Housing sales at Berry Creek begin today
“We’ve had exceptionally strong interest from potential buyers,” says Ed Mallet, the community sales manager.
Sales of the first 38 homes at Eagle County’s newest affordable housing development at the Berry Creek 5th project in Edwards are scheduled to begin today. Applications from interested homebuyers are being accepted for 38 of the nearly 300 homes that will be built on the site, Mallet said.
When the project is finished, there will be 282 homes on 31.5 acres.
The project is being developed by ASW Realty Partners, Eagle County and the Town of Vail.
Because of the amount of people interested in buying a home at Miller Ranch, ASW Realty Partners is anticipating a lottery for the first phase that will be completed in the fall, says Paul Witt, spokesman for ASW.
“They have about 300 names of people interested,” Witt says. “We’ll have to see how many of those qualify.”
Miller Ranch homebuyer qualifications include: agreeing to deed restrictions that cap annual appreciation; being employed full-time in Eagle County or earning 75 percent your income from Eagle County businesses; and agreeing to occupy the home as a full-time residence.
Construction of the first phase began Oct. 31. Construction crews are still putting the infrastructure at the site, but won’t be putting the foundation until March, Witt said.
“This is a wonderful opportunity for people to get in on the ground floor of this project,” Mallet says. “Buyers will have the opportunity to upgrade flooring, countertops and appliances and make these homes truly theirs.”
Four home styles are available in the first phase, including:
– One- and two-bedroom “Mill Loft-style” condominiums ranging in size from 820 square feet to 1,072 square feet. Base prices range from the low $120,000s to the mid $160,000s. Upstairs homes have high-volume ceilings and a loft with an optional bath.
– Row Houses, or two- and three-bedroom townhomes with unfinished basements and two-car garages. Sizes range from 1,158 square feet to 1,376 square feet. Base prices range from the low- to mid-$200,000s.
– Two- and three-bedroom duplexes with a one-car garage. Optional basements are available on certain homes. Sizes range from 996 square feet to 1,209 square feet. Prices range from the low $180,000s to the low $200,000s.
– Single-family homes with three and four bedrooms ranging in size from 1,351 square feet to 1,511 square feet. Prices range from the $230,000s to the $260,000s. Optional basements and detached garages are available.
The county will split net profits of the sales of the homes with ASW and the town of Vail, says Eagle County Administrator Jack Ingstad.
“The goal is to have a 12 percent profit,” he says. “But that will have to do at how much the units sell in the market. It’s hard to guess and that’s why we decided to chose a developer who could get the loans and take the appropriate risks.”
If sales go well, Ingstad says, estimated profits for the county and the developers will be in excess of $1 million each.
“Our goal is to keep the prices of the homes affordable,” he said.
For more information and applications, visit http://www.millerranchhomes.com or contact Ed Mallett at (970) 926-8578 or by mail at P.O. Box 1869, Edwards, 81632.
Veronica Whitney can be reached at 949-0555, ext. 454, or at firstname.lastname@example.org.