Vail seeks people interested in new homes
Vail, CO Colorado
VAIL, Colorado -The town of Vail will offer two new deed restricted employee housing units for sale to qualified local employees. Purchase price of each half of the duplex will be between $375,000 and $400,000.
The town is now seeking a statement of interest and pre-qualification from prospective purchasers. Interested applicants should submit a “statement of Interest” form, found at http://www.vailgov.com, and a pre-qualification letter from a local lender on or before Aug. 21. This will allow the town to keep in touch with interested parties and allow the town of Vail to ensure a level of demand for the Arosa Drive Duplex.
A housing lottery process will take place in October in which applicants will be placed into tiers based upon the number of years they have worked and lived in Eagle County. Applicants for the housing lottery must meet the following basic eligibility requirements to qualify:
• The residence must be used as an owner-occupied primary home.
• Individuals must be employed at an Eagle County business and must work a minimum of 30 hours each week over the course of a year and continue working that same amount until the sale of the property or retirement.
• Individuals must agree to a re-sale cap of 3 percent annual appreciation.
Construction of the duplex will begin in September with an anticipated move-in date of May 1, 2010. The duplex will be LEED-certifiable to ensure the sustainability of the design, construction and long-term operation. Each half of the duplex, located at 2657 Arosa Drive, has just over 1,600 square feet of living space plus an attached two-car garage on a half-acre lot. The units each have two levels with three bedrooms and two-and-one-half bathrooms, plus a mud room off of the garage.
Floor plans and the statement of interest can be found at http://www.vailgov.com or at the Community Development Department, located at 75 S. Frontage Road between 8 a.m. and 5 p.m. Monday-Friday.
For more information, call Housing Coordinator Nina Timm at 479-2144.
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