Eagle and Habitat for Humanity receive $1.1M grant for 3rd Street affordable housing project
Colorado’s Affordable Housing Development Incentives Grant Program has awarded the town of Eagle a $1.1 million grant to assist with Habitat for Humanity Vail Valley’s 16-unit 3rd Street housing project.
Based on the project’s overall competitiveness and alignment with the grant timeline, the town of Eagle and Habitat for Humanity Vail Valley staff collaborated on the application submittal. After a thorough review, the committee recognized the organizations’ joint commitment to affordable housing and awarded the grant to support the development of 16 deed-restricted units for families at or below 100% of the area median income.
The 3rd Street project will provide much-needed affordable housing. The grant will fund various aspects of the project, including infrastructure expenses and impact fees.
“We are thrilled to receive this grant and grateful to the IHOI committee for recognizing the importance of affordable housing in our community,” said Eagle Mayor Scott Turnipseed in a town release. “This award will help us move forward with the 3rd Street Housing Project and provide affordable housing options for our community.”
Notably, 12 of the units will provide housing to educators and other school district staff within the 80-100% AMI range. The other four units will target the 35-80% AMI range. Habitat for Humanity Vail Valley received land use entitlements this past fall which will allow construction to commence in the spring. The town anticipates the project to be move-in ready in 2024.
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“We want to extend our congratulations to all the partners collaborating on this project: Habitat for Humanity Vail Valley, Eagle County School District, and the town of Eagle. We look forward to seeing the positive impact of this vital project,” Turnipseed said.
If you have any questions or would like to speak with a representative from the town of Eagle or Habitat for Humanity Vail Valley, please do not hesitate to reach out.
Please contact Peyton Heitzman, town planner, at Peyton.Heitzman@townofeagle.org or at 970-328-9619.