The Village at Wintergreen is a community of 196 rental units on more than 28 acres in Keystone, offering a variety of housing types to a range of income levels. Gorman & Co., Vail Resorts, Summit County and the Summit Combined Housing Authority broke ground on the project in August 2018.
Wintergreen offers a mix of rental unit types and affordability levels, allowing a local worker to progress through their career and life, moving from one unit type to another within the same community. Gorman is developer; Vail Resorts made the land available. Wintergreen Apartments are being leased by Corum Real Estate. For info about leasing, email email@example.com.
Long-Term Rental Units
Rents on 120 of the units are capped to an average rental rate of 100 percent Area Median Income (AMI). These long-term rental units include 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
The Wintergreen LIHTC Apartments are 40 units of the project designated for local workers earning 30-60 percent AMI. Summit County provided Gorman & Co. 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).
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."
Seasonal Rental Units
A 36-unit component of the project addresses the need for seasonal employee housing needs at Keystone Resort, which also helps keep the long-term rental units available for locals.