Paul Redden Workforce Housing Project | Block 5, Town of Crested Butte

In 2020, the Valley Housing Fund purchased three lots on Butte Avenue in the Town of Crested Butte. These were purchased from the estate of Paul Redden for the purpose of updating the lots with three new, affordable, single family homes for the local workforce. VHF is currently in the approval and permitting process to place two 3-bedroom and one 2-bedroom manufactured homes on the property.

The immediate community need is for long term rental housing, so VHF intends to rent these three homes to families and members of the local workforce who earn their income within Gunnison County and meet income eligibility requirements. In the future, some or all units may be sold with deed restrictions in place to income-qualified workers. The deed restrictions will preserve the homes as affordable housing in perpetuity, and the proceeds from the sale will enable VHF to invest in additional affordable housing projects.

The anticipated timeline for the project is to prepare the site this summer, install infrastructure, and place the homes in late fall 2022. Although it is a small project, it will contribute to the Town’s goal of increasing affordable housing within the existing grid of the Town of Crested Butte.

Wilson Property | Gunnison County, North of Gunnison City Limits

The Valley Housing Fund is in the process of purchasing 3.5 acres of land from Colorado State University on the west side of Hwy 135, just north of the City of Gunnison’s city limits. VHF is currently under final contract to buy this property and has a closing date set in July 2022.

Once the purchase is complete, an application to annex the land into the City of Gunnison will be submitted, which allows residential zoning to be identified. VHF intends to place workforce housing on this parcel, and expects the annexation process to take 1-2 years. 

By planning into the future through land banking, VHF is able to complete one project and move onto the next.