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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
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*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.
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