Question 1

Where is Gateway Village located?

Accepted Answer

It is located approximately 20 minutes south of the I-70 Copper Mountain exit, just north of the historic town of Leadville. It is accessed by the all-weather Colorado state highway 91.

Question 2

What is the target market for Gateway Village?

Accepted Answer

The primary target market is the workforce that serves the economy in the Summit, Eagle, and Lake counties who have difficulty affording housing in that region. Gateway Village is also intended to offer housing for retirees and those whose jobs allow them to live anywhere. Anyone who loves a mountain lifestyle that is not necessarily lift-served would fit in well at Gateway Village.

Question 3

Is second homeownership allowed in Gateway Village?

Accepted Answer

Yes. It is allowed but that market is already well-served by other communities, so the Gateway Village development team prefers full-time residents to occupy its housing.

Question 4

What does it cost for a home in Gateway Village?

Accepted Answer

The ultimate cost to rent or own a home in Gateway Village will be set based on the final construction cost. Based on current cost estimates, here are the target prices:   Apartments                             Size (sq.ft.)                 Expected Rent Studio                                     568                            $900/month Small 1BR/1BA                       812                            $1200/month Large 1BR/1BA                       884                            $1300/month 2BR/2BA                                1120                           $1600/month Small 3BR/3BA                       1364                           $1900/month Large 3BR/3BA                      1436                           $2000/month 4BR/4BA                                1704                           $2300/month                          Townhomes                            Size (sq.ft.)                 Expected Price 2BR/2BA                                990                             $239,900 2BR/2BA/loft                          1185                           $279,900 3BR/3BA                                1554                           $349,900 3BR/3BA/loft                          1856                           $399,000

Question 5

What is the status of the planned community?

Accepted Answer

Lake County has a 3-phase approval process for new real estate developments. The Gateway Village development team has approval for the first phase and is currently moving through the second phase. As part of this process a digital advertising campaign is being conducted that will be used to determine the housing mix that will fit the final site plan for Gateway Village. The results of this campaign will also be used as a means of determining the households that will be offered housing in Gateway Village in case there is more demand than supply for this housing.

Question 6

What are some of the features planned for the Gateway Village community?

Accepted Answer

Gateway Village is being designed as a mountain-lifestyle community, complete with a director of outdoor-adventures. Also planned for the community is a large pond, stocked for fishing, and with winter-time ice skating. The development team aims to work with the owners of nearby public land to create a public nature park at the headwaters of the Arkansas River, which is a gold medal fishing river.

Question 7

What is the planned opening date for the Gateway Village housing?

Accepted Answer

The target date to start construction is summer. 2020, with first occupancy targeted for summer, 2021.

Question 8

How close is Gateway Village to lift-served skiing?

Accepted Answer

Gateway Village is approximately: 10 minutes to Ski Cooper 20 minutes to Copper Mountain 40 minutes to Vail and Breckenridge

Question 9

Do I need a car to live in Gateway Village?

Accepted Answer

No. Gateway Village is a 15-minute walk or 5-minute bike ride to Leadville’s Safeway grocery store/pharmacy. Plus, there is commuter bus service to Summit and Eagle counties. With the increase in population as Gateway Village reaches capacity, additional public transportation is expected.

Question 10

Is there low-income housing assistance for homes in Gateway Village?

Accepted Answer

Yes. The Gateway Village development team has committed to have at least 15% of the homes targeted at workers qualifying with income in the 30% to 50% range of Area Median Income. First preference will be given to workers whose job is in Lake County.

Question 11

What allows Gateway Village to be offered at prices so much below its competitors in Summit and Eagle counties?

Accepted Answer

A combination of several factors: 1) Lower land costs in Lake County 2) Lower construction costs using factory-produced housing modules 3) Expected, but not yet guaranteed, government-assisted financing for streets, water, sewer-treatment, etc. from the local Urban Renewal Authority and Metro District municipal bonds 4) Lower required investor return caused by known demand for housing that is created by community participation in workforce housing application and survey that is ongoing.

GATEWAY VILLAGE

HOUSING APPLICATION