4923 Lake Creek Village Dr., Edwards, CO 81632
Colliers is pleased to present to qualified investors the opportunity to preserve affordable housing in Eagle County, Colorado.
Highlights
- Once-in-a-Generation Opportunity to Acquire Premier Affordable Housing in Edwards, CO. In close vicinity to world-renowned ski resorts Vail and Beaver Creek, the median transaction price of Single Family Homes in Eagle County for April 2021 was $795,000 (Land Title Guarantee Company). Additionally, housing costs are significantly higher than the nationwide average and a recent Eagle County Housing Assessment showed a shortfall of 4,500 units to meet current needs (https://www.eaglecounty.us/housing/assessmentsandstudies). Workforce housing in such an affluent area is rare and of vital importance to the health and vibrancy of Eagle County, and currently the number ONE strategic priority of the Eagle County Housing and Development Authority's board and community partners. The future owner has the opportunity to preserve affordable housing in a location where it’s greatly needed.
- Significant Resident Demand for Affordable Housing. Colorado in general, but the Vail Valley and Edwards, CO in particular, has an extremely durable demand from residents for affordable housing. Lake Creek Village Apartments consistently keeps a robust future resident waiting list and usually stays nearly 100% leased.
- Spacious and Highly Amenitized Property. Lake Creek Village is a rare 270-unit, low-density, 1990s vintage asset with a unique and spacious unit mix that includes nearly 90% 2x2 and 3x2 floor plans. Additionally, the property has a significant community amenity package that includes a large playground with climbing wall, a Frisbee golf course, a leasing office, and an enormous Community Center with clubhouse, two classrooms, and a second story office space suitable for robust resident support programs.
