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Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS Kenington Townhomes was recently annexed into the Town of Breckenridge. The developer executed a Water Service Agreement with the Town to access the Town’s water. In return, the units are subject to a no short-term rental restriction. Neighborhood Summary: # of Units: 36 Density: 15.3 UPA Type: Townhomes Occupancy: Owner or Renter Neighborhood Amenities: Proximity to Rec Path, Trails, & Public Transit Covenant Summary: Rent: No Short Term Rental Allowed KENINGTON TOWNHOMES

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More Affordable Workforce Housing is an issue in many communities throughout Colorado and is especially critical in resort communities. The Town of Breckenridge is taking a proactive approach to meet the needs of local employees, and is addressing the issue through a variety of tools and strategies. Providing affordable housing options for the local employees is vital in sustaining our community. The goal of the Breckenridge Workforce Housing Program is to insure that affordable housing is integrated throughout the community to provide a variety of housing options for the local workforce. To read more on the efforts and strategies, click here. ​ In 1988 the first dedicated workforce units were established in Breckenridge as a result of the Town’s newly adopted development code. The code is a combination of traditional zoning and performance zoning and incentivizes development that benefits the community such as deed restricted workforce housing. The early deed restrictions associated with these units were not very sophisticated and generally only prohibited the use of the properties for short-term rentals. As time went on the deed restrictions became more sophisticated incorporated elements such as the requirement of full-time work in Summit County and Income testing which are mechanisms designed to preserve the affordability of the homes over the long term and assure that they are being utilized by our local workforce. Over time, the Town has assessed the housing needs of the local community. The following reports outline the past and present housing needs while identifying best practices and strategies for providing more affordable housing options for the local workforce. BLOCK 11 HOUSING PLAN In late 2007, the Town Council endorsed a plan for local workforce housing on property commonly known as Valley Brook and Block 11. The plan allows up to 400 units to be developed on the Town owned property over the course of the next ten to twelve years. The housing will be developed in phases, the first of which will be located on the property commonly known as Valley Brook, just south of the Upper Blue Elementary School. In addition to housing, this project also created trail and transit connections along with pocket parks and recreational spaces through out. In the fall of 2016 the Town Council broke ground on Denison Placer portion of Block 11 which directly to the South of Colorado Mountain College's Campus to kick off two new projects: Denison Project I which will be for sale town houses and Denison Project II which will consist of studio and one bedroom rental units. To learn more about the vision plan for Block 11 click on the links below. Valley Brook / Block 11 Vision Plan ​ MCCAIN MASTER PLAN The next affordable housing neighborhood is located on a 4 acre parcel on the McCain property. The Town has hired a developer and the current plan is for 80 rental units with rents at or below 60% AMI. The McCain master plan identifies where housing is to be located along with other uses. This master plan was amended in 2018. McCain Master Plan ​ 2008 AFFORDABLE HOUSING ACTION PLAN This plan was endorsed by the Town Council in 2008 as an update to the 2000 Affordable Housing Strategy. The Plan establishes specific goals, actions, and targets. The primary goal of the plan is to insure that 900 additional workforce housing units (in addition to the 778 units already existing and/or authorized) are approved and/or constructed by the time the community reaches full build out. It is estimated that there will be over 10,000 jobs in the Town by build out and a target of 1678 housing units will insure that 47% of the employees working in Town could live in Town. 2008 Affordable Housing Action Plan ​ Town of Breckenridge Vision Plan This Town of Breckenridge Vision Plan was created in 2002 and focuses on preserving and enhancing its heritage as a small town, while putting diversity and individual freedom of expression on the forefront. To read more about this plan, click on the links below. Full Vision Plan Vision Plan Poster 2000 AFFORDABLE HOUSING STRATEGY This policy document describes the housing needs of the community which consist of both ‘catch up’ or ‘keep up’ needs. Catch up needs are generally current housing shortages and deficiencies such as overcrowding and unaffordability. Keep up needs are generally new housing needs associated with new development. The Strategy outlines specific tools to address the different types of workforce housing needs. This Strategy also established the Towns' Affordable Housing Annexation Policy, which has been particularly effective in creating neighborhoods such as Wellington Neighborhood, Vista Point, Gibson Heights, and Vic’s Landing. 2000 Affordable Housing Strategy SUMMIT COUNTY HOUSING NEEDS ASSESSMENTS: The goal of these studies is to identify the existing workforce housing needs and to forecast future needs, both for ‘homeownership’ and ‘rental’ units. The studies takes into account the changing demographics, aging population, retirees, local wages, jobs, and market conditions to project the future demand and supply. This updated information will help guide workforce housing policies and programs at County level as well as the municipal levels. In the 2020 Summit County Needs Assessment , Breckenridge's projected housing need for 2023 is an additional 1,171 units (841 sale, 330 rental). The NEED today is likely much higher as the study was done before the pandemic which accelerated many factors (market conditions, influx of remote workers, unprecedented price escalation) and notable migration of locals leaving due to housing and financial stress. BRECKENRIDGE FIVE-YEAR BLUEPRINT Breckenridge Projects More Than $300 Million Invested in Local Workforce Housing in Next Five Years . Read full Five-Year Blueprint here . ​ 2013 FINAL REPORT 2016 FINAL REPORT 2019 FINAL REPORT 2023 FINAL REPORT ​ Background and Reports

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More Subordinations & Releases: Welcome Deed Monitoring Subordinations & Releases: Services

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More ​ Buy Downs The Town of Breckenridge is dedicated to both building new housing and preserving the existing housing in our community for locals. Pursuant to the 2008 'Workforce Housing Action Plan', the Town of Breckenridge expanded efforts to acquire existing free-market units and convert them to permanently affordable workforce housing. ​ Due to the high housing market, the average cost for a buy down has increased 154% since 2019. Buy Downs are an important strategy, particularly as over time, the market units that are currently occupied by employees are converted to other uses such as retirement or vacation homes. It is estimated that there are up to 1,000 market units in the Breckenridge area that are currently occupied by local employees. As employees retire and/or sell their market units to non-employees, the shortage of affordable workforce housing is exacerbated. Breckenridge Housing is working to develop specific criteria for Buy Down opportunities. ​ The Summit Combined Housing Authority will regularly sell Breckenridge 'Buy Down' properties through a lottery system. These properties include condos, townhomes and single-family homes dispersed throughout the Breckenridge area. Interested buyers are encouraged to follow the Summit Combined Housing Authority’s steps to purchase a home and be prepared. Sign up HERE to receive more information on potential future lotteries and when workforce housing projects become available for sale! The required qualifications for both 'Buy Downs' and 'Housing Helps' programs are that the home must be occupied by a person who works at least 30 hours per week for a business located in and serving Summit County. Both programs are excellent options for locals looking to purchase a house, current homeowners, local businesses, and anyone seeking to provide long-term rentals to locals. ​ All current 'For Sale' properties can be found here. ​ ​ ​ BuY Downs

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS Neighborhood Summary: # of Units: 74 Density: 18 UPA Type: 1-, 2-, & 3-bd Apartments Occupancy: Renter Occupied AMI Target: Must average 83.75% AMI Neighborhood Amenities: Trails, Public Transit, Garages for Rent, Playground Construction Complete: 1996 Restriction Summary: Income Limits: 50%-100% AMI Property: Cannot own other property Rent: No Short Term Rental Allowed. Master Lease: Not Allowed PINEWOOD VILLAGE 1 The land that Pinewood 1 was developed on is under a land lease between the Town and the developer who utilized LIHTC and currently manages the project. After 50 years, the land will be returned to the Town. This project received approximately $350,000 in PIF and planning fee waivers. When units become available, applicants from the wait-list who meet the income criteria are selected. The property is currently operated by Corum Real Estate Group.

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More 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. ​

Home Programs & Accomplishments Pipeline Projects Resources & Reports Neighborhoods Forms NEWS Search Results More LOCAL NEIGHBORHOODS VALLEY BROOK Town of Breckenridge served as the developer. The land was land banked by the Town for housing. This project was funded by Division of Housing grants and the Town of Breckenridge. The total project cost was $11.4 million with approximately $281,959 waived in PIFs and planning fees. Neighborhood Summary: # of Units: 41 Deed Restricted Density: 5.9 UPA Type: 2bd and 3bd Townhomes Occupancy: Owner Occupied Initial Pricing: $165,000-$328,000 AMI Target: 80%-120% AMI Neighborhood Amenities: Park, Rec Path, Public Transit, Solar Panels Construction Complete: 2011 Covenant Summary: Employment: 30+ hours per week in Summit County Income Limits: 80% - 120% AMI Property: Not allowed to own other property Appreciation Limit: 3% per year or the change in AMI from year of purchase to sale date, whichever is less Commission: 2% of sale price Capital Improvements: 10% of initial purchase price Retirement: Full retirement at age 65 Rent: No Short Term Rental Allowed. Owners can rent rooms to qualified tenants ​ *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. ​