Excerpt from:  Vail Real Estate
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January 17, 2008

Stratton Flats in Gypsum,Colorado offers 339 Affordable Homes

Eagle County invests $4.5 Million into Stratton Flats Development

Stratton Flats - Gypsum, Colorado

7 Miles to Eagle Ranch Public Golf Course

35 Miles to Vail Ski Resort

60 Miles to Snowmass/Aspen Ski Resort

2 Miles to Eagle County Airport

The residential project is comprised of 47.3 acres and a total of 339 residences -152 single family, 118 multi-family Townhomes and 69 condominiums.  Of these, 226 of the 339 properties will be deed resrtricted.

Eagle County has invested $4.5 Million Dollars into this affordable housing community in Gypsum. The county expects to recover the $4.5 Million dollar investment, plus 6 percent, when the project is completed, through the sales of the homes.  The goals the developer and the Town of Gypsum are to promote affordable, primary residences and family oriented housing.  They hope to provide a broad spectrum of housing types, lot sizes and selling prices in order to encourage social diversity and balance.

A one bedroom condominium is expected to sell for about $165,000 and a 2,020 Square fooot home is expected to sell for $370,000.  The homes will be available only to full-time Eagle County workers and residents.  The Town of Gypsum has approved the project and construction will start this Spring and the first homes are expected to be completed in the Fall of 2008.

The Victorian-inspired architecture and color palette will be emphasized throughout the project, while mixed-use density and multiple architectural models will allow for optimal aesthetics. Each home will feature fully landscaped front, side and backyards while additional common area landscaping will be created along the entrances, streetscapes and within new parks.

The entire development encompasses 121 acres of mixed-use development consisting of retail/commercial, residential and hospitality uses. Meritage Development Group and affiliates have successfully completed residental, commercial and mix-use projects in Colorado and California.    www.meritagedevelopment.com

www.townofgypsum.com

For more information on Stratton Flats, contact Teri Lester, Eco-Broker at 970-376-0779 or tlester@gatewayland.com

by Teri Lester
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