The Town identified this site for affordable housing and entered into a Development and Charitable Contribution Agreement in June of 2008 with Mercy Housing Colorado, Inc. to design, construct, and sell affordable units that will be available for local employees and their families.A 42 unit townhome development consisting of eleven buildings was designed for the site and on August 11, 2009, the Town Council approved the plan. Mercy Housing worked with a short list of possible general contractors to determine the final project cost, which was submitted to the Town Council on March 9, 2010. Mercy Housing also requested the Town share in market risk and carry costs associated with slower than expected sales.After careful consideration, the Town Council determined that current market conditions necessitated a different approach to the development of this affordable housing project. The Council opted to terminate the contract with Mercy Housing and move forward with the development based on sales activity. Infrastructure work began in April, 2010, and it is likely that the vertical construction will begin later in the summer of 2010. The scale of the project and the number of buildings in the first phase will be driven by sales activity. Please contact the Summit Combined Housing Authority for information on pricing and qualifications for purchase.For a project summary, click here. You can also review the frequently asked questions about the project.For a historical summary of projected development expenses, click here.For information on other affordable workforce housing, click here to be redirected to Departments & Services, Community Development, Affordable Workforce Housing.If you have additional questions, contact Laurie Best, (970) 547-3112.
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