Gypsum: Affordable homes on sale Wednesday
Vail, CO Colorado
GYPSUM, Colorado ” Sales begin today for Stratton Flats, Gypsum’s newest workforce housing development.
The development has both free-market residences and deed-restricted, reduced-price housing. The neighborhood will have 339 total homes, including 152 single family homes, 118 town homes, and 69 condominiums. The neighborhood will also feature two community parks, parking and an Eagle County bus stop on-site.
The project is a partnership between Eagle County, the town of Gypsum and Meritage Development Group.
Sales begin today by appointment, and the sales center will be open daily for walk-in visits beginning July 17. The sales center will handle on-site applications for deed-restricted housing, and lenders will be available on-site for guidance and pre-qualification.
Participate in The Longevity Project
The Longevity Project is an annual campaign to help educate readers about what it takes to live a long, fulfilling life in our valley. This year Kevin shares his story of hope and celebration of life with his presentation Cracked, Not Broken as we explore the critical and relevant topic of mental health.
“We encourage first-time buyers to contact us about special loan programs and down-payment assistance,” said Meritage developer Scott Russell. “We understand the market climate and frustrations with traditional mortgage lending, and we’re doing what we can to help ensure that achievable financing will be available.”
Prices for deed-restricted residences begin at $171,000 for condominiums, $300,500 for town homes, and $343,000 for single-family homes. Free-market residences start at $344,000 for townhomes and $394,000 for single-family homes. Pricing and selection is available on a first-come, first-served basis.
County Commissioner Peter Runyon called the development “a petri dish” of homeowner options ” one-third of the neighborhood will have two types of deed-restrictions through Gypsum, one third will have a deed restriction through Eagle County, and the rest will be sold as free-market, unrestricted homes.
“Stratton Flats is absolutely a fabulous opportunity to address the affordable housing issue in Eagle County. I don’t know of anywhere in the country where you can choose from three different pricing structures to meet a buyer’s specific needs,” Runyon said.