Gorman and Co. hosts community meeting about Phase 2 of Wintergreen affordable housing project in Keystone
The project is going to bring 47 more units at 60% area median income or lower
Gorman and Co. is chugging along with the second phase of its Wintergreen affordable housing project, Wintergreen Ridge. The first phase created Village at Wintergreen apartments, which was originally completed just a couple years ago.
To make the second phase of the project feasible, Gorman & Co. earned about $1.5 million in state and federal tax credits, plus it received just over $700,000 in subsidies from the government of Summit County. The company received this funding in November and now, Kimball Crangle, the Colorado market president for Gorman, said the company plans to begin the entitlement phase this month.
As the company prepares to move forward, it hosted a couple of community meetings — one in February and one this past week — to get feedback from various stakeholders. Crangle said these meetings were targeted to the Keystone Owners Association as well as other nearby homeowner associations.
Though these meetings are not required, it gave the public the opportunity to ask questions about the project. Crangle said most questions have been about site plans, about the unit mix and about some of the development’s design elements.
“We haven’t heard much feedback because it’s a pretty amazing area median income that we’re able to target,” Crangle said.
While the square footage of the units still needs to be determined, the breakdown of unit types has been finalized. All of the units will be housed in one building at the back of the existing development, and Crangle said they will closely resemble the units already built.
Of the 47 units, there will be 12 one-bedrooms, 29 two-bedrooms and five three-bedrooms. The remaining unit will be a two-bedroom space reserved for Gorman and Co. employees.
Of the one-bedroom units, one of those will be priced at 30% area median income, meaning this unit would be set aside for one individual making $20,190 per year or two people making $23,070. Another one of these units will be priced at 50% area median income. According to the latest data from the Summit Combined Housing Authority, the rent for this unit would likely be priced at $901.25. The rest of the 10 one-bedroom units would be priced at 60% area, meaning rent would likely be about $1,081.50.
Of the two-bedroom units, two of them would be priced at 30% area median income, meaning it would be set aside for two individuals making up to $23,070 or three individuals who make up to $25,950. Three of the units would be priced at 50% area median income, and rent would be about $1,081.25. The rest of the 24 units would be priced at 60% area median income with a monthly rental rate of roughly $1,297.50.
Of the three-bedroom units, one would be priced at 50% area median income, and rent would likely be $1,249.38. The four other units would be priced at 60% area median income, and rent for these units would be roughly $1,499.25.
“Compared to what’s on the market (these rents) are quite affordable,” Crangle said during the meeting on Thursday. “ … We’re really excited to be able to add more of these types of deed-restricted housing to the Wintergreen community.”
Currently, Crangle said 40 of the nearly 200 units at Wintergreen now make up the kind of area median income housing being proposed in Wintergreen Ridge. Of those units, Crangle said they are “very full with very long waiting lists.”
In addition to offering a mix of rents, Crangle noted that these units will have access to other amenities already housed on the Wintergreen site, such as the dog park, various community gathering spaces, access to nearby U.S. Forest Service trails, access to the Summit Stage bus stop nearby as well as access to the Keystone shuttle that runs through the property.
Summit County Housing Director Jason Deitz said that there will be more opportunities for the public to engage and provide feedback through the public entitlement process, though there are currently no community meetings planned, yet, for later this year. Once completed, this project is going to offer additional units to the community that Dietz said are nearly impossible to bring online.
“It is all 60% (area median income) or lower rental units, and the 60% and even above are really difficult to develop, but this is using low-income housing tax credits in addition to county and other subsidies to make it work,” Dietz said.
Crangle said that weather permitting, construction of the project will begin in the first quarter of 2023 and will likely take about 22 months to complete, putting Wintergreen Ridge’s completion date at the end of 2024 or early 2025.
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