Vail InDeed<\/a> program, will serve as a mechanism for the town to preserve its existing inventory of workforce housing units. Once launched, the town will offer cash incentives for individuals willing to place deed restrictions on their units in the Upper Blue Basin to assure that they\u2019re used as workforce housing in perpetuity.<\/p>\nOf note, the restrictions would be relaxed compared to other housing covenants throughout the county, requiring only that residents are employed at least 30 hours a week in Summit County. There would be no restrictions on things like income, appreciation or rent.<\/p>\n
The program can be used by existing homeowners in the Upper Blue Basin without a current deed restriction on their home, individuals looking for help with a down payment on a property, local businesses trying to secure housing for their employees and even investors.<\/p>\n
The amount program participants would be paid would vary from owner to owner, depending on the market rate of the unit, its location, size, access to transit and more. Best noted that the town wouldn\u2019t set any caps on value, and said the town expects an average payout of about $50,000 to participants, based on data from Vail\u2019s program.<\/p>\n
\u201cIt\u2019s a win-win,\u201d Best said. \u201cWe\u2019re preserving a unit in perpetuity for a local as opposed to seeing it turned into a short-term rental. And it\u2019s a lot less expensive to preserve an existing unit than it is to build a new unit. It costs us about $250,000 to build a new unit, not even counting the land. \u2026 If we can preserve some of that housing stock that\u2019s out there now that\u2019s at risk of becoming unavailable, it\u2019s a very efficient use of our funds.\u201d<\/p>\n
While Breckenridge has been working on other means of securing workforce housing, including buy-down programs and purchasing property, Best said it isn\u2019t enough. The town has added more than 250 units since 2016 to increase the number of deed restricted housing units in the Upper Blue Basin to about 1,000. Though Best said she thinks there\u2019s an immediate need for about 300 more rental units and 200 more ownership units.<\/p>\n
\u201cI think the town of Breckenridge has been pretty proactive in terms of dealing with the issue of affordable housing and making sure there are options for people that live in the community,\u201d Best said. \u201cTo date, we\u2019ve been focused on building new units. A lot of construction is going on around housing. But recently, we\u2019ve been trying to figure out some other strategies.<\/p>\n
\u201cWe can\u2019t build our way out of this \u2026 so there\u2019s got to be some options for preserving some of the existing inventory that is out there where the locals used to live.\u201d<\/p>\n
While town officials have approved the program, Best said there are still several details to work out, such as establishing an application process. The town is planning on setting up educational forums and open houses later this month to begin outreach to potential participants and members of the real estate community.<\/p>\n
The town is anticipating beginning the program by the end of the month, offering another option in the town\u2019s toolbox to address workforce housing concerns.<\/p>\n
\u201cI think the town has shown that we\u2019re willing to take this issue head on and try to develop multiple strategies,\u201d Best said. \u201cThere\u2019s not a single silver bullet. It\u2019s more of a variety of strategies to help us make an incremental difference in the ability of our locals to stay in town and for our businesses to find employees to serve our visitors and guests.\u201d<\/p>\n
via:: Summit Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"BRECKENRIDGE \u2014 The town of Breckenridge is moving forward with a new effort to help address the shortage of workforce housing in town. The Breckenridge Town Council unanimously passed a resolution at its most recent meeting last month to establish the new Breckenridge Housing Helps Program, a move meant to assist locals in obtaining and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99],"tags":[],"class_list":{"0":"post-798265","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-local-news"},"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-06-18 19:18:33","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSMT The Mountain","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/ksmt","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/798265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/comments?post=798265"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/798265\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/media?parent=798265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/categories?post=798265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/tags?post=798265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}