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44 items found for ""

  • Huron Landing

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS Huron Landing was developed in partnership with Summit County and the Town of Breckenridge. The County provided the land that was being used as a storage yard and the Town financed the project through Certificate of Participation (COP) financing. The total cost of the project was $8.5 million with approximately $210,000 PIFs and planning fees waived. Neighborhood Summary: # of Units: 26 Density: 17 UPA Type: 2bd Apartments Occupancy: Renter Occupied Initial Pricing: $1,550-$1,700 (90% AMI) Neighborhood Amenities: Proximity to trail and rec path, on-site gear storage, on-site public transit Construction Complete: 2017 Restriction Summary: Employment: 30+ hours per week in Summit County Income Limits: 180% AMI HURON LANDING

  • Moose Landing

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS Neighborhood Summary: # of Units: 16 rent restricted, 16 no short-term rental Density: 24 UPA Type: 1-bd & 2-bd Apartments Initial Rent: 85% AMI Occupancy: Renter Occupied Neighborhood Amenities: Proximity to Rec Path, Public Transit Restriction Summary: Occupancy: 16 units require 30+ hours per week of employment in Summit County. Rent: 16 units at 85% AMI rental rates. No Short Term Rental Allowed. Master Lease: Allowed. This project is was developed by the private sector. A development agreement was crafted with the developer and the Town where the Town contributed land and waived fees in return for deed restricted units. This project received approximately $150,000 in PIF and planning fee waivers. The owner will control the management of the property and select the tenants are as long as they meet the employment requirements in one of the rent restricted units. MOOSE LANDING

  • Breckenridge Local Neighborhoods - Blue52

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS BLUE 52 The most recent development constructed by the Town of Breckenridge Housing Authority, Blue 52 is a land banked project that cost approximately $16.4 million. Land was also contributed and not included in the cost. Approximately $460,000 PIF and planning fees were waived. Neighborhood Summary: # of Units: 52 Density: 9.2 UPA Type: 1-, 2-, and 3-bd Townhomes Occupancy: Owner Occupied Initial Pricing: $203,000-$515,000 AMI Target: 80%-120% AMI Neighborhood Amenities: Rec Path, Proximity to Parks,Trails, Public Transit Construction Complete: 2018 Covenant Summary: Employment: 30+ hours per week in Summit County Income Limits: 110% - no limit Assets: cannot exceed $225,000. Exempt assets include primary residence equity, retirement accounts, health savings and college savings accounts. Property: Not allowed to own other property in Summit County Appreciation Limit: 2% fixed per year Commission: 0.5%-1% of sale price Capital Improvements: 10% of initial purchase price Retirement: Partial retirement at age 60 - Full retirement at age 65 Rent: No Short Term Rental Allowed. Owners can rent rooms to qualified tenants

  • Subordinations & Releases

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More If you would like to request a subordination or release from the Town of Breckenridge or Town of Breckenridge Housing Authority, please fill out the form below. Subordinations & Releases: Welcome subordinationS & releases Subordinations & Releases: Services

  • Pinewood Village 2

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS Pinewood 2 was developed on land that was part of a land trade with the National Forest Service. The project was constructed by an LLLP that the Breckenridge Housing Authority participated in. The project received 4% LIHTC and cost $9.7 million. Approximately $335,000 in PIFs and Planning Fees were waived. When units become available, applicants from the waitlist who meet the income criteria are selected. The property is currently operated by a Corum Real Estate Group. Neighborhood Summary: # of Units: 45 Density: 15 UPA Type: Studio & 1bd Apartments Occupancy: Renter Occupied AMI Target: 60% AMI Neighborhood Amenities: Trails, Public Transit, On-Site Gear Storage Construction Complete: 2016 Restriction Summary: Income Limits: 60% AMI Property: Cannot own other property Rent: No Short Term Rental Allowed Master Lease: Not Allowed PINEWOOD VILLAGE 2

  • Denison Commons

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS DENISON COMMONS The Town of Breckenridge developed Denison Commons on a vacant land banked site. This project is now owned by Colorado Mountain College and serves primarily as student housing. This project cost $5.8 million and was funded by the Town’s Housing Fund. This project received approximately $250,000 in PIF and planning fee waivers. Neighborhood Summary: # of Units: 30 Density: 30 UPA Type: Studio & 1-bd Apartments Initial Rent: 70%-80% AMI Occupancy: Renter Occupied Neighborhood Amenities: Proximity to Rec Path, Public Transit, On-Site Gear Storage Construction Complete: 2017 Restriction Summary: Occupancy: Available to Colorado Mountain College Students Rent: No Short Term Rental Allowed. Master Lease: Allowed

  • Solarize Summit

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More ​ If you are an owner of a deed restricted property, you may be eligible to add a portion of the value of the solar panel system to the value of your home at the time of sale. All deed restrictions are different, so it is important to know what your options are. If you are interested in the opportunity to install solar on your deed restricted home, please fill out the request for information form below and the Breckenridge Housing Division will reach out to you. ​ ​ Home copy: Welcome Home copy: Services

  • About Funding

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More Funding Breckenridge Housing Program Targets 47% of the Breckenridge workforce lives in the community A balance of 35% of resident housing and 65% vacation/lodging All programs , projects and strategies of Breckenridge Housing are funded by our community and guests through voter approved county-wide taxes (.0125% and .6%), development impact fees, grants secured by housing staff and, as of January 1, 2022, a short-term rental fee . ​ ​ Since the inception of the housing program, The Town of Breckenridge has invested significant funds in workforce housing to accomplish the targets of 47% of Breckenridge's workforce living in the community and a balance of 35% of resident housing and 65% vacation/lodging. ​ cost to provide housing (2021 data) • Projects : on average it costs $400,000 - $500,000 per new unit constructed *does not include offsite infrastructure or land costs • Programs : the average cost to acquire a deed restriction on a existing unit: Housing Helps - $130,000 per unit Buy down - $250,000 per unit (+154% from 2018) ​ Short Term Lodging Fee Effective January 1, 2022 the Regulatory Fee Fund (funded by the short-term rental fee ) will be used to support the Town’s workforce housing policies and programs, address secondary impacts of short term rentals that impact the character of the local community and Town neighborhoods where accommodation units are located, and defray the costs to the Town. ​ program funding summary Since the Housing Helps program was launched in late 2019, the Town has invested $6,465,584 to acquire deed restrictions on 71 local homes. Since the Buy Down program was launched in 2019, the Town has spent approximately $6.2 to acquire 50 homes to deed restrict and resell to locals. Project Expense Summary (Dec 2021) The Town's financial contribution includes: ​ Alta Verde 1 (renamed vista verde Phase 1) $3.4 million in offsite infrastructure (storm sewer, utilities, road, sidewalk, etc.) $4 million loan to the project $960,000 loan to support Upper Blue Sanitation fees (covered with CDBG grant) $1.3 million loan for net zero (covered with DOLA grant) Alta Verde 2 (renamed vista verde phase 2) $6 million loan to the project $2 million loan for new net zero Justice Center Projected budget is approximately $17 million ​ Stables Village Neighborhood TBD

  • Breckenridge Housing Helps Program

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More ​ The Breckenridge Town Council has authorized staff to implement a Housing Helps program to help locals access affordable housing. In addition to the on-going construction of new units and the traditional buy downs, the Town launched Housing Helps, a deed restriction acquisition program. The goal is to incentivize current homeowners and real estate buyers to deed restrict their market rate property to help maintain and sustain homes for locals in the community. Under the program the Town will pay owners, buyers, and local businesses 15-30% in return for a deed restriction on homes that are currently unrestricted. The amount that will be paid for a deed restriction will vary depending on the market and the request for either the light or full deed restriction. Recipients may use the funds for down payment, home repairs, special assessments, etc. In return, the recipients are required to execute a deed restriction that will insure the property is used for local workforce housing. Home copy: Welcome Home copy: Services HOW TO APPLY To submit an application for a property to the Housing Helps Program, please click here! FAQS Program Information: click here. What is this Program? This is a deed restriction acquisition program approved by the Breckenridge Town Council to incentivize property owners, buyers and local businesses to accept a use restriction on their property. The goal is to preserve and support the community by insuring there are a variety of housing options for our local workforce. ​ Who is Eligible? Anyone who owns or i ntends to purchase a property in the Upper Blue Basin-from Farmers Corner to Hoosier Pass. This includes individuals, businesses, and investors. ​ Can I Deed Restrict a Property with a First Right of Refusal? In some cases, the Town may not be able to obtain a deed restriction on these properties, so please check with Town staff to determine if a specific property is eligible for this program. ​ Why Should I Consider Deed Restricting My Property? The Towns goal is to help locals stay in the community where they can live, work, play, and raise their families. The most recent Housing Needs Assessment indicates there is a significant shortage of housing to serve the needs of local families and employees. This impacts the ability of businesses to recruit and retain employees and provide the products and services needed. The lack of housing also impacts the character of our community when locals are unable to live in the community where they work. By deed restricting your property you are helping Breckenridge retain a variety of housing options for locals. You may use the proceeds that you received from the Town in return for the deed restriction for any purpose. ​ What is a Deed Restriction? This deed restriction is an agreement that restricts the use of your property in perpetuity. In return for the payment from the Town, the deed restriction will be recorded in the County records. Because the deed restriction will restrict how the property may be used, it is likely that the future value of the property will be impacted by the deed restriction. ​ What are the Key Terms of the Deed Restriction? The key terms of the light deed restriction (15-19%) include: The property must be occupied as a primary residence by a person employed a minimum of 30 hours (no remote work) a week in Summit County. The property may not be used as a seasonal home, vacation home, or as a short term rental. The key terms of the full deed restriction (20-30%) include: The property must be occupied as a primary residence by a person employed a minimum of 30 hours (no remote work) a week in Summit County. The property may not be used as a seasonal home, vacation home, or as a short term rental. The property will be subject to a 3% appreciation cap. ​ ​ Unlike some other deed restricted properties these units will not be subject to income caps. Retirement in these properties may be permitted subject to the Towns retirement policies for deed restricted units. Please refer to our most curren t guidelines for more information. ​ What Happens to the Deed Restriction When I Sell the Property? The deed restriction will remain with the property in perpetuity and future owners will be subject to the same restricted use. ​ Can I Use a Realtor? Yes, you are strongly encouraged to use a Realtor to assist in the acquisition or sale of any property. Please advise your Realtor if you intend to utilize Housing Helps funds in the acquisition of a property. Many local Realtors are familiar with the Housing Helps Program and can assist with the process. ​ Is There a Real Estate Transfer Tax (RETT)? All properties within the Town of Breckenridge are subject to a 1% Transfer Tax at the time of acquisition/sale. The Housing Helps Light Deed Restriction does not restrict or limit the sale price and therefore properties that have opted for the light deed restriction will not be exempt from the Transfer Tax. The Housing Helps Full Deed Restriction does have an appreciation cap which limits the future sale price and therefore properties with the full deed restriction are exempt from the Transfer Tax. ​ Can I Rent My Property or Use it as an Investment? Yes, you may rent a property that is subject to this occupancy restriction provided the occupant meets the employment requirement. ​ Are There Tax Implications Associated With the Payment I Received? You should check with your financial or legal advisor as the Town can not provide any financial or legal advice. Under this program the Town is acquiring a deed restriction from you and the Town will not issue a 1099 for the proceeds that you receive. ​ Are There Local Lenders Familiar With the Housing Helps Program? Yes, you may use a lender of your choice but please confirm they will loan subject to the Town of Breckenridge Housing Helps Deed Restriction. We have been in communication with local lenders including 1st Bank, BOK Financial, Bank of England and Alpine Bank, and they are familiar with the program. ​ How Much Money Will I Receive? Every property is different and there is no set amount that the Town will pay for a deed restriction. The value will vary depending on the size of the unit, the location of the unit, the proximity to jobs and/ or transit, how well the unit meets the housing needs within the community, and the type of deed restriction requested. The Town may compare other similar properties or may review appraisals or other information from real estate professionals to determine a reasonable and acceptable price. ​ If my Application is Accepted When Will I Receive the Payment? Once an agreement is reached, funds are generally available within 3-4 weeks. ​ QUESTIONS? If you have any questions regarding Housing Helps, please contact Darci Henning at 970.547.4303 or at DarciH@townofbreckenridge.com

  • Breckenridge Local Neighborhoods

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS Neighborhood Summary: # of Units: 15 employee requirement & no short-term rental, 20 no short-term rental only Density: 4.8 UPA Type: Single Family Occupancy: Owner Renter Neighborhood Amenities: Proximity to Rec Path & Public Transit Covenant Summary: Occupancy: 30+ hours per week in Summit County (15 units) Rent: No Short Term Rental Allowed Farmers Grove is located in unincorporated Summit County. The developer executed a Water Service Agreement with the Town to access the Town’s water. In return, all 35 units are subject to a no short-term rental restriction, with 15 subject to employment requirements. FARMERS GROVE

  • Coto Flatts

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS COTO FLATS The Town of Breckenridge Housing Authority developed COTO Flats on vacant land banked property. The Town and County are joint owners of this project to house Town and County employees. This project cost $4.2 million plus land and on-site infrastructure and was funded by the Town’s Housing Fund. This project received approximately $172,000 in PIF and planning fee waivers. Neighborhood Summary: # of Units: 18 Density: 18 UPA Type: 1-bd Apartments Initial Rent: 80% AMI Occupancy: Renter Occupied Neighborhood Amenities: Proximity to Rec Path, Public Transit, On-Site Gear Storage Construction Complete: 2018 Restriction Summary: Occupancy: Town of Breckenridge & Summit County Employees Rent: No Short Term Rental Allowed. Master Lease: Allowed

  • Retirement Approval

    Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More Home copy: Welcome Home copy: Services

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