Habitat for Humanity Vail Valley closes on land to build 12 more homes in Gypsum

After ten months of negotiations, Habitat for Humanity Vail Valley (HFHVV) on Wednesday officially closed on a .704 acre parcel of land, which will allow the organization to build 12 additional homes (six duplexes) in the Stratton Flats neighborhood in Gypsum, Colorado. The land was purchased from Stratton Flats Homes LLC and provides Habitat with the property it needs to build homes through 2018.

“These additional Habitat homes in Stratton Flats will offer hardworking Eagle County residents the opportunity to own their own home, build equity, and put down roots in the Gypsum community,” said HFHVV’s Executive Director John Welaj. “When all is said and done there will be 40 Habitat families living in this neighborhood.”

Acquiring affordable land remains one of HFHVV’s greatest challenges and is often one of the most expensive elements of building a home. Since Habitat is a not-for-profit developer, any savings realized through land acquisition, or from discounted or donated products or services, is passed directly onto the family by providing them with a more affordable mortgage.

Habitat’s most recent land purchase was made possible through partnerships with Brian Pauls (Stratton Flats Homes LLC), Colorado Business Bank, Greg Perkins (Wear Travers Perkins LLC), Rick Pylman (Pylman & Associates), Greg Shaner (Matrix Design Group), Jason Neil (Peak Surveying) and the Town of Gypsum.

“The Town of Gypsum is proud to support Habitat’s efforts to build 12 additional homes in our community,” said Senior Planner Lana Gallegos. “We’re thrilled that the ‘American Dream’ of home ownership will be realized by a dozen more deserving Eagle County families.”

Affordable housing has become an increasingly difficult challenge in the Vail Valley, with 45% of Eagle County families paying more than 30% of their gross income on housing expenses. HFHVV is a leader in developing affordable housing solutions in Eagle County and relies on collaborative partnerships to provide affordable housing solutions to County residents. HFHVV builds houses, using primarily volunteer labor, and sells them at cost, with no profit and no interest to local, working families.

HFHVV is currently building six homes per year. Its goal is to build a base of affordable housing in Eagle County that remains affordable for the long term. HFHVV welcomes people from all walks of life to partner in its mission to create a better community for everyone who lives in Eagle County. Since 1995, HFHVV has built and renovated 56 homes in Eagle and Lake Counties in the communities of Leadville, Edwards, Eagle and Gypsum.

For more information about Habitat for Humanity Vail Valley, call 970-748-6718.

By the Numbers

• $501,700 – Median Home Sale Price in Eagle County (2015 year-to-date)
  
• $175,000 – Current Sale Price of a Three-Bedroom Habitat Vail Valley Home
  
• $780 – Eagle County’s Average Weekly Wage; $996 Colorado’s Average Weekly Wage
  
• 3,600 – Number of Eagle County households that meet HFHVV’s homeowner qualifications
  
• 6:1 – HFHVV receives 6 homeowner applications for every 1 home that we build in Eagle County
  
• 250 – Number of volunteer hours or “sweat equity” invested per adult Habitat homeowner on the construction of their own homes
  
• 0% – Interest rate for a Habitat Vail Valley home mortgage