LOCAL NEIGHBORHOODS

Gibson Heights was developed privately as a part of an annexation agreement with the Town.  The site was vacant dredge rock in unincorporated Summit County.  Approximately $200,200 in PIFs and Planning Fees were waived.

Neighborhood Summary:

 # of Units: 40 restricted

Density: 6.5 UPA

Type: Townhouse and Single Family

Occupancy: Owner Occupied 
Initial Pricing: $150,000-$207,000
AMI Target: 80% AMI
Neighborhood Amenities: Rec Path, Trails, Public Transit
Construction Complete: 2004

Covenant Summary:

Employment: 30+ hours per week in Summit County
Income Limits: None
Property: Cannot own other property
Appreciation Limit: 3% per year or the change in AMI from year of purchase to sale date, whichever is less
Commission: 3% of sale price
Capital Improvements: 15%  of initial purchase price
Retirement: Partial retirement at age 55, Full retirement at age 65
Rent: Yes, but must be Owner Occupied

GIBSON 
HEIGHTS

*Please note that the Town of Breckenridge conducted a deed restriction change option for owners in the Gibson Heights, Maggie Placer, Valley Brook, and Vic's Landing Neighborhoods. The goal of this deed restriction change option was to amend issues in some older housing covenants and the create more equity among deed restricted neighborhoods.  If a property in one of these neighborhoods has changed to the amended and restated version of the housing covenant, the please refer to the Blue 52 Covenant Summary for the property's covenant term summary.  If you are in one of these neighborhoods and have not changed your deed restriction and would like more information, please contact tobhousing@townofbreckenridge.com.