Residences at Granite Park
Residences at Granite Park located at 619 Granite Street – The Town of Frisco and the Colorado Department of Transportation (CDOT) partnered to develop workforce housing at 619 Granite Street in Frisco. In 2022, the Town of Frisco and CDOT were joined in this unique partnership by the Colorado Department of Local Affairs (DOLA), which awarded $1.5 million to the Town of Frisco to help bring the Residences at Granite Park to reality through their Innovative Housing Opportunities Incentive grants. The approximately 0.58 acre site was previously used as a mobile home park to provide affordable housing for CDOT employees. The Town of Frisco now owns this site and has worked with CDOT to build a 22-unit workforce housing project, which will be available for rent in early winter 2024.
The project, once constructed, will consist of 22 apartment-style units split among two 3-story buildings. The unit mix will include five (5) studio, eleven one-bedroom and six two-bedroom units. Half of the units (11) will be reserved for CDOT employees, to ensure that CDOT has housing opportunities for those that maintain the critical transportation infrastructure in the community, and the other half of the units (11) will be made available for rent to residents employed in Summit County on average a minimum of 30 hours per week on an annual basis who are at or below 80% AMI.
Granite Park Housing Lottery
The Town of Frisco will hold a housing lottery run by Summit Combined Housing Authority for the 11 Town of Frisco owned units. The lottery will likely be in February 2025 with anticipated occupancy in March 2025. Please contact James Gorham at JamesG@townoffrisco.com to be added to an interest list in order to receive Residences at Granite Park housing lottery information once it is made available.
NHP Galena Street and Main Street Projects
The Town of Frisco has been working to develop rental workforce housing units on Frisco Main Street and Galena Street with the NHP Foundation, which is a not-for-profit real estate organization dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. In May 2023, Frisco Town Council approved Ordinance 23-14 concerning the development of two affordable rental housing projects, where the Town of Frisco intends to grant a long-term ground lease at 602 Galena Street to NHP Foundation to facilitate the development of affordable housing units. NHP has also purchased 101 West Main Street to develop affordable housing. Through this acquisition, NHP would finance, construct, and operate affordable housing improvements, in addition to owning the property. NHP has requested the Town make a loan of $2,500,000.00 to assist with acquiring the property. NHP intends to submit an application to the Colorado Housing and Finance Authority (CHFA) for an allocation of 9% federal low-income housing tax credits (LIHTC) for 602 Galena Street and an additional application to CHFA for an allocation of Colorado tax-exempt bonding authority and 4% federal LIHTC, along with an allocation of Colorado state housing tax credits for 101 West Main Street.
In the development agreement and the subsequent amendment, NHP has agreed to develop 602 Galena Street into no less than 54 units and no less than 49 units at 101 West Main Street, for 100% affordable housing; so over 100 units. Town Council determined that it is in the public interest for the Town to grant a long-term ground lease over 602 Galena Street and to loan $2,500,000.00 to NHP for the acquisition of 101 West Main Street for the purpose of developing affordable housing units because the need for workforce housing greatly exceeds the supply.
Construction is anticipated to begin in 2025 on 602 Galena and construction at 101 West Main will follow.
- Lake Hill Project– The Lake Hill property, located along Dillon Dam Road in unincorporated Summit County and adjacent to the Town of Frisco, is a workforce housing project being spearheaded by Summit County. 400+ housing units of a variety of types, including single family detached, duplexes, townhouses, and large multifamily buildings are contemplated. In 2000 the Town of Frisco identified this 44.81-acre parcel as a desirable location for affordable workforce housing. In 2011, Summit County took a lead on the acquisition of this property at the request of the Town of Frisco, and in 2016, Summit County purchased this land from the United States Forest Service.
- In March 2017, Frisco Town Council discussed the Lake Hill Master Plan in a joint meeting with Summit County Commissioners. While there is much support for the plan, Frisco Town Council members noted unresolved concerns including but not limited to the following: traffic flow at Dillon Dam and Highway 9, the amount of proposed units and availability of water. There has been no request to annex this property into the Town of Frisco, but Summit County has involved Frisco in stakeholder planning throughout the process.
- The Lake Hill Master Plan is intended to be a flexible guide, and there is a robust entitlement process still ahead before work can begin on building housing on this site, including the installing infrastructure. Construction would be in phases over a 15-20 year period of time. Summit County approved the Lake Hill Master Plan in July 2017, and a construction timeline has not yet been determined.
- Goals of the Lake Hill Project include:
- Having mix of housing styles and types, with both rental and ownership opportunities.
- Provide housing choices affordable to a variety of income levels to encourage a healthy, diverse community and address the needs identified in the 2013 Summit County Workforce Housing Needs Assessment; 2016 Summit County Workforce Housing Demand Update; and the 2019 Summit County Workforce Housing Needs Assessment.
- Create opportunity for people to easily move within the neighborhood, to upsize or downsize their homes as life situations change.
- Architectural design and scale shall be compatible with the local aesthetic found in the Town of Frisco and surrounding areas, and follow the guidelines included herein for site and building character
- Respect and fit into the surrounding natural environment.
- Build sustainable, energy-efficient homes that will offer ongoing affordability, durability and low costs of ownership and operation.
There is no anticipated start date for this project.