Lake Creek Village

lake-creek-case-study-half-pageProperty Type:  Garden-style

Size:  270 units spread across 35 buildings

Location:   Edwards, CO (Vail Valley)

Investment Strategy:  Work-force housing

Current Occupancy:  99%





The Story:

  • Acquired land, entitled and developed the largest affordable housing community in the Vail Valley
  • Public-private partnership with Eagle County
  • Secured tax-fee bond financing in-lieu of traditional financing
  • Lead recapitalization effort in 2012, retired bonds and secured HUD financing, providing additional funds for capital improvements
  • Unit upgrades for all 270 units initiated in 2012
  • Clubhouse renovation and expansion in process for 2013-2014
  • Continued Corum management since completion