Village at Wintergreen
In August, 2018, Gorman and Company, Vail Resorts, Summit County and the Summit Combined Housing Authority broke ground on the Village at Wintergreen, a community of 196 rental units on more than 28 acres, offering a variety of housing types to a range of income levels. The project is located at 21771 U.S. Highway 6 in Keystone. Wintergreen offers a new approach to housing in Summit County. By providing a mix of rental unit types and affordability levels, a local worker may progress in their career and life and move from one product type to another within the same community. Gorman is the developer who orchestrated creative housing partnerships, including Vail Resorts, who made the land available.
Long Term Rental Units
Of the units, rents on 120 units will cap to an average rental rate set at the 100 percent Area Median Income (AMI) level. Made up of one and two bedroom apartments, the homes will be available only to those working at least 30 hours per week on an annual basis in Summit County.
Affordable Housing Rental Units
Summit County provided Gorman and Company with a $300,000 loan in support of the Wintergreen Apartments, and the Summit Combined Housing Authority partnered with the developer to enable a property tax exemption for this portion of the project. These two partnerships were instrumental in Gorman and Company’s successful application for 9 percent Low Income Housing Tax Credits (LIHTC) from the Colorado Housing and Finance Authority (CHFA). The Wintergreen LIHTC Apartments will offer 40 units of the project designated for local workers eraning 30-60 percent AMI. In a spring 2016 analysis of the Summit County market, just 1 percent of rental listings were priced for household earning 60 percent AMI or less. "Getting a rental housing development to pencil out financially in Summit County is no easy task, especially at these AMI levels," County Commissioner Dan Gibbs said. "We're really grateful that Gorman wanted to take this on, and we're proud to partner with them to help bring the project to fruition. We also want to thank all the people at CHFA who worked so hard to help make this happen. They embraced the vision for Wintergreen and supported this effort to do something quite special – this site is the future home of an affordable neighborhood with a real sense of place for our local workers."
Seasonal Rental Units
A 36-unit component of the project addresses the need for seasonal employee housing needs at the resort, which also helps keep the long-term rental units available for locals.