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Monday, February 28, 2022
February Real Estate Update
Friday, February 25, 2022
Breckenridge commits $50 million to ambitious workforce housing plan
#breckenridge #colorado #coloradorealtor
Editor’s note: This story has been updated to correct information about the Town of Breckenridge’s short-term rental fee.
A Breckenridge plan to invest $50 million into workforce housing over the next five years could result in 970 additional units for workers living within town limits.
The Breckenridge Town Council gave its approval of the Five-Year Housing Blueprint at its meeting Tuesday, Feb. 22. The blueprint outlines the town’s goal to have 47% of the town’s workforce living in Breckenridge. Additionally, the plan aims to create a balance of 35% resident housing to 65% vacation or resort lodging in the community.
Although Breckenridge itself will be committing $50 million, town officials hope to leverage partnerships and projects with private developers and existing homeowners into a total $300 million investment into housing over the next five years.
The town’s short-term rental fee, which the council passed in November 2021, will help fund the $50 million investment. The fee requires every short-term rental license owner to pay $400 per bedroom to support the town’s workforce housing initiatives.
Monday, February 21, 2022
Historic Reiling Dredge no longer listed as an endangered site
The dredge, located in French Gulch was listed as endangered in 2015. Breckenridge Heritage Alliance Executive Director Larissa O’Neil said the listing helped the nonprofit work with the advocacy group and other agencies to get funding necessary to preserve the site before it was lost for good.
“It’s such a unique site,” O’Neil said. “We’re talking about a partially submerged vessel. We literally have a boat at 10,000 feet that’s sitting in a pond that’s been sitting there for a hundred years, and it’s just so abnormal to this area.”
O’Neil said it cost about $350,000 total to restore, with the State Historical Fund, town of Breckenridge and Summit County government being the top three contributors. According to Colorado Preservation Inc., the Reiling Dredge is now considered to be one of the most intact dredges in the United States.
Courtesy of the Summit Daily News
Sunday, February 20, 2022
Summit County Realtors worry short-term rental regulations will lead to fewer sales
As town and county governments regulate short-term rentals, some Summit County Realtors worry about what the future has in store.
In November, the Breckenridge Town Council’s ordinance that established a cap of 2,200 non-exempt short-term rental licenses went into effect. The move effectively placed a moratorium on the addition of short-term rental properties in the town because that cap was already exceeded.
Summit County government shortly followed suit by implementing new short-term rental regulations for areas that in unincorporated areas of the county. The county’s regulations placed rentals in one of two zones: resort or neighborhood. Properties in the neighborhood zones are unable to rent for more than 135 nights per year.
County and town officials passed the regulations as an attempt to prevent long-term rental properties from turning into short-term rentals and taking away housing from the county’s workforce. But some Realtors worry the regulations are rife with unintended consequences.
Steve Fisher, board president of the Summit Association of Realtors, said it’s too early to tell how exactly the new rules will impact sales. However, he has heard from Realtors who are struggling to sell in Breckenridge.
“Until there are some actual answers from Town Council and some definitive data they can show that supports the short-term rental caps will achieve what they see as goals, I think we’ll see an impasse for a while,” Fisher said.
Courtesy of the Summit Daily News.
Friday, February 18, 2022
What makes Colorado’s snowpack unique?
When it comes to winter, there are a few things synonymous with Colorado: blue skies, light snow and avalanches.
Within our beloved Colorado mountain ranges, an interesting concoction of elevation, temperature, wind and snowfall combine with an abundance of clear, sunny days to form conditions unlike anywhere else in the mountain west. The weather patterns that give us bluebird, Champagne powder days also give us the most avalanche-prone snowpack in the country.
Among the three primary snowpack zones — maritime, intermountain and continental — Colorado falls into the continental zone. We’re landlocked on the Continental Divide, far away from any large bodies of water, so our air is bone dry and our precipitation totals are less than those of coastal climates. Our mountains soar to high elevations where the mercury plummets in winter, and overall temperatures fluctuate more dramatically than lower elevation areas.
Wednesday, February 16, 2022
Dillon passes short-term rental occupancy cap on 1st reading
After months of discussion, the town of Dillon has finalized short-term rental regulations.
It sets up sets up a fee structure as well as introduces an occupancy cap for short-term rentals. The first reading was unanimously passed by Dillon Town Council on Tuesday, Feb. 15, with no further comments as part of the meeting’s consent agenda.
The new regulations come from the town seeing a large influx of rental properties that has created issues with waste, noise, parking, access to housing and more.
Dillon has 1,356 housing units and 357 of them, or 26%, had a short-term rental license as of mid-November.
Tuesday, February 15, 2022
Frisco Town Council hears Main Street improvement ideas ahead of March vote
The town of Frisco is in the middle of drafting and approving its Complete Streets Plan to give the downtown area an overhaul. The latest step of the process had town staff and a consultant team going over planned multimodal designs during a work session Tuesday, Feb. 8.
The plan started taking shape last summer with teams studying existing street conditions, including gathering data before and after the Frisco Pedestrian Promenade.
A public survey gathered more feedback, and the group then spent the next few months refining the design. The focus of the plan is Granite and Galena streets, as well as the north-south avenues between Madison and Seventh, and the alleys behind Main Street.
“It takes us toward a place where we have a clear set of steps and action items that we are going to be able to follow and implement in order to achieve the street network we all envision,” Frisco Community Development Planner Susan Lee said.
Friday, February 11, 2022
The Real Estate Market: January 2022
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