The Town of Breckenridge is pressing forward with the second phase of the Valley Brook attainable housing neighborhood while increased its subsidy of four of the 20 homes making them Housing and Urban Development (HUD) low-income units.
“There is a lot of demand for HUD low income and (we got) very favorable pricing for the construction,” Breckenridge spokeswoman Kim DiLallo said. “It's going to be better for the town's finances in the long run.”
The town council also considered the importance of avoiding competition with Wellington homes on the market in a slightly higher price range when deciding to convert the units to HUD low income. The competition of government-subsidized housing with fair-market units is a common complaint from local real estate professionals.
