BRECKENRIDGE — A questionable economy hasn't dampened the demand for attainable housing in Breckenridge.

“It appears to be stronger, mostly because this is what people can afford, and lending is still pretty favorable toward the lower end,” said Jennifer Kermode, executive director of the Summit Combined Housing Authority.

She said nearly 40 potential homeowners have been pre-approved for units in the Valley Brook development near Upper Blue Elementary, between Airport Road and the Blue River. The 42-unit development is moving through the town's approval process, and Kermode said it's expected all units will be reserved by Oct. 1.

Breckenridge Town Council last week gave preliminary approval to an agreement that would develop the Maggie Placer site on the south end of town into 21 units, with 17 affordable but for a higher income level than those of Valley Brook.

The Valley Brook development is to accommodate families with incomes ranging from 80 percent to 120 percent of the area's median income (from $47,680 to $102,120, depending on number of occupants), while the Maggie Placer development ranges from 115 percent to 140 percent AMI.

For a table illustrating area median incomes, visit www.summithousing.us.

The town is providing land and some financial support for the Valley Brook development, while Maggie Placer and others are private endeavors.

The town's housing fund was cut by $250,000 to $2.05 million this year, though the change is not to affect any housing programs.

More than a resort town

The town's support of housing local workers is intended to maintain community character.

“The lights don't go out at night when everything shuts down,” town planner Laurie Best said.

Town Councilman Dave Rossi lives in the Wellington Neighborhood — the town's largest affordable-housing development.

“I never feel it's shoulder season when I'm in my neighborhood,” he said. “People can be teachers, firefighters, doctors, town staff and county staff. It's a real neighborhood.”

With the large amount of second homeowners and seasonal workers using Breckenridge residences, there's less community atmosphere in other neighborhoods.

Rossi said he's concerned not enough of the developments under way accommodate folks in the 80 percent or less AMI categories.

“People have families and they don't have access to housing, and we need more rentals,” he said.

He said he would prefer for Valley Brook to have more available for these people.

Kermode said the housing authority's highest demand — in Breckenridge as well as the rest of the county — is at the 80 percent AMI level.

Potential for creating more locals

Best said the Entrada annexation near

7-Eleven — which town council recently approved to include about an acre-and-a-half of town-owned land — could be useful for rentals.

“Rental is a very important part of our long-term strategy,” she said.

Like many pieces of land the town acquires, this one hasn't yet been designated for a specific type of development.

Town land near and including the Valley Brook development has the potential to accommodate up to 450 housing units, Best said.

The Valley Brook development is expected to cost more than $12 million; the town has planned to help subsidize about $2.5 million. About $1 million in government grants are going toward the project as well.

The project's developer is Mercy Housing, which has been negotiating with the general contractor on a price for individual units. Best said an estimate is to be presented to town council by the end of September. The Valley Brook units could be ready for occupancy by mid-2010.

The Maggie Placer development will be on the west side of Highway 9, south of Boreas Pass Road and near the Ski and Racquet Club Condominiums.

The attainable homes are to include four two-bedroom units and 13 three-bedroom units, and are to be priced between $295,000 and $325,000, according to a press release.

“The architecture incorporates traditional and regional mountain forms with contemporary elements. Gabled and shed roofs with exposed beams are the main focus,” according to the press release.

The units are to be individually identifiable and have sustainable and solar attributes. Preservation Development Group, the developer, has three other affordable-housing projects pending with the town to provide 110 affordable units, according to the press release.

PDG spokeswoman Lindsey Shorthouse said the Maggie Placer should “have some holes dug” by the end of 2009. For more information about these developments, call Shorthouse at (970) 453-1222.

The town aims for 1,643 attainable units at build-out, and about 743 units existed or had been approved when the goal for 900 more was set last year.

Rossi said a concern to consider regarding the future is how much population the town can hold.

“There are, I think, some folks who have some differing opinions (regarding) at what cost to build housing. How many people can we stand in this valley — whether second-home owners, visitors or locals?” he said.

For more information on attainable housing, visit www.summithousing.us.

Robert Allen can be contacted at (970) 668-4628 or rallen@summitdaily.com.