Eagle County seems poised to gain 16 more affordable housing units in cooperation with the St. Clare of Assissi parish here in Edwards.? The parish plans to sell 16 deed restricted condominiums to local residents.? (part of the deed restriction will be a requirement to?reside and work in Eagle County)
The county is close to approving the plan, which will likely be finalized early next year.? The 2 bed/2 bath condos are expected to sell for approximately $250,000.? Located on Highway 6 just west of Edwards, these units will help to keep working folks in the upvalley area.
Stay tuned for more affordable housing information?with the West End project in Edwards also moving forward.? 72 deed restricted units are anticipated in this exciting new development in the heart of Edwards.
The West End project is getting closer to county approval after a 4-2 vote in favor of the plans by the Eagle County Planning Commission.? The County Commissioners are scheduled to review this project on August 14.?? A key component keeping this development moving forward is its commitment to affordable housing. (about 72 of the 185 residences will be sold as?affordable housing)
Having seen preliminary elevations and renderings, this attractive development fits well with the Edwards' core.? Edwards has already become a hub for social and business activity for year round residents and vacationers.? The West End project ties in 80,000 square feet of commercial space with necessary affordable and free-market housing.
It still needs county approval.? If you believe in this development, come show your support?for the West End on August 14, 2007?in Eagle.
Affordable housing in the Vail Valley has been a topic of discussion since the valley became?the?VAIL Valley.? And lately, there has been a shift in focus as to what is affordable and whom the county should help acquire housing.
Under former guidelines, those that earned about 80% of the area median income were the primary focus.? New guidelines are now focussing on those that earn 110% of the area median income.? Basically, the county is asking for "more expensive homes" to be built fo those that want to buy homes here, but can't.
Think professional families that earn about $79K?a year.? Great for many parts of the country, but very difficult to afford a home here in Eagle County.
Our beautiful valley is facing a serious crunch for locals' housing.? The next few years will prove crucial to make up for the current lack, as prices seem to have finally gotten too high for many working families.
Call or email me to discuss the Vail Valley housing market in more detail.