Workforce Housing inPagosa Springs
Collaborating with local government and community partners to bring workforce housing to our community.
Pagosa Springs CDC Workforce Housing Project
In February 2023, the Board of Directors added workforce housing to the PSCDC Strategic Plan. Since that time the PSCDC has worked collaboratively with Archuleta County leadership, Habitat for Humanity of Archuleta County, local banks, community stakeholders, and other organizations to develop a comprehensive workforce housing plan with the following goals:
- To ensure our community's workforce is successful in attaining long-term, safe, and energy-efficient housing
- To provide housing opportunities and homeownership opportunities to our community's workforce
- To work with our local Town of Pagosa Springs and Archuleta County leadership in creating compatible housing within their jurisdictions
- To establish capacity for future projects to be replicated in additional phases
- To establish housing protocols and assist with bringing in external funding to reduce the affordability gap for homeowners
Archuleta County donated 35 vacant lots to PSCDC in 2023. These lots are all located in the Chris Mountain II and Trails subdivisions within the Pagosa Lakes Property Owners Association (PLPOA) in Pagosa Springs. The primary objective of the Pagosa Springs CDC Workforce Housing Project is to build 10 new single-family housing units in the Chris Mountain II subdivision. These 10 units represent the inaugural step in PSCDC’s broader endeavor to create workforce housing within our community.
Affordability is paramount to the success of this community project, and PSCDC will provide multiple economic incentives to help reduce costs. This is not a low-income housing project; it is targeted toward the “missing middle” home buyers who earn between 80% to 120% Average Median Income (AMI). PSCDC’s goal is to pass only vertical construction costs to home buyers and utilize gap funding and down payment assistance to help manage costs and affordability.
Contractor Selection: BWD Construction
After a thorough and extensive RFP process, PSCDC has selected BWD Construction as the builder for the first 10 homes of the housing project. The single family two-bedroom, two-bath homes will be built in the Chris Mountain II and Trails Subdivisions in Pagosa Lakes and be available for purchase to buyers in the 80% to 100% AMI.
Rory Burnett, BWD CEO states, “We have been attempting to get into building workforce housing for the last six years to serve middle income housing. We’re proud to be the local contractor to take these first 10 homes across the finish line.” Completed homes are expected to be available for purchase by December 2024.
PSCDC welcomes BWD as our building partner for this unique private-public project that will serve as a model for rural areas in Colorado into the future. PSCDC plans for these 10 homes, which are included in the first phase of a four-phase project, is to provide home ownership for law enforcement, local schools, the fire and hospital districts, and additional key labor sectors in Pagosa Springs and Archuleta County. The properties will have deed restrictions to preserve affordability into the future, while allowing for modest value increases for homeowners.
Workforce Housing Eligibility Pre-Application & Housing Opportunity Process
PSCDC is proud to announce we are accepting Homebuyer Eligibility Pre-Applications for our workforce housing project. This project would not be possible without our valued partners: Bank of the San Juans, BWD Construction, Archuleta County, PAWSD, LPEA, PLPOA, Town of Pagosa, Habitat for Humanity of Archuleta County, RG Bank, 1st Southwest Bank, HomesFund, Bank of Colorado, and TBK Bank.
Buyers who are interested in purchasing one of the first 20 homes that will be available in 2024 and 2025 are invited to complete the Eligibility Pre-Application Form using the following link.
PSCDC is undergoing this project to meet the housing needs of our community’s local workforce with attainable price points for buyers. These price points are achieved through various subsidies, including land costs, development fee costs, architectural and engineering costs, down payment assistance, and direct cash grants.
In exchange for these direct subsidies, the workforce housing units are deed restricted. The three primary deed restrictions on each home include requirements for the home to be a primary residence for a local worker, income restrictions at the initial purchase date, and a modest appreciation cap of 3% a year to maintain the long-term affordability of the unit.
To learn more about the application and housing opportunity processes, use the following link to view an informational flyer.