{"id":807697,"date":"2020-05-21T17:16:26","date_gmt":"2020-05-21T23:16:26","guid":{"rendered":"https:\/\/www.summitdaily.com\/?p=383703"},"modified":"2020-05-21T17:16:26","modified_gmt":"2020-05-21T23:16:26","slug":"breckenridge-workforce-housing-project-awarded-13-million-in-funding","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/ksmt\/local-news\/breckenridge-workforce-housing-project-awarded-13-million-in-funding\/","title":{"rendered":"Breckenridge workforce housing project awarded $13 million in funding"},"content":{"rendered":"
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The 128-acre Alta Verde property in Breckenridge is under development, as pictured Tuesday, May 19.<\/strong>
Liz Copan \/ ecopan@summitdaily.com<\/em><\/figcaption><\/div>\n<\/figure>\n

BRECKENRIDGE \u2014 Breckenridge is well on its way to having a new workforce housing community thanks to Low Income Housing Tax Credit funding.<\/p>\n

Developers have chosen Alta Verde as the name for a new workforce housing project, which will be built on the 128-acre McCain property between Coyne Valley Road and the Fairview Boulevard<\/a> roundabout in Breckenridge.<\/p>\n

The project, which will be developed by Gorman & Co. in partnership with the town of Breckenridge, was awarded 9% Low Income Housing Tax Credit funding or $13 million to be used over the course of 10 years.<\/p>\n

The developers expect to break ground on Alta Verde in spring 2021. It will offer 80 workforce housing units, ranging from one to three bedrooms. The apartments will be offered to people whose income falls within 30% to 60% of the median income for the area. For a family of four in Summit County, area median income is $95,900<\/a>, according to the U.S. Department of Housing and Urban Development. Rent costs will range from $433 to $1,280, depending on the number of rooms and the renters\u2019 income.<\/p>\n

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