Wheels in motion for new worker-housing projects in Aspen | AspenTimes.com

Wheels in motion for new worker-housing projects in Aspen

Pitkin County Assessor's Office

Three public-private partnerships involving the development of rental housing for Aspen employees will gain traction beginning next year with a series of outreach efforts.

The Aspen government has linked arms with Aspen Housing Partners to develop rental complexes at the city-owned properties at 488 Castle Creek Road, 517 Park Circle and 802 W. Main St. All three properties are designated moderate-density residential and would be subject to zoning changes to allow for construction.

The city would lease the land to Aspen Housing Partners, which has agreed to build a mix of Categories 1 through 4 under the housing authority's guidelines. A preliminary proposal calls for 11 one-bedroom and two two-bedroom units at West Main Street; four one-bedroom, five two-bedroom and two three-bedroom units at Park Circle; and 15 one-bedroom and nine two-bedroom units at Castle Creek. All told, the three developments would add 50 units to the city's pool of employee rental housing.

At a meeting last week with members of the Aspen City Council, Jason Bradshaw of Aspen Housing Partners said the plan is to hold a series of community gatherings in both January and March (see box on page A10). The development group would bring its findings from the meetings back to council at the end of March.

"I think at these community meetings will hopefully be members of the community that own property around these sites and potential users of businesses that need employee housing for their employees," he said. "We're trying to cast as wide a net as we can."

Aspen Housing Partners will be responsible for the projects' design, construction and operations of the rent-controlled housing.

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The projects' design schemes have not been finalized, and Bradshaw said those elements are "open for discussion."

Financing the projects would, in part, come through either 4 percent or 9 percent federal and state affordable-housing credits. Early projections put the cost at $24.2 million, with $12.7 million coming through housing tax credits, $4.6 million through a first mortgage loan and a second $6.9 million mortgage loan from the city of Aspen.

rcarroll@aspentimes.com

Community open houses

Aspen Housing Partners, which plans to develop rental employee-housing on three city-owned properties, will hold open houses on the following dates at the Limelight Hotel.

Here’s the schedule:

• Jan. 5, 3 to 7 p.m.

• Jan. 11, 11 a.m. to 1 p.m. and 4 to 6 p.m.

• March 2, 3 to 7 p.m.

• March 8, 11 a.m. to 1 p.m. and 4 to 6 p.m.