Estimated reading time: 4 minutes
Key Takeaways
- Breckenridge has broken ground on its last major affordable housing project, the Runway Neighborhood, with a $34.6 million investment for an initial 81-unit phase.
- The development includes innovative accessory dwelling units (ADUs), which are small, rentable units often built above garages, aiming to increase rental options for workers.
- About one-third of the first-phase homes are planned to be ADU-ready, with infrastructure in place for future rental or ownership expansion.
- The project targets households with a median income (AMI) of 100%, with prices between $351,000 and $742,000, balancing affordability and community needs.
- Potential second phase could add another 67 units, further addressing the housing shortage but raising concerns about maintaining affordability.
Table of Contents
The Big Picture: Why Runway Neighborhood Matters
Accessory Dwelling Units: Innovation with Debate
What’s Next for the Town and Its Residents
The Big Picture: Why Runway Neighborhood Matters
Breckenridge has recently taken a significant step in addressing workforce housing challenges by breaking ground on its Runway Neighborhood, which is the town’s last major affordable housing project. This development features innovative housing solutions specifically tailored for local workers, reflecting a strategic effort to support community stability.
The project involves a $34.6 million investment into a planned first phase comprising 81 units. Although a second phase has been postponed due to economic uncertainty, the initial phase aims to provide a diverse range of housing options including single-family homes, condos, townhomes, and notably, accessory dwelling units (ADUs). These small, rentable units are often attached to or built above garages, offering increased rental supply for workers and additional income for homeowners.
Officials describe this neighborhood as a genuinely affordable community, aiming at households with an average median income (AMI) of 100%. Pricing is capped between $351,000 and $742,000, part of a focused effort to keep housing accessible for the local workforce while supporting homeownership initiatives.
Accessory Dwelling Units: Innovation with Debate
ADUs are at the center of discussions among town officials. Approximately one-third of the single-family homes in the first phase will be ADU-ready, meaning that infrastructure and structural “shells” will be in place for future build-outs. This allows future owners to easily construct rental units if they choose.
These units could significantly boost rental supply and provide homeowners with supplemental income. However, town staff express concerns about potential affordability challenges if ADUs become too costly or if homeowners feel pressured to become landlords. To address this, grant opportunities are being explored to incentivize ADU development and ease this transition.
What’s Next for the Town and Its Residents
While the full scope of the Runway Neighborhood remains flexible, the project marks a pivotal milestone for Breckenridge. It demonstrates a coordinated effort to combat housing shortages amid rising costs impacting local workers. If the second phase proceeds, it would add approximately 67 units, further expanding affordable options but also raising concerns about maintaining long-term affordability and community balance.
Residents and officials remain cautiously optimistic, balancing growth aspirations with careful attention to affordability and community needs. The development aims to meet key local housing challenges without unintended consequences.
Why You Should Care
For residents and local policymakers everywhere facing housing shortages, the Runway Neighborhood project offers a compelling model of creativity and balance. It highlights the ongoing challenges of growing communities, economic realities, and the importance of affordable housing in desirable mountain towns.
As housing needs continue to evolve, observing how Breckenridge manages ADUs, subsidies, and phased development will be crucial for understanding the resilience and livability of future communities.
FAQ
What is the Runway Neighborhood project?
Breckenridge’s Runway Neighborhood is the town’s last significant affordable housing development, with an initial investment of $34.6 million for an 81-unit plan, including innovative housing options like ADUs.
Why are accessory dwelling units important?
ADUs enhance rental options for workers, provide homeowners with potential income, and help increase the overall housing supply. However, concerns about affordability and managing growth are also part of the discussion.
What is the future of the Runway Neighborhood?
The first phase is underway with a possible second phase adding 67 units. Ongoing discussions aim to balance community needs, affordability, and sustainable growth.
How does the project support the local workforce?
By providing a range of affordable housing options, including ADUs, the Runway Neighborhood helps retain local workers and supports affordable homeownership options in Breckenridge.