In 2019, VHF purchased 3 lots in the Town of Crested Butte at a reduced price with the promise of honoring Paul Redden’s memory by securing workforce housing on the property. Construction to prepare and place three new manufactured single family homes took place in the summer and fall of 2022, and three new rentals are now occupied by local workers.  These homes have permanent deed restrictions in place, so will remain workforce housing in perpetuity.

Lazy K is a 4+ acre neighborhood that includes homes, trails, ponds, parks, and a playground. VHF participated in the project’s early planning stages with the City of Gunnison and contributed $338,000 to this public-private partnership. This grant allowed the City to leverage an additional $1.2 million grant from CO Dept. of Local Affairs. Multiple affordable homes have already been built and sold to local workers, and a total of 44 income-restricted cabins and duplexes, 3, 4, and 5-plexes will be built, along with 21 free market homes.

The Valley Housing Fund purchased 3.5 acres of land in 2022 on the west side of Hwy 135, just north of Gunnison’s City Limits. This is part of VHF’s land banking program to reserve sites for future affordable housing. This parcel is located within a corridor that is undergoing master planning efforts with the City and County of Gunnison in 2022-2023. The master plan will assist VHF in development plans for the Wilson parcel, as VHF intends to maximize the opportunity with a mix of 24-36 townhomes and apartments.

VHF supported the Town of CB in the early stages of the Paradise Park project by participating in the developer selection process and granting funds to hire a third party consultant for the project. VHF also granted the Gunnison Watershed School District $30,000 to help purchase a duplex to rent to school employees. In total, Paradise Park has 30 deed restricted ownership duplexes, triplexes, and single family homes, with an opportunity to add an additional 18 more homes over the next several years.

GardenWalk is a 9% Low-Income Housing Tax Credit (LIHTC) project that was completed in 2021. VHF contributed a $50,000 low-interest loan to the developer to help acquire a larger loan from the Colorado Housing and Finance Authority (CHFA) to ensure completion. This apartment building includes 36 one- and two-bedroom apartment rentals with an on-site community building, fitness center, library, and gathering space. The homes are income restricted to 30-60% AMI and below.

Located in downtown Crested Butte, Anthracite Place is a Low Income Housing Tax Credit (LIHTC) apartment complex, which means that federal funds assisted with construction costs. VHF was a major contributor to this project, granting $335,000 toward the initial $1 million land purchase and loaning an additional $400,000 for construction costs. This building includes 24 one-bedroom and 6 two-bedroom apartment rentals and is income restricted to 60% AMI and below. It is designed to be energy efficient per Enterprise Green standards.

This neighborhood features affordable single family homes built through Habitat for Humanity of the Gunnison Valley. HFHGV is dedicated to reducing both the carbon footprint of construction and the financial burden of high utility bills while using natural, local, and sustainable materials and high environmental standards in construction. VHF granted $200,000 and loaned an additional $100,000 for the construction of five new homes by Habitat for Humanity. VHF also contributed to a photovoltaic system to provide electricity for both homes and construction!