Yes, there is such as a thing as affordable housing Vail

One of the most expensive places to live in Colorado has a big new affordable housing project underway.

VAIL - On the west side of Vail, George Ruther, with Vail Community Development has moved from blueprints in the office to seeing actual work being hammered out at the Chamonix affordable housing neighborhood in Vail.

"A lot of work has happened," Ruther said.

It's one of Vail's largest affordable housing projects ever, aimed at keeping more people who work in Vail living in Vail.

"Ensure that we have quality employees working in our restaurants and on the mountain and in the retail shops and fire fighters and teachers," Ruther said.

By building 32 townhomes that people living in the Vail area had to enter a lottery for the chance to buy with each one of the affordable homes selling for between $399,000 and $739,000.

"When you talk affordability especially in a mountain resort town affordability is relative," Ruther said.

Those prices are high but in Vail they're also a bargain where the average price of a home is $1.5 million.

"The average price for a free market home in the town of Vail is somewhere around $1.5, 1.6 million," said Ruther.

Which might be why all the homes are already sold.

Now thanks to some swift building techniques with the second a third floors of the townhomes built off site, the homes will soon be placed on foundation in Vail.

George says families who need housing now will be moving in by December.

© 2017 KUSA-TV


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