McCain Housing Project developer plans net-zero workforce housing community in Breckenridge
BRECKENRIDGE — At the Breckenridge Town Council work session Nov. 26, Breckenridge Housing Planner Nichole Rex and Gorman & Co. representative Kimball Crangle presented plans for the McCain Housing Project, a workforce housing development. The proposed project would take up four acres of the 128-acre reclaimed McCain property, which is between Coyne Valley Road and the Fairview Boulevard roundabout in Breckenridge.
The town selected Gorman & Co. as the developer for the project in August. The developer’s proposal includes 80 one-, two- and three-bedroom reduced-rent apartments based on income level. If the project is approved, Gorman & Co. would apply for grants that would help the town rent the units at rates lower than market value.
Rent prices will be based on the area median income, or AMI. The Department of Housing and Urban Development calculates the area median income for a family of four in Summit County as $89,100. For a single person, that number is $62,400 on average.
Tenants will be given rent prices based on their income, which ranges from 30% to 60% of the average income in the county. Of the 80 proposed apartments, four will be rented to tenants who make 30% of AMI, 17 will be rented at 50% AMI and 57 will be rented at 60% AMI, though 16 of those will not have income testing requirements. There also will be two employee units on-site.
The developer’s goal is to reach net-zero emissions for the project, so the town is considering not running a natural gas pipeline to the development. Town Council members supported transportation options that would discourage car use, and Crangle said the development would use a passive solar site layout. Crangle also said the developer is working to add chargers for electric cars and e-bikes.
Crangle and Rex will bring a resolution to Town Council on Tuesday, Dec. 10, asking for approval of the development management agreement with Gorman & Co. so the company can move forward with the grant application process.
1 bedroom, 1 bathroom units
30% AMI: $438
50% AMI: $772
60% AMI: $939
2 bedroom, 1 bathroom units
30% AMI: $520
50% AMI: $921
60% AMI: $1,122
3 bedroom, 2 bathroom units
50% AMI: $1,064
60% AMI: $1,296
Support Local Journalism
Support Local Journalism
As a Summit Daily News reader, you make our work possible.
Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.
Your donation will be used exclusively to support quality, local journalism.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User
Editor’s note: This story has been updated include additional information about Tralee Capital’s proposed project.