Aspen allocates $1 million to housing coalition

Aspen City Council on Tuesday unanimously approved a $1 million contribution to the West Mountain Regional Housing Coalition’s Good Deeds program in an effort to strengthen the city’s efforts to preserve workforce housing throughout the Roaring Fork Valley.

The contribution will come from the city’s 150 Housing Development Fund and will be used to support voluntary deed restrictions that ensure homes remain permanently occupied by full-time, locally employed residents.

Through the Good Deeds program, eligible homebuyers can receive financial assistance worth up to 30% of a home’s purchase price in exchange for a permanent deed restriction. These restrictions prohibit short-term rentals and second-home ownership, effectively converting free-market properties into stable, price-capped housing that supports the local workforce.

City staff presented the program as a more immediate and cost-efficient solution than new construction. In 2024, $2 million in public funds helped the coalition convert eight free-market homes into permanently affordable housing, securing long-term ownership for twelve local workers employed between Aspen and Glenwood Springs.

Pitkin County provided the largest share at $1 million, followed by Aspen at $450,000 Snowmass Village at $250,000, Glenwood Springs at $200,000, and Carbondale at $100,000.

The coalition now aims to bring 30 homes under deed restriction by 2026. As of this week, three homes are under contract, with two additional offers pending.

While the homes are not required to be located within Aspen’s city limits, they must be purchased by members of the regional workforce, many of whom commute into Aspen daily. The program represents a broader collaborative effort among municipalities from Aspen to Parachute to tackle the region’s housing crisis.

Still, the allocation drew some concern from council member Sam Rose, who questioned the long-term impact on other housing priorities funded by the 150 Fund.

“I would like to give as much as we can, but I am concerned about the other things that we have using this fund,” Rose said. “I am concerned about buying down deed restrictions and taking out debt issuance on the Lumberyard.”

City Manager Pete Strecker assured the council that there were sufficient reserves to fund existing commitments. Rose ultimately supported the $1 million allocation, but noted that future contributions should be reassessed annually.

“I do want to say again that this is very much year to year, depending on the finances and how the program works, but I am happy to do $1 million,” Rose said.

Mayor Rachel Richards initially suggested a $600,000 contribution, citing concern that none of the homes secured through the Good Deeds program to date had been located in Aspen or Pitkin County.

“Being at this end of the valley, West Mountain Regional Housing Coalition’s Good Deeds program has not been able to complete any of these purchases or buydowns for Aspen,” Richards said. “There is a legitimate argument about you doing a good job helping build community in another community. You are not building it in your own community, from where your taxpayers are.”

After discussion, Richards joined the rest of council in approving the full $1 million allocation.

Meanwhile, Aspen continues to leverage the 150 Housing Development Fund to support a broad range of affordable housing strategies. In addition to the Lumberyard development and the Habitat modular home factory, the city is investing in moving assistance programs and incentivized rightsizing to help optimize the use of existing housing stock.

The fund also supports preservation of mobile home parks in Aspen, Basalt, and Mountain Valley Park, along with APCHA’s Essential Repairs Program and potential land acquisitions. Other tools outlined in the city’s Affordable Housing Strategic Plan — such as the Deed Restriction Purchase Program — are also under active consideration.

Staff emphasized that new construction in Aspen can exceed $1 million per affordable housing unit, making the Good Deeds program a comparatively efficient and scalable solution for increasing and preserving workforce housing.