Aspen announces start of construction for Lumberyard affordable housing project

Construction has started on the Lumberyard affordable housing development in line with the city of Aspen’s mission to address the local affordable workforce housing shortage.

The project is located on an 11-acre site near the Airport Business Center along Highway 82, delivering 277 deed-restricted rental apartments throughout two phases.

“The Lumberyard will help to address a portion of the ongoing affordable housing crisis in the Aspen area,” Robert Schober, the city’s capital asset director, said in a press release. “We’re very excited that construction is underway because this will allow us to move on to do more work toward further alleviating the crisis.”

City Council approved the project in March, with developer Gorman & Company initiating Phase A this month, according to the release. Gorman & Company was chosen as the Lumberyard development partner in July 2025.

“They have been active in Colorado since 2014, delivering more than 2,400 units across the state with another 500 currently under construction,” the release reads.

Phase A includes the development of 104 units and “significant improvements in public infrastructure” with regard to utilities, roadways and enhanced pedestrian and bicycle connections, public plazas and transit-supportive amenities. The work is anticipated to be completed in 2028.

“Starting construction at the Lumberyard site is a direct result of stakeholder vision and community input in Aspen,” Kimball Crangle, Colorado Market president for Gorman & Company, said in the release. “This new housing community will reflect a thoughtful approach to meeting local housing needs for the long term.”

Aspen City Council will consider approval of Phase B — including the remaining 173 units — in May 2027, with the full development aimed to be completed in 2029.

As it stands, the Lumberyard project is the city’s largest affordable housing development. The development will serve households earning incomes between 50% and 240% of Area Median Income.

“All residences will be permanently deed-restricted under the Aspen/Pitkin County Housing Authority, ensuring long-term affordability for the community,” the release states.

To learn more about the Lumberyard affordable housing project, visit: aspencommunityvoice.com/lumberyard.