The lack of affordable housing in mountain communities has some local governments taking a more active role in the development process – add another to the list:
The Town of Mountain Village, near Telluride, is in the process of purchasing four lots in Mountain Village’s Timberview subdivision and just added property in Ilium Valley. The property in Ilium Valley is already zoned for development and can shoulder 13 affordable housing units.
“We’re not land-banking it waiting for some sort of strategy to emerge,” Mayor Davis Fansler said, alluding to the Village’s failed attempt to purchase some 100-plus acres in the San Miguel River Canyon earlier this winter. “we’re trying to chip away at the issue.”
The village will pay $65,000 per unit, or $845,000 in total for the land, which is expected to close in late July.
The funds for both purchases will come from the Mountain Village Housing Authority, though the Mountain Village Homeowner’s Association $500,000 as a donation toward affordable housing.
The Timberview property in the Village will cost the town $510,000.