A local hotel will be converted into workforce housing in a collaboration between Summit County, Breckenridge
A 1961 hotel on the outskirts of Breckenridge will be converted into 38 workforce housing units following the purchase of the property by the Summit County government and the Town of Breckenridge.
Breckenridge and the county acquired the hotel in a 50-50 deal, each contributing $3 million to the $6 million expense.
The LOGE Hotel is located in unincorporated Summit County on Tiger Road. According to Summit County Housing Manager Jason Dietz, the units will be available as early as this fall. It’s too early to determine the rent price, Dietz said.
While the hotel itself may require work such as fixing light fixtures, updating bathroom fans and winterizing the heating system, providing immediate housing for the community is utmost importance, said Laurie Best, housing manager at Breckenridge.
“I think, you know, the pressure and the stress on our housing inventory today is different than it’s ever been,” Best said.
The increase in short-term rentals in Summit County has led to a situation where visitors are staying in areas where long-term residents have traditionally lived, and the increase in conversions of hotels for main housing -work has put many residents into buildings that were once built for short-term occupancy.
Over the past few years, the Alpine Inn in Frisco and the Days Inn in Silverthorne have combined to create nearly 100 additional units for the local Summit County workforce.
Best said the LOGE hotel has repeatedly entered the Breckenridge Housing Department options group. The ministry refused it several times, but this year it took the plunge.
“When we have the opportunity to acquire 38 units at a good price per unit…it’s not an opportunity we’re going to pass up,” Best said.
Best added that while the hotel may appear to be priced high, acquiring existing housing units makes it a feasible and reasonably priced project.
“That’s a lot of money, but if you look at what it costs us to build new units, (or) convert existing inventory to deed-restricted inventory, that’s way more than the cost acquisition here per unit,” Best said.
She explained that building new units on vacant land would cost approximately more than $400,000 each. Therefore, building 38 would cost around $15 million.
These units are still hotel rooms, however. Dietz added that there are no kitchens in the rooms, so a communal kitchen will be available for all residents. Efforts will also be made to allow hot plates within the units.
More renovations are needed, but Best said the hotel’s location was one of the reasons they couldn’t pass up this opportunity.
The hotel is near a bus stop and surrounded by other workforce housing and residential areas. It also has access to trails and even has some nice views, Best added.
However, Best said the property itself had some capacity to be something more. Once the zoning is adjusted and the building is converted from a well and septic system to city water and sewer, the 1.8-acre site has potential, Dietz said.
Both Dietz and Best felt that at some point in the future the property might be redeveloped into a multi-story apartment complex.
While a hotel may not be the ideal housing situation for many, Best said the current housing market leaves many people looking for a single unit, an opportunity she is thrilled to have. provide to the residents of the community.
“Having diversity in housing is very important to the city and county,” Best said. “I think the LOGE certainly offers accommodations that fit the demographics. »