The 36 new units will be included in three different housing projects that will provide affordable housing options for local employees.
This is part of a concentrated effort to address the county-wide housing crunch that Summit County has been dealing with.
According to Summit County estimates, the Ten-mile Basin needs to add 249 units by 2020 – just to catch up with demand, and an additional 310 units if the area hopes to keep-up with growth.
The most immediate project to go underway will be the 24-unit workforce-housing project slotted for the last undeveloped pad of land at the Basecamp complex (which houses Whole Foods and more than half-a-dozen other businesses and restaurants) in Frisco.
Seventy-five percent of the units will be reserved for people working at least 30 hour per week year-round in Frisco and the surrounding Ten-mile Basin. The remaining 25 percent will be open to workers countywide.
It is undecided how the units will be allotted. It will be by way of a bidding or lottery process which will be decided by May of 2017. They will also decide on the prices of units and what will be offered in terms of price-point by then as well.
The development is still in the planning phases but the concept of the development can be described as several structures with retail space for small businesses on the first floor and micro-condominiums on the second.
They hope to break-ground by June 2017.
Town council also approved changes to zoning restrictions to allow for the conversion of office space above the Wendy’s on Summit Boulevard into four units reserved for the restaurant and gas station’s employees.
Town Owned Projects
Town council has also made progress on a town-owned workforce-housing development on Galena Street. This project will add eight new affordable units.
Half of the units will be reserved for town employees, and the remaining four will be set aside for workers at local businesses.
Town council is also looking further down the road and into a potential agreement with the Colorado Department of Transportation to build affordable housing on land the agency owns on the corner of Granite Street and Seventh Avenue in Frisco.
This could possibly add 23 units, some of which would be reserved for CDOT employees. The agency is currently exploring it as a project, and Frisco would be “first in line” for any potential partnership.