February 21, 2022, Silverthorne, CO
It is no secret that labor shortages continue to impact businesses and communities all over the state, with Colorado mountain communities being some of the hardest hit due to the lack of affordable housing options. People need to be able to afford to live in the communities where they work and contribute. Since the pandemic, mountain communities have seen an influx of tourists and seasonal visitors that have the means to spend more time and money in these mountain destinations. This exacerbates the shortage of housing and drives up the cost of what housing options remain – often pricing out the locals. As a result, businesses are limiting hours or closing altogether which leaves locals and tourists without the resources they need. Milender White has been working with the Town of Silverthorne to bring some relief to this exact problem in Summit County.
Milender White has proposed a 132-bed workforce housing apartment building that would provide an affordable housing option for employees in Silverthorne, with 60% of the bedrooms proposed to be rent-restricted. An integral part of the Fourth Street North development, this project is within walking distance to Silverthorne’s new transit hub at Fourth Street Crossing, providing free and convenient transportation to jobs across Summit County. Fourth Street North will expand Silverthorne’s town core, continuing the energy created by Fourth Street Crossing which includes Bluebird Market and Hotel Indigo.
By bringing much-needed affordable housing to Silverthorne, the goal is to sustain a strong local workforce which in turn helps to create and sustain local businesses. The Town of Silverthorne is aware of the dire need for housing, not just seasonal workers who support the influx of tourists and visitors but restauranteurs, retail staff, teachers, firefighters, and other employees who support the overall day to day functions of the community. Workforce housing offers stability and retention by enabling the employees to live in the community in which they work.
The new rental community would be contained in one 3-story building with 91 parking spaces below. The residences would be a mix of 2-bedroom, 3-bedroom, and 4-bedroom units. Each bedroom will be rented individually, and the cost to the residents would be far less than if one were to rent a studio or 1-bedroom apartment. Each room includes its own private bathroom and closet, with a common kitchen and living area. There will be a courtyard and a clubhouse with Class-A apartment amenities including storage lockers, gear maintenance room, outdoor BBQs, and a dog wash.
The ”rent by-the-bedroom” housing model, sometimes referred to as coliving, specifically targets the housing crisis in the mountains of Colorado. The shortage of housing in the region has grown dramatically with the explosion in demand for investment properties and secondary residences. This demand has made even finding an attainable place to live a virtual impossibility for the workforce in the county that services the tourism industry and the local communities. This is the workforce that runs the operations at the ski resorts, the servers and bartenders, the emergency services personnel, teachers, and the cleaning and maintenance personnel for the lodging throughout the county.
Milender White is a full-service real estate company dedicated to delivering outstanding results on every project, unsurpassed service to clients, and superb career opportunities – with a total commitment to safety, quality, and integrity. We proudly deliver award-winning commercial and residential projects based on proven systems, advanced technology, and cutting-edge design development. MW takes pride in building inclusive projects that meet the needs of the city, and it strives to become part of the fabric of the communities in which it develops. Visit us at www.milenderwhite.com.
Based in Boulder, Colorado DTJ Design works with owners and developers on everything from large-scale communities to intimate enclaves and mixed-use environments, DTJ’s site-sensitive planning adds value to real estate. As the framework for the community, DTJ recognizes that enduring projects integrate the built environment with the unforgettable characteristics of the land. DTJ blends artistry and function to realize the added value in creating distinct neighborhoods and community destinations with meaningful open space and amenity areas. https://dtjdesign.com/Back to News