Routt County Housing Crisis One Step Closer to Solution

Earlier this week, the affordable housing crisis in Routt County came a step closer to a long-term solution. The Yampa Valley Housing Authority purchased 536 acres of land west of downtown Steamboat, thanks to a donation of $24M by an anonymous benefactor.

The land, which was owned by Steamboat 700 LLC, lies within the designated urban growth area, identified by the West Steamboat Springs Area Plan. Now that YVHA owns the land they will work with state and local officials to determine how to best develop the property. Governor Jared Polis was in Steamboat for the closing and suggested the state would be able to invest some of the $600-700M in pandemic relief dollars it received from the federal government towards housing affordability.

Speaking of the project, Polis said “When you look at the magnitude of a project like this, will it meet every need forever? Not necessarily.  But will it meet the needs of where Steamboat is and would like to be in the near future?  It really will.”

Acreage Has Been At The Forefront Of Community-Wide Controvery For More Than A Decade

The site was originally purchased in 2007 by Steamboat 700 for $25M. Over the course of more than a decade, it has been at the forefront of community-wide controversy. In 2010, voters rejected the annexation of the property into city limits. Plans included 2,000 new homes, commercial space, a school, and 200 acres of open space.

A decade later the site was back in the public spotlight when developers Brynn Grey Partners created a master plan with the city on 191 acres. Locals voted to approve the annexation but Brynn Grey failed to purchase the property within the timeframe issued by the city.

Steamboat Springs School District Gears Up To Open New Sleeping Giant K-8 School

This month the Steamboat Springs School District will open Sleeping Giant School for K-8 grades, which is centrally located within three residential neighborhoods that border the Steamboat 700 parcel. The school forms part of the overall masterplan to build Steamboat West. YVHA will now have to solve complicated issues including water rights, traffic impacts, lack of financing for public transit, increased city spending, deed restrictions, and whether new properties will adequately address the shortage of affordable housing.

Yampa Valley Housing Authority Has Unique Position To Develop The Land

Unlike past developers, who have tried and failed to transform the sizeable parcel, the YVHA is not-for-profit, and is in a unique position to focus solely on the needs of the growing community.  With the added benefit of a generous donor providing the funds to purchase the land and the likelihood of the state contributing money for construction costs, YVHA will have significant financial flexibility for how the develop the land.