10 Million In STR Funding To Reduce Prices At The Cottonwoods At Mid Valley

STEAMBOAT SPRINGS, CO, October 31, 2025 — The Yampa Valley Housing Authority (YVHA) is pleased to announce that it has received a total of $10 million in short-term rental (STR) tax funding from the City of Steamboat Springs. The funding will serve exclusively to reduce sales prices for units at The Cottonwoods at Mid Valley. The Steamboat Springs City Council unanimously approved the funding at the October 14 meeting. The second reading passed unanimously at the October 21 meeting.

The funding delivers great value to buyers with discounts to market up to 56%. Pricing by unit size and AMI ranges as follows:

One-bedroom/One-bath: $266,000 to $380,000
Two-bedroom/Two-bath: $307,000 to $444,000
Three-bedroom/Two-bath: $318,000 to $464,000

Note that pricing may be subject to minor adjustments and will be finalized prior to the unit lottery. Sales prices can be reviewed at yvha.org/cottonwoods.
YVHA and its development partner, Steamboat 6732 Partners, worked to ensure that STR funds will reduce sales prices dollar-for-dollar resulting in an average per unit discount of $116,000.

The first step in the purchase process is to complete The Cottonwoods Homeownership Pre-Screening Form to determine eligibility for the deed restriction. Applications are currently being released on a rolling basis to those who have already completed the pre-screening form and were deemed eligible to purchase a unit. Prospective buyers are asked to complete the application as soon as possible upon receipt. The first lottery for unit selection is slated to run in December.

Prospective buyers are encouraged to keep a watch on their junk and/or spam folders in the event they are not receiving communications from YVHA. Note that eligibility for the deed restriction does not constitute financial approval. Prospective buyers should meet with a lender if they have not already done so.

“The cost to build is high for all development projects – public and private. Public financial support is critical to deliver affordable housing. The City of Steamboat Springs has shown great leadership in investing STR funds to support affordable homeownership. YVHA would like to thank the City and Council for this generous funding which allows us to provide the first for-purchase affordable housing opportunity in Steamboat in almost twenty years. We are excited to help more renters become homeowners at The Cottonwoods at Mid Valley,” said Jason Peasley, Executive Director, YVHA.

“This is an amazing opportunity for anyone who works in this community and is part of the fabric that holds us together to put down roots, build equity, and make home ownership a reality,” said Gail Garey, President, Steamboat Springs City Council.

“This partnership started in 2017, with the voter approved one mill property tax that has generated many rental properties. With the voter approved STR tax in 2023, we can follow through with helping the YVHA provide our community members the opportunity to purchase a property in Steamboat Springs. This is what collaboration and partnership looks like. Thank you, citizens of Steamboat Springs. Your votes made this happen,” said Michael Buccino, Councilor, City of Steamboat Springs.

“The Cottonwoods at Mid Valley is unlike anything we’ve seen before in Steamboat. It represents a pivotal step toward ensuring that the people who make Steamboat thrive, can also call it home,” said Michelle Parilla, Licensed Agent at The Agency, YVHA’s transaction manager for The Cottonwoods at Mid Valley.

About the Yampa Valley Housing Authority

The multi-jurisdictional Yampa Valley Housing Authority advocates for and provides safe, affordable housing and support to low- and moderate-income residents employed in Routt County. YVHA has developed 315 homes and secured, protected, and improved an additional 150 homes. YVHA leverages local tax funds, external subsidies including grants and tax credits, and philanthropic donations to deliver affordable housing for the community. The YVHA service area includes the city limits of Steamboat Springs and the boundaries of the Steamboat Springs Rural Fire Protection District. YVHA believes the strength, culture, and diversity of our community is enhanced when everyone has a decent place to call home.
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