New Lease-Based Multi-Unit Housing Development Is First Of Its Kind In Steamboat Springs

In Spring 2021, Eagle Mountain Builders will break ground on Core Trail Apartments, a 97-unit housing development on the west side of Steamboat Springs. The lease-based multi-unit model is the first of its kind in Steamboat, not to be partnered with the Yampa Valley Housing Authority. The project, which was unanimously approved by Routt County commissioners earlier this year, has completed the demolition phase with construction pushed to next year due to financial impacts driven by COVID-19.

Core Trail Apartmenets Fill Gap For Both Locals and Visitors

Interest from prospective tenants reached a point where the developers had to take down their website. ”I could have sold all the rooms by now,” said Kris Rainsberger, owner of Eagle Mountain Builders.  “If we were open, I believe we’d be full already.” Rainsberger, a five-year Routt County resident, saw a huge gap in the rental market, both for locals and out of town guests. “Everything you can buy is out of reach for a lot of people who want to be here,” he said. There will be no income restrictions in the rental agreements, but 65 % of the apartments will be subsidized for Routt County residents and members of the local workforce. The remainder is available for out of town rentals.

Rainsberger indicated that building work will be completed within a year. Eagle Mountain Builders will use modular construction, which is assembled on site by their local workforce.