Land rush for affordable lots in Aspen

The last official land rush in the U.S. took place in Oklahoma in 1893, but the tradition lives, albeit in a more organized fashion, in some western communities.

175 people recently submitted applications to be one of seven lot owners in Aspen-Pitkin County Housing Authority's upcoming lottery. Five resident-occupied lots are priced at $150,000 and two are are priced at $119,400. Lot buyers can begin construction in July. Houses may be up to 2,200 square feet, plus a 500-square-foot garage. Construction costs for each of the five resident-occupied lots cannot exceed $640,000, and costs for the Category 6 lots are capped at $428,100.

The 2003 median sales price for home in aspen in 2003 was $3.18 million.

Read the full article in the Aspen Times


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