Letter to the Editor: Proposed affordable housing not so affordable
We were shocked to read the proposed prices of units in the new Coffey Place development in Snowmass Village, ranging from $523,000 to $824,000. We are residents of Rodeo Place and the starting prices of our townhouses and homes were “half” of the starting prices of these new homes. We are dismayed to see such high prices (wages have certainly not doubled over the last few years) and are wondering how many employees will actually qualify for such housing.
People have been asking for affordable housing in Snowmass Village, urging the town to address the growing employee base here. But only a narrow sliver of employees will be able to afford a two-bedroom townhouse for $523,000. The sales price for the same townhouse next door in Rodeo Place, in January of this year, was $270,812. The sales price for the last single-family home to be built at Rodeo Place was $265,000.
Why are these same homes now so much more expensive to build only a few years later? If Snowmass Village employees do not qualify, will the town then sell its subsidized housing stock to Pitkin County workers? Surely this is not the goal of the TOSV housing program.
We also understand that the smaller townhouses are meant to be options for Crossings owners to downsize, so that the town can free up those larger Crossings homes for families. We have doubt that such owners will want to downsize to a townhouse that is one-third of the size and yet costs almost as much as their single family home.
Rodeo Place is an incredible neighborhood. We were hoping the new stock of employee housing at Coffey Place would provide the same type of opportunities for our dedicated employees, colleagues and residents to own a home in Snowmass Village. We have heard that their dreams have been dashed by these unattainable prices.
We urge the Town Council to reconsider the cost of Coffey Place and honestly ask who will ultimately bear that cost and who will ultimately come to own these homes. Thank you.
Dusty and Alexis Diaz; Dan and Anjuli DiMaria; Kevin and Jamie Sloate; Torey Trefz, Michelle Wilson