Eagle County: Haymeadow Phase 1 for-sale units coming this spring

Eagle County recently issued the following press release on Haymeadow Phase 1 for-sale affordable housing units coming this spring:

Homeownership in the heart of Eagle County is within reach. The Eagle County Housing and Development Authority (ECHDA) is excited to announce the upcoming availability of 43 price-capped deed-restricted units in Haymeadow Phase 1, located in Eagle, with two-bedroom, two-bath condominiums starting at $400,508.

“Helping our local workforce access the dream of home ownership is what motivates our team every day,” said Kim Bell Williams, Eagle County Housing Director. “Haymeadow represents a rare opportunity for homebuyers to purchase new construction at prices well below the market average, thanks to a subsidy from the ECHDA Board of Directors. The last time our community had this opportunity was in 2006 with the Miller Ranch development.”

Applicants for ECHDA’s deed-restricted Haymeadow units must meet the “Eligible Households” definition outlined in the Eagle County Affordable Housing Guidelines: Administrative Procedures. Qualifications include, but are not limited to, the following:

• Must be an owner-occupied primary residence.
• May not own other real estate.
• Applicants must be employed at an Eagle County business, working an average of 30 hours per week on an annual basis or,
• The household must cumulatively earn at least 75 percent of the household’s gross income in Eagle County or,
• A household member over the age of 60 who primarily earned a living in Eagle County before retirement or,
• The household includes a disabled person who was a full-time employee in Eagle County immediately prior to the disability.
• Applicants must agree to an annual maximum price appreciation cap percentage as stated in the deed restriction.

Please note that there are additional avenues for qualification, offering flexibility to accommodate a variety of applicants.

Applicants are required to submit a photo ID, employment verification, and a prequalification letter from a lender experienced in local deed-restriction underwriting. These documents must accompany their electronic application, which will be available starting January 17, 2024, at HousingEagleCounty.com/haymeadow. Applications must be submitted by 4:00 p.m. on February 29, 2024. There will be multiple drawings, all of which will be scheduled, televised, and recorded. The drawing for the first 7 units is set for March 7, 2024.

Nestled along Brush Creek and boasting mountain views of the Sawatch Range, Hardscrabble Mountain, and Castle Peak, these residences showcase thoughtfully designed, open floor plans with single-level living, modern mountain finishes, and large corner windows. Haymeadow homeowners have access to a wide range of amenities, including an extensive network of world-class mountain biking and hiking trails. The Eagle Pool and Ice Rink is conveniently located right next door, and Sylvan Lake State Park, known for its stunning beauty, is just minutes away. Haymeadow is ideally situated, offering easy access to skiing, snowboarding, concerts, theaters, fine dining, shopping, and many more adventures.

Haymeadow Phase 1 will also feature 33 deed-restricted homes provided through the Town of Eagle’s Local Employee Residency Program (LERP). This includes 18 price-capped and 15 resident-occupied units. For more information on these units, please visit Haymeadow.com/contact.

Visit HousingEagleCounty.com/haymeadow to learn more about this exciting homeownership opportunity, open house events, and application requirements.