Breckenridge’s housing development targeted at people who economically are considered the “missing middle” is rolling out another lottery for 22 units that include duplexes, triplexes, and single-family homes. 

The development, the Stables Village, is being built on a parcel that was previously the Breckenridge Equestrian Center that is adjacent to the Lincoln Park neighborhood and near the Wellington Bike Park.

Fifteen units of the 61 units in the development were claimed in the first round of the lottery. In the upcoming lottery, eight duplexes, two single-family homes and 12 triplexes are up for grabs. Breckenridge housing and childcare manager Laurie Best said a move-in date for these units could be in early 2025. 

The lottery to secure a spot will open March 15 and close March 28 with a drawing happening April 4. There will be an open house March 20 from 5-7 p.m. with a presentation at 5:30 p.m. at the South Branch Library in Breckenridge.

The triplexes range from around $381,000 to $551,000. The duplexes range from around $556,000 to $709,000, and the single-family homes cost around $800,400.

“This isn’t necessarily for first-time homebuyers,” Best said. “This is ideally targeting folks that have been here a while … meeting their needs so they can stay in the community.” 

In its entirety, the development includes five single-family homes, 38 duplexes, and 18 triplexes. Best said alongside affordability, sustainability is also a major objective of this development, and its units will be all-electric, solar-powered, and carbon-neutral.

Addressing the gap in housing supply for the middle class has long been a discussion in Summit County, and last February county officials held an open forum to hash through the issue. Summit County Commissioner Tamara Pogue said with the median price of a single-family home in the area moving above $2 million, efforts such as these are paramount to addressing the middle-income housing gap.

She said the group that encapsulates the middle class — frontline workers, teachers and law enforcement to name a few — are essential to keep in the community.

“We want those folks to stay here. We want them to take on leadership positions at the organizations that they work for,” Pogue said. “But unfortunately, those folks are being squeezed out by the fact that our market-rate housing is now prohibitively expensive.”

As this development is aimed at the workforce, applicants for the lottery must work in Summit County for at least 30 hours a week on an annual basis.

Similar to the last lottery, two different groups get priority, or the ability to throw your name in the hat more than once, in this upcoming lottery. Those who work in the Upper Blue and those who have lived in the community over 10 years get an extra ticket. People that meet both qualifications in addition to being an employee in Summit County have the opportunity to have three tickets in the lottery.

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The previous lottery for this development — which also included duplexes, triplexes and single-family homes in a similar price range — saw somewhere in the ballpark of 200 applicants for 15 spots. Staff anticipates this lottery could look the same.  

The triplex units are capped at 140% of the area median income in this development. Those interested need to fill out both an employment and an income application when applying for the lottery. An applicant cannot own any other property in Summit County in order to be eligible. 

The duplex and single-family units do not have an area median income cap, and only an employment application is needed. There is a max 3% annual appreciation cap on these units. Unlike the triplex units, people that own duplexes and single-family homes may own other property.

Two more lottery rounds for the development will occur for the 24 remaining units for those who did not find luck in the first two rounds.

More information about the development and the lottery can be found at SelectGroupRes.com/StablesVillage/