Workforce Housing Being Developed in Colorado Resort Town

The second phase of the Alta Verde neighborhood will include 172 units for residents earning between 80% and 120% of the area median income.

By Donna Kimura

*Under construction by Gorman & Co., the Alta Verde development will bring affordable and missing-middle housing options to the resort town of Breckenridge, Colorado.*

Courtesy Gorman & Co.

A 172-unit development is being built to help meet the housing needs of workers in Breckenridge, Colorado.

The new community will serve residents earning between 80% and 120% of the area median income (AMI), with studio, one-, two-, and three-bedroom apartment homes.

“Alta Verde Workforce is the product of the vision of the town of Breckenridge,” says Kimball Crangle, Colorado market president for developer Gorman & Co. “The town has long been committed to delivering housing for local workers.”

Located about 9,600 feet above sea level, Breckenridge offers skiing in the winter and a range of other outdoor activities the rest of the year, making it a popular destination for visitors. However, finding housing can be tough for locals.

Constrained by land and high construction costs, Colorado’s resort towns face a significant shortage of housing for their workforce. A recent needs assessment found that Summit County, where Breckenridge is located, needs about 2,900 rental housing units up to 80% of the AMI. By 2023, the gap is projected to grow to 3,400 units.