HomeMy WebLinkAboutPACKET CompPAC 2021-07-08
CompPAC – TOWN OF ESTES PARK
TO BE HELD VIRTUALLY
Thursday, July 8, 2021
9:00 a.m.
Estes Park, CO 80517
The Estes Park Board Comprehensive Plan Advisory Committee will participate in the meeting remotely
due to the Declaration of Emergency signed by Town Administrator Machalek on March 19, 2020,
related to COVID-19 and provided for with the adoption of Ordinance 04-20 on March 18, 2020.
Procedures for quasi-judicial virtual public hearings are established through Emergency Rule 06-20
signed by Town Administrator Machalek on May 8, 2020, and outlined below.
Please click the link below to join the webinar: https://zoom.us/j/92672524563
Or Join by Telephone:
1. Dial US: +1 833-548-0276 (toll free)
2. Enter Webinar ID: 926 7252 4563 followed by #
The meeting will also be live-streamed on the Town’s Youtube Channel and recorded and
posted to YouTube and www.estes.org/videos within 48 hours.
Public Comment
When the moderator opens up the public comment period for an agenda item, attendees
wishing to speak shall:
1. Click the “Raise Hand” button, if joining online on the Zoom client, or
2. Press *9 and follow the prompts if joining by telephone.
3. If you are watching live on YouTube, please call the number listed above, and mute your
computer audio for the duration of your remarks.
Once you are announced, please state your name and address for the record.
To participate online via Zoom, you must:
• Have an internet-enabled smartphone, laptop or computer.
• Using earphones with a microphone will significantly improve your audio experience.
The Town of Estes Park will make reasonable accommodations for access to Town services, programs, and activities and
special communication arrangements for persons with disabilities. Please call (970) 577-4777. TDD available.
Prepared July 2, 2021
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AGENDA
COMPREHENSIVE PLAN ADVISORY COMMITTEE (CompPAC)
TOWN OF ESTES PARK
Thursday, July 8, 2021
9:00 a.m. – 11:00 a.m.
[Note: Please retain packet materials from previous meetings that we did not cover due to
time constraints; this will avoid the necessity of sending duplicate materials.]
1. CALL TO ORDER
2. AGENDA APPROVAL
3. PUBLIC COMMENT. (Please state your name and address).
4. ACTION ITEMS:
a. Minutes: June 24, 2021 [by voice vote]
b. “Plan Branding”: Name; Logo; Color Scheme Staff, Members
5. DISCUSSION ITEMS:
a. Future systems: Housing, Childcare Asst. Town Admin. Damweber
b. Audit of 1996 Comp Plan; questionnaire Staff
c. Discussion: Big Issues (from homework) Committee Members
6. ADJOURN
Prepared 07/02/2021
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Town of Estes Park, Larimer County, Colorado, June 24, 2021
Minutes of a Regular meeting of the Comprehensive Plan Advisory
Committee of the Town of Estes Park, Larimer County, Colorado. Meeting
held via ZOOM in said Town of Estes Park on 24 Jun 2021.
Committee: David Bangs, Eric Blackhurst, Chuck Cooper, Matthew
Heiser, Bob Leavitt, Kirby Nelson-Hazelton, John
Schnipkoweit, Dave Shirk, Karen Thompson, Rose Truman,
David Wolf, Matt Comstock, Mike Kennedy
Attending: David Bangs, Eric Blackhurst, Charles Cooper, Matthew
Heiser, Kirby Hazelton, Bob Leavitt John Schnipkoweit, Dave
Shirk, Karen Thompson, David Wolf, Mike Kennedy,
Community Development Director Randy Hunt, Larimer
County Community Development Director Leslie Ellis, Trustee
Barbara MacAlpine, Planner II Alex Bergeron, Planning Tech
Charlie Rugaber, Recording Secretary Karin Swanlund
Absent: Member Comstock
Chair Heiser called the meeting to order at 9:00 a.m.
APPROVAL OF AGENDA:
It was moved and seconded (Cooper/Hazelton) to approve the agenda. Chair Heiser
requested the following changes: add discussion item 5.a.1 Three-mile map, and move
5.b., Branding, after 5.d. The motion passed with a visual thumbs-up vote.
PUBLIC COMMENT.
None
ACTION ITEM:
1.Approval of Minutes from June 10, 2021
It was moved and seconded (Blackhurst/Kennedy) to approve the minutes. The
motion passed with a visual thumbs-up vote.
DISCUSSION ITEMS: (all comments have been summarized)
1.Miriam McGilvray, Logan Simpson project manager, reviewed the engagement
strategy, a “living document,” updated regularly. It outlines all participant’s roles
throughout the process as well as outreach activities. Regarding stakeholders,
Member Blackhurst noted that the older demographic might need a non-electronic
way of being informed, such as a direct mailing. Member Shirk brought up the
non-supporters and having a plan to work with them. Member Hazelton noted that
participation in the busy summer months could be a challenge, especially for
business owners. Member Truman recommended having a translator available at
events.
2.Director Hunt explained that if annexation is addressed in the Comp Plan, we are
obliged to use the three-mile-radius plan area, per the DOLA contract. Director
Ellis stated that looking outside of current town boundaries and working together
to identify concerns outside these boundaries is essential. Some level of
coordination between jurisdictions should be taken.
3.Director Hunt reviewed the issues/concerns/keywords that the CompPAC
members submitted. The comments were broken down into categories: the
environment, economic health, and housing being the top concerns.
“Sustainability” (economic, environmental, social) was the most used keyword,
followed by the need to be proactive and forward-looking.
draft
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4.Chair Heiser requested putting off the discussion on logos and branding until the
next meeting due to time constraints.
5.Director Muhonen presented a Public Works slide show on the history and future
of transportation, drainage and engineering. A critical element is to get the
Downtown Loop built. Ideally, the Comp Plan should recognize renewing the 2014
Roadway Maintenance and Trail Expansion 1A sales tax initiative, which expires
in 2024. There is a need for a transportation impact fee: who pays for it and how
to make it fair. The trails master plan needs updating, and the Parking Plan still
has phases 3 and 4 to be implemented. A new Stormwater Utility is needed to
fund, implement and manage the necessary upgrades to the Town’s stormwater
infrastructure. Engineering brings the transportation and stormwater
recommendations to life and recommends adopted master plans and the Town
Board annual Strategic Plan objectives. Other topics for the committee to
consider: town facilities, Parks master planning, neighborhood pocket parks, public
art.
There being no further business, Chair Heiser adjourned the meeting at 11:03 a.m.
Karin Swanlund, Recording Secretary
draft
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Workforce Housing and Childcare
Ad-Hoc Task Force
Final Report
6/11/2019
Submitted by:
Trustee Carlie Bangs
Trustee Ron Norris
Assistant Town Administrator Travis Machalek
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Table of Contents
Executive Summary ........................................................................................................................ 3
Background ..................................................................................................................................... 4
Purpose ........................................................................................................................................ 4
Process ........................................................................................................................................ 4
Foundational Documents ............................................................................................................ 5
Evaluation Criteria ...................................................................................................................... 5
Public Engagement ......................................................................................................................... 6
Process ........................................................................................................................................ 6
Key Themes ................................................................................................................................ 7
Workforce Housing ......................................................................................................................... 8
The Problem ................................................................................................................................ 8
Key Themes ................................................................................................................................ 8
Summary of Recommended Town Role ..................................................................................... 9
Recommendation #1 – Establish Role Clarity .......................................................................... 10
Recommendation #2 – Provide Financial Support ................................................................... 10
Recommendation #3 – Adapt the Estes Valley Development Code (EVDC) .......................... 12
Recommendation #4 – Utilize Town-Owned Land .................................................................. 13
Recommendation #5 – Ensure Accountability ......................................................................... 14
Childcare ....................................................................................................................................... 14
The Problem .............................................................................................................................. 14
Key Themes .............................................................................................................................. 14
Summary of Recommended Town Role ................................................................................... 16
Recommendation #1 – Coordinate Community Efforts ........................................................... 16
Recommendation #2 – Provide Financial Support ................................................................... 17
Recommendation #3 – Utilize Town-Owned Land .................................................................. 18
Recommendation #4 – Ensure Accountability ......................................................................... 18
Not Recommended at this Time ................................................................................................... 19
Workforce Housing ................................................................................................................... 19
Childcare ................................................................................................................................... 19
Conclusion .................................................................................................................................... 19
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Executive Summary Background
The Town Board created the Workforce Housing and Childcare Ad-Hoc Task Force
(Task Force) on November 13, 2018 to evaluate the Town’s role in the issues of
workforce housing and childcare, and to develop recommendations for consideration by
the Town Board. To develop its recommendations, the Task Force reviewed past studies,
plans, and recommendations; developed criteria for evaluating potential actions;
conducted a comprehensive public engagement process; and created a list of options for
Town involvement for both childcare and workforce housing.
Public Engagement
The Task Force completed a comprehensive public engagement campaign consisting of
meetings with stakeholders, three focus groups with a total of roughly 20 people, a large
community meeting, and an open dedicated email address. Combined, the Task Force had
face-to-face contact with approximately 100 people. Everyone who participated in the
public engagement process was both receptive and up-front with their opinions, creating
numerous high-quality discussions.
Evaluation Criteria
The Task Force agreed on evaluation criteria after recognizing the need to review all of
the potential opportunities for Town involvement in these issues using the same general
frame. Three criteria were agreed upon:
1. Is the action administratively feasible?
2. Is the action politically acceptable?
3. Is the action measurable and consistent with the Strategic Plan Outcome Areas?
Workforce Housing Recommendations
1. Establish Role Clarity
A. Establish Workforce Housing Guidelines
B. Participate in Workforce Housing Strategic Planning Effort
2. Provide Financial Support
A. Establish One-Time Reserve
B. Increase Ongoing Support for Utility Tap Subsidies
C. Consider Future Dedicated Funding as Financial Needs Become Clear
3. Adapt the Estes Valley Development Code (EVDC)
A. Prioritize Proposed EVDC Amendments that Impact Housing
B. Incentivize Downtown Housing
C. Implement the Downtown Plan
D. Ensure that the Comprehensive Plan Considers Workforce Housing
4. Utilize Town-Owned Land
A. Work with 3rd Party to Develop Fish Hatchery Property
B. Re-evaluate Dry Gulch Property for Less-Dense Housing
C. Begin Land-Banking for Workforce Housing
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5. Ensure Accountability
A. Designate the Assistant Town Administrator as Point Position
B. Incorporate Workforce Housing into the Strategic Plan
Childcare Recommendations
1. Coordinate Community Efforts
A. Convene Leaders of Local Childcare Capacity Efforts
B. Participate in County Strategic Plan Childcare Capacity Team
2. Provide Financial Support
A. Develop Childcare Funding Policy
B. Establish One-Time Reserve
C. Direct Ongoing Funding to Growing Infant/Toddler Capacity
D. Establish Capital Grant Pool to Incentivize New Infant/Toddler Capacity
3. Utilize Town-Owned Land
A. Create a List of Town-Owned Property Suitable for Childcare Facilities
B. Begin Land-Banking for Childcare Facilities
4. Ensure Accountability
A. Designate the Assistant Town Administrator as Point Position
B. Incorporate Childcare into the Strategic Plan
Conclusion
With the submittal of these recommendations, the Task Force’s job is complete. The
Town Board must now decide which of the recommendations contained in this report
should be implemented. For a quick look at how each recommendation can be
operationalized, see Appendix A. Background Purpose
The Ad-Hoc Workforce Housing and Childcare Task Force (“Task Force”) was formed
November 13, 2018 by the Town Board of Trustees (Resolution #24-18) to develop
recommendations for the Board on the Town’s role related to workforce housing and childcare.
The Task Force was directed to focus on strategies and tactics that could be utilized by the Town
to address availability and affordability concerns in both housing and childcare.
Process
The process used by the Task Force to develop recommendations can be divided into four steps:
1. Reviewed Foundational Documents (existing recommendations from community groups
and studies);
2. Developed an initial “long list” of potential Town actions to evaluate for each issue;
3. Engaged with the community to get additional feedback on workforce housing and
childcare; and
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4. Utilized agreed-upon evaluation criteria and feedback from engagement efforts to edit
the long list of recommendations down to final recommendations.
Foundational Documents
The following documents were used as a starting point for the Task Force’s work:
• Town of Estes Park Strategic Plan (2019)
• Stanley Park Master Plan (2019)
• Childcare Needs Assessment (2018)
• Family Advisory Board Recommendations to Town Board (2018)
• National Citizen Survey Community Livability Report (2018)
• Housing Needs Assessment (2016)
• Avalanche Economic Development Strategy (2015)
Evaluation Criteria Summary
The Task Force agreed on evaluation criteria after recognizing the need to review all of
the potential opportunities for Town involvement in these issues using the same general
frame. Three criteria were agreed upon:
1. Is the action administratively feasible?
2. Is the action politically acceptable?
3. Is the action measurable and consistent with the Strategic Plan Outcome Areas?
Administrative Feasibility
Is the action administratively feasible? This criterion focuses on whether the Town has
the resource flow and skills necessary to carry out the action. For example, providing
utility fee subsidies from the General Fund is administratively feasible; running a
childcare tuition assistance program on a large scale is not.
Political Acceptability
Is the action politically acceptable? This criterion focuses on whether or not a particular
action is acceptable to the community and a majority of the Town Board. For example,
developing Workforce Housing Guidelines is probably politically acceptable; raising the
height limit to four stories throughout Town is likely not.
Measurability and Consistency with Strategic Plan
Is the action measurable and consistent with the Strategic Plan Outcome Areas? This
criterion is intended to ensure that the Town is able to track progress on
recommendations and know when they are completed and how effective they were at
achieving their purpose. It is also intended to ensure that any recommendations fit within
the Town Board’s Strategic Plan
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Public Engagement Process Summary
The Task Force used multiple methods to engage with the public and collect feedback on
the Town’s role with regard to workforce housing and childcare. Outreach was conducted
through articles from the Task Force, social media posts, updates at public meetings, a
web page with electronic resources, and one-on-one networking with community
stakeholders. Below is a list of the different methods the Task Force used to gather
feedback:
• Stakeholder Meetings (16 entities)
• Focus Groups (~20 people over three focus groups)
• Targeted Outreach to Business Community
• Community Meeting with recording on webpage
• Dedicated Email Stakeholder Meetings
The Task Force met with the following groups in the initial phase of outreach:
Organization Reason for Meeting
Communities that Care (Larimer County) Working on childcare
Estes Area Lodging Association Organization of employers
Estes Early Childhood Education, Inc. Working on childcare
Estes Park Economic Development Corporation Organization of employers
Estes Park Health Critical-service employer
Estes Park Housing Authority Working on workforce housing
Estes Park Sanitation District Critical-service employer
Estes Park School District R-3 Critical-service employer
Estes Valley Fire Protection District Critical-service employer/volunteers
Estes Valley Investment in Childhood Success Working on childcare
Estes Valley Partners for Commerce Organization of employers
Estes Valley Recreation and Park District Major taxing district employer
Estes Valley Library Major taxing district employer
Restorative Justice Work experience with impact of issues
Upper Thompson Sanitation District Critical-service employer
YMCA of the Rockies Nonprofit childcare provider
These groups directly employ approximately 2,197 people (705 year-round employees
and 1,492 seasonal/volunteers). They were selected based on their status as critical-
service employers, an organization of employers in the community, or their work on
workforce housing and or childcare.
Focus Groups
Focus groups were used by the Task Force in an effort to collect diverse and highly-
detailed viewpoints from the public, scheduled based on the availability of the interested
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individuals. Russ Nehrig, a volunteer with the Estes Valley Restorative Justice
Partnership who has a professional background in running focus groups for corporate
clients, coordinated three focus groups for the Task Force. Two of these groups were
composed of volunteers responding to a public call for participation and one was made up
of residents recruited by Mr. Nehrig. This format was effective in getting detailed and
complex feedback and opinions from the community, and the Task Force would advocate
its use in the future for similar issues.
Targeted Outreach to Business Community
The Task Force used direct email invitations sent through the Estes Valley Partners for
Commerce and the Estes Area Lodging Association to specifically target the general
business community for feedback. Despite this effort, the number of responses received
from individual business owners was disappointingly small. The Task Force suggests
more effort be expended on an ongoing basis to engage with these stakeholders to
understand their challenges and the unique ways they adjust to the difficulty of hiring and
retaining quality employees. The few individual conversations that took place with local
business owners were incredibly valuable in seeing how employers are adapting.
Community Meeting
A large community meeting was held May 22, 2019. The Task Force gave a short
presentation before asking attendees (roughly 50) to write their thoughts, questions, and
reactions to the presentation of draft recommendations on Post-It® notes. These notes
were then placed on sticky pads that referenced each category of recommendation. The
145 comments received through this exercise are representative of the wide range of
suggestions the Task Force received from the other public engagement efforts, and can be
reviewed in Appendix B.
Dedicated Email
A dedicated email address was made available for the duration of the Task Force’s work.
The email was publicized in press releases and on the Task Force’s website landing page.
Fifteen emails were received in total.
Key Themes Crisis…
The lack of availability and affordability of workforce housing and childcare are at crisis
levels. The Task Force heard from multiple large employers who indicated high turnover
rates, difficulty attracting talent, and numerous anecdotal stories indicating the severity of
these issues. A sampling of these stories is included in the key learnings of the workforce
housing and childcare sections of this report.
…But Not Everywhere
While the Task Force heard from many major employers and individuals that workforce
housing and childcare were crisis-level issues, that characterization was not uniform.
Some smaller critical-service employers indicated that these issues are not a large
problem for them presently as they have small, long-serving staff who are rooted in the
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community. These long ties and lack of turnover appear to have sheltered these
employers from the impact seen by larger employers with more frequent turnover.
Wide-Spectrum of Views
It would be a mistake to assume that the community is divided into solely two camps (pro
and con) on either workforce housing or childcare. The Task Force’s engagement
experience indicates a wide spectrum of thoughts and opinions on these issues that do not
break down into easily definable groups.
Opportunities for Partnership
Throughout the public engagement process numerous organizations offered support to
help with future engagement efforts. Specifically, the Estes Valley Library, the League of
Women Voters, and Restorative Justice have indicated a willingness and ability to help
with future outreach and education efforts. Additional/Ongoing Engagement Needed
Lastly, and perhaps most important, the public engagement effort identified a strong need
for additional and ongoing engagement and education. More robust feedback from the
business community should be a priority, as should engagement efforts around balancing
the needs of workforce housing with concerns about density negatively impacting quality
of life in the Valley.
Workforce Housing The Problem
Concerns about the affordability and availability of housing in Estes Park are widespread. Only
7% of the respondents to the National Citizen Survey rated “Affordable quality housing”
positively and only 11% rated “Housing options” positively (e.g., excellent/good).1 The
summary of housing needs in the Housing Needs Assessment indicated a range of 1,480 to 1,690
new units needed through 2020.2 A partial corroboration of the need indicated by the Housing
Needs Assessment is the wait list maintained by the Estes Park Housing Authority, currently
holding at roughly 425 people.
Key Themes Crisis
A sense of crisis emerged from the Task Force’s review of the data and public
engagement process. Multiple large employers indicated that workforce housing was
directly related to increased turnover and difficulty in hiring and retaining employees. In
addition to the quantitative data above, numerous impactful anecdotal stories were
relayed to the Task Force. A few startling examples from the engagement effort will
suffice:
1 National Research Center Inc., Estes Park Community Livability Report (2018), 4.
2 Rees Consulting Inc. and WSW Consulting, Estes Park Area Housing Needs Assessment (2016), 90.
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• People camping in the National Forest all summer because they cannot find
housing.
• An employee sharing a bathroom with eight (8) other roommates.
• A crowded hotel room with up to 12 people living together.
• Multiple employers indicating that they have lost staff, and have had good
candidates withdraw from consideration, due to housing availability.
Multifaceted Housing Needs
Workforce housing is not a homogenous designation. Within that overarching term are a
number of clearly-definable segments with differing needs. The primary two segments
identified by the Task Force are: (1) year-round workforce housing needs (e.g. nurses,
police officers, utility workers) and (2) seasonal workforce housing needs (e.g. time-
limited expanded staffing required for guest services). These segments can be further
broken down along income (anywhere from 40% to 150%+ of the Area Median Income)
and housing preferences (e.g. Rent vs. Own, Short-Term vs. Long-Term, and Single
Family vs. Apartments vs. Duplexes, etc.).
Business Owner Efforts
Many local business owners are taking steps to address their workforce housing
challenges. The Task Force spoke to, or heard of, at least four businesses/organizations
that have purchased homes or property to house their employees. A recurring sentiment
during the public engagement period was a belief that businesses should solve their own
problems and not expect assistance from the government. In at least a few cases, they are.
Diverse Community Opinions
Residents of the Estes Valley have a wide range of opinions about the Town’s role in
addressing workforce housing issues. Feedback ranged from opinions that any Town
involvement in workforce housing would be an unacceptable transfer of public money
into private hands, to a belief that the Town should build and operate workforce housing.
Balance
The need to balance workforce housing developments with other community values is a
widely-held opinion. Many who supported workforce housing also indicated their belief
that these developments should be carefully developed to maintain the character of the
community. They indicated a desire to see workforce housing that has the appropriate
look and feel in relation to surrounding neighborhoods and the community as a whole.
Summary of Recommended Town Role
A full 90% of respondents supported “Town sponsored solutions for workforce housing issues
(codes, funding, land)” (54% in favor of increasing service, 36% in favor of keeping current
service level).3 Clarity of roles has been a major barrier to an organized and aligned approach to
addressing workforce housing. Numerous entities (including the Town) have taken steps to
3 National Research Center Inc., Estes Park Community Livability Report (2018), 10.
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increase the number of available workforce housing units, but these actions have not been
happening in a coordinated or systemic way.
Collectively, the Task Force recommendations on workforce housing serve to drive clarity on
roles and objectives among the community stakeholders working to address the availability and
affordability of housing. They do this by communicating the role that the Town intends to fill
with regard to workforce housing (Establish Workforce Housing Guidelines and Participate in a
Workforce Housing Strategic Plan). With this role communicated, the Town can work with other
entities to determine where the gaps in our community efforts to address workforce housing are
located as well as who should fill those gaps.
Recommendation #1 – Establish Role Clarity Summary
The Town has the opportunity to drive community-wide role clarification with regard to
workforce housing by establishing its own role. The Town should formalize this role and
promote it during workforce housing strategic plan conversations.
(A) Establish Workforce Housing Guidelines
The Task Force recommends developing, adopting, and publishing Workforce Housing
Guidelines (WHG). These guidelines would include:
• Town definition of “workforce housing” that considers both income (percentage
of Area Median Income) and work requirements;
• Clearly articulated Town role (comprised of recommendations contained in this
report that are adopted by the Town Board);
• Identification of Town priority segments (income, housing type, etc.); and
• Plain-language explanation of regulations and incentives.
The other Task Force recommendations contained in this report, if adopted, will be
integrated into the WHG as the cornerstone of the Town’s role in this issue.
(B) Participate in Workforce Housing Strategic Planning Effort
The Task Force recommends using the WHG to participate in a Strategic Planning effort
led by a separate entity (ideally, the Estes Park Housing Authority). During this process,
the Town should push for role clarification among all parties, gap identification (what
income levels and needs are not being served), and hard-number goals and objectives.
Recommendation #2 – Provide Financial Support Summary
The amount of financial support required from the Town will depend on the role the
Board chooses to play. For the purposes of these recommendations, the Task Force is
recommending a two-pronged approach to providing financial support that is composed
of a reserve for large, unanticipated, one-time expenditures as well as ongoing financial
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support dedicated to utility fee subsidies that can be budgeted annually. The Workforce
Housing Guidelines should guide any Town financial allocations to workforce housing.
(A) Establish One-Time Reserve
The Task Force recommends that the Town Board begin accumulating funds to make
one-time investments in workforce housing by building a Board-restricted General Fund
balance with an initial target of an additional 5% fund balance to use for both workforce
housing and childcare (would bring total General Fund balance to 25%). This would
equate to roughly $950,000 using 2019 expenditures as a base. Many of the one-time
investments envisioned by the Task Force are difficult, if not impossible, to anticipate.
These opportunities include supporting project-specific funding requests from the Estes
Park Housing Authority, land-purchase opportunities, and large utility tap fee subsidy
requests beyond the scope of the annual tap fee subsidy allocation.
Taking advantage of these opportunities when they arise will require an earmarked
reserve. The amount of funding will vary depending on the specific role the Town Board
chooses to play (for example, if the Board decides to begin land-banking, the reserve will
likely need to be higher than if it decides to just assist with project-specific funding
requests).
The Fund-Balance Reserve mechanism works by budgeting for fund-balance growth
during the annual budget process and designating that extra fund balance specifically for
unanticipated one-time investments in workforce housing. An example would look like
this:
• 2019
o Town Board amends Policy 660 – Fund Balance to establish an additional
5% General Fund balance in 2019.
o Town staff creates 2020 budget with a structural surplus (more revenues
than expenditures) to be dedicated to one-time workforce housing
investments.
• 2020
o As the 2020 budget is executed, excess revenues flow into fund balance
and increase the fund balance level
o This extra fund balance is specifically designated as the Board’s
workforce housing reserve.
o The fund balance reserve may be used by appropriation from the Board,
following the Workforce Housing Guidelines. It is replenished and can be
grown (or reduced) through the budget process.
(B) Increase Ongoing Support for Utility Tap Subsidies
The Task Force recommends increasing the ongoing budget funding for utility tap
subsidies for workforce housing projects to $50,000. In 2018, the Town budgeted
$20,000 for utility tap subsidies, only enough for a 50% subsidy for roughly four units.
Expanding these funds will allow the Town Board to support workforce housing
developments constructed by other entities. The utility tap subsidies should be included
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in the incentives section of the Workforce Housing Guidelines and should be marketed to
developers.
(C) Consider Future Dedicated Funding as Financial Needs Become Clear
The Town does not have a long or consistent history of providing financial support to
workforce housing projects. As such, it is unclear what the true ongoing financial needs
of this effort will be. A more realistic estimate of the funding needs of this effort will be
possible once the Town has solidified its role and accumulates a few years of financial
requests for reference. These estimates can inform future conversations about the need
for dedicated funding streams.
Recommendation #3 – Adapt the Estes Valley Development Code (EVDC) Summary
Planning and Zoning regulations are among the most powerful tools the Town has to
address the lack of affordable and available workforce housing. They are also among the
most controversial. Public engagement and recent history indicate that there is a great
deal of concern about density, especially in relation to workforce housing developments.
The implementation of any recommendation in this section must consider the balance
between the need for more workforce housing and the need to protect the characteristics
that make the Estes Valley a great place to live.
(A) Prioritize Proposed EVDC Amendments that Impact Housing
The Task Force recommends continuing progress on the Master List of Proposed
Amendments to the EVDC presented to the Town Board on May 9, 2017. As there are a
sizable number of amendments on that list, the Task Force recommends prioritizing any
amendments that impact the ability to construct workforce housing. The first step in this
process would be a discussion between Community Development Department staff and
the Estes Valley Planning Commission on this prioritization.
(B) Incentivize Downtown Housing
Downtown is an appropriate location for increased housing density. The Task Force
recommends encouraging the development of workforce housing Downtown by adopting
the height increase recommendations contained in the Downtown Plan 4 and by amending
the EVDC to facilitate private redevelopment.
(C) Implement the Downtown Plan
As Downtown is a high-opportunity area for workforce housing, the Task Force also
recommends that the Town Board formalize an implementation plan for the Downtown
Plan. While increasing the height limit and updating redevelopment-related EVDC items
would facilitate more workforce housing Downtown, the implementation of the
Downtown Plan will help to make it a vibrant and desirable place to live. Therefore, the
Task Force supports the inclusion of the following draft 2020 Board Objective in the
Robust Economy Outcome Area: “4.1 Determine the strategic direction, financial options
and leadership responsibility for implementation of the Downtown Plan”.
4 Town of Estes Park, Estes Park Downtown Plan (2018), 38-39.
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(D) Ensure that the Comprehensive Plan Considers Workforce Housing
Workforce housing issues must be a major consideration in the upcoming Comprehensive
Plan process. The Task Force recommends that, in addition to a general consideration of
maintaining a vibrant community with a diverse mix of housing opportunities, the
following items be specifically addressed:
• Vacation Rentals
• Accessory Dwelling Units (attached and detached) for long-term rentals
• Consideration of areas where increased density is, and is not, appropriate
Recommendation #4 – Utilize Town-Owned Land Summary
The Town owns two parcels of land that are suitable for constructing workforce housing.
Many of the large parcels owned by the Town are subject to restrictions or site conditions
that make the development of workforce housing impractical or impossible.
(A) Work with 3rd Party to Develop Fish Hatchery Property
Initial plans to develop the Fish Hatchery property with high-density workforce housing
failed to materialize, in part due to infrastructure challenges identified by AmericaWest
Housing Solutions based on its proposed density for the site. The Task Force has
determined that less-dense development may still be feasible, and is therefore
recommending that the Town Board reconsider previously submitted proposals for the
Fish Hatchery property that contain more realistic density levels. This is also consistent
with the community’s need for a variety of housing options, including small single-
family homes, duplexes, etc. (not just RM apartment-style units).
(B) Re-Evaluate Dry Gulch Property for Less-Dense Housing
Initial plans to develop the Dry Gulch property fell through due to parcel-access issues
and concerns from the neighborhood about an Open Space designation (erroneously
applied by previous Community Development staff). The Task Force recommends that
the Town re-evaluate this property for less-dense housing (such as townhomes or
duplexes). The parcel may also be appropriate for space for a childcare center or a public
park.
(C) Begin Land-Banking for Workforce Housing
More developable Town-owned land will be required if the Town takes on the role of
catalyzing housing developments by providing land. Accordingly, the Task Force
recommends that the Town begin a land-banking program to acquire suitable properties
for future development or redevelopment. Any land acquisition should be informed and
guided by the Workforce Housing Guidelines to ensure it is appropriate for the type of
workforce housing the Town has prioritized. The Town should also coordinate and
cooperate with the Estes Valley Land Trust to ensure that the need for developable land
for workforce housing is balanced with the need to preserve open space in the Estes
Valley. First steps in this process would be Town-participation in the Open Space and
19
Outdoor Recreation Plan and a Study Session with the Land Trust to discuss the topic
more generally.
Recommendation #5 – Ensure Accountability Summary
Maintaining a Town focus on workforce housing will require that the topic be structurally
incorporated into the Town’s operations. The two primary methods of accomplishing this
are designating a staff position to execute the Town’s role in workforce housing and
incorporating workforce housing into the Town Board’s Strategic Plan.
(A) Designate the Assistant Town Administrator as Point Position
The Task Force recommends that execution of the Town’s role in workforce housing be
added to the job description of the Assistant Town Administrator. Placing these
responsibilities in the Town Administrator’s Office will enable full coordination between
various Town departments and outside entities.
(B) Incorporate Workforce Housing into the Strategic Plan
The Task Force recommends including the following Strategic Policy Statement in the
2020 Strategic Plan: “We will assist in increasing the amount and diversity of housing
solutions for underserved segments of our community”. All other Strategic Plan items
related to workforce housing will fall under this Strategic Policy Statement.
Childcare The Problem
The lack of availability of infant and toddler care in the Estes Valley is at a crisis level, and has
been getting worse for several years. The Childcare Needs Assessment completed in 2018
revealed that there are only 12 licensed spots for infants and toddlers (age 0 to 2 ½) in the Estes
Valley.5 Responses to the Parent survey conducted as part of the needs assessment indicated that,
for households with infants/toddlers, finding care for an infant was the biggest childcare
utilization challenge for 54% of respondents.6 Perhaps the most shocking result from the Parent
survey was the fact that 80% of responding households with infants/toddlers would change some
aspect of their childcare arrangement.7
Key Themes Crisis
A sense of crisis emerged from the Task Force’s review of the data and public
engagement process. In addition to the data used above to describe the problem with
childcare in the Estes Valley, numerous impactful anecdotal stories were relayed to the
Task Force. A few startling examples will suffice:
5 BBC Research and Consulting, Estes Valley Childcare Needs Assessment (2018), I-6.
6 Ibid, II-13.
7 Ibid, II-10.
20
• A woman unexpectedly became guardian to her two grandchildren (two and
three) and was unable to find childcare so her own teenage daughter was missing
high school in order to provide care for the younger children.
• A local licensed provider was shut down by the State for exceeding the legal
number of children under two years of age they could care for (impacted care for
seven children two-years-old or younger).
• EVICS has been inundated with phone calls from people looking for daycare. In
one week alone, they received calls from four families looking for care for their
infants and toddlers. They have no place to send these families as all of the infant
and toddler spots they are aware of are full.
Market Struggles
The Estes Valley is a difficult market for childcare providers. According to the needs
assessment, average Estes Valley childcare prices are between 70% and 85% of statewide
market rates.8 Despite this, 43% of Estes Valley parents with children ages six or younger
do not regularly use non-parent childcare providers and cite affordability (29%) and not
being able to find/get into quality care (20%) as the top two barriers.9 The tightly limited
ratios for caring for infants/toddlers and the low revenue for childcare providers in the
Estes Valley are likely part of the reason for the shortage in infant and toddler care.
Efforts Underway
There are local efforts underway to build new childcare capacity in the Estes Valley.
These efforts include Estes Early Childhood Education, Inc. discussions about a new
Childcare District (enabled by State legislation passed in 2019), conversations about
supporting existing providers, and discussions on how to encourage more licensed family
home childcare capacity. The Town’s own Family Advisory Board played a key role in
these efforts by identifying obstacles and making recommendations to the Town Board
on how to address them.
Low Community Awareness
Unlike workforce housing, there did not appear to be a widespread awareness of the
issues associated with childcare in the Estes Valley. Efforts to address this issue will
likely run into community awareness as a barrier; the Town involvement should plan for
a high-degree of education and public engagement around any implementation of the
recommendations contained in this report.
Early Childhood Education
Childcare quality was a consistent theme throughout the Task Force engagement efforts.
The term “early childhood education” was frequently used to describe the desired type of
childcare in the community. This is a critical distinction for some people as they associate
the term “childcare” with low-quality “warehousing” of children. For the purposes of this
report, childcare is used to refer to high-quality early childhood education. The Task
8 Ibid, IV-9.
9 Ibid, II-13.
21
Force firmly believes that this care can happen in a variety of contexts, and that it is
critical to addressing the needs of our community. Summary of Recommended Town Role
Town involvement (specifically financing) in childcare initiatives was supported by 44% of
respondents to the 2018 Citizen’s Survey (39% recommended keeping current service level – i.e.
funding for EVICS).10 While not as robust as the percentage of respondents favoring Town
intervention in workforce housing issues, support for some level of Town involvement in
childcare is significant. Additionally, 56% of the 46 employer responses to the Needs
Assessment Employer Survey indicated that reliable and affordable childcare is one of the more
serious problems in the Estes Valley.11
The Task Force recommendations, when taken together, will put the Town’s focus on addressing
the most critical gap in childcare in the Estes Valley; infant and toddler care. This will be
accomplished by coordinating community efforts on childcare, providing ongoing and one-time
financial support, and exploring ways to leverage Town-owned property to address this issue.
Recommendation #1 – Coordinate Community Efforts Summary
The Task Force is aware of two primary local groups working on childcare capacity in
the Estes Valley: Estes Early Childhood Education, Inc. and Estes Valley Investment in
Childhood Success. It is vital that these efforts be coordinated and aligned in order to
leverage the most value from each individual organization’s effort, and to simplify
working with Larimer County on it’s Strategic Plan objective related to childcare.
(A) Convene Leaders of Local Childcare Capacity Efforts
The Town should convene leaders of local efforts and facilitate conversations to agree on
an aligned and coordinated approach to building childcare capacity in the Estes Valley.
These conversations will clarify roles and develop a shared vision and plan for addressing
the most pressing childcare needs in the community.
(B) Participate in County Strategic Plan Childcare Capacity Team
The Larimer County 2019-2023 Strategic Plan established an objective to “…work
collaboratively with public and private entities to increase capacity for child care so
that at least one licensed child care spot in family child care homes, child care centers or
preschool settings exists for every 1.5 children in the community.”12 The Task Force
recommends that the Town continue to serve on the Objective Team for this goal to
ensure that the interests of the Estes Valley are represented in the solutions developed.
10 National Research Center Inc., Estes Park Community Livability Report (2018), 10.
11 BBC Research and Consulting, Estes Valley Childcare Needs Assessment (2018), III-5.
12 Larimer County Strategic Plan: 2019 – 2023. Goal 2, Objective 3.
22
Recommendation #2 – Provide Financial Support Summary
Aside from providing annual Base Funding to Estes Valley Investment in Childhood
Success (EVICS) the Town has not provided funding for childcare efforts. Due to the
growing problem, and attention on the problem, the Task Force anticipates the Town will
receive requests for funding for childcare investments in the near future. Guidelines will
be needed for evaluating these requests and resources will be needed for funding them.
The Task Force recommends the same two-pronged approach to providing financial
support to childcare as it did for workforce housing. This approach consists of a reserve
for large, unanticipated, one-time expenditures as well as ongoing budgeted financial
support dedicated to growing infant/toddler childcare capacity.
(A) Develop Childcare Funding Policy
The Town should develop and adopt a funding policy to guide future Town investments
in childcare capacity. The policy should include qualification criteria, evaluation
guidelines, a preference for matching funds, and specific consideration of milestone-
based distributions. The Task Force recommends that the Funding Policy prioritize
increasing infant and toddler childcare capacity.
(B) Establish One-Time Reserve
The Task Force recommends that the Town Board begin accumulating funds for one-time
investments in childcare capacity by building Board-restricted General Fund balance with
an initial target of an additional 5% fund balance to utilize for both childcare and
workforce housing (would bring total General Fund balance to 25%). This would equate
to roughly $950,000 using 2019 expenditures as a base. These one-time investments may
include supporting project-specific funding requests, land- or facility-purchase
opportunities, and large utility tap fee subsidy requests for new facilities beyond the
scope of the annual tap fee subsidy allocation.
Taking advantage of these opportunities when they arise will require an earmarked
reserve. The amount of funding will vary depending on the specific role the Town Board
chooses to play (for example, if the Board decides to begin land-banking, the reserve will
likely need to be higher than if it decides to just assist with project-specific funding
requests).
The Fund-Balance Reserve mechanism works by budgeting for fund-balance growth
during the annual budget process and designating that extra fund balance for
unanticipated one-time investments in childcare capacity. An example would look like
this:
• 2019
o Town Board amends Policy 660 – Fund Balance to establish an additional
5% fund balance in 2019.
o Town staff creates 2020 budget with a structural surplus (more revenues
than expenditures) to be dedicated to one-time childcare capacity
investments.
• 2020
23
o As the 2020 budget is executed, excess revenues flow into fund balance
and increase the fund balance level
o This extra fund balance is specifically designated as the Board’s childcare
capacity reserve.
o The fund balance reserve may be used by appropriation from the Board. It
is replenished and can be grown (or shrunk) through the budget process.
(C) Direct Ongoing Funding to Growing Infant/Toddler Capacity
The Task Force recommends working with EVICS to direct the Town’s ongoing funding
to support growing infant/toddler capacity. The Town should assist EVICS with
developing and funding programs and policies that increase the availability of high-
quality infant/toddler care capacity in the Estes Valley.
(D) Establish Capital Grant Pool to Incentivize New Infant/Toddler Capacity
The Task Force recommends creating a $15,000 capital grant pool in the 2020 budget
that will assist with upgrades needed to start up new facilities that serve infants and
toddlers. This program should be developed in partnership with EVICS and the Early
Childhood Council of Larimer County.
Recommendation #3 – Utilize Town-Owned Land Summary
Development costs are a major impediment to creating high-quality, affordable childcare.
A significant contributor to those costs in the Estes Valley is the cost of land on which to
build. The Town can help catalyze projects by providing the land on which they can be
built, removing a large, up-front development cost.
(A) Create a List of Town-Owned Property Suitable for Childcare Facilities
The Task Force recommends that the Town develop a list of Town-owned parcels upon
which a childcare facility could be built. The base of this list exists now -- all that is
needed is a thorough review of relevant easements and deed restrictions. Once completed,
the Town should work with EVICS to market this list to potential childcare providers.
(B) Begin Land-Banking for Childcare Facilities
The Task Force recommends any land-banking program created by the Town should
consider acquisition of land and properties suitable for childcare. The Town should
coordinate and cooperate with the Estes Valley Land Trust to ensure that the need for
developable land for childcare is balanced with the need to preserve open space in the
Estes Valley.
Recommendation #4 – Ensure Accountability Summary
Maintaining a Town focus on childcare will require that the topic be structurally
incorporated into the Town’s operations. The two primary methods of accomplishing this
24
are designating a staff position to execute the Town’s role in childcare and incorporating
childcare into the Town Board’s Strategic Plan.
(A) Designate the Assistant Town Administrator as Point Position
The Task Force recommends that execution of the Town’s role in childcare be added to
the job description of the Assistant Town Administrator. Placing these responsibilities in
the Town Administrator’s Office will enable full coordination between various Town
departments and outside entities.
(B) Incorporate Childcare into the Strategic Plan
The Task Force recommends including the following Strategic Policy Statement in the
2020 Strategic Plan: “We will work with community partners to grow infant and toddler
childcare capacity in the Estes Valley”. All other Strategic Plan items related to childcare
will fall under this Strategic Policy Statement. Not Recommended at this Time Workforce Housing
• Build and/or operate workforce housing for the community
• Lead workforce housing efforts
• Lead the development of a Workforce Housing Strategic Plan
• Guarantee that new development provides workforce housing
o Commercial Linkage Program
o Inclusionary Zoning
• Develop and implement no-net-loss provisions
• Hire a Housing Coordinator
Childcare
• Operate childcare
• Provide five acres in Stanley Park for a future childcare facility
• Operate a childcare scholarship fund for individuals in the community Conclusion Next Steps
The Task Force recommends the following next steps for consideration of the recommendations
in this report:
• June 11th Study Session Discussion
• Action Item at July 9th Town Board Meeting (Consideration of Acceptance of Report)
o Public Comment
• Integration with Town Board action on adopting 2020 Strategic plan
Town Board should discuss and agree on which of the recommendations contained in this report
should be implemented. Once these decisions are made, the implementation guide (Appendix A)
may be used to integrate the recommendations into the Town organization.
25
Use of Ad-Hoc Task Force Mechanism
The Ad-Hoc Task Force mechanism has been an efficient and effective way to quickly engage
the public and develop quality recommendations for the Town Board. The size (three members)
and composition (mix of Trustees and staff) has proven to be a potent combination for delivering
results. The Task Force would highly recommend the use of the Ad-Hoc Task Force model in the
future for similar issues as they arise.
Dissolution of the Ad-Hoc Task Force
With the submittal of this report, the task assigned to the Task Force by the Town Board by
Resolution #24-18 is complete. Pursuant to Policy 102, Section 4.a.i(4) the Task Force is hereby
dissolved, effective upon delivery of this report to the Town Board.
26
Recommendation Target Year Integration Mechanism Outcome Area/Responsible Party Classification
Workforce Housing
1 -Establish Role Clarity
A Establish Workforce Housing Guidelines 2019 Strategic Plan Outstanding Community Services Objective
B Participate in Workforce Housing Strategic Planning Effort 2020 Strategic Plan Outstanding Community Services Objective
2 -Provide Financial Support
A Establish One-Time Reserve 2020 Strategic Plan Outstanding Community Services Goal
B Increase Ongoing Support for Utility Tap Subsidies 2019 Strategic Plan Outstanding Community Services Objective
C Consider Future Dedicated Funding as Financial Needs Become Clear -Operational Town Administrator's Office -
3 -Adapt the Estes Valley Development Code (EVDC)
A Prioritize Proposed EVDC Amendments that Impact Housing 2020 Strategic Plan Outstanding Community Services Policy Statement
B Incentivize Downtown Housing 2020 Strategic Plan Outstanding Community Services Goal
C Implement the Downtown Plan 2020 Strategic Plan Outstanding Community Services Goal
D Ensure that the Comprehensive Plan Considers Workforce Housing 2019 Operational Community Development Staff -
4 -Utilize Town-Owned Land
A Work with 3rd Party to Develop Fish Hatchery Property 2020 Strategic Plan Outstanding Community Services Objective
B Re-Evaluate Dry Gulch Property for Less-Dense Housing 2020 Strategic Plan Outstanding Community Services Objective
C Begin Land-Banking for Workforce Housing 2020 Strategic Plan Outstanding Community Services Policy Statement
5 -Ensure Accountability
A Designate the Assistant Town Administrator as Point Position 2019 Operational Town Administrator's Office -
B Incorporate Workforce Housing into the Strategic Plan 2020 Strategic Plan Outstanding Community Services Policy Statement
Childcare
1 -Coordinate Community Efforts
A Convene Leaders of Local Childcare Capacity Efforts 2019 Operational Assistant Town Administrator -
B Participate in County Strategic Plan Childcare Capacity Team 2019 Strategic Plan Outstanding Community Services Goal
2 -Provide Financial Support
A Develop Childcare Funding Policy 2019 Strategic Plan Outstanding Community Services Objective
B Establish One-Time Reserve 2020 Strategic Plan Outstanding Community Services Goal
C Direct Ongoing Funding to Growing Infant/Toddler Capacity 2020 Strategic Plan Outstanding Community Services Policy Statement
D Establish Capital Grant Pool to Incentivize New Infant/Toddler Capacity 2020 Strategic Plan Outstanding Community Services Objective
3 -Utilize Town-Owned Land
A Create a List of Town-Owned Property Suitable for Childcare Facilities 2020 Strategic Plan Outstanding Community Services Objective
B Begin Land-Banking for Childcare Facilities 2020 Strategic Plan Outstanding Community Services Policy Statement
4 -Ensure Accountability
A Designate the Assistant Town Administrator as Point Position 2019 Operational Town Administrator's Office -
B Incorporate Childcare into the Strategic Plan 2020 Strategic Plan Outstanding Community Services Policy Statement
Appendix A – Implementation Guide27
Appendix B – Community Meeting Post-It® Comments
28
Housing Post-It Note Comments
Workforce Housing and Childcare Task Force
5/22/2019 Community Meeting
Establish Workforce Housing Guidelines
• Allow for innovative solutions → tiny homes
• Develop data driven metrics and goals for assessing this issue
• Identify both mid income – teachers, nurses, etc & low income (tourist services –
housekeeping, waitstaff, etc) & meet needs
• Think about transportation issue for folks who don’t have cars - bus?
• Don’t forget to include RMNP in list of year round and seasonal employers
• How Will Community Buy in Be Achieved?
• Priority segments income/housing pref – prioritize year round multifamily opportunities
• Include middle income needs as WORKFORCE
• I’d like to see Town develop a vision for the future re: housing for all incomes and retired
(to age in place)
• Develop a task force in developing guidelines WF encompassing many scenarios
• Will/should the guidelines establish a minimum length of lease?
Provide Financial Support
• Utilize property taxes
• Develop consistent funding
• Use all money from Visit Estes Park for housing and child care
• Need to develop SUSTAINABLE FINANCIAL SUPPORT MODEL
• Invest 50% of the funds designated for “Visit Estes Park” into solutions for workforce
housing
• Incentives for people who own rental houses to rent them to Estes Park teachers,
firefighters, police, medical staff instead of vacation rentals
• Financial support for housing needs to include long term & options that are sustainable
• Tax vacation rentals
• Are you thinking down pay assistance for owners?
• Tap fees & Development cost adjustments for WF units
• Describe how this directly impacts the workforce sect looking for housing
• Work with employers to help meet their employees [sic] needs.
• Offer a reduction in property tax to lodging establishments that offer a portion or % of
their units for summer workforce housing at a monthly reduced rate instead of regular
nightly rental price.
• Utility, tax subsidies for property owners developers creating workforce housing
• Tax $ provide ongoing stability to program
• Utility subsidies yes
• Urban Renewal/Opportunity Zone
29
Continue Adapting Development Code
• Initiate innovative approaches that maximize partnerships – Biz – Nonprofit - $ - (multi-
use)
• Deed restrictions in perpetuity
• Limit short-term rentals and tax them.
• Housing needs to be located w/in walking distance of critical services
• Allow ADUs / Allow tiny houses (≤400 SF) *see IRC 2018 Appendix Q
• Critical to ensure that developments using new codes for workforce housing continue to
be used for workers that fit criteria – ongoing monitoring/enforcement.
• Very important for workforce housing to fit into the existing community
• Comp plan rewrite/vacation rentals/Amend development code to make vacation rentals
harder to license and enforce existing code.
• Stop allowing short term rental permits to be sold w property
• Lower cap on number of permits for ST rentals by attrition
• Quite a few seniors don’t view W.F. housing as critical and oppose developments and
code changes – find ways to engage them and gain their support
• Downtown focus is appropriate – as a downtown resident I see advantages of
walking/biking to work. Denser housing is appropriate to downtown.
• Progress…how can we evolve with growth, not how can we make growth adapt to us
• Incentivize “CD” zone development
• Allow/encourage Adaptability – The Process to develop is arduous
• Be creative in progressive process
• How do we preserve Community character when the code does not address enough about
appearance of buildings.
• In new development code encourage housing w/ density bonus
• Allow accessory dwellings
• Raise height limit downtown to 50’ at least for housing
• Allowing freakin’ ADU development
Utilize Town-Owned Land
• “less dense” How does this represent the inevitable growth of our town?
• Establish tiny house community for tiny houses on wheels (THOWs) * IRC 2021 should
include THOW stds.
• Build and sell deed restricted WF housing. Makes money for the town and pays itself off.
• What exactly is the realistic “character” of our town? Does this fit in the “progress” of
our town being promoted & inevitable
• Yes.
• Absolutely not – Entities requiring workers should provide WH
• Maybe if done properly
Miscellaneous
• Limit vacation short term rentals (even more!) and enforce.
• Involve CBOfficer in workforce housing to keep up-to date on trend in WF housing =
public info often given
30
• How do you keep work force housing for work force – not passed on to those no longer
working? Who is the policeman?
• Consider “Sleeping Pod” communal facilities w modern design & amenities
• Promote/allow RV parks to accept long-term tiny houses
• Use newspapers to showcase real-life problems w those workers who commute, live in
car, tent, etc.
• Restrict vacation rentals – lower cap – in residential zones to make more homes available
for rent & purchase
• After a purchase How [sic] monitors if you stay in the workforce
• Purchase deed restrictions to maintain & preserve housing stock. Example:
vailindeed.com
• Town Admin. Office responsible – Critical to have town staff designated to support
future efforts! Keep it moving!
• If Town does not take lead in workforce housing, who then is expected to take lead
• Why not increase height of buildings to include 5 – and 6-story apts?
• Partner with the local lodges during the ‘off-season’ to provide housing to nurses, police
officers to give them time to find housing locally. An incentivized program for permanent
residents.
• What were the quantifiable data for needs.
• What are the real Actionable Efforts – who will lead these recommendations
31
Childcare Post-It Note Comments
Workforce Housing and Childcare Task Force
5/22/2019 Community Meeting
Coordinate Community Efforts
• Employee funded cooperative childcare – *paid by employers
• Networks for childcare providers to support one another
• Very important to inform the community and keep them actively engaged
• Role for community volunteers to assist
• Are local churches involved in childcare? Would the city financially support them if they
were?
• Need to organize well to coordinate
• Include Early Childhood Educators in discussions at one point
• Cultivate community culture that values families & children – and workforce. Be a
community where that is evident!!
• Work with large businesses that already own decent amount of land/property – such as
YMCA & Stanley
• EVICS develop database of individuals that are available as a sitter
• EVICS develop a database for openings at day care centers
• EVICS develop database for drop-in day care options/ and availability
• Needs to be collaborative effort. All players on same page. (Collective vision!)
• Use the words “Early Childhood Education” instead of “child care” –
• Organized Public Awareness effort to focus the need for childcare
• The big organizations need to be at the table – Hospital/School/etc as well as people who
are engaged in Early Childhood Education
• Development of multi-use – housing-retail-childcare…
• This is a community issue as families with children are critical to a vibrant community
• Work with local churches to provide child care
Provide Capital Funding
• Find Angel Investors for potential providers
• Childcare $ - Transfer $ to childcare away from VEP
• Grants? Special loans? How can we support architectural development
• Invest 50% of the funds designated for “Visit Estes Park” into solutions for childcare
o [Additional Post-It to the left] Great idea →
• If marajana [sic] shop opens – use that sales tax for childcare center funding and
scholarship funding [followed by three checkmarks)
• Start up costs are critical! (Market failure w/o public support)
• Some start-up costs as community grants
• Opportunity zone → seek social impact funds to match w/ Town money
• Subsidize education and capital for child care providers
• Use town funds to stimulate solutions
32
Budget Ongoing Financial Support
• No to continuation of 1A sales tax for other reasons
• Only for subsidizing building and start-up/increase capacity – not childcare scholarships
• If marajana [sic] shops passes use that sales tax to support childcare centers and childcare
scholarships
• Childcare Tx [sic] District
• % of profits from commercial establishments that are of large size e.g. Safeway, etc.
• Breckenridge model is tax money dedicated to provide scholarships – 30% of operating
costs
• Critical for sustainability & economic growth
• Financially support the Estes ECE and support the effort to create a childcare District.
• Need a sustainable financial model for childcare – role of major employers – Hospital,
School District, RMNP, Town
• Who will coordinate the effort to get the taxing district going?
• Cooperative! – offset costs by increasing “family” involvement
• “Childcare District” would this include area outside the Town but part of the EValley?
Utilize Town-Owned Land
• Why not enough area at Stanley Park for facility and parking?
• #1. Stanley Park #2. Purchase Mtn. Top property & dedicate to childcare #3. Incentivize
private business or employer to provide facility
• How about childcare along w/ new housing developments? Building it into an apt. bldg..
for example
• Town purchase Mtn Top from John and additional land for expansion
o [attached note from someone else] then Mtn Top lease the property from the
Town
• Utilize the elem. School (or any school) with extra space…after school care too. Use
church space – but not w/ town $
• No thanks Private enterprise only
• Why not Stanley Park? Close to schools.
• If not town owned land – can town help find other available land?
• Lease town own land for housing and childcare facilities
• Possibly easier to develop and lower serious costs for developer
Miscellaneous
• If affording hiring workers for infant/toddler programs is an issue – encourage various
college-university early childcare education dept. to have summer or year round intern
programs to have students come work as an unpaid or minimal pay internship to gain
experience in working w/ infants/toddlers. As an education major myself in college, I did
unpaid student teaching a whole school year – I was under the expertise of a teacher but
had to prepare same lesson plans & carry out teaching some lessons. As long as interns
are background checked it could be a good opportunity for experience & reduce costs for
a facility to provide childcare.
• Do we want one larger facility or several smaller ones – but that ↓’s possibility of
infant/toddler financial feasibility
33
• We need a solution NOW I recommend that the Town purchase the land that Mountain
Top land [sic] and leasing it at fair market to Christy Delorme
• Concern about one group going rogue – not part of community effort.
• Work with State regulations to help with progress to compliance
• Stop listening to the Squeaky Wheels – take care of our families who are too busy
working to be here
• Key is to provide either higher paying jobs or lower costs (housing, food, etc) for
successful child care in EP and/or a defined financial/land contribution from town and/or
county
• Incentivize more family childcare providers – helping with licensing cost, improvement
grants, etc.
• Keep childcare and eldercare together – similar needs good for our community
• Can we incentivize industry growth?
• Please explain Childcare Districts – could the idea be to set up a District for the Estes
Valley? Would it be a separate taxing organization?
• Buy property invest in current Childcare building in town. Capital funding to expand
infant/toddler center
• Drop-in/Extended hours/Weekend Days/Daycare
• Create network of provider supports to ↑ slots w/ innovative/exempt statue [sic] while
reinforcing quality
• Need to include with other town priorities – ex: Stormwater Utility
• Create team of builders (Habitat for Humanity-style) to volunteer w building fixes to
support childcare facility standards
• Town buy (invest) in existing land & structure being used for childcare
• Maybe allow “unlicensed” facilities which still provide quality care?
• Could the town buy the property and building of Mountain Top Preschool? There is extra
land there for expansion –
34
Any Other Thoughts Post-It Note Comments
Workforce Housing and Childcare Task Force
5/22/2019 Community Meeting
• Stop allowing commercial development in R&A zones
• Could the town trustees establish a minimum living wage for workers? This would drive
the market toward community balance.
• Will people living outside of the town but in the E. Valley be able to vote on the
proposals?
• Will/can taxes (revenue) be used to support these efforts e.g. county taxes as well as town
taxes (revenue from taxes)?
35
Ad-Hoc Workforce
Housing and Childcare
Task Force
Recommendations
Town Board Study Session
June 11, 2019
36
Agenda
•Background
•Workforce Housing Recommendations
•Childcare Recommendations
•Not Recommended
•Next Steps
37
Background –Task Force Purpose
•Created November 13, 2018 by Town Board
•Members
•Trustee Carlie Bangs
•Trustee Ron Norris
•Assistant Town Administrator Travis Machalek
•Develop recommendations for Town Board on
strategies and tactics to address Workforce Housing
and Childcare issues
38
Background –A Note
•What follows are recommendations from the Task
Force to the Town Board
•This is not a decision-making meeting
•Decisions on Town Board adoption of any of these
recommendations will take place as part of the
Strategic Planning and Budget processes
39
Background –Foundational
Documents
•Foundational documents as a base
•Town Strategic Plan (2019)
•Avalanche Economic Development Strategy (2015)
•Family Advisory Board Recommendations (2018)
•Housing Needs Assessment (2016)
•National Citizen Survey Community Livability Report (2018)
•Stanley Park Master Plan (2019)
40
Background –Evaluation Criteria
•Three main criteria to evaluate recommendations
•Administratively feasible?
•Politically acceptable?
•Measurable and consistent with the Strategic Plan Outcome
Areas?
41
Background -Public Engagement
•16 conversations with institutional stakeholders
•6 meetings with individuals responding to call for input
•3 focus groups with ~20 participants
•Project-specific email (chtf@estes.org) ~15 emails
•Community Meeting with ~50 participants
42
Key Learnings from Public
Engagement
•Wide spectrum of views
•Balanced and deliberate approach advocated by
most
•Many have characterized these issues as a crisis,
but sentiment is not universal
•Need for ongoing, enhanced engagement
43
Workforce Housing
44
Key Learnings - 1
•Workforce housing is a complex and multifaceted issue
•Lack of workforce housing is a serious issue for many employers
•At least two distinct workforce housing needs
•Year -round workforce (e.g. nurses, police officers, utility workers)
•Seasonal workforce (expanded seasonal staffing needs)
•Needs and preferences are different, but each impacts the other
45
Key Learnings - 2
•“Workforce” is composed of many different segments
•Income (40% to 150%+ Area Median Income)
•Housing preferences
•Rent/Own
•Long-Term/Short-Te r m
•Single Family/Apartments/Duplex/etc.
•Housing impacts are not uniform among stakeholders
•Large organizations appear to have a more urgent issue (turnover/commuting)
46
Key Learnings - 3
•Preserving community character while working to
address workforce housing issues is critical.
•Engagement indicates that Planning and Zoning
regulations are among the most powerful tools the
Town has to address workforce housing.
47
Workforce Housing
Recommendations
•Summary of Town Role:
•Establish Role Clarity
•Provide Financial Support
•Adapt the EVDC
•Utilize Town-Owned Land
•Ensure Accountability
48
WFH –Establish Role Clarity
•Draft, adopt, and publish Workforce Housing
Guidelines (WHG)
•Define “Workforce Housing” (% of AMI and work requirements)
•Articulate Town priority segments (income, housing preference,
etc.)
•Plain-language explanation of regulations and incentives
•Participate in Housing Authority Led Strategic
Planning effort
•Clearly communicate Town’s role using WHG as a base
49
WFH –Provide Financial Support
•Use a portion of annual surplus General Fund revenues to
support one-time workforce housing and childcare
expenditures
•E.g. Land-Banking and Assisting Housing Authority
•Use WHG to guide use of funds
•Increase ongoing budget funding for utility tap subsidies
•$50,000 roughly equates to a 50% subsidy for 10 units
•Future consideration of dedicated funding source as
financial needs become more clear (e.g. 1A sales tax
renewal)
50
WFH –Adapt the EVDC
•Prioritize EVDC Amendments on the Master List of Proposed
Amendments that impact housing
•Incentivize Downtown housing
•Implement the Downtown Plan
•Ensure the Comprehensive Plan update considers workforce
housing needs
51
WFH –Utilize Town-Owned Land
•Work with 3rd party to develop Fish Hatchery property with less-dense housing
•Reassess previously submitted proposals
•Re-evaluate Dry Gulch property for less-dense housing
•Ensure road access to property
•Begin land banking efforts for future community needs including housing developments
•Coordinate and cooperate with the Estes Valley Land Trust
52
WFH –Ensure Accountability
•Designate Assistant Town Administrator as point
position
•Incorporate workforce housing into the strategic
plan
53
Childcare
54
Key Learnings - 1
•Severe lack of infant and toddler capacity
•Community awareness of this issue lower than
Workforce Housing
•Less referenced as problem by employers than
Workforce Housing
•Still critical to community sustainability
•Family Advisory Board has identified childcare as a critical need
55
Key Learnings - 2
•Efforts to expand capacity underway
•New Childcare District legislation
•Data is hard to come by, Childcare Needs Assessment is a good start
•Difficult to fund infant/toddler care with fees that working families can afford
•Increasing need for financial assistance from community due to decreasing State support
56
Draft Childcare Recommendations
•Summary of Town role:
•Coordinate Community Efforts
•Provide Financial Support
•Utilize Town-Owned Land
•Ensure Accountability
57
Childcare –Coordinate
Community Efforts
•Convene leaders of local childcare capacity efforts
•Participate in County Strategic Plan childcare
capacity team
58
Childcare –Provide Financial
Support
•Draft and adopt funding policy to guide future Town
investments in childcare facilities
•Use a portion of annual surplus General Fund revenues to
support one-time workforce housing and childcare
expenditures
•Land-Banking
•Assistance with capital opportunities as they arise
•Direct ongoing funding to growing infant/toddler capacity
59
Childcare –Utilize Town-Owned
Land
•Use Town property to catalyze childcare projects
that are in line with Town’s Funding Policy
•Create list of Town-owned property suitable for childcare
facilities
•Actively market through connections
•Begin land-banking efforts for future community
needs including childcare facilities
•Coordinate and cooperate with the Estes Valley Land Trust
60
Childcare –Ensure Accountability
•Designate the Assistant Town Administrator as Point Position
•Incorporate childcare into the Strategic Plan
61
Not Recommended
62
Not Recommended –Workforce
Housing
•Building and/or operating workforce housing
•Leading workforce housing efforts
•Leading development of a Workforce Housing Strategic Plan
•Guaranteeing that new development provides workforce housing
•Commercial Linkage Program
•Inclusionary Zoning
•Implementing no-net-loss provisions
•Hiring a Housing Coordinator
63
Draft Not Recommended –
Childcare
•Providing childcare
•Providing five (5) acres in Stanley Park for future
childcare facility
•Creating a Town-operated scholarship fund
64
Next Steps
•Incorporate recommendations into strategic plan proc ess
•Quarterly review of Strategic Plan process
•Dissolve Ad-Hoc Task Force effective June 11th
•Maintain “Parking Lot” list of items for future consideration
•Ensure longer-term considerations are included in future Comprehensive Plans
65
Questions?
66
Housing Post-It Note Comments
Workforce Housing and Childcare Task Force
5/22/2019 Community Meeting
Establish Workforce Housing Guidelines
• Allow for innovative solutions → tiny homes
• Develop data driven metrics and goals for assessing this issue
• Identify both mid income – teachers, nurses, etc & low income (tourist services –
housekeeping, waitstaff, etc) & meet needs
• Think about transportation issue for folks who don’t have cars - bus?
• Don’t forget to include RMNP in list of year round and seasonal employers
• How Will Community Buy in Be Achieved?
• Priority segments income/housing pref – prioritize year round multifamily opportunities
• Include middle income needs as WORKFORCE
• I’d like to see Town develop a vision for the future re: housing for all incomes and retired
(to age in place)
• Develop a task force in developing guidelines WF encompassing many scenarios
• Will/should the guidelines establish a minimum length of lease?
Provide Financial Support
• Utilize property taxes
• Develop consistent funding
• Use all money from Visit Estes Park for housing and child care
• Need to develop SUSTAINABLE FINANCIAL SUPPORT MODEL
• Invest 50% of the funds designated for “Visit Estes Park” into solutions for workforce
housing
• Incentives for people who own rental houses to rent them to Estes Park teachers,
firefighters, police, medical staff instead of vacation rentals
• Financial support for housing needs to include long term & options that are sustainable
• Tax vacation rentals
• Are you thinking down pay assistance for owners?
• Tap fees & Development cost adjustments for WF units
• Describe how this directly impacts the workforce sect looking for housing
• Work with employers to help meet their employees [sic] needs.
• Offer a reduction in property tax to lodging establishments that offer a portion or % of
their units for summer workforce housing at a monthly reduced rate instead of regular
nightly rental price.
• Utility, tax subsidies for property owners developers creating workforce housing
• Tax $ provide ongoing stability to program
• Utility subsidies yes
• Urban Renewal/Opportunity Zone
67
Continue Adapting Development Code
• Initiate innovative approaches that maximize partnerships – Biz – Nonprofit - $ - (multi-
use)
• Deed restrictions in perpetuity
• Limit short-term rentals and tax them.
• Housing needs to be located w/in walking distance of critical services
• Allow ADUs / Allow tiny houses (≤400 SF) *see IRC 2018 Appendix Q
• Critical to ensure that developments using new codes for workforce housing continue to
be used for workers that fit criteria – ongoing monitoring/enforcement.
• Very important for workforce housing to fit into the existing community
• Comp plan rewrite/vacation rentals/Amend development code to make vacation rentals
harder to license and enforce existing code.
• Stop allowing short term rental permits to be sold w property
• Lower cap on number of permits for ST rentals by attrition
• Quite a few seniors don’t view W.F. housing as critical and oppose developments and
code changes – find ways to engage them and gain their support
• Downtown focus is appropriate – as a downtown resident I see advantages of
walking/biking to work. Denser housing is appropriate to downtown.
• Progress…how can we evolve with growth, not how can we make growth adapt to us
• Incentivize “CD” zone development
• Allow/encourage Adaptability – The Process to develop is arduous
• Be creative in progressive process
• How do we preserve Community character when the code does not address enough about
appearance of buildings.
• In new development code encourage housing w/ density bonus
• Allow accessory dwellings
• Raise height limit downtown to 50’ at least for housing
• Allowing freakin’ ADU development
Utilize Town-Owned Land
• “less dense” How does this represent the inevitable growth of our town?
• Establish tiny house community for tiny houses on wheels (THOWs) * IRC 2021 should
include THOW stds.
• Build and sell deed restricted WF housing. Makes money for the town and pays itself off.
• What exactly is the realistic “character” of our town? Does this fit in the “progress” of
our town being promoted & inevitable
• Yes.
• Absolutely not – Entities requiring workers should provide WH
• Maybe if done properly
Miscellaneous
• Limit vacation short term rentals (even more!) and enforce.
• Involve CBOfficer in workforce housing to keep up-to date on trend in WF housing =
public info often given
68
• How do you keep work force housing for work force – not passed on to those no longer
working? Who is the policeman?
• Consider “Sleeping Pod” communal facilities w modern design & amenities
• Promote/allow RV parks to accept long-term tiny houses
• Use newspapers to showcase real-life problems w those workers who commute, live in
car, tent, etc.
• Restrict vacation rentals – lower cap – in residential zones to make more homes available
for rent & purchase
• After a purchase How [sic] monitors if you stay in the workforce
• Purchase deed restrictions to maintain & preserve housing stock. Example:
vailindeed.com
• Town Admin. Office responsible – Critical to have town staff designated to support
future efforts! Keep it moving!
• If Town does not take lead in workforce housing, who then is expected to take lead
• Why not increase height of buildings to include 5 – and 6-story apts?
• Partner with the local lodges during the ‘off-season’ to provide housing to nurses, police
officers to give them time to find housing locally. An incentivized program for permanent
residents.
• What were the quantifiable data for needs.
• What are the real Actionable Efforts – who will lead these recommendations
69
Childcare Post-It Note Comments
Workforce Housing and Childcare Task Force
5/22/2019 Community Meeting
Coordinate Community Efforts
• Employee funded cooperative childcare – *paid by employers
• Networks for childcare providers to support one another
• Very important to inform the community and keep them actively engaged
• Role for community volunteers to assist
• Are local churches involved in childcare? Would the city financially support them if they
were?
• Need to organize well to coordinate
• Include Early Childhood Educators in discussions at one point
• Cultivate community culture that values families & children – and workforce. Be a
community where that is evident!!
• Work with large businesses that already own decent amount of land/property – such as
YMCA & Stanley
• EVICS develop database of individuals that are available as a sitter
• EVICS develop a database for openings at day care centers
• EVICS develop database for drop-in day care options/ and availability
• Needs to be collaborative effort. All players on same page. (Collective vision!)
• Use the words “Early Childhood Education” instead of “child care” –
• Organized Public Awareness effort to focus the need for childcare
• The big organizations need to be at the table – Hospital/School/etc as well as people who
are engaged in Early Childhood Education
• Development of multi-use – housing-retail-childcare…
• This is a community issue as families with children are critical to a vibrant community
• Work with local churches to provide child care
Provide Capital Funding
• Find Angel Investors for potential providers
• Childcare $ - Transfer $ to childcare away from VEP
• Grants? Special loans? How can we support architectural development
• Invest 50% of the funds designated for “Visit Estes Park” into solutions for childcare
o [Additional Post-It to the left] Great idea →
• If marajana [sic] shop opens – use that sales tax for childcare center funding and
scholarship funding [followed by three checkmarks)
• Start up costs are critical! (Market failure w/o public support)
• Some start-up costs as community grants
• Opportunity zone → seek social impact funds to match w/ Town money
• Subsidize education and capital for child care providers
• Use town funds to stimulate solutions
70
Budget Ongoing Financial Support
• No to continuation of 1A sales tax for other reasons
• Only for subsidizing building and start-up/increase capacity – not childcare scholarships
• If marajana [sic] shops passes use that sales tax to support childcare centers and childcare
scholarships
• Childcare Tx [sic] District
• % of profits from commercial establishments that are of large size e.g. Safeway, etc.
• Breckenridge model is tax money dedicated to provide scholarships – 30% of operating
costs
• Critical for sustainability & economic growth
• Financially support the Estes ECE and support the effort to create a childcare District.
• Need a sustainable financial model for childcare – role of major employers – Hospital,
School District, RMNP, Town
• Who will coordinate the effort to get the taxing district going?
• Cooperative! – offset costs by increasing “family” involvement
• “Childcare District” would this include area outside the Town but part of the EValley?
Utilize Town-Owned Land
• Why not enough area at Stanley Park for facility and parking?
• #1. Stanley Park #2. Purchase Mtn. Top property & dedicate to childcare #3. Incentivize
private business or employer to provide facility
• How about childcare along w/ new housing developments? Building it into an apt. bldg..
for example
• Town purchase Mtn Top from John and additional land for expansion
o [attached note from someone else] then Mtn Top lease the property from the
Town
• Utilize the elem. School (or any school) with extra space…after school care too. Use
church space – but not w/ town $
• No thanks Private enterprise only
• Why not Stanley Park? Close to schools.
• If not town owned land – can town help find other available land?
• Lease town own land for housing and childcare facilities
• Possibly easier to develop and lower serious costs for developer
Miscellaneous
• If affording hiring workers for infant/toddler programs is an issue – encourage various
college-university early childcare education dept. to have summer or year round intern
programs to have students come work as an unpaid or minimal pay internship to gain
experience in working w/ infants/toddlers. As an education major myself in college, I did
unpaid student teaching a whole school year – I was under the expertise of a teacher but
had to prepare same lesson plans & carry out teaching some lessons. As long as interns
are background checked it could be a good opportunity for experience & reduce costs for
a facility to provide childcare.
• Do we want one larger facility or several smaller ones – but that ↓’s possibility of
infant/toddler financial feasibility
71
• We need a solution NOW I recommend that the Town purchase the land that Mountain
Top land [sic] and leasing it at fair market to Christy Delorme
• Concern about one group going rogue – not part of community effort.
• Work with State regulations to help with progress to compliance
• Stop listening to the Squeaky Wheels – take care of our families who are too busy
working to be here
• Key is to provide either higher paying jobs or lower costs (housing, food, etc) for
successful child care in EP and/or a defined financial/land contribution from town and/or
county
• Incentivize more family childcare providers – helping with licensing cost, improvement
grants, etc.
• Keep childcare and eldercare together – similar needs good for our community
• Can we incentivize industry growth?
• Please explain Childcare Districts – could the idea be to set up a District for the Estes
Valley? Would it be a separate taxing organization?
• Buy property invest in current Childcare building in town. Capital funding to expand
infant/toddler center
• Drop-in/Extended hours/Weekend Days/Daycare
• Create network of provider supports to ↑ slots w/ innovative/exempt statue [sic] while
reinforcing quality
• Need to include with other town priorities – ex: Stormwater Utility
• Create team of builders (Habitat for Humanity-style) to volunteer w building fixes to
support childcare facility standards
• Town buy (invest) in existing land & structure being used for childcare
• Maybe allow “unlicensed” facilities which still provide quality care?
• Could the town buy the property and building of Mountain Top Preschool? There is extra
land there for expansion –
72
Effective Period:Until superseded
Review Schedule:Annually IEffectiveDate:December 8,2020
References:EPDC Chapter 11 §11 .4,Finance Policy 671
______
ADMINISTRATION
227
Workforce Housing Guidelines
1.PURPOSE
This policy defines workforce housing for the Town’s purposes,articulates the Town’s
workforce housing goals,articulates the Town’s role related to workforce housing,and
establishes a funding mechanism to advance the Town’s workforce housing goals.
2.POLICY
The shortage of workforce housing in the Estes Valley creates significant challenges for
local businesses and other employers,including the Town of Estes Park,when it comes
to attracting and retaining employees for both year-round and seasonal occupations.
Town leadership has long acknowledged this issue and the need for development of a
range of housing options that will be available and attainable for all members of the
community.The Estes Park Development Code provides incentives in the form of density
bonuses for developers that “provide a variety of attainable and workforce housing
options for persons living and/or working in the Estes Valley.”The Town’s 2020 Strategic
Plan includes an objective to establish Workforce Housing Guidelines.
3.PROCEDURE
a.Definition of Workforce Housing
For the Town’s purposes,Workforce Housing is defined as housing within the Estes
Park R-3 School District for people who work within the boundaries of the school
district that is attainable for someone earning less than 175%Area Median Income.
Thus,workforce housing opportunities created or facilitated by the Town shall be
located within the school district and pricing should accommodate individuals and
families making less than 175%AMI.
i.Larimer County Area Median Income,Defined.The Larimer County Area
Median Income is the current applicable area median income for Larimer County
published by the U.S.Department of Housing and Urban Development.
ii.Renter-Occupied Attainable Housing Units:Consistent with Estes Park
Development Code Chapter 11,Section 11 .4,“attainable housing units”and
“workforce housing units”for renters shall mean the following:
a)Housing units that are attainable to households earning 175%of the Larimer
County Area Median Income or below,adjusted for household size.
Document Title Policy 227—Workforce Housing Guidelines 12/8/2020
Revisions:0 Town of Estes Park,Town Administrator’s Office Page 1 of 4
73
b)To qualify as attainable units,housing costs (i.e.,rent and utility expenses)
must not exceed thirty percent (30%)of the maximum income for an imputed
household size based on 175%of the Larimer County Area Median Income.
The imputed household size is equal to one and one-half (1 .5)times the
number of bedrooms in the unit.For example,rent on a two-bedroom unit
would be equal to 30%of the monthly income limit of a three-person family;
for a three-bedroom unit the rent should not exceed 3O%of the monthly
income of a four-and-one-half-person family—the midpoint of the range of a
four-and five-person family.
c)If the property owner does not pay all utility expenses,then a utility allowance,
computed by the Estes Park Housing Authority,must be subtracted from the
housing cost to determine the maximum rent.
iii.Owner-Occupied Attainable Housing Units:Consistent with Estes Park
Development Code Chapter 11,Section 11 .4,“attainable housing units”and
“workforce housing units”for unit owners shall mean the following:
a)Housing units that are attainable to households earning 175%of the Larimer
County Area Median Income or below,adjusted for household size.
b)To qualify as attainable units,housing costs must not exceed 40%of the
175%Larimer County Area Median Income,adjusted for household size.
b.Workforce Housing Goals
The Town’s goals associated with workforce housing,which should inform Town
decisions related to development,are as follows:
•Increase the availability of workiorce housing within the boundaries of the school
district.
•Preserve or facilitate rehabilitation of existing workforce housing as opportunities
arise.
•Promote the construction of housing within the school district that is affordable to
households with incomes at or below 175%of the area-wide median.
•Promote greater housing choices (including levels of affordability,as well as
rental and ownership options)for households with incomes at or below 175%of
the area-wide median income within the school district,including those for year-
round employees as well as seasonal employees.
•Negotiate with developers,as necessary,to ensure that developments with
housing units include workforce housing with a range of affordability for
individuals or households earning between 30%and 175%of AMI.
•Assist local employers in reducing critical labor shortages of skilled and semi
skilled workers by providing housing that will be accessible to the worker’s places
of business.
•Work with Larimer County to further the Town’s workforce housing goals within
the school district in areas that fall outside of Town limits.
Document Title Policy 227—Workforce Housing Guidelines 12/8/2020
Revisions:0 Town of Estes Park,Town Administrator’s Office Page 2 of 4
74
c.The Town’s Role
The Town’s formal role with respect to workforce housing is to:
•Support the Estes Park Housing Authority both financially and as an active
partner and participant in its housing development and strategic planning efforts.
•Advocate for development that includes workforce housing with a range of
affordability for households with incomes at or below 175%of the area-wide
median income,with a preference for housing that is affordable for those earning
between 60-80%AMI.
•Partner with private entities/developers to create workforce housing on Town-
owned property (although the preferred approach is to work through the EPHA in
these efforts).
•Provide financial support for the development of workforce housing.
•Periodically review the Development Code and make revisions as appropriate
and feasible to encourage development of workforce housing.
•Work with Larimer County to further the Town’s workforce housing goals within
the school district in areas that fall outside of Town limits.
d.Workforce Housing Reserve
i.Establishment:The Town will create a new reserve within the General Fund
dedicated to advancing the workforce housing goals outlined above.
ii.Appropriations to the Workforce Housing Reserve:On an annual basis as
part of the budget development process,Town staff will identify the dollar amount
of sales tax revenue expected to be received in excess of 105%of the budgeted
revenues (if applicable).The Board will consider appropriating all or a portion of
these excess revenues to the Workforce Housing Reserve within the General
Fund.The Town Board may appropriate funds to the Workforce Housing
Reserve whenever and in whatever amount it deems appropriate.
a)Other Revenues:In addition to the appropriations outlined above,other
revenue sources for the Workforce Housing Reserve may include donations,
clean and lien repayments,loan repayments,vacant property registration fees
or property tax surcharges,proceeds from the sale or lease of public property,
and grants related to workforce housing related activities.
iii.Workforce Housing Reserve Expenditures:
a)The Workforce Housing Reserve will be the primary place where funds used
to further Workforce Housing goals are allocated and reserved for
expenditure.Expenditures from the Workforce Housing Reserve Fund will
include,but are not limited to:
•Acquisition of real property to be used for worktorce housing
•Construction of new housing
Document Title Policy 227—Workforce Housing Guidelines 12/8/2020
Revisions:0 Town of Estes Park,Town Administrator’s Office Page 3 of 4
75
•Redevelopment,rehabilitation,or repair of existing property to be used
for workforce housing
•Down payment assistance programs for Town staff or others
•Subsidies for developments that offer workforce housing,including tap
fee subsidies
•Pre-deve!opment activities for developments that offer workforce housing
b)Base Funding for the Estes Park Housing Authority,if approved by the Board
during the annual budget development process,will remain in the Outside
Entity Funding budget. The Housing Authority will remain eligible for funds
consistent with Finance Policy 671:Town Funding of Outside Entities.
Approved:
t%2C2)
Date
Document Title Policy 227 —Workforce Housing Guidelines 12/8/2020
Revisions:0 Town of Estes Park,Town Administrator’s Office Page 4 of 4
76
!
!
!
!!
!
!
!
Prepared!by:!
Rees!Consulting,!Inc.!
Crested!Butte,!CO!
&!
WSW!Consulting!
San!Anselmo,!CA!
!
!
Estes!Park!Area!
Housing!Needs!Assessment!
!
January!22,!2016!
!
!
!
77
500#Big#Thompson#Avenue#
P.O.#Box#1200#
Estes#Park,#CO#80517#
#
#
#
January 2016
Attached is the updated Estes Park Area Housing Needs Assessment, completed January
2016. This study quantifies the community’s need for residential units to accommodate current
and projected demand for safe, attainable housing by residents and the workforce. This study
continues the attainable housing effort that we started in 1989 and, with dedication, will help us
provide the attainable housing needed by our workforce, our businesses and our community over
the next several years.
Without the financial and logistical support of community members and organizations
this Assessment would not have been possible. The Estes Park Housing Authority would like to
thank the following entities for their generous support of this project:
Bank of Colorado Bank of Estes Park
Economic Development Corporation Estes Park Board of REALTORS®
Estes Park Medical Center Estes Park School District
Forward Estes Park Foundation Rocky Mountain National Park
Town of Estes Park
This broad-based support is indicative of community-wide recognition of the importance
of housing for continued growth and well-being of Estes Park. This study was designed to
provide additional information to the community based upon accurate and timely data.
Employers and employees who provided information are also commended for their
timely response to surveys and questions. Without this input the conclusions of this assessment
would not have been possible.
The Estes Park Housing Authority presents this report to the Estes Valley Community
and its leaders so that there are relevant and accurate data upon which to base sound decisions to
help meet the continuing need for housing within the Estes Area.
Eric W. Blackhurst, Chairman
Estes Park Housing Authority
78
Estes!Park!Area!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!TOC!
!
TABLE!OF!CONTENTS!
!
INTRODUCTION!.......................................................................................................................!1!
PURPOSE!.......................................................................................................................................!1!
STUDY!AREA!..................................................................................................................................!1!
METHODOLOGY!..............................................................................................................................!2!
SECONDARY!DATA!SOURCES!.............................................................................................................!4!
WHAT!IS!AFFORDABLE!HOUSING!IN!ESTES!PARK?!.................................................................................!5!
ACKNOWLEDGEMENTS!.....................................................................................................................!5!
CONCLUSIONS,!RECOMMENDATIONS!AND!IMPLEMENTATION!STRATEGIES!............................!7!
DEMOGRAPHICS!.............................................................................................................................!7!
ECONOMIC!CONDITIONS!AND!TRENDS!................................................................................................!8!
HOUSING!INVENTORY!......................................................................................................................!9!
HOMEOWNERSHIP!MARKET!ANALYSIS!..............................................................................................!10!
RENTAL!MARKET!ANALYSIS!.............................................................................................................!10!
HOUSING!PROBLEMS!.....................................................................................................................!11!
HOUSING!NEEDS!AND!GAPS!............................................................................................................!11!
RECOMMENDATIONS!.....................................................................................................................!13!
IMPLEMENTATION!STRATEGIES!........................................................................................................!14!
1.#Develop#Strategic#Plan#.....................................................................................................#15!
2.#Hire#Housing#Coordinator#.................................................................................................#16!
3.#Guarantee#that#New#Development#Provides#New#Workforce#Housing#............................#17!
4.#Adopt#Accessory#Dwelling#Unit#Regulations#for#Workforce#Rentals#.................................#18!
5.#Create#Workforce#Housing#Fund#with#Dedicated#Revenue#Source#...................................#18!
6.#Amend#Town#Code#to#Allow#and#Encourage#Workforce#Housing#.....................................#19!
7.#Utilize#TownPOwned#Land#for#Workforce#Housing#...........................................................#20!
8.#Encourage#Downtown#Housing#........................................................................................#20!
9.#Support#and#Expand#Employer#Assisted#Housing#(EAH)#Efforts#........................................#20!
10.#Continue#Apartment#Development#and#Redevelopment#................................................#21!
11.#Draft#and#Adopt#Workforce#Housing#Guidelines#............................................................#22!
SECTION!1!O!DEMOGRAPHICS!..................................................................................................!23!
POPULATION!AND!HOUSEHOLDS!......................................................................................................!23!
HOUSEHOLD!CHARACTERISTICS!.......................................................................................................!25!
HISPANIC!POPULATION!..................................................................................................................!27!
SENIORS!......................................................................................................................................!27!
INCOME!......................................................................................................................................!28!
SECTION!2!–!ECONOMIC!CONDITIONS!AND!TRENDS!...............................................................!31!
NUMBER!OF!JOBS!AND!PROJECTIONS!...............................................................................................!32!
SEASONALITY!...............................................................................................................................!33!
UNFILLED!JOBS!.............................................................................................................................!35!
JOBS!AND!EARNINGS!BY!SECTOR!......................................................................................................!36!
JOBS!PER!EMPLOYEE!AND!EMPLOYEES!PER!HOUSEHOLD!.......................................................................!38!
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COMMUTING!...............................................................................................................................!38!
EMPLOYER!WORKFORCE!HOUSING!PERCEPTIONS!...............................................................................!42!
SECTION!3!–!HOUSING!INVENTORY!.........................................................................................!45!
HOUSING!UNITS!–!NUMBER!AND!RATE!OF!GROWTH!...........................................................................!45!
OCCUPANCY!AND!USE!...................................................................................................................!46!
AGE!OF!UNITS!..............................................................................................................................!48!
TYPES!OF!UNITS!............................................................................................................................!49!
OWNER/RENTER!MIX!....................................................................................................................!50!
AFFORDABLE!HOUSING!..................................................................................................................!50!
EMPLOYER!ASSISTED!HOUSING!.......................................................................................................!51!
PROPOSED!AND!PENDING!DEVELOPMENT!.........................................................................................!53!
SECTION!4!–!HOMEOWNERSHIP!MARKET!ANALYSIS!...............................................................!54!
OVERVIEW!OF!MARKET!CONDITIONS!AND!TRENDS!.............................................................................!54!
MARKET!SEGMENTS!AND!BUYER!PROFILES!........................................................................................!55!
SALES!ACTIVITY!.............................................................................................................................!56!
HOME!PRICES!..............................................................................................................................!57!
AVAILABILITY!–!HOMES!LISTED!FOR!SALE!..........................................................................................!58!
AVAILABILITY!–!LOTS!LISTED!FOR!SALE!..............................................................................................!58!
AGE!OF!LISTINGS!...........................................................................................................................!59!
AFFORDABILITY!OF!HOME!PRICES!....................................................................................................!59!
PERFORMANCE!OF!DEED!RESTRICTED!HOMES!....................................................................................!61!
Vista#Ridge#...........................................................................................................................#61!
The#Neighborhood#................................................................................................................#63!
MORTGAGE!AVAILABILITY!..............................................................................................................!64!
SECTION!5!–!RENTAL!MARKET!ANALYSIS!.................................................................................!66!
MARKET!OVERVIEW!AND!TRENDS!....................................................................................................!66!
INVENTORY!..................................................................................................................................!67!
RENTS!.........................................................................................................................................!68!
AVAILABILITY!................................................................................................................................!70!
TURNOVER!AND!WAIT!LISTS!...........................................................................................................!71!
UTILITIES!AND!DEPOSITS!................................................................................................................!72!
RENTER!PROFILES!.........................................................................................................................!72!
AFFORDABLE/INCOMEZRESTRICTED!RENTAL!HOUSING!........................................................................!74!
SECTION!6!–!HOUSING!PROBLEMS!..........................................................................................!77!
HOUSING!PROBLEM!PERCEPTIONS!...................................................................................................!77!
DIFFICULTY!FINDING!HOUSING!........................................................................................................!78!
COST!BURDENED!HOUSEHOLDS!.......................................................................................................!80!
OVERCROWDING!..........................................................................................................................!81!
SUBSTANDARD!HOUSING!...............................................................................................................!81!
LOSS!OF!EMPLOYEE!HOUSING!.........................................................................................................!83!
FORCED!COMMUTING!...................................................................................................................!84!
SECTION!7!–!HOUSING!NEEDS!AND!GAPS!................................................................................!87!
CURRENT!CONDITIONS!AND!CATCHZUP!NEEDS!...................................................................................!87!
Overcrowding#.......................................................................................................................#87!
InPcommuters#.......................................................................................................................#88!
Unfilled#jobs#.........................................................................................................................#88!
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FUTURE!(KEEPZUP)!NEEDS!.............................................................................................................!88!
Retiring#employees#...............................................................................................................#88!
Job#Growth#...........................................................................................................................#89!
SUMMARY!OF!CATCHZUP!AND!KEEPZUP!NEEDS!.................................................................................!89!
NEEDS!BY!OWN/RENT!AND!AMI!.....................................................................................................!90!
SEASONAL!WORKER!HOUSING!........................................................................................................!91!
SECTION!8!OO!HOUSING!PREFERENCES!.....................................................................................!94!
WANT!TO!OWN!VS.!RENT!...............................................................................................................!94!
UNIT!TYPE!...................................................................................................................................!95!
BEDROOMS!NEEDED!......................................................................................................................!96!
LOCATION!ATTRIBUTES!..................................................................................................................!98!
OWNER!AMENITIES!.......................................................................................................................!98!
RENTAL!AMENITIES!.......................................................................................................................!99!
SECTION!9!–!HOUSING!RESOURCES!AND!LIMITATIONS!.........................................................!101!
VACANT!AND!TOWNZOWNED!LAND!...............................................................................................!101!
FLOODPLAIN!REDISTRICTING!IN!2016!.............................................................................................!102!
REGULATORY!ISSUES!....................................................................................................................!104!
FUNDING!...................................................................................................................................!106!
ORGANIZATIONS!.........................................................................................................................!107!
Estes#Park#Housing#Authority#(EPHA)#.................................................................................#107!
Loveland#Housing#Authority#...............................................................................................#108!
Estes#Park#Economic#Development#Corporation#................................................................#109!
APPENDIX!A!–!HOUSEHOLD!INCOME!AND!AFFORDABILITY!CALCULATIONS!.............................!1!
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INTRODUCTION!
!
Purpose!
!
This!Housing!Needs!Assessment!quantifies!current!and!future!workforce!housing!needs!
in!the!Estes!Park!area,!identifies!where!the!market!is!not!addressing!those!needs!and!
provides!recommendations!on!how!those!needs!could!be!addressed.!Where!applicable,!
it!compares!results!to!the!2008!Estes!Valley!Housing!Needs!Assessment,!which!was!
conducted!just!prior!to!the!recession,!to!understand!how!conditions!have!changed!postZ
recession!and!postZflood.!!It!answers!questions!such!as!how!much,!what!type,!and!at!
which!price!points!housing!is!needed!to!meet!the!needs!of!the!local!workforce.!
Information!is!presented!on!past!trends,!current!conditions,!and!housing!needs!
projected!through!2020.!
!
The!information!is!intended!to!help!establish!housing!strategies!and!workforce!housing!
policies!that!will!help!provide!opportunities!for!employees!to!live!in!the!Estes!Park!area!
and!help!support!the!community!and!economy.!The!information!will!also!help!the!Estes!
Park!Housing!Authority,!the!Town,!private!developers,!employers!and!other!
organizations!plan!projects!and!best!focus!resources!to!meet!current!and!future!housing!
needs.!
!
The!report!does!not!cover!senior!and!special!needs!housing,!which!are!populations!that!
require!special!housing!services!and!considerations!that!are!different!from!the!local!
workforce.!Analyzing!the!needs!of!these!populations!requires!expertise!and!methods!
unique!from!workforce!housing!needs!analysis.!In!May!2015,!the!Highland!Group,1!an!
organization!that!specializes!in!understanding!senior!housing!needs,!completed!a!study!
for!Larimer!County!and!the!Estes!Park!region,!which!should!be!referenced!when!seeking!
to!better!understand!and!address!senior!housing!and!care!needs.!!
!
Study!Area!
!
This!study!covers!the!area!approximately!defined!by!the!Estes!Park!REZ3!School!District,!
termed!the!“Estes!Park!area”!throughout!this!report.!!This!includes!the!Town!of!Estes!
Park,!unincorporated!Estes!Valley!and!neighboring!area!including!Drake,!Pinewood!
Springs!and!Glen!Haven.!Because!the!U.S.!Census!data!on!population!and!demographic!
information!is!not!provided!for!the!Estes!Park!REZ3!School!District,!data!is!analyzed!for!
Census!Tract!19.03!(Blocks!1!and!3),!28.01,!28.02!and!28.03,!which!roughly!represents!
this!area.!!Data!is!compared!to!the!town!of!Estes!Park!and!Larimer!County!where!useful!
to!understand!variations!in!key!indicators.!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
1!“Needs!and!Opportunities!in!Housing!and!Care!in!Larimer!County,”!Highland!Group,!May!2015.!
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Estes!Park!Study!Area!
The!study!area!is!the!yellowZhighlighted!region,!including!the!town!of!Estes!Park!
!
Methodology!
!
Primary!research!was!conducted!to!generate!information!beyond!that!available!from!
existing!public!sources!and!included:!!
!
Estes!Park!Area!Household!and!Employee!Survey.!!An!online!survey!was!made!available!
to!Estes!Park!area!households!and!workers!to!collect!information!on!housing!
preferences!of!residents!and!employees,!future!plans,!employment,!household!
characteristics,!housing!perceptions!and!conditions,!and!other!issues!not!otherwise!
available!through!secondary!sources.!!!
!
The!survey!was!distributed!as!an!online!link!through!workers’!places!of!employment!
with!the!generous!assistance!of!the!Estes!Park!Housing!Authority,!Town!of!Estes!Park!
Clerk!(who!supplied!business!license!information),!Partners!for!Commerce,!and,!of!
course,!Estes!Park!area!employers!–!both!large!and!small.!!The!survey!link!was!also!
made!available!on!the!Estes!Park!Housing!Authority’s!website!and!advertised!through!
newspaper!publications!and!other!media!and!sent!directly!to!residents!of!EPHA!
affordable!housing!properties,!among!others.!!
!
The!intent!was!to!reach!both!inZtown!residents!and!inZcommuters!(people!who!live!
outside!of!the!Estes!Park!area,!but!work!in!town).!!In!total:!
!
!
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• 655!responses!were!received!from!area!households!widely!distributed!
throughout!the!study!area!and!downZvalley.!
!
• Responses!represent!about!800!Estes!Park!area!workers!holding!950!local!jobs!–!
or!12%!of!area!jobs.!
!
• The!margin!of!error!for!survey!tabulations!is!within!about!2.5%!at!the!95%!
confidence!interval,!meaning!that!for!any!tabulation!the!percent!reported!is!
within!plus!or!minus!2.5%!from!what!is!actually!the!case.!For!data!representing!
less!than!the!full!population!of!responses!(e.g.,!home!owners!only),!the!margin!
of!error!will!be!higher.!
!
Estes!Park!Area!Household!and!Employee!Survey!Response!Summary!
Where!respondents!!
live!
#!Survey!
Responses!
Town!of!Estes!Park!425!
Estes!Park!Valley!144!
Remaining!study!area!(Drake,!Glen!Haven,!
Pinewood!Springs,!Allenspark)!
38!
Down!valley!inOcommuters!(Loveland,!Fort!
Collins,!Boulder!and!Weld!Counties,!etc.)!
48!
TOTAL!655!
!
Estes!Park!Area!Employer!Survey.!We!distributed!a!short!onZline!survey!to!employers!to!
reach!large!and!small!businesses!alike!in!the!Estes!Park!area.!!The!employer!survey!
probed!the!number!of!year!round!and!seasonal!workers!(summer!and!winter),!where!
workers!live!(commute!patterns),!employee!retention!and!recruitment!issues,!to!what!
extent!employee!housing!is!perceived!to!be!an!issue!and!their!associated!level!of!
support!for!housing!assistance.!!!
!
We!received!generous!assistance!from!the!Housing!Authority,!Partners!for!Commerce,!
the!Economic!Development!Corporation,!and!the!Town!of!Estes!Park!Clerk!(who!
supplied!business!license!information)!in!distributing!the!link.!!The!survey!link!was!also!
made!available!on!the!Estes!Park!Housing!Authority’s!website!and!advertised!through!
newspaper!publications!and!other!media.!We!also!followed!up!with!several!employers!
by!phone!interviews!to!generate!a!deeper!understanding!of!issues!presented!through!
survey!responses.!
!
Survey!responses!represent:!
!
• 128!businesses!or!about!13%!of!all!businesses!in!the!Estes!Park!area.!!
• A!very!large!45%!of!all!jobs!in!the!Estes!Park!area.!!!
!
!!
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Estes!Park!Area!Employer!Survey!Response!Summary!
!Responses!Total!in!Estes!
Park!area!
%!represented!
by!survey!
Employers!128!997!13%!
Jobs!represented!3,400!7,571!45%!
Source:!!Employer!survey!responses;!Estes!Park!area!employers!and!
job!numbers!from!ESRI!Business!Data.!
!
Employer!Interviews.!!Several!of!the!largest!employers!in!the!Estes!Park!area!were!
interviewed,!including!Rocky!Mountain!National!Park,!Town!of!Estes!Park,!Stanley!Hotel,!
Estes!Park!Medical!Center,!and!the!Estes!Park!School!District.!Interviews!followed!up!on!
survey!responses!and!sought!specifics!on!employer!perceptions!of!housing,!employee!
needs,!seasonal!worker!issues,!employer!housing!assistance!programs!and!other!
concerns.!
!
REALTOR®!and!Lender!Focus!Group.!A!focus!group!with!four!REALTORS®!and!two!local!
mortgage!lenders!was!held!in!Estes!Park.!Information!was!obtained!on!the!ownership!
market!including!current!prices,!recent!trends,!occupancy!patterns,!availability!and!what!
households!are!seeking!when!looking!to!purchase!or!rent!a!unit.!This!discussion!also!
helped!define!housing!preferences!in!the!town,!including!unit!type!and!locations.!
Lenders!provided!information!on!the!availability!of!financing!and!the!challenges!faced!
when!residents!try!to!buy!a!home.!
!
Property!Manager!Focus!Group.!!A!focus!group!was!also!held!in!which!six!rental!
property!managers!who!lease!affordable!and!marketZrate!rentals,!including!apartments,!
condominiums!and!singleZfamily!homes!participated.!Information!on!the!rental!market!
including!rents,!vacancy!rates,!recent!trends,!renter!profiles!and!units!most!in!demand!
was!obtained.!
!
Stakeholder!Interviews.!Additional!interviews!were!conducted!with!the!Estes!Park!
Housing!Authority,!Economic!Development!Corporation,!Town!Manager!and!Community!
Development!Department,!to!gather!their!input!and!perceptions!on!housing!problems,!
challenges!and!opportunities!in!Estes!Park.!!
!
Secondary!Data!Sources!
!
A!variety!of!sources!of!published!information!were!used!in!the!preparation!of!this!
report,!including!but!not!limited!to:!
!
• 2000!and!2010!US!Census!data!and!population!and!household!projections!from!
the!Colorado!Department!of!Local!Affairs!(DOLA);!
!
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• Employment!information!from!the!Quarterly!Census!of!Employment!and!Wages,!
the!US!Bureau!of!Economic!Analysis,!Department!of!Local!Affairs!(DOLA),!and!
ESRI!Business!Data;!!!
!
• 2015!Area!Median!Income!from!the!Department!of!Housing!and!Urban!
Development;!
!
• Current!MLS!listings;!
!
• Larimer!County!Assessor!property!records;!and!
!
• Existing!reports,!and!of!particular!note!the!2008!Estes!Valley!Housing!Needs!
Assessment!by!RRC!Associates!and!Rees!Consulting,!Inc.,!and!the!2015!Estes!
Valley!Economic!Development!Strategy!by!Avalanche!Economic!Strategies.!
!
What!is!Affordable!Housing!in!Estes!Park?!
!
This!report!centers!on!an!understanding!of!“what!is!affordable?”!Housing!is!attainable!
(or!affordable)!when!the!monthly!payment!(rent!or!mortgage)!is!equal!to!no!more!than!
30%!of!a!household’s!gross!income!(i.e.,!income!before!taxes).!Although!there!is!some!
variation,!this!standard!is!commonly!applied!by!federal!and!state!housing!programs,!
local!housing!initiatives,!mortgage!lenders!and!leasing!agents.!!
!
Please!reference!the!Appendix!for!more!details!on!the!area’s!household!incomes!and!
affordability!price!points!on!which!this!report!is!based,!including!income!sources!used!
and!assumptions!made!when!calculating!housing!affordability.!
!!!
Acknowledgements!
!
We!would!like!to!thank!all!of!those!who!have!helped!us!and!have!given!us!their!time!and!
assistance.!This!includes!the!Estes!Park!Housing!Authority,!Town!of!Estes!Park!
management!and!staff,!the!Estes!Park!Economic!Development!Corporation,!Partners!for!
Commerce,!Loveland!Housing!Authority,!Avalanche!Consulting,!and!area!employers!–!
large!and!small!–!for!their!assistance!both!taking!and!distributing!the!surveys!necessary!
for!this!study,!as!well!as:!!!
!
Interviewed!Employers:!
• Rocky!Mountain!National!Park!
• Estes!Park!School!District!
• Town!of!Estes!Park!
• Stanley!Hotel!
• Estes!Park!Medical!Center!
!
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Focus!Group!Participants:!
• Judy!Anderson!Anderson!Realty!and!Management!
• Abbey!Pontius!Anderson!Realty!and!Management!
• Seth!Hanson!Ponderosa!Realty!and!Management!
• Tanya!Trail!Ridge!Apartments!
• Gene!Whannel!Range!Property!Management!
• Rita!Kurelja!Estes!Park!Housing!Authority!!
• Shannon!Faith!Estes!Park!Housing!Authority!
• Eric!Blackhurst!Anderson!Realty!and!Management!
• Mike!Richardson!First!Colorado!Realty!
• Christian!Collinet!First!Colorado!Realty!
• Mary!Murphy!Coldwell!Banker/Estes!Village!Property!
• Rich!Flannery!
• Mike!Louk!
Envoy!Mortgage!
Bank!of!Estes!Park!
!!
!
!
!!
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CONCLUSIONS,!RECOMMENDATIONS!AND!IMPLEMENTATION!
STRATEGIES!
!
Workforce!housing!is!now!of!greater!concern!in!the!Estes!Park!area!than!it!has!been!at!
any!time!in!the!past,!even!though!homes!that!are!affordable!for!members!of!the!
workforce!holding!lowZwage!tourism!and!service!jobs!have!long!been!in!short!supply.!
The!recession!softened!both!the!ownership!and!rental!markets,!but!it!is!over,!and!
recovery!has!been!strong,!particularly!in!the!rental!market.!
!
The!shortage!of!housing!is!a!more!pressing!problem!currently!than!affordability;!
however,!with!housing!in!such!short!supply,!prices!are!rising!and!will!continue!to!do!so.!
Many!homes!are!now!needed!and!additional!units!will!be!needed!to!keep!pace!with!the!
strong!growth!in!public!and!private!facilities!now!planned.!!Development!of!housing!for!
the!workforce!within!the!Estes!Park!area!is!essential!for!providing!the!labor!force!
needed!to!fill!already!vacant!positions,!staff!planned!development,!and!support!the!
resident!and!economic!diversity!and!sustainability!desired.!
!
Commuting!is!not!the!solution,!but!will!remain!an!option!for!some!employees.!
Commuting!has!many!costs,!however,!including!those!borne!by!employers!who!must!
deal!with!high!turnover!and!absenteeism!among!inZcommuting!employees.!
!
This!report!quantifies!many!indicators!that!show!how!the!factors!causing!housing!
problems!have!and!are!continuing!to!trend!in!the!wrong!direction.!A!combination!of!
efforts!will!be!needed!to!counter!these!trends!and!provide!opportunities!to!meet!
workforce!housing!needs.!
!
Demographics!
!
Estes!Park!is!unique!among!Colorado!mountain!resort!communities!in!that!it!is!also!a!
retirement!community.!The!large!senior!population!creates!a!unique!challenge!for!
workforce!housing!–!seniors!generate!need!for!low/moderateZwage!service!workers,!
compete!with!employees!for!housing,!and!may!not!be!sensitive!to!or!fully!understand!
workforce!housing!problems.!For!younger!residents!to!be!able!to!live!and!raise!families!
in!the!Estes!Park!area,!significant!changes!to!housing!policies,!regulations!and!strategies!
are!needed.!In!summary:!
!!
• The!Town!of!Estes!Park!is!the!oldest!community!in!Colorado,!with!an!average!age!
of!51!years!old!in!2010;!!
!
• The!community!is!losing!families!and!young!and!middleZaged!households!–!these!
are!primary!workforce!households;!!
!
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• Growth!in!the!population!of!persons!over!the!age!of!65!is!outpacing!other!
population!groups!and!leading!to!a!community!even!more!dominated!by!retirees!
than!it!has!been!in!the!past;!and!
!
• The!incomes!of!workforce!households!in!the!Estes!Park!area!are!lower!than!the!
median!incomes!for!Larimer!County,!which!is!important!when!considering!
housing!affordability!and!utilization!of!funding!sources!based!on!the!Area!
Median!Income!(AMI)!for!the!county.!
!
Economic!Conditions!and!Trends!
!
The!economy!is!growing,!but!economic!seasonality!is!still!a!challenge!when!attempting!
to!provide!housing!for!the!workforce.!The!Estes!Park!area!is!now!experiencing!a!labor!
shortage!with!many!unfilled!jobs!–!both!year!round!and!seasonal!positions.!Employers!
have!been!active!in!providing!housing!assistance!to!their!employees,!particularly!in!
housing!seasonal!workers.!!Despite!this,!the!scarcity!of!housing!available!for!the!
workforce!in!the!area!is!adversely!affecting!at!least!85%!of!all!employers.!It!primarily!
impacts!employees!holding!entryZlevel!through!midZmanagement!positions.!The!Estes!
Park!area:!
!
• Has!experienced!stronger!job!growth!than!Larimer!County!overall!in!past!5!years;!!
!
• Had!the!most!commercial!development!activity!this!past!year!than!it!has!seen!
since!before!the!recession.!!More!workers!will!be!needed!to!fill!jobs!created!as!
local!businesses!expand!and!new!businesses!are!added,!increasing!the!demand!
for!housing!to!support!businesses!and!employees;!!
!
• Has!high!seasonality!in!employment.!!About!3,000!jobs!must!be!newly!filled!each!
summer!to!meet!seasonal!employment!needs;!!
!
• Has!an!economy!dominated!by!lowZpaying!tourism!service!positions,!although!
there!is!also!growth!in!higher!paying!health!care!jobs;!
!
• Is!experiencing!a!major!increase!in!inZcommuting!by!employees;!it!is!now!almost!
double!that!seen!prior!to!the!recession.!An!estimated!1,000!workers!commute!
up!from!homes!in!the!Loveland,!Fort!Collins,!Boulder!County!and!other!downZ
valley!areas.!!The!direct!financial!cost!to!commute!for!these!workers!averages!
about!$690!per!month;!and!
!
• Has!widespread!problems!among!employers!directly!related!to!housing;!
employers!report!more!problems!filling!jobs!and!retaining!employees!than!prior!
to!the!recession.!
!
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Housing!Inventory!
!
Homes!in!the!Estes!Park!area!are!increasingly!owned!by!second!homeowners!who!often!
compete!for!housing!at!the!same!or!similar!price!points!as!locals.!!The!inventory!is!also!
relatively!old,!creating!challenges!for!local!workers!to!be!able!to!both!afford!to!buy!
homes!and!make!needed!repairs.!Development!of!units!has!also!not!kept!pace!with!
economic!growth!and!housing!demand,!resulting!in!shortages!in!both!the!rental!and!
ownership!markets.!While!the!existing!stock!of!affordable!units!and!employer!assisted!
housing!helps,!more!housing!is!needed!in!the!community!to!address!these!issues.!In!
summary:!
!
• Local!residents!lost!ground!to!second!homeowners!in!the!Estes!Park!area!
between!2000!and!2010,!with!the!percentage!of!residential!units!occupied!by!
locals!declining!between!4!and!6!points.!This!works!against!the!ability!to!grow!a!
yearZround!economy.!
!
• Second!homeowners!and!locals!largely!own!similar!priced!units,!excepting!
condominiums,!which!are!less!preferred!by!local!owners.!!In!higherZcost!
mountain!resort!communities!second!homeowners!typically!own!more!higherZ
priced!units.!
!
• Homes!are!relatively!old,!on!average,!in!the!Estes!Park!area.!!Most!development!
occurred!before!1960!and!between!1990!and!2007.!!Residential!development!
has!started!to!pick!up!again!since!the!recession,!but!has!not!yet!reached!preZ
recession!activity.!
!!
• Construction!has!not!kept!pace!with!demand,!particularly!for!rental!units.!The!
newest!apartment!project!was!completed!12!years!ago.!Despite!the!extremely!
tight!rental!market,!a!rental!project!now!under!construction!was!approved!last!
year!for!25%!fewer!units!than!could!have!been!permitted!(see!Section!5!Z!Rental!
Analysis).!
!
• Just!3%!of!housing!units!in!the!area!are!restricted!with!price/rent!caps!and!
income!targets!to!be!affordable!long!term!for!the!workforce.!
!
• About!29%!of!area!employers!provide!some!housing!assistance!to!their!
employees!either!in!the!form!of!providing!rooms!or!units!to!rent!or!other!
programs.!They!help!house!about!50%!of!their!seasonal!workers!and!9%!of!yearZ
round!workers.!!The!majority!expressed!potential!interest!in!providing!housing!
assistance!in!the!future.!!Further!education!or!a!more!defined!assistance!
program!may!generate!support!from!a!significant!number!of!local!employers.!
!
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Homeownership!Market!Analysis!!
!
The!home!ownership!market!in!the!Estes!Park!area!has!recovered!from!the!recession!
slump!and!is!again!entering!a!robust!period.!The!primary!trends!observed!include:!
!
• Prices!are!now!close!to!preZrecession!peak!levels!and!are!no!longer!affordable;!
an!income!of!over!200%!AMI!is!required!to!afford!a!median!priced!home!listed!
for!sale.!
!
• The!inventory!of!homes!listed!for!sale!is!very!low,!particularly!at!or!below!
$350,000,!although!is!still!over!supplied!at!prices!of!$500,000!and!above.!
!
• 30%!of!homes!listed!for!sale!are!at!least!35!years!old.!
!
• Second!home!buyers!are!responsible!for!a!significant!share!of!home!sales.!They!
are!more!cost!conscious!than!second!home!buyers!in!ski!resort!towns,!which!
results!in!direct!competition!with!the!workforce!for!housing.!Many!plan!to!
eventually!retire!in!the!Estes!Park!area.!
!
• First!time!homebuyers!are!returning!to!the!market,!although!the!availability!of!
homes!they!can!afford!is!very!limited.!
!
Rental!Market!Analysis!
!
There!is!much!concern!about!the!shortage!of!rental!housing!in!Estes!Park!and!rightfully!
so.!Primary!observations!include:!
!
• Multiple!events!have!simultaneously!created!a!surge!in!rental!demand!while!
reducing!the!supply!of!rental!housing,!creating!a!very!tight!market.!
!
• Availability!is!extremely!low;!almost!no!longZterm!rentals!were!available!during!
late!fall!and!early!winter!when!employment!is!low.!
!!
• Rents!are!rising!after!being!flat!during!the!recession,!and!steeper!increases!are!
likely!in!the!future!due!to!such!limited!availability.!
!
• Turnover!is!decreasing;!renters!have!so!few!choices!that!they!remain!in!units!
even!if!they!no!longer!meet!their!household’s!needs.!Availability!has!become!the!
only!criteria!when!looking!for!a!place!to!rent.!!
!
• Renter!demographics!are!varied.!!Renters!represent!all!income!levels,!age!groups!
and!occupations,!with!many!families!living!in!rental!housing!and!relatively!few!
singles!and!roommates.!!
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Estes!Park!Housing!Needs!Assessment,!January!2016!
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Housing!Problems!
!
There!are!many!type!of!housing!problems!in!the!Estes!Park!area,!most!of!which!are!now!
worse!than!when!last!measured!in!2007,!the!peak!economic!period!prior!to!the!
recession.!!!
!
• 90%!feel!that!the!inability!of!employees!who!work!in!the!Estes!Park!area!to!find!
housing!they!can!afford!is!a!serious#or#critical!problem.!
!
• Nearly!half!of!workforce!households!(over!2,000)!found!it!very!difficult!the!last!
time!they!moved!to!find!affordable!housing!that!met!their!needs.!About!375!
renters!are!still!searching!for!such!housing.!
!
• Approximately!1,150!workforce!households!live!in!housing!that!is!not!affordable!
based!on!their!incomes.!
!
• Just!over!530!workforce!households!live!in!overcrowded!homes.!
!
• Approximately!930!workforce!households!(21%)!reside!in!housing!that!is!in!fair!
or!poor!condition.!!This!is!much!worse!than!in!2007!when!only!4%!of!residents!
surveyed!indicated!their!residences!were!in!fair!or!poor!condition.!
!
• About!700!renters!were!forced!to!move!or!evicted!in!the!past!5!years!due!to!
changing!circumstances!with!their!rented!home.!!Flood!damage,!rentals!being!
converted!to!shortZterm!rentals,!and!owners!moving!into!their!previously!rented!
homes!are!the!most!commonly!cited!reasons.!
!
• About!630!employees!are!forced!to!commute!and!would!move!into!the!Estes!
Park!area!to!be!closer!to!work!if!they!could!locate!suitable!and!affordable!
housing.!!Many!of!these!households!fall!within!the!younger!professionals!and!
family!demographic!that!the!area!has!been!losing!in!recent!years.!
!
Housing!Needs!and!Gaps!
!
Between!1,480!and!1,690!housing!units!are!needed!to!address!current!workforce!
housing!shortages!and!keep!up!with!future!demand.!This!averages!about!300!to!340!
units!per!year,!which!is!well!above!the!number!of!residential!building!permits!issued!
during!any!one!of!the!last!five!years.!!This!is!also!almost!twice!the!estimate!presented!in!
the!2008!Housing!Needs!Assessment,!primarily!because!unfilled!jobs,!inZcommuters!
wanting!to!move!to!the!area,!overcrowding,!and!the!number!of!retiring!employees!have!
increased.!!
!
!
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Estes!Park!Housing!Needs!Assessment,!January!2016!
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Given!the!breadth!of!housing!problems!identified!above,!adverse!community!impacts!in!
terms!of!loss!of!younger!workers!and!families,!and!employer!and!employee!frustrations!
expressed!in!relation!to!housing!problems,!it!is!not!surprising!that!this!large!gap!exists.!
!
Summary!of!Housing!Needs!
CatchOUp!670!
Overcrowding!160!
InZcommuters!290!
Unfilled!jobs!220!
KeepOUp!810!to!1,020!
Retiring!employees!520!
New!jobs!290!to!500!
TOTAL!through!2020!1,480!to!1,690!
!
Both!ownership!and!rental!housing!are!needed.!The!precise!ratio!constructed!is!a!
reflection!of!housing!policy!as!well!as!needs;!but!the!table!below!recommends!a!larger!
focus!on!rental!units!in!the!near!term!given!prevailing!market!problems,!needs!and!
trends.!
!
Summary!of!Housing!Needs!by!Own/Rent!Through!2020!
!!!Low!High!
Units!needed!through!2020!1,480!1,690!
Ownership!590!650!
Rental!890!1,040!
!
• About!39%!of!units!provided!should!be!for!homeownership:!!
!
o Homeownership!supports!yearZround!residency!and!allows!residents!to!
invest!in!and!help!build!a!more!stable!community.!!
o Affordable!homeownership!prices!should!range!between!$115,000!and!
$350,000!for!working!households!(50%!to!150%!AMI).!
o Preferred!product!types!are!singleZfamily!homes,!townhomes,!and!
duplexes.!
!
• Rentals!are!in!tight!supply!and!in!high!demand.!!
!!
o Rentals!support!businesses!in!need!of!workers!and!help!new!residents!
get!a!foothold!in!a!community.!
o While!no!rentals!are!available!at!any!price!point,!most!new!units!should!
be!priced!below!about!$1,250.!
o Renters!want!pets.!Renters!also!want!their!units!to!be!kept!well!
maintained!and!in!good!repair.!
!
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Estes!Park!Housing!Needs!Assessment,!January!2016!
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Recommendations!
!
The!following!recommendations!provide!guidance!on!what!should!be!done.!How!the!
recommendations!are!to!be!accomplished!is!covered!later!in!this!section!under!
“Implementation!Strategies.”!
!
• Allocate!the!resources!needed!to!make!workforce!housing!a!priority!with!a!
commitment!to!figure!out!“how”!to!build!homes,!not!“if”!workforce!housing!
should!be!built.!
!
• Immediately!initiate!work!on!the!development!of!additional!rental!units!that!are!
scattered!throughout!neighborhoods!in!the!community!(accessory!units),!on!site!
as!part!of!commercial/institutional!developments,!and!in!apartment!complexes.!
Create!diversity!in!the!rental!inventory!in!unit!type,!location!and!income!
targeting.!
!
• Pursue!the!development!of!additional!ownership!housing!immediately,!though!
only!consider!condominiums!in!unique!situations!like!the!downtown!area!and!
provided!that!mortgage!financing!is!approved!for!the!units.!Townhomes,!
duplexes!and!singleZfamily!homes!in!neighborhoods!with!the!amenities!desirable!
by!families!should!be!a!high!priority.!
!
• Create!opportunities!to!effectively!use!limited!land!and!financial!resources!for!
workforce!housing.!Do!not!let!opposition!by!the!vocal!minority!and!unfounded!
fears!unnecessarily!reduce!the!opportunities!that!exist.!!
!
• Develop!deed!restrictions!that!can!be!applied!uniformly!to!ownership!housing!
for!the!workforce!and!that!include!employment!requirements.!ProjectZbyZproject!
rules!would!be!time!consuming!and!expensive!to!oversee.!The!restrictions!
should!make!affordability!permanent.!
!
• Engage!the!community,!build!momentum!and!develop!capacity!to!implement!
strategies!over!the!long!term.!Short!of!another!deep,!multiZyear!recession,!
workforce!housing!availability!is!not!going!to!significantly!improve.!All!efforts!
cannot!be!the!responsibility!of!the!Estes!Park!Housing!Authority!(EPHA).!The!
Town!of!Estes!Park,!Larimer!County,!large!and!small!employers,!private!builders,!
economic!development!groups!and!concerned!citizens!all!need!to!be!part!of!a!
multiZfaceted!work!plan.!!!
!
• Learn!from!other!communities:!
o Organize!site!visits!by!elected!officials!and!community!stakeholders!to!
wellZdeveloped! higher! density! housing! projects! to! educate! them! that!
higher!densities!can!be!attractive!and!effective!in!mountain!communities.!
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!!!
o Attainable!housing!fees,!incentives!to!build!affordable!housing,!
employment!restrictions!on!workforce!housing,!attainable!housing!
guidelines!and!housing!development!regulations!have!been!implemented!
by!peer!mountain!communities.!!There!is!no!need!to!reinvent!the!wheel.!
!
Implementation!Strategies!
!
The!Estes!Park!area!needs!a!comprehensive!array!of!strategies!to!effectively!address!
existing!needs!and!create!housing!for!the!workforce!as!the!community!grows!and!
diversifies.!There!is!no!“silver!bullet.”!Key!points!to!note!about!implementation!
strategies:!!
!
• Specific!strategies!typically!address!only!part!of!the!need.!For!example,!Federal!
and!State!subsidies!can!only!be!used!to!house!lowZincome!households.!
!
• Local!funding!sources!typically!address!the!housing!needs!of!moderate/middle!
income!families!who!cannot!afford!homes!provided!by!the!private!sector.!
!
• Some!strategies!may!only!produce!a!few!units!but,!in!combination!with!other!
efforts,!are!key!for!a!diversified!inventory!of!workforce!housing!that!meets!the!
wide!spectrum!of!needs.!
!
• Strategies!include!both!“carrots!and!sticks.”!There!are!no!examples!in!highZcost!
mountain!towns!where!incentives!and!public!funding!alone!have!been!sufficient.!
Sharing!the!responsibility!for!producing!workforce!housing!with!new!commercial!
and!residential!development!that!creates!jobs!is!typically!a!key!strategy.!
!
• Commuting!is!not!the!solution.!Housing!costs!in!Loveland,!Fort!Collins!and!other!
areas!of!the!northern!Front!Range!have!been!rapidly!increasing,!and!availability!
has!become!limited.!InZcommuters!from!these!areas!have!the!same!or!higher!
monthly!housing!payments,!on!average,!than!those!living!in!the!Estes!Park!area.!
Strong!job!growth!has!contributed!to!one!of!the!“hottest”!real!estate!markets!in!
the!country.!If!Estes!Park!employees!are!able!to!find!housing!there,!they!often!
find!a!new!job!near!their!home!shortly!thereafter.!!Furthermore,!the!cost!of!
commuting!adds!significantly!to!monthly!expenses!–!it!can!be!more!affordable!to!
pay!50%!more!for!housing!near!work!than!commute!40!miles!each!way.!
!
Recent!research!on!five!mountain!towns!(Aspen,!Breckenridge,!Jackson,!Telluride!and!
Vail)!found!that!each!town!uses!between!12!and!20!strategies!to!produce!workforce!
housing.!While!the!Estes!Park!area!is!unique!from!these!towns!in!some!respects,!it!faces!
many!of!the!same!challenges!–!seasonal!fluctuations!in!the!economy,!lowZwage!tourismZ
related!jobs,!high!housing!costs!driven!upward!by!second!home!buyers,!limited!land!
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availability,!high!development!costs!and!the!requirement!that!housing!development!be!
attractive!and!compatible!with!the!community.!
!
The!11!specific!strategies!recommended!for!the!Estes!Park!area!are!as!follows:!
!
1.#Develop#Strategic#Plan#
!
The!community!should!develop!a!strategic!housing!plan!to!create!policies,!set!realistic!
objectives!and!agree!on!a!course!of!action!that!has!sufficient!community!support!to!
effect!the!changes!needed!for!housing!to!be!developed.!This!report!can!be!used!to!
support!and!inform!this!process!by!providing!key!information!on!the!needs!and!demand!
for!housing!and!why!the!housing!problem!needs!to!be!addressed.!!Key!elements!that!
the!Strategic!Plan!should!include!are:!!
!
• A!vision,!goals!and!objectives!for!workforce!housing.!
!
• Assignment!and!acceptance!of!roles!and!responsibilities!that!shares!
responsibilities!among!all!involved!organizations.!
!
• Actionable!tasks!with!realistic!priorities.!
!
• A!public!outreach/education!component!necessary!to!obtain!and!sustain!political!
commitment,!address!neighborhood!concerns,!and!achieve!widespread!
acceptance!of!the!realities!associated!with!housing!the!community’s!workforce.!!
!
• A!process!for!periodically!evaluating,!modifying!and!updating!the!plan.!
!
To!be!successful,!all!organizations!and!the!Town!need!to!work!together!to!implement!an!
important!recommendation!from!the!economic!strategic!plan!–!which!equally!relates!to!
addressing!workforce!housing:!
!
“To! successfully! accomplish! the! Estes! Valley’s! economic! development!
vision!and!goals!will!require!an!unprecedented!level!of!cooperation!and!
communication.!Setting!aside!differences!and!working!together!toward!
greater!goals!is!essential.”2!
!
As!the!EPHA,!EDC,!Town!and!other!organizations!move!forward,!information!from!this!
Housing!Needs!Assessment,!the!economic!strategy!work!of!Avalanche!Consulting,!Inc.,!
and!the!“Summary!of!Estes!Park!Site!Visit:!!Affordable!and!Workforce!Housing!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2!“Estes!Valley!Economic!Development!Strategy,”!Nov.!2015,!Avalanche!Consulting,!p.!16.!
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Observations!(January!19,!2015)”3!should!all!be!used!to!help!define!respective!roles!and!
achieve!collaboration!on!the!common!goal!of!affordable!workforce!housing!in!the!Estes!
Park!area.!
2.#Hire#Housing#Coordinator#
!
To!implement!the!strategies!agreed!upon!through!the!strategic!planning!process,!
additional!capacity!and!expertise!will!be!needed.!Tasks!that!must!be!performed!in!the!
future!if!the!recommended!strategies!are!to!be!successfully!implemented!include:!
!
• Providing!technical!assistance!to!employers!to!help!them!provide!additional!
housing!for!their!employees.!
!
• Managing!the!Housing!Fund.!
!
• Establishing!guidelines!that!pertain!to!a!diverse!inventory!of!workforce!housing!
produced!through!a!variety!of!strategies.!
!
• Continuous!communication!with!community!groups!and!public!officials!about!
who!resides!in!workforce!housing!and!the!many!economic!and!community!
benefits!of!workforce!housing!to!dispel!community!misperceptions.!
!
• Coordinating!among!the!agencies!responsible!for!implementing!strategies!(this!
assumes!the!Housing!Authority!is!not!saddled!with!full!responsibility!for!
implementing!the!Strategic!Plan).!!
!
• Working!with!private!developers!to!incorporate!workforce!housing!in!their!
projects.!
!
• Initiating!ownership!projects!that!target!moderate/middle!income!households.!
!
• Acquiring!sites!for!future!housing!development.!
!
• Coordinating!management!of!developerZconstructed!affordable!units.!This!can!
either!be!done!inZhouse!or!contracted!with!another!entity,!such!as!EPHA,!for!
example.!
!
!#
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
3!Tim!Gagen!(Town!of!Breckenridge),!Laurie!Best!(Town!of!Breckenridge),!Wendy!Sullivan!(WSW!
Consulting),!“Summary!of!Estes!Park!Site!Visit:!!Affordable!and!Workforce!Housing!Observations,”!January!
19,!2015.!!Result!of!a!site!visit!by!a!team!of!housing!practitioners!to!Estes!Park!that!was!organized!by!the!
Colorado!Association!of!Ski!Towns!in!January!2015.!!!
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3.#Guarantee#that#New#Development#Provides#New#Workforce#Housing#
!
Insure!that!new!development!partially!addresses!the!demand!for!workforce!housing!
that!the!development!generates.!Building!commercial!space,!institutional!buildings!and!
residential!units!generates!shortZterm!construction!jobs!and,!most!importantly!from!a!
workforce!housing!perspective,!permanent!positions.!Employees!needed!to!fill!these!
jobs!need!housing,!and!many!Colorado!mountain!towns!(as!well!as!cities!across!the!
country)!share!the!responsibility!for!providing!new!workforce!housing!with!developers,!
typically!through!a!combination!of!requirements!and!incentives.!Given!the!wave!of!new!
development!now!being!considered!for!Estes!Park,!near!term!priorities!should!be:!
!
• Implementing!a!commercial!linkage!program!through!which!housing!would!be!
developed!onZ!or!offZsite,!land!would!be!provided,!or!inZlieu!fees!would!be!
collected.!This!requirement!could!also!be!used!in!combination!with!incentives!
and!act!as!a!catalyst!for!public/private!partnerships.!Commercial!linkage!
programs!in!other!mountain!towns!could!be!used!as!examples.!
!
• Implementing!a!residential!linkage!program/impact!fee,!or!an!inclusionary!
zoning!program!to!require!housing!developers!to!include!homes!that!are!
affordable!and!specifically!restricted!for!workforce!households.!Evaluation!of!the!
potential!effectiveness!of!each!approach!should!be!part!of!the!strategic!planning!
process.!Research!on!these!types!of!programs!in!comparable!communities!
should!be!done!to!understand!tradeoffs.!A!study!that!documents!job!generation!
rates!is!usually!done!when!designing!linkage!programs.!
!
• Adopting!annexation!policies!that!impose!workforce!housing!requirements!as!a!
condition!of!annexation!though!agreements!that!specify!number!of!units,!price,!
type,!owner/renter!mix,!employment!conditions,!etc.!
!
Requirements!can!be!combined!with!incentives!to!lessen!their!impact!on!developer!
profits.!Density!bonuses!to!accommodate!workforce!units!without!reducing!the!number!
of!market!rate!units!and!development!fee!waivers!for!the!workforce!housing!are!
common!incentives.!Incentives!for!workforce!housing!should!be!included!as!part!of!the!
scope!for!the!evaluation!of!the!Town’s!code!by!Logan!Simpson.!
!
!#
98
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!18!
4.#Adopt#Accessory#Dwelling#Unit#Regulations#for#Workforce#Rentals##
!
Accessory!dwelling!units!(ADUs)!are!often!allowed!and!incentivized!in!mountain!towns!
where!land!is!limited!and!preserving!community!character!is!important.!!These!units:!
!
• Typically!provide!longZterm!rental!housing!for!moderate/middle!income!families.!
!
• Rent!for!rates!higher!than!charged!by!apartment!projects,!since!private!rents!
cannot!be!controlled!in!Colorado,!and!the!attractiveness/location!of!the!units!
enables!them!to!command!higher!rents.!
!
• Contribute!to!the!affordability!of!the!primary!residence!by!providing!a!source!of!
income.!!In!other!words,!one!accessary!dwelling!unit!enhances!the!
affordability/availability!of!two!units.!
!
• Fit!well!within!existing!neighborhoods!in!terms!of!architecture!and!scale,!often!
only!need!one!parking!space!given!their!small!size!and!location,!and!can!be!
designed!to!be!compatible!with!various!neighborhood!configurations!through!
attached!and!detached!designs.!
!
• Add!to!attainable!housing!at!no!cost!to!the!Town;!however,!Town!incentives!
increase!effectiveness.!
!
5.#Create#Workforce#Housing#Fund#with#Dedicated#Revenue#Source#
!
As!called!for!in!the!November!2015!Estes#Valley#Economic#Development#Strategy,!local!
funding!is!necessary!to!address!the!broad!spectrum!of!workforce!housing!needs!in!the!
Estes!Park!area.!With!lowZincome!limits!imposed!on!Federal!and!State!grant/loan!
programs,!local!funds!are!needed!to!bridge!the!gap!between!those!limits!(60%!Z!80%!
AMI)!and!where!the!free!market!serves!(near!150%!AMI!for!ownership).!Sources!of!
dedicated!revenue!in!Colorado!mountain!towns!include:!!
• Property!taxes!
• Sales!taxes!
• Real!estate!transfer!taxes.!New!taxes!cannot!be!levied,!but!real!estate!transfer!
assessments!(RETA)!can!be!negotiated!at!annexation!or!subdivision.!
• Development!excise!taxes!
• Impact/linkage!fees!
!
All!taxes!in!Colorado!must!now!be!approved!by!voters.!Almost!all!of!the!taxes!dedicated!
to!housing!were!approved!prior!to!this!requirement.!Summit!County!is!the!exception,!
where!72%!of!voters!reZauthorized!a!housing!sales!tax!and!development!impact!fee!in!
November!that!was!originally!approved!in!2006.!
!
99
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!19!
Fees!can!only!be!assessed!when!there!is!a!direct!link!between!the!fee!and!the!use!to!
which!it!is!applied.!!A!white!paper!summarizing!workforce!housing!taxes!and!fees!and!
explaining!the!issues!associated!with!each!type!can!be!downloaded!at!
http://reesconsultinginc.com/examplesdownloads/.!
!
Several!Colorado!communities!are!now!considering!charging!fees!on!shortZterm!
vacation!home!rentals!to!help!address!workforce!housing!problems.!Estes!Park!should!
join!forces!with!other!communities!and!potentially!seek!State!legislation!authorizing!the!
assessment!of!these!fees.!!
6.#Amend#Town#Code#to#Allow#and#Encourage#Workforce#Housing#
!
The!municipal!code!of!Estes!Park!deters!the!development!of!workforce!housing!through!
provisions!that!make!them!cost!prohibitive!and!lead!to!underZutilization!of!scarce!land.!
Logan!Simpson,!a!planning!firm!based!on!Fort!Collins,!has!been!hired!to!evaluate!the!
code!and!recommend!revisions.!The!revised!code!should:!
!
• Increase!density!on!multiZfamily!sites!from!the!current!8!units!per!acre!to!12!
units!or!more!per!acre!by!right,!with!higher!densities!permitted!in!PUDs.!
!
• Implement!more!flexible!PUD!standards!to!make!the!most!of!hard!to!develop!
lots!and!improve!the!ability!to!integrate!workforce!housing.!!
!
• Revise!the!Estes!Valley!Development!Code!Attainable!Housing!Density!Bonus!to!
allow!more!than!a!50%!increase!in!permitted!density!to!incentivize!an!increase!in!
private!developer!contributions!to!workforce!housing.!!The!density!bonus!should!
be!permitted!by!right!when!the!developer!meets!specified!affordability!
requirements!to!provide!certainty!to!the!developer!and!the!community.!
!
• Allow!accessory!dwelling!units!in!all!residential!zones!provided!that!they!are!
rented!long!term!to!employees.!
!
• As!part!of!the!downtown!neighborhood!zoning!review,!raise!height!limits!
downtown.!This!can!help!increase!densities,!focus!more!housing!downtown!to!
reduce!sprawl!and,!in!light!of!the!recent!flood!and!pending!FEMA!floodplain!
remapping,!can!help!businesses!replace!potentially!unusable!basements!and!
address!insurance!concerns.!
!
• Implement!noZnetZloss!(or!limited!loss)!provisions!that!require!residential!units!
occupied!by!local!residents!to!be!replaced!if!lost!to!redevelopment.!Similarly!
priced!units!should!be!replaced!on!site!or!another!site,!or!a!feeZinZlieu!of!
replacement!could!be!allowed!under!some!circumstances.!.!
100
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!20!
7.#Utilize#TownNOwned#Land#for#Workforce#Housing#
!
Preliminary!discussions!regarding!the!Fish!Hatchery!property!are!occurring.!Develop!a!
plan!for!this!75Zacre!property!in!conjunction!with!the!Housing!Authority!that!
accommodates!needed!workforce!housing!development!in!balance!with!protecting!
natural!areas!and!trail!access.!The!property!provides!a!unique!opportunity!to!provide!
moderateZ!and!middleZincome!ownership!and!rental!housing!and!is!large!enough!to!
develop!a!mix!of!units!and!densities!to!meet!a!variety!of!needs.!!
8.#Encourage#Downtown#Housing#
!
Employee!housing!should!be!developed!in!Estes!Park’s!downtown!area!to:!!!
!
• Respond!to!preferences!of!younger!employees!(e.g.,!Millennials)!to!live!in!
walkable!urban!centers!with!convenient!access!to!shopping,!entertainment,!
activities!and!recreation.!
!
• Provide!high!density,!lower!cost!housing!options!in!an!area!where!it!is!
appropriate!and!reduce!sprawl.!
!
• Add!vibrancy!to!downtown!and!create!yearZround!business!for!restaurants!and!
retailers.!
!
• Be!convenient!to!public!transit.!
!
• Reduce!employee!impacts!on!scarce!parking!downtown.!!Workers!living!within!
walking!distance!of!their!jobs!can!leave!their!cars!at!home.!
9.#Support#and#Expand#Employer#Assisted#Housing#(EAH)#Efforts#
!
As!is!done!already!by!29%!of!employers!in!Estes!Park,!employers!could!share!
responsibility!for!workforce!housing!since!they!directly!generate!housing!demand,!
benefit!from!a!reliable!workforce,!have!resources!to!leverage!and!have!expertise!in!their!
employees’!needs.!Multiple!approaches!feasible!for!both!small!and!larger!employers!
should!be!provided!including:!!
!
• An!outreach!program,!particularly!for!employees!of!municipal,!county,!special!
district,!emergency!and!medical!service!providers,!the!school!district!and!
suppliers!of!other!essential!services.!
!
• An!education!program!or!outreach!to!employers!to!explain!how!a!master!lease!
program!could!operate.!Some!employers!welcome!the!opportunity!to!master!
lease!units,!whereas!others!do!not!have!a!good!understanding!for!how!the!
101
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!21!
program!works.!Education!could!invite!more!participation.!A!master!lease!
package!could:!
!
o Identify!free!market!units!suitable!for!employees!and!their!pets;!multiple!
units!in!a!single!projects!work!well!since!employees!can!rideshare!
to/from!work!and!to!conduct!errands;!
o Leverage!longZterm!apartment!financing!with!master!lease!agreements;!
o Provide!up!front!development/construction!funding;!
o Allocate!responsibilities!to!property!managers!(not!employers);!
o Build!partnerships,!communication!and!unit!tradeZoffs!among!those!who!
need!summer!housing!for!employees!and!others!that!need!winter!
housing;!
o Provide!sample!lease!and!management!agreements.!!
!
• Technical!assistance!to!employers!that!have!land,!underZutilized!space!or!other!
resources!for!the!development!for!employee!housing.!
!
• Incentives!to!employers!who!provide!housing!for!employees,!particularly!on!site.!
Allow!employers!to!construct!onZsite!units!not!only!for!their!employees,!but!for!
others!in!the!community.!
10.#Continue#Apartment#Development#and#Redevelopment#
!
Market!conditions!(low!vacancies!and!rising!rents)!indicate!additional!rental!units!are!
needed.!Construction!of!Falcon!Ridge!will!only!partially!address!existing!needs.!!
Continued!growth!in!lowZwage!jobs!will!add!to!the!demand,!yet!it!takes!a!minimum!of!
two!to!three!years!to!design/finance/build!an!apartment!property.!As!such,!planning!for!
additional!rental!development!should!start!soon.!!
!
• Identify!sites!where!densities!of!12!to!15!units!per!acre!can!be!achieved.!
!
• Provide!a!range!of!units!priced!under!60%!AMI!up!to!the!needed!80%!AMI,!which!
will!require!funding!other!than!just!Low!Income!Housing!Tax!Credits.!!
!
• Monitor!rental!vacancies!and!rent!rates!to!help!inform!development!and!
financing!decisions.!Learn!from!Falcon!Ridge!when!it!leases.!
!
• Encourage!the!rehabilitation!or!redevelopment!of!the!32!units!at!Park!Ridge!
Apartments!which!were!built!in!1985.!Additional!units!at!this!site!might!be!
feasible.!
!!
102
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!22!
11.#Draft#and#Adopt#Workforce#Housing#Guidelines#
!
Guidelines!should!define:!
!
• Housing!goals!and!objectives.!
!
• Explain!the!Town’s!regulations!in!plain!language.!
!
• Specify!unit!types,!sizes,!ownership!price!points!and!incomes!levels.!
!
• Explain!procedures!and!qualifications!for!persons!interesting!in!owning!or!
renting!workforce!housing.!
!
!
!!
103
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!23!
SECTION!1!O!DEMOGRAPHICS!
!
This!section!of!the!report!provides!population!and!household!estimates,!examines!
growth!and!describes!the!demographic!characteristics!of!households,!including!income.!!
Key!findings!include:!
!
• The!Town!of!Estes!Park!is!the!oldest!community!in!Colorado!(average!age!of!
residents!was!51!years!old!in!2010);!!
!
• The!community!is!losing!families!and!young!and!middleZaged!households!–!these!
are!primarily!workforce!households;!!
!
• Growth!in!the!population!of!persons!over!the!age!of!65!is!outpacing!other!
population!groups!and!leading!to!a!community!even!more!dominated!by!retirees!
than!it!has!been!in!the!past;!and!
!
• The!incomes!of!households!in!the!Estes!Park!area!that!include!at!least!one!
member!of!the!workforce!(referred!herein!as!workforce!households)!are!lower!
than!the!median!incomes!for!Larimer!County,!which!is!important!when!
considering!housing!affordability!and!pricing.!
!
Population!and!Households!
!
Estes!Park!currently!has!a!population!of!approximately!6,300,!which!equates!to!only!
about!2%!of!the!population!in!Larimer!County.!The!larger!Estes!Park!area!has!a!
population!of!about!12,400.!
!
Population!growth!in!the!town!has!been!slower!than!in!the!county!overall!since!2000.!!
As!shown!below:!
!
• Between!2000!and!2005,!the!population!in!Estes!Park!remained!fairly!flat.!!!
!
• A!few!people!were!added!between!2005!and!2007,!with!growth!flattening!again!
through!about!2010.!!!
!
• The!population!in!the!town!of!Estes!Park!grew!at!less!than!oneZhalf!the!rate!in!
the!county!between!2000!and!2010!(8%!versus!19%,!respectively).!!While!growth!
picked!up!between!2010!and!2015,!growth!in!the!town!still!lagged!the!county.!
!
!!
104
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!24!
Change!in!Population:!!2000!to!2015!
!Source:!!Colorado!Dept.!of!Local!Affairs,!US!Census,!Consultant!team!
!
Growth!in!the!larger!Estes!Park!area!has!been!slower!than!in!the!town.!!Between!2000!
and!2010,!the!town!added!about!445!people,!whereas!the!remainder!of!the!Estes!Park!
area!lost!about!125!people.!!!
!
Population:!!2000!to!2015!
!
2000!2010!2015!
%!change!
(2000O2010)!
%!change!
(2010O2015)!
Larimer!County!!251,494!!!299,630!!329,559!19%!10%!
Town!of!Estes!Park!!5,413!!!5,858!!6,306!8%!8%!
Estes!Park!Area!!11,348!!!11,667!!12,398!3%!6%!
Source:!!2000!and!2010!Census;!DOLA!projections!(Larimer!County!2015,!Estes!Park!through!2014);!
Consultant!team!
!
Residents!occupy!about!3,000!housing!units!in!the!town!of!Estes!Park!and!over!5,700!in!
the!Estes!Park!area.4!!Of!the!estimated!5,735!resident!households,!4,438!include!at!least!
one!member!who!works!(workforce!households).!!!
!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
4!The!terms!“households”!and!“occupied!housing!units”!are!synonymous.!
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
To
w
n
o
f
E
s
t
e
s
P
a
r
k
P
o
p
u
l
a
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i
o
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La
r
i
m
e
r
C
o
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t
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P
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l
a
t
i
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n
Larimer County Town of Estes Park
105
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!25!
Households:!!2000!to!2015!
!!2000!2010!2015!%!change!
(2000O2010)!
%!change!
(2010O2015)!
Town!of!Estes!Park!2,541!2,796!3,009!10%!8%!
Estes!Park!Area!!5,104!!!5,395!!5,735!6%!6%!
Source:!!2000!and!2010!US!Census,!DOLA!projections!(Larimer!County!2015,!Estes!Park!through!2014),!
Consultant!team!
!
Household!Characteristics!
!
In!the!Estes!Park!area,!trends!in!household!characteristics!very!much!mirror!population!
trends.!The!distribution!of!households!by!type!reflects!the!older!population!
demographic,!where:!
!
• Couples!without!children!comprise!the!largest!percentage!of!households!in!the!
Estes!Park!area!(43%);!
!
• Relatively!few!households!have!children!(21%!total);!and!
!
• People!living!alone!comprise!over!30%!of!households.!
!
Household!Distribution!by!Type:!!2010!
!Source:!!2010!US!Census!
!
!!
21%
29%
12%
26%
12%
14%
43%
7%
31%
5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Couple with
children
Couple, no
children
Single parent
households
Living alone Other non-family
households
Pe
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P
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a
t
i
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Household Type
Larimer County
Estes Park Area
106
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!26!
Between!2000!and!2010:!!
!
• Family!households!with!children!declined!in!the!Estes!Park!area.!The!Estes!Park!
area!lost!over!900!residents!between!the!ages!of!18!and!44,!plus!almost!200!
children!between!the!ages!of!5!and!17,!indicating!that!families!are!leaving!the!
area.!!!
!
• Households!living!alone!and!couples!without!children!both!increased.!
!
Data!from!the!2014!5Zyear!ACS!indicates!that!couples!with!children!have!continued!to!
decline;!whereas!“other!nonZfamily!households”!(i.e.,!roommate!households)!may!have!
increased!since!2010,!which!is!likely!the!result!of!decreased!rental!availability.!
!
Percentage!Change!in!Household!Composition:!
Estes!Park!Area,!2000!to!2010!
!%!change!
(2000O2010)!
#!change!
(2000O2010)!
Couple!with!children!Z7%!Z62!
Couple,!no!children!8%!178!
Single!parent!households!Z7%!Z28!
Living!alone!17%!246!
Other!nonOfamily!households!Z13%!Z43!
TOTAL!6%!291!
Source:!!2000!and!2010!US!Census!
!
Households!average!just!over!2.1!people!per!household!in!the!Estes!Park!area,!down!
from!about!2.2!people!on!average!in!2000.!!There!is!little!variation!by!tenure,!where!
both!owner!and!renter!households!average!about!2.1!people!in!size.!
!
Household!Size:!!2010!
!
1-person
31%
2-person
47%
3-person
10%
4-person
8%
5+-person
4%
107
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!27!
Source:!!2010!Census!
Hispanic!Population!
!
There!is!a!small!but!fast!growing!Hispanic/Latino!population.!!About!270!households!in!
the!Estes!Park!area!are!headed!by!Hispanic/Latino!persons,!more!than!doubling!since!
2000.!Data!from!the!2014!5Zyear!ACS!indicates!there!has!been!little!change!in!the!
number!of!these!households!since!2010.!!
!
Hispanic/LatinoOHeaded!Households:!!2000!to!2010!
!!Town!of!Estes!Park!Estes!Park!Area!
!!#!%!#!%!
2000!84!3%!121!2%!
2010!219!8%!270!5%!
%!change!!
(2000Z2010)!161%!Z!123%!Z!
Source:!2000!and!2010!US!Census!
!
Seniors!
!
The!town!of!Estes!Park!is!the!oldest!community!in!Colorado.!!Residents!in!2010!average!
about!51!years!of!age.!!Seniors!head!about!oneZthird!of!the!households!in!the!Estes!Park!
area.!Residents!in!the!larger!Estes!Park!area!are!similarly!older.!!The!unique!age!
distribution!is!shown!below:!
!
• Almost!oneZfourth!of!the!population!in!the!Estes!Park!area!is!age!65!or!older,!
compared!to!12%!in!the!county!overall;!
!
Population!Distribution!by!Age:!!2010!
!Source:!!2000!and!2010!US!Census!
6%
16% 14% 14% 12%
27%
12%
4%
12%
6%
9% 9%
37%
24%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Under 5 5 to 17 18 to 24 25 to 34 35 to 44 45 to 64 65 and
over
Pe
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P
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Age of Population
Larimer County
Estes Park area
108
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!28!
!
• Between!2000!and!2010,!growth!was!highest!among!seniors!–!an!increase!of!
35%!(700!residents).!!
!
• Data!from!the!2014!5Zyear!ACS!indicates!that!the!65!and!older!population!has!
continued!to!increase!at!a!faster!pace!than!all!other!age!groups.!
!
Percentage!Change!in!Residents!by!Age:!!!
Estes!Park!Area,!2000!to!2010!
!%!change!
(2000O2010)!
#!change!
(2000O2010)!
Under!5!6%!26!
5!to!17!Z12%!Z193!
18!to!24!Z5%!Z31!
25!to!34!Z5%!Z53!
35!to!44!Z44%!Z823!
45!to!64!18%!664!
65!and!over!35%!729!
TOTAL!3%!319!
Source:!!2000!and!2010!US!Census!
!
Many!of!these!senior!households!were!second!homeowners!in!the!area!and!have!since!
moved!into!their!homes!to!retire!in!the!Estes!Park!area.!About!35%!of!seniorZheaded!
households!moved!into!their!homes!within!the!past!five!years.5!
!
SeniorOHeaded!Households:!!2000!to!2010!
!!Town!of!Estes!Park!Estes!Park!Area!
!!#!%!#!%!
2000!697!27%!1,306!26%!
2010!957!34%!1,815!34%!
%!change!!
(2000Z2010)!37%!Z!39%!Z!
Source:!!2000!and!2010!US!Census!
!
Income!
!
The!2015!area!median!income!(AMI)!in!Larimer!County!is!$79,300.!The!AMI!has!
increased!only!1.1%!per!year!on!average!since!2010,!evidence!that!incomes!are!not!
keeping!pace!with!housing!costs.!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
5!Source:!2015!Household!and!Employee!survey!
109
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!29!
Area!Median!Income:!!!
Larimer!County,!2005!to!2015!
!Source:!!HUD!
!
Households!with!at!least!one!member!who!is!employed!(workforce!households)!earn!a!
lower!median!income!of!about!$64,500!compared!to!the!HUD!median!of!$79,300!for!
Larimer!County.!!This!finding!is!of!particular!importance!when!considering!housing!
affordability.!It!is!due!to!the!concentration!of!lowZwage!jobs!in!the!Estes!Park!area!
compared!with!the!diversity!of!jobs!and!higher!wages!in!the!Fort!Collins/Loveland!area.!
!
To!determine!the!sales!price!or!rent!for!housing!to!be!
attainable!by!the!workforce,!costs!are!compared!to!the!
incomes!of!households!with!employees.!!Of!total!
households!in!the!Estes!Park!area,!about!77%!or!4,438!
households!include!at!least!one!member!who!is!
employed.!This!figure!is!important!to!this!study;!it!is!the!
number!to!which!survey!results!are!applied!when!quantifying!housing!problems.!!The!
income!distribution!of!these!workforce!households!is!shown!below:!
!
• The!majority!of!renters!earn!under!80%!AMI!(57%),!compared!to!only!21%!of!
owners;!
!
• A!similar!percentage!of!owners!and!renters!earn!between!80%!and!120%!AMI;!
and!
!
$69,200
$74,900
$79,300
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
2005 2010 2015
Ar
e
a
M
e
d
i
a
n
I
n
c
o
m
e
Yearly % Change:
1.1%
Yearly % Change:
1.6%
4,438!households!in!the!
Estes!Park!area!have!at!least!
one!employed!person!in!
their!home!
110
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!30!
• Owners!are!much!more!likely!to!earn!incomes!over!120%!than!renters.!
!
These!variations!in!income!between!owners!and!renters!are!typical.!
!
Area!Median!Income:!!Workforce!Households,!Owners!and!Renters!
Estes!Park!Area,!2015!
!!Renters!Owners!TOTAL!
<50%!28%!10%!19%!
50%!to!80%!29%!11%!20%!
80.1!to!100%!15%!14%!14%!
100.1!to!120%!11%!12%!12%!
120.1!to!150%!10%!22%!16%!
Over!150%!7%!31%!19%!
TOTAL!2,214!2,224!4,4386!
Source:!2015!Household!and!Employee!Survey;!2014!5Zyear!ACS;!Consultant!team!
!
!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
6!Based!on!ACS!2014!5Zyear!source!of!income!data,!about!77%!of!Estes!Park!area!households!received!
employment!income!in!2014.!Of!the!estimated!5,735!households!in!the!Estes!Park!area,!this!means!that!
about!4,438!households!include!an!employee.!
111
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!31!
SECTION!2!–!ECONOMIC!CONDITIONS!AND!TRENDS!
!
This!section!presents!information!on!the!number!of!jobs,!average!number!of!jobs!held!
per!worker!and!per!household,!job!trends!and!projections,!seasonality!in!employment!
and!wages.!!It!also!analyzes!commuting!patterns!and!the!influence!of!the!current!
housing!market,!both!for!yearZround!and!seasonal!workers,!on!the!business!community.!!
!
Key!findings!from!in!this!section!include:!
!
• The!Estes!Park!area!has!experienced!stronger!job!growth!than!the!county!overall!
in!past!5!years;!!
!
• The!Estes!Park!area!had!the!most!commercial!development!activity!this!past!year!
than!it!has!seen!since!before!the!recession,!indicating!continued!strong!growth.!!
More!workers!will!be!needed!to!fill!jobs!created!as!local!businesses!expand!and!
more!businesses!are!added,!creating!more!demand!for!housing!to!support!
businesses!and!employees;!!
!
• There!is!high!seasonality!of!employment!in!the!area.!!About!3,000!jobs!must!be!
newly!filled!each!summer!to!meet!seasonal!employment!needs;!!
!
• Jobs!are!dominated!by!lowZpaying!tourism!service!positions,!but!higher!paying!
health!care!jobs!are!growing;!
!
• InZcommuting!has!been!rising!and!is!now!almost!double!that!seen!prior!to!the!
recession.!An!estimated!1,000!workers!commute!up!from!homes!in!the!
Loveland,!Fort!Collins,!Boulder!County!and!other!down!valley!areas.!!The!cost!to!
commute!for!these!workers!averages!about!$690!per!month;!and!
!
• Employers!now!have!more!problems!filling!jobs!and!retaining!employees!than!
experienced!prior!to!the!recession.!!The!scarcity!of!housing!available!for!the!
workforce!in!the!area!is!adversely!affecting!at!least!85%!of!all!employers!and!
impacts!employees!holding!entryZlevel!through!midZmanagement!positions.!
!
• The!“Estes!Valley!Economic!Development!Strategy”!report!was!completed!by!
Avalanche!Economic!Strategies!in!Nov.!2015.!Its!conclusions!are!very!much!in!
line!with!this!study!–!to!help!support!a!yearZround!economy,!help!businesses!
stay!afloat!and!improve!offZseason!services!to!residents,!the!lack!of!workforce!
housing!availability!must!be!addressed.!Addressing!workforce!housing!is!one!of!
the!top!three!priority!recommendations.!
!
!!
112
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!32!
Number!of!Jobs!and!Projections!
!
In!2015,!an!average!of!7,570!jobs!were!located!in!the!Estes!Park!area.!Recent!local!job!
growth!has!placed!increased!pressure!on!workforce!housing!needs.!!Anticipated!
continued!job!growth!and!new!commercial!construction!will!only!increase!this!pressure!
in!the!future.!In!summary:!
!
• Jobs!in!the!County!fully!recovered!from!losses!during!the!recession!by!2012.!
!
• Jobs!grew!at!a!faster!rate!in!the!Estes!Park!area!between!2010!and!2015!than!in!
Larimer!County.!!Commercial!construction!began!picking!up!in!2011!after!the!
recession,!with!the!most!activity!seen!this!past!year!than!has!occurred!in!at!least!
the!last!five!years.!Based!on!surveys!conducted!in!the!spring!of!2015,!about!30%!
of!employers!in!the!Estes!Park!area!increased!their!employment!in!the!region!
during!the!past!five!years.7!
!
• If!growth!occurs!at!the!same!rate!projected!for!the!County!through!2020,!
another!700!jobs!will!be!added!in!the!Estes!Park!area.!If!growth!continues!at!a!
faster!rate,!then!about!1,300!jobs!will!be!added.!About!41%!of!existing!area!
employers!expect!to!increase!their!employment!over!the!next!five!years.8!
!
Jobs!Estimates!and!Projections:!!2007!to!2020!
!!!!!!!!!!!!Avg!Yearly!%!growth!
!!2000!2007!2010!2015!2020!2010O
2015!2015O2020!
Larimer!
County!154,580!168,255!165,263!188,707!207,037!2.7%!1.9%!
Estes!Park!
Area!6,499!5,552!6,042!7,571!8,306!–!8,868!4.6%!1.9%!Z!3.2%!
Source:!Colorado!Dept.!of!Local!Affairs,!QCEW!zip!code!files,!ESRI!Business!data,!Consultant!team!
*Job!growth!estimates!for!Estes!Park!area!in!2020!is!based!on!the!State!Demographer’s!projections!for!
Larimer!County.!
!
Based!on!planned!and!pending!commercial!
development!projects!in!the!Estes!Valley!and!
continued!economic!development,!an!increased!need!
for!workers!is!expected!to!continue!in!the!near!term.!
!
!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
7!Source:!!Feb/Mar!2015!Estes!Valley!Community!Survey,!“Estes!Valley!Economic!Development!Strategy,”!
Nov.!2015,!Avalanche!Consulting.!
8!Id.!
Growth!in!jobs!has!
outpaced!growth!in!housing!
units,!a!leading!cause!of!the!
current!housing!shortage.!
113
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!33!
Planned!and!Pending!Commercial!Projects:!!Dec.!2015!
Project!Description!
EPMC!Wellness!Center!Phase!I!wellness!center!and!hotel!under!construction;!hotel!
approved!for!Phase!II.!
Stanley!Events/Wedding!Pavilion!Under!construction!
Performing!Arts!Center,!
Horror!Museum!
43,000ZsquareZfoot!Stanley!Film!Center!and!horror!museum;!
state!funding!credit!approved!
Murphy’s!River!Lodge!expansion!Under!review;!some!employee!housing!proposed!
Estes!Park!Resort!expansion!Under!review!
Rocky!Mountain!Performing!Arts!
Center!and!Hotel!!Under!review;!theatre,!hotel!and!commercial!space!
Safeway!addition!and!remodel!PreZApplication!sketch!plan!received!
Community!Recreation!Center!
1%!Mill!levy!passed!by!voters!Nov.!2015;!to!include!space!for!
childcare!and!youth!sports,!yearZround!recreation,!senior!
services,!fitness!and!wellness!services,!library,!and!other!
amenities!
Source:!!Community!Development!and!Town!Manager!interviews;!Current!Applications,!available!at:!
https://www.colorado.gov/pacific/townofestespark/currentapplications;!
!
Seasonality!
!
The!high!summer!seasonality!of!the!economy!and!
workforce!in!the!Estes!Park!area!was!highlighted!by!a!
recent!study!completed!by!Avalanche!Consulting.!This!
study!found!through!surveys,!interviews,!focus!groups,!
and!conversations!with!members!of!the!community!a!
strong!desire!for!a!“yearZround!economy”!to!help!
businesses!stay!afloat!and!improve!offZseason!services!to!residents.!The!study!found!
that!to!be!economically!viable!and!support!this!direction,!the!lack!of!workforce!housing!
availability!must!be!addressed.!
!
In!the!interim,!businesses!currently!recruit!and!will!continue!to!need!to!recruit!a!
significant!number!of!employees!each!summer.!!As!shown!in!the!below!chart,!there!is!an!
extreme!difference!between!the!number!of!jobs!available!in!the!summer!and!the!
winter:!
!
• Total!jobs!in!the!summer!are!almost!double!those!in!the!winter.!
!
• About!68%!of!employers!report!that!they!hire!seasonal!workers.!!!
!
• Over!5,000!seasonal!jobs!need!to!be!filled!each!summer,!making!up!over!half!of!
total!jobs!in!the!Estes!Park!area!during!that!season.!Only!about!40%!of!seasonal!
3,000!summer!jobs!must!be!
filled!each!year!with!
workers!from!outside!the!
Estes!Park!area.!
114
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!34!
jobs!are!held!by!yearZround!residents!of!the!Estes!Park!area.!This!means!that!
3,000!summer!jobs!must!be!filled!each!year!with!workers!from!outside!the!area!
–!workers!that!need!to!find!housing!
!
• In!the!winter,!16%!of!jobs!are!seasonal,!or!about!880!jobs.!!
!
• Businesses!in!lodging,!retail,!bar/restaurant!and!recreation,!along!with!other!
tourism!services,!are!the!predominate!industries!that!hire!summer!seasonal!
workers.!
!
Seasonality!of!Jobs:!!Estes!Park!Area,!2015
!Source:!!2015!Employer!Survey,!ESRI!Business!data,!Consultant!team!
!
Summer!tourism!is!not!expected!to!decrease!in!the!near!term.!!Rocky!Mountain!
National!Park,!the!largest!tourism!draw!to!Estes!Park,!had!record!visitation!last!year!with!
near!3.5!million!visitors.!This!year,!the!Park!had!over!3.9!million!visitors!through!October!
–!well!surpassing!last!year’s!record.!This!is!a!trend!seen!in!many!resort!communities!and!
it!is!expected!to!continue.!
!
!!
4,630
(48% of jobs)
4,630
(84% of jobs)
5,010
(52% of jobs)
880 (16% of jobs)
0
2,000
4,000
6,000
8,000
10,000
12,000
Summer Winter
Nu
m
b
e
r
o
f
J
o
b
s
Seasonal jobs
Year round jobs
115
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!35!
Yearly!Visitation!to!Rocky!Mountain!National!Park:!!2000!to!2014!
!Source:!!Rocky!Mountain!National!Park,!National!Park!Service!
!
Unfilled!Jobs!
!
With!the!shortage!of!housing!in!the!area,!employers!have!reported!increased!difficulty!
recruiting!and!retaining!workers!to!fill!positions.!With!unfilled!positions,!this!decreases!
the!ability!for!a!business!to!provide!quality!services!and!reduces!their!ability!to!generate!
needed!revenue!to!stay!open.!
!
• In!November,!nearly!700!jobs!were!unfilled!in!the!Estes!Park!area!–!about!13%!of!
all!jobs.!!!
!
• About!1,000!jobs!were!unfilled!last!summer!(11%!of!all!jobs).!!!
!
Unfilled!Jobs:!!Estes!Park!area,!Summer!and!Fall/Winter!2015!
!!Summer!2015!Fall/Winter!2015!
!!#!Unfilled!%!Unfilled!#!Unfilled!%!Unfilled!
Year!round!jobs!540!12%!480!10%!
Seasonal!jobs!480!10%!210!23%!
TOTAL!1,020!11%!690!13%!
Source:!2015!Employer!survey!
!
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
116
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!36!
The!ability!for!employers!to!fill!these!jobs!has!been!getting!more!difficult!in!recent!
years.!!Over!oneZhalf!of!employers!stated!recruiting!and!retaining!employees!has!gotten!
harder!over!the!past!three!years.!
!
“To!what!extent!has!your!ability!to!find!and!retain!qualified!employees!!
changed!over!the!past!three!years?”!
!Source:!2015!Employer!survey!
!
By!far!the!number!one!difficulty!noted!by!employers!in!being!able!to!recruit!and!retain!
employees!is!the!lack!of!housing!that!is!available!and!affordable!for!the!workforce.!
Other!limiting!factors!included:!
• Lack!of!childcare;!
• Low!wages!and!lack!of!yearZround!
positions;!
• Transportation,!particularly!
between!Town!and!down!valley!
where!commuting!workers!live;!
• The!seasonality!of!town!activity;!
and!
• Lack!of!a!community!center.!
!
Jobs!and!Earnings!by!Sector!
!
Jobs!in!Estes!Park!are!dominated!by!three!primary!sectors:!
!
• Accommodation!and!food!services!(29%)!
• Health!care!and!social!assistance!and!(21%)!
• Retail!trade!(13%)!
Declined/gotten
harder
53%
Stayed about the
same
34%
Improved/gotten
easier
3%
Don’t know/not
applicable
10%
“Lack#of#housing,#not#to#mention#
affordable#housing,#is#the#single#largest#
problem#facing#the#employers#in#the#Estes#
Valley#today.#It#is#the#first#question#I#ask#to#
a#potential#employee#‘Do#you#have#housing#
in#Estes’.#I’ve#trained#too#many#people#who#
think#they’ll#be#able#to#live#in#Estes#once#
they#get#a#job,#then#they#leave#when#they#
can’t#find#housing.”#
Estes!Park!area!employer!
!
117
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!37!
!
These!industries!are!related!to!the!dominate!tourism!economy!and!providing!services!to!
its!growing!senior!population.!!
!
Wages!paid!by!these!various!sectors!show!significant!differences:!
!
• Accommodation!and!food!services!and!retail!services!pay!among!the!lowest!
wages!in!the!Estes!Park!area,!yet!comprise!42%!of!jobs.!!Median!earnings!from!
these!industries!were!about!$19,000!in!2014.!
!
• Health!care!and!social!assistance!jobs!pay!significantly!more,!with!median!
earnings!near!$53,000!in!2015.!!
!
• Of!the!remaining!industries,!the!majority!pay!between!about!$30,000!to!$45,000!
(comprising!25%!of!total!jobs).!!!
!
Jobs!and!Earnings!by!Industry!Sector:!!!
Estes!Park!Area,!2015!
!
!Source:!!ESRI!Business!data,!2014!5Zyear!ACS,!Consultant!team!
Sorted!in!descending!order!of!jobs!by!type!of!industry.!
!
29%
21%
13%
6% 5% 4% 4% 3% 3% 3%
10%
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
0%
5%
10%
15%
20%
25%
30%
35%
Me
d
i
a
n
E
a
r
n
i
n
g
s
(
2
0
1
4
)
%
o
f
T
o
t
a
l
J
o
b
s
(
2
0
1
5
)
% jobs (Estes Park area)
Median earnings
118
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!38!
Jobs!per!Employee!and!Employees!per!Household!
!
The!number!of!jobs!per!employee!and!the!number!of!workers!per!household!are!used!
to!translate!job!growth!into!housing!units!needed!by!workers!to!fill!new!jobs.!
!!
!!
Total!Estes!Park!area!jobs!7,571!
Jobs#per#employee#1.2#
Total!employees!filling!jobs!6,340!
Employees#per#household#1.84#
Total!employee!households!3,400!
Source:!ESRI!Business!data,!2015!Household!and!Employee!Survey!
!
Commuting!!
!
As!shown!above,!the!Estes!Park!area!employs!
about!6,340!people!on!average!yearZround!to!
fill!its!7,571!jobs.!Not!all!jobs!can!be!filled!by!
local!residents,!although!many!employers!
would!prefer!this!was!the!case!to!avoid!the!
problem!of!workers!being!unable!to!find!
housing!once!hired.!
!
• Employers!estimate!that!about!75%!of!their!workforce!resides!within!the!Estes!
Valley.!!!
!
• Just!over!1,000!workers!(21%!of!workers)!commute!up!from!down!valley,!
including!primarily!Loveland,!Fort!Collins,!Lyons!and!other!Boulder!County!areas!
and!Weld!County.!This!is!almost!double!from!an!estimated!11%!of!workers!in!the!
2008!Estes!Valley!Housing!Needs!Assessment.!
!
• Employers!estimate!that!inZcommuting!from!down!valley!increases!slightly!in!the!
summer!months!to!about!26%!of!workers,!mostly!due!to!increased!seasonal!
employment.!!!
!
!!
“If#we#hire#from#the#valley,#they#
don't#last#because#of#the#winter#
commute.##We#would#rather#hire#
a#resident#of#Estes.”#
Estes!Park!area!employer!
!
119
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!39!
Where!Estes!Park!Area!Workers!Live:!!2015!
!#!Workers!%!Workers!
Estes!Valley!4,760!75%!
Neighboring!area*!480!4%!
Outside!area!(Loveland,!Fort!Collins,!
Lyons,!Weld!County,!etc.)!1,020!21%!
TOTAL!6,340!100%!
Source:!!2015!Employer!Survey!
*Incudes!Glen!Haven,!Drake,!Pinewood!Springs!and!Allenspark!
!
Of!those!who!inZcommute!from!areas!down!valley,!employees!travel!an!average!of!30Z
miles!ONE!WAY!to!reach!their!jobs,!or!60Zmiles!roundZtrip.!!Based!on!the!standard!
mileage!rate!set!by!the!Internal!Revenue!Service!for!2015!of!57.5!cents!per!mile,9!this!
equates!to!an!average!commute!cost!of!$690!per!month!per!inZcommuting!employee.!!
Employers!trying!to!fill!lower!and!even!middleZwage!positions!have!a!particularly!hard!
time!attracting!and!keeping!workers!from!outside!the!Estes!Park!area!for!this!reason!–!
the!pay!does!not!compensate!for!the!commute.!
!
Average!Cost!of!Commute!for!Down!Valley!Workers:!!2015!
Average!daily!commute!miles!traveled!ONE!WAY!30!
Average!cost!per!mile!57.5!cents!
DAILY!ROUNDZTRIP!cost!of!commute!!
(60!miles!*!57.5!cents!per!mile)!$35!
MONTHLY!roundZtrip!cost!of!commute!!
(5Zdays!per!week!for!4Zweeks)!$690!
Source:!!2015!Household!and!Employee!Survey,!Internal!Revenue!Service!mileage!rate,!
Consultant!team!
!
There!is!a!perception!by!many!that!workers!
who!commute!from!Loveland,!Fort!Collins!or!
other!larger!communities!prefer!to!do!so!
because!they!choose!to!live!in!these!
amenityZrich!areas.!!The!data!from!
interviews!and!the!household!and!employer!
survey!conducted!as!part!of!this!study!
indicate!otherwise.!!While!some!do!prefer!to!reside!in!their!downZvalley!community,!
these!households!are#in#the#minority.!!!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
9!The!IRS!standard!mileage!rate!for!business!is!based!on!an!annual!study!of!the!fixed!and!variable!costs!of!
operating!an!automobile,!including!depreciation,!insurance,!repairs,!tires,!maintenance,!gas!and!oil.!
“All#of#my#current#employees#want#to#
live#here,#thus#their#earnings#would#
be#spent#here#vs#in#the#valley.##It#
affects#us#on#many#levels.”#
Estes!Park!area!employer!
!
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• About!62%!of!inZcommuting!workers!(630!total)!would!prefer!to!live!in!the!Estes!
Valley!if!they!could!find!housing!that!they!could!afford.!
!
• Of!the!38%!that!would!not!move,!most!indicated!they!prefer!living!in!their!
current!community!(79%).!!Another!7%!presently!reside!closer!to!the!place!of!
work!of!others!in!their!household.!!The!remainder!would!not!move!for!reasons!
including!weather,!quality!of!schools,!and!overall!high!cost!of!living.!
!
The!below!table!shows!some!characteristics!of!inZcommuters:!
!
• InZcommuters!are!predominately!employed!in!government!and!health!
care/social!service!professions.!!A!higher!percentage!of!inZcommuters!are!in!
health!care,!professional!services!and!other!services!than!local!Estes!Park!area!
workers.!Retail!and!restaurant!wages!are!generally!too!low!to!cover!the!cost!of!
commuting.!
!
• About!oneZfourth!of!inZcommuters!earn!less!than!50%!AMI.!!The!median!income!
of!commuting!employees!is!$60,000/year;!slightly!lower!than!that!for!local!
workers!($65,000/year).!!
!
• InZcommuters!are!relatively!new!employees!to!the!Estes!Park!area,!with!64%!
having!worked!in!the!area!for!less!than!3!years.!Many!inZcommuters!leave!their!
jobs!within!a!few!years!if!they!are!unable!to!find!housing!closer!to!their!jobs.!
!
• About!57%!of!inZcommuters!rent!their!homes!compared!to!50%!of!local!workers,!
meaning!that!inZcommuters!are!not!necessarily!commuting!because!they!own!
homes!down!valley.!!Many!of!them!want!to!live!in!the!Estes!Park!area!(62%),!but!
are!just!unable!to!find!housing.!
!
!!
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Characteristics!of!InOCommuters:!!2015!
!
Type!of!Employment!
!Source:!2015!Household!and!Employee!Survey!
!
Income!and!Household!Characteristics!
!!%!inO
commuters!%!local!!!%!inO
commuters!%!local!
HOUSEHOLD!TYPE!!!AMI!!!!!
Adult!living!alone!8%!18%!<50!25%!18%!
Couple!with!child(ren)!29%!32%!50Z80!22%!20%!
Couple,!no!child(ren)!36%!29%!80Z120!22%!28%!
Immediate!and!extended!family!!11%!8%!Over!120!31%!35%!
Single!parent!with!child(ren)!11%!5%!Median!income!$60,000!$65,000!
Other!6%!8%!
!!!YEARS!EMPLOYED!in!the!Estes!Park!area!TENURE!!!!!
Less!than!1!year!24%!8%!Own!43%!50%!
1!up!to!3!years!40%!20%!Rent!57%!50%!
3!up!to!5!years!17%!14%!
!!!5!up!to!10!years!10%!18%!
!!!10!years!or!more!10%!39%!
!!!Source:!!2015!Household!and!Employee!Survey!
0% 5% 10% 15% 20% 25% 30% 35%
Other
Information (newspapers, radio, etc)
Arts, entertainment, recreation
Accommodations/lodging
Utilities/transportation/warehousing
Construction
Non-profit
Finance, Banking/Insurance/Real estate
Bar/restaurant
Retail trade (grocery, apparel, etc.)
Educational services
Other services (personal, daycare, etc)
Professional, scientific, technical services
Health care/social assistance
Government/civic service
Percent of Workers
% local
% in-commuters
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Employer!Workforce!Housing!
Perceptions!
!
Housing!issues!are!now!worse!than!they!
were!during!peak!employment!prior!to!the!
recession.!The!housing!problem!has!not!
“gone!away.”!Compared!to!employer!
perceptions!and!problems!encountered!at!
the!time!of!the!2008!Estes!Valley!Housing!Needs!Assessment!(during!peak!preZrecession!
employment),!employers!are!experiencing!an!increased!rate!of!unfilled!jobs!(as!
discussed!above),!more!workers!declining!to!take!positions!and!more!workers!leaving!
their!positions.!!
!
• Employers!are!much!more!likely!to!feel!that!housing!is!the!most!critical!(30%)!or!
one!of!the!more!serious!problems!(55%)!in!the!Estes!Park!area!than!they!did!
during!peak!employment!in!2007,!just!prior!to!the!recession.!A!very!significant!
85%!of!employers!are!seriously!concerned!about!and!impacted!by!this!problem.!
!
Do!you!feel!that!the!availability!of!affordable!workforce!housing!in!the!!
Estes!Park!area!is:!
!Source:!!2015!Employer!survey;!2007!Employer!survey!
!
• About!1,030!workers!were!not!hired!or!left!their!positions!last!year!due!primarily!
to!a!lack!of!housing.!!!
!
• Over!1,100!workers!(16%)!state!that!they!are!“seriously!considering”!leaving!
their!Estes!Park!area!employment!in!part!because!of!the!inability!to!find!suitable!
and!affordable!housing!in!the!area.!!!
!
5%
8%
26%
40%
21%
2%
3%
10%
55%
30%
0% 10% 20% 30% 40% 50% 60%
Not a problem
One of the region’s lesser problems
A moderate problem
One of the more serious problems
The most critical problem in the region
2015
2007
“We#must#address#this#issue#
now...I#am#worried#constantly#
about#being#able#to#staff#my#
office.##I’m#already#worried#about#
next#season,#it#doesn’t#go#away.”#
Estes!Park!area!employer!
!
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o Those!considering!leaving!their!jobs!are!predominately!employed!in!
service!industries!of!bar/restaurant,!accommodations/lodging!and!retail,!
as!well!as!government,!health!care!and!education.!
o These!employees!have!mostly!been!employed!in!the!area!for!1!to!3!years!
(31%).!After!trying!to!locate!suitable!housing!for!a!period!of!time,!they!
are!now!getting!frustrated.!
o They!predominately!earn!under!120%!AMI!–!the!housing!issue!affects!
middle!income!as!well!as!low!income!workers.!
o Renters!are!much!more!likely!than!owners!to!consider!leaving!their!jobs.!!
This!illustrates!the!positive!effect!that!homeownership!can!have!on!
helping!to!stabilize!the!local!workforce!and!reduce!turnover.!
!
Extent!to!which!you!agree!that!you!are!“considering!leaving!your!Estes!Park!area!
employment!in!part!because!of!the!inability!to!find!suitable!housing!that!you!can!
afford!in!the!Estes!Park!area.”!
!Source:!!2015!Employer!Survey!
!
In!addition!to!many!of!the!issues!discussed!above,!employers!noted!the!following:!
!
• LowerZwage!jobs!are!generally!the!hardest!to!fill,!but!employers!often!have!
trouble!hiring!and!retaining!midZlevel!and!professional!positions.!!
!
• Turnover!is!a!widespread!problem!and!particularly!problematic!among!inZ
commuters!who!can!find!work!close!to!their!homes.!Growth!in!jobs!in!the!Fort!
Collins/Loveland/Boulder!County!area!has!made!it!harder!to!keep!employees!
who!commute!from!homes!in!those!areas.!
!
• Turnover!can!impact!all!employment!levels.!The!upper!managers!who!were!
interviewed!for!this!study!representing!the!five!largest!employers!in!the!area!had!
all!lived!in!the!Estes!Park!area!for!less!than!two!years.!!
56%
16%
15%
6%
7%
18%
12%
22%
19%
29%
0% 10% 20% 30% 40% 50% 60%
1 - strongly disagree
2
3
4
5 - strongly agree
Rent
Own
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!
• Employers!report!all!types!of!housing!is!needed!–!seasonal,!year!round!rentals!
that!serve!moderate!income!employees,!and!entry!level!ownership!seem!to!be!
the!most!in!demand,!but!the!shortage!is!extensive.!!Homes!priced!up!to!
$350,000!are!needed.!
!
“Which#of#your#employees#have#the#most#difficulty##
finding#or#affording#housing#in#the#area?”#
%!of!Employers!stating!their!workers!have!a!!
“Major!problem”!finding!housing!
Seasonal!workers!84%!
General!labor!(landscaping,!etc.)!80%!
General!service!(maids,!cooks,!etc.)!80%!
Operations!maintenance!71%!
Entry!level!professionals!71%!
Retail/service!clerks!69%!
Construction/skilled!trades!61%!
Office!support!staff!51%!
MidZmanagement!49%!
Upper!management!45%!
Source:!!2015!Employer!survey!
!
!
!!
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SECTION!3!–!HOUSING!INVENTORY!
!
This!section!provides!an!overview!of!the!housing!inventory,!occupancy!and!ownership!of!
homes!in!the!Estes!Park!area.!!It!includes!information!on!market!rate!units,!affordable!
and!income!restricted!housing!and!employerZassisted!housing!for!workers.!It!also!
discusses!housing!developments!either!under!construction!or!proposed!in!the!Estes!Park!
area.!!!
!
Some!key!observations!from!this!section!include:!!!
!
• Local!residents!lost!ground!to!second!homeowners!in!the!Estes!Park!area!
between!2000!and!2010,!with!the!percentage!of!residential!units!occupied!by!
locals!declining!between!4!and!6!points.!This!works!against!the!ability!to!grow!a!
yearZround!economy.!
!
• Second!homeowners!and!locals!largely!own!similarlyZpriced!units.!
Condominiums,!which!are!less!preferred!by!local!owners,!are!an!exception.!!In!
higher!cost!mountain!resort!communities,!second!homeowners!typically!own!
higherZpriced!units.!
!
• Units!are!relatively!old,!on!average,!in!the!Estes!Park!area.!!Most!residential!
development!occurred!before!1960!and!between!1990!and!2007.!!Home!
construction!has!started!to!pick!up!again!since!the!recession,!but!has!not!yet!
reached!preZrecession!activity.!!
!
• New!construction!has!not!kept!pace!with!demand,!particularly!for!rental!units.!
The!newest!apartment!project!was!completed!12!years!ago.!!
!
• Just!3%!of!housing!units!in!the!area!are!restricted!with!price/rent!caps!and!
income!targets!to!be!affordable!long!term!for!the!workforce.!
!
• About!29%!of!area!employers!provide!some!housing!assistance!to!their!
employees!either!in!the!form!of!providing!rooms!or!units!to!rent!or!other!
programs,!helping!to!house!about!50%!of!their!seasonal!workers!and!9%!of!yearZ
round!workers.!!The!majority!expressed!potential!interest!in!providing!housing!
assistance!in!the!future.!!Further!education!or!a!more!defined!assistance!
program!may!generate!support!from!a!significant!number!of!local!employers.!
!
Housing!Units!–!Number!and!Rate!of!Growth!
!
The!Estes!Park!area!has!just!over!9,200!residential!units,!which!equates!to!about!6%!of!
the!units!in!Larimer!County!as!a!whole.!The!rate!of!growth!in!the!Estes!Park!area!
126
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between!2000!and!2010!has!been!modest!(16%)!compared!to!the!town!of!Estes!Park!
(24%)!and!Larimer!County!overall!(26%).!
!
Housing!Unit!and!Occupancy!Estimates!
!Town!of!Estes!Park!Estes!Park!Area!
!Housing!
Units!
Occupied!
Units!
Housing!
Units!
Occupied!
Units!
2000!3,323!2,541!7,696!5,104!
2010!4,107!2,796!8,902!5,395!
2015!(est)!4,272!3,009!9,260!5,735!
%!change!(2000!to!2010)!24%!10%!16%!6%!
%!change!(2010!to!2015)!4%!8%!4%!6%!
Source:!!2000!and!2010!US!Census,!DOLA!household!estimates!(Larimer!County),!Estes!Park!Building!
permit!data,!County!Assessor!data,!Consultant!team!
!
Occupancy!and!Use!
!
Just!over!60%!of!homes!are!occupied!by!residents!in!the!Estes!Park!area;!the!other!40%!
are!primarily!second/vacation!homes.!!Local!home!occupancy!decreased!in!the!Town!of!
Estes!Park!by!at!least!6Zpercentage!points,!and!by!about!4Zpercentage!points!in!the!
Estes!Park!area,!since!2000.!The!decreasing!occupancy!trend!is!not!in!the!desired!
direction!for!a!community!that!desires!to!create!a!more!yearZround!economy.!
!
Housing!Units!Occupied!by!Locals:!!2000!–!2015!
!Source:!!2000!and!2010!US!Census!
!
While!locals!reside!in!over!60%!of!the!housing!units,!only!53%!are!owned!by!Estes!Park!
area!residents!based!on!the!mailing!addresses!in!Assessor!records.!Renters!who!live!in!
units!owned!by!absentee!landlords!account!for!the!difference.!
76%
66% 68%
61%
70%
62%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Town of Estes Park Estes Park area
%
o
f
H
o
u
s
i
n
g
U
n
i
t
s
t
h
a
t
a
r
e
O
c
c
u
p
i
e
d
2000 2010 2015
127
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!47!
!
Compared!to!the!2008!Housing!Needs!Assessment,!a!lower!percentage!of!homes!are!
owned!by!local!area!residents,!with!a!corresponding!increase!in!other!Colorado!and!outZ
ofZstate!ownership.!
!
Estimated!Owners!by!Place!of!Residence:!!Estes!Park!area,!2015!!
!Source:!!Larimer!County!Assessor,!Consultant!team!
!
The!ownership!pattern!varies!by!type!of!unit.!More!than!half!of!singleZfamily!homes!are!
owned!by!locals.!!Locals!own!just!under!oneZhalf!of!townhomes.!OutZofZarea!owners!
own!the!majority!of!condominiums!and!other!attached!product.!
!
Ownership!of!Homes!by!Type!of!Unit:!!Estes!Park!Area,!2015!
!Source:!!2010!US!Census,!Larimer!County!Assessor,!Consultant!team!
19%
23%
58%
22%
25%
53%
0% 10% 20% 30% 40% 50% 60% 70%
Other Colorado
Other state
Estes Park area
Residential Units
2015
2007
57% 45% 38%
53%
43% 55% 62%
47%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Single Family Townhomes Condominiums/
Multi-family
TOTAL #
%
o
f
H
o
u
s
i
n
g
U
n
i
t
s
Residence Type
Out-of-area owner Local owner
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Rees!Consulting,!Inc.;!WSW!Consulting!!48!
!
Second!homeowners!are!more!likely!to!own!homes!valued!between!$100,000!and!
$200,000,!most!of!which!are!condominiums,!which!are!less!preferred!by!locals.!
Otherwise,!second!homeowners!and!locals!largely!own!similar!priced!units.!Often!in!
resort!communities!we!see!more!second!homeownership!at!higher!price!points!(e.g.!
luxury!homes)!than!locals.!!This!does!not!appear!to!be!the!case!in!the!Estes!Park!area.!
REALTORS®!indicate!this!trend!as!well,!as!noted!in!Section!4!–!Homeownership!Market!
Analysis.!
!
Ownership!of!Homes!by!Value!of!Unit:!!Estes!Park!Area,!2015!
!Source:!Larimer!County!Assessor,!Consultant!team!
!
Age!of!Units!
!
Homes!are!relatively!old!in!the!Estes!Park!area.!!
!
• The!average!year!built!was!in!1975!(40!years!ago).!!!
!
• Almost!oneZfourth!of!units!were!built!prior!to!1960.!!Most!of!these!units!(54%)!
are!rated!as!fair!or!low!quality!in!County!assessor!records,!meaning!repairs!
and/or!upgrades!are!needed.!
!
• Residential!construction!was!strong!in!the!1990’s,!during!which!20%!of!units!
were!constructed,!and!remained!strong!through!about!2007.!
!
• Residential!construction!fell!off!during!the!recession.!!It!began!picking!up!again!in!
the!past!couple!of!years,!but!remains!below!preZrecession!activity.!!
6%
22%
28%
18%
10%
5% 6% 5% 4%
13%
26% 24%
12%
7% 5%
11%
0%
5%
10%
15%
20%
25%
30%
Pe
r
c
e
n
t
o
f
U
n
i
t
s
Home Value
Out-of-area owner
Local owners
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!49!
!
• Relatively!more!home!construction!occurred!in!the!Town!of!Estes!Park!in!the!
1990’s!through!2007!than!in!the!Estes!Park!area!in!total.!
!
Age!of!Units:!!Estes!Park!area,!2015!
Year!Built!Town!of!Estes!
Park!
Estes!Park!
area!
Before!1960!16%!24%!
1960!to!1969!6%!10%!
1970!to!1979!13%!15%!
1980!to!1989!15%!14%!
1990!to!1999!26%!20%!
2000!to!2009!21%!15%!
2010!to!2015!3%!3%!
TOTAL!4,272!9,260!
Average!Year!Built*!1981!1975!
Source:!Larimer!County!Assessor,!Consultant!team!
*Based!on!“adjusted!year!built”!which!reflects!either!the!original!year!of!construction!or!the!year!in!which!
significant!remodels!are!completed.!
!
Types!of!Units!
!
The!majority!of!residential!units!in!the!Estes!Park!area!are!singleZfamily!homes,!most!of!
which!were!built!prior!to!1980!(57%).!!Most!of!the!condominiums!(65%)!and!townhomes!
(89%)!have!been!built!between!1980!and!2010.!!
!
In!the!Town!of!Estes!Park!singleZfamily!homes!and!attached!product!are!about!equal!in!
number.!
!
Housing!Units!by!Type:!!Estes!Park!area,!2015!
!!Town!of!
Estes!Park!
Estes!Park!
area!
Single!Family!53.7%!75.5%!
Townhomes*!25.0%!12.6%!
Condominiums!&!MultiOfamily!21.2%!11.6%!
Mobile!Homes!0.2%!0.3%!
TOTAL!#!4,272!9,260!
Source:!!Larimer!County!Assessor,!Consultant!team!
*Town!classification!and!assessor!classification!of!units!as!townhomes!may!differ.!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!50!
Owner/Renter!Mix!
!
Among!Estes!Park!area!households,!73%!own!their!homes!and!27%!rent.!The!
homeownership!rate!increased!by!2!percentage!points!between!2000!and!2010.!!
Homeownership!in!Larimer!County,!on!the!other!hand,!decreased!slightly.!!
!
Homeownership!Rate:!!2000!and!2010!
!2000!2010!
Larimer!County!68%!65%!
Town!of!Estes!Park!60%!63%!
Estes!Park!area!71%!73%!
Source:!!2000!and!2010!US!Census!
!
Affordable!Housing!
!
A!mix!of!203!incomeZrestricted!rentals!and!74!deedZrestricted!ownership!units!with!
income!and!price!limits!provide!affordable!housing!primarily!for!the!workforce,!though!
also!serve!retirees!and!persons!with!special!needs.!!!
!
• These!277!homes!represent!4.8%!of!the!occupied!housing!units!and!3%!of!total!
housing!units!in!the!Estes!Park!area.!
!
• The!rental!units!are!all!restricted!through!Federal!subsidy!provisions!for!low!
income!households!(≤60%!AMI).!!
!
• The!ownership!units!serve!a!range!from!very!lowZincome!(Habitat!for!Humanity)!
through!middleZincome!families!(120%!AMI!achieved!through!a!density!bonus).!!
!
Additional!information!on!these!homes!is!provided!in!the!Homeownership!Market!
Analysis!and!Rental!Market!Analysis!sections!of!this!report.!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!51!
Affordable!Housing!by!Own/Rent!
!
#!of!
Units!Year!Built!Income!Restriction!
RENTALS!!!30%!
AMI!
40%!
AMI!
50%!
AMI!
60%!
AMI!
80%!
AMI!
100%!
AMI!
120%!
AMI!
Cleave!St.!Apts*!10!2005*!1!!3!6!!!!
!!!!!!!!!!
Falcon!Ridge!48!U/C!4!10!14!20!!!!
Lone!Tree!Village!57!1997!!13!32!12!!!!
Park!Ridge!Apts!32!1985!!!32!!!!!
S.!St.!Vrain!Apts!12!!!!!12!!!!
Talons!Point!44!2003!!18!14!12!!!!
SubOtotal!203!!5!41!95!62!!!!
!!!!!!!!!!
OWNERSHIP!!!!!!!!!!
The!Neighborhood!30!2007!–!
Present!
!!!!!15!15!
Vista!Ridge!30!2006!!!!!30!!!
Habitat!Homes**!15!varies!!!14!!!!!
SubOtotal!74!!!!14!!30!15!15!
Total!277!!5!41!109!62!30!15!15!
*Was!built!in!1932!but!completely!remodeled!in!2005.!!
**One!unit!is!now!under!construction.!
!
The!Pines!was!not!included!in!the!above!inventory!–!24!units!are!rental!restricted!for!
seniors!and!22!are!ownership!without!income!or!occupancy!restrictions.!Refer!to!Needs#
and#Opportunities#for#Housing#and#Care#by!The!Highland!Group!for!additional!
information!on!all!senior!housing!options!in!Estes!Park.!
!
Employer!Assisted!Housing!
!
Employers!in!the!Estes!Valley!contribute!
significantly!to!the!provision!of!workforce!
housing.!While!this!is!the!case!in!many!
Colorado!resort!communities,!compared!to!
them,!a!larger!percentage!of!employers!in!
the!Estes!Park!area!subsidize!or!provide!onZ
site!housing!for!their!employees.!
!
• About!29%!of!employers!reported!
providing!some!sort!of!housing!
assistance!to!their!employees.!!!
!
“The#quality#of#employee#help#
would#be#better#if#there#was#
housing#available.#The#only#reason#I#
have#a#full#staff#is#because#I#
purchased#two#houses#in#the#last#2#
years#for#employees#to#live#in.#I#
would#be#5#people#short#yearPround#
if#I#didn't#have#these#houses,#and#16#
people#short#in#the#summer#
months.”#
Estes!Park!area!employer!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!52!
• Most!employers!that!provide!assistance!own!or!master!lease!units!that!are!
rented!to!employees!(98%).!!Some!provide!down!payment!assistance!and!salary!
stipends/cost!of!living!bonuses.!Other!forms!of!assistance!provided!include!
providing!tents!for!workers!in!the!summer,!RV!pads!and!hookups,!and!assistance!
finding!housing!through!local!contacts.!
!
• The!Town!of!Estes!Park!has!an!innovative!down!payment!program!for!their!
employees!who!qualify,!which!has!been!in!place!since!2002.!!Twelve!employees!
are!currently!in!the!program.!!Over!the!last!couple!of!years,!six!participating!
employees!have!purchased!homes.!
!
Type!of!Housing!Assistance!Provided!by!Employers:!!2015!
%!of!employers!providing!assistance!
Own!units/rooms!occupied!by!employees!77%!
Master!lease!units!that!are!rented!to!employees!21%!
Down!payments!or!help!with!mortgage!6%!
Salary!stipend/cost!of!living!bonus!3%!
Other!21%!
TOTAL!128%!
Source:!!2015!Employer!survey!
*Totals!over!100%!Z!some!employers!provide!more!than!one!form!of!assistance.!
!
• Employers!responding!to!the!survey!provide!assistance!to!about!9%!of!their!
yearZround!workers!and!50%!of!seasonal!workers.!!This!includes!about!600!
workers!housed!by!the!YMCA!and!245!employees!housed!by!RMNP.!
!
Summary!of!Employee!Housing!Assistance:!!2015!
%!of!employers!providing!assistance!29%!!
Employees!Assisted:!#!%!
Year!round!183!9%!
Seasonal!1,129!50%!
Source:!!2015!Employer!survey!
*Numbers!represent!total!survey!responses,!not!total!employment!in!the!Estes!Park!area.!
!
• When!asked!if!employers!would!be!willing!to!provide!assistance!in!the!future!for!
either!their!own!or!other!employees!in!the!community,!about!32%!expressed!
interest.!!A!large!47%!indicated!they!were!uncertain/needed!more!information,!
indicating!that!further!education!or!a!more!defined!assistance!program!may!
generate!more!support!from!local!employers.!
##
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!53!
“In#the#future#would#you#be#willing#to#assist##
with#the#provision#of#workforce#housing?”#
Estes!Park!Area!Employers,!2015
!Source:!!2015!Employer!survey!
!
Proposed!and!Pending!Development!
!
Several!residential!development!projects!are!proposed!or!under!construction!in!the!
Estes!Park!area.!!Most!are!market!rate!developments,!with!a!few!proposing!employee!
housing!units.!These!include:!
!
!#!of!units!Type!of!homes!Price!Point!
Murphy’s!Resort!
(proposed)!
7!Employee!units!Affordable!rentals!
Estes!Park!Resort!
(under!construction)!
Unknown!Resort!expansion!Any!employee!units!
will!be!for!onZsite!
employees!
Mountain!Meadow!
Subdivision!
(proposed!
redevelopment)!
15!Single!family!$400,000+!
MacGregor!Ave.!
Condominiums!
(pending!construction)!
4!Condominiums!Market!rate!
Riverview!Pines!
(proposed!
redevelopment)!
9!Townhomes!Market!rate!
Black!Canyon!Inn!
(proposed!conversion)!
Unknown!Townhome!
conversion!of!existing!
condominiums!
Market!rate,!plus!3!
employee!units!
National!Park!Village!
(proposed)!
10!Employee!units!Unknown:!!rentals!for!
employees!
Source:!Community!Development!Dept.!interviews,!
https://www.colorado.gov/pacific/townofestespark/currentapplications!
Yes, for my
employees only
28%
Yes, for any
employee in the
community
7%
No
18%
Uncertain/need
more
information
47%
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!54!
SECTION!4!–!HOMEOWNERSHIP!MARKET!ANALYSIS!
!
This!section!of!the!report!describes!how!the!home!ownership!market!in!the!Estes!Park!
area!has!recovered!from!the!recession!slump!and!is!entering!a!robust!period.!It!covers!
trends,!market!segments,!sales!activity,!availability,!home!prices!and!affordability,!age!of!
homes!listed!for!sale,!the!performance!of!deed!restricted!housing,!and!mortgage!
availability.!Key!findings!include:!
!
• Prices!are!now!close!to!preZrecession!peak!levels!and!are!no!longer!affordable;!
an!income!of!over!200%!AMI!is!required!to!afford!a!median!priced!home!listed!
for!sale.!
!
• The!inventory!of!homes!listed!for!sale!is!very!low,!particularly!at!or!below!
$350,000,!although!is!still!over!supplied!at!prices!of!$500,000!and!above.!
!
• 30%!of!homes!listed!for!sale!are!at!least!35!years!old.!
!
• Second!home!buyers!are!responsible!for!a!significant!share!of!home!sales.!They!
are!more!cost!conscious!than!second!home!buyers!in!ski!resort!towns!and!many!
plan!to!eventually!retire!in!the!Estes!Park!area.!
!
• First!time!homebuyers!are!returning!to!the!market,!although!the!availability!of!
homes!they!can!afford!is!very!limited.!
!
Overview!of!Market!Conditions!and!Trends!
!
The!ownership!housing!market!has!recovered!from!the!recession.!Prices!for!singleZ
family!homes!now!equal!or!exceed!previous!peak!levels!in!2007.!In!2008,!homes!sales!
dropped!off!sharply.!Prices!declined!then!flattened.!The!turnaround!was!not!clearly!
evident!until!2014!with!strong!gains!in!homes!sales!and!modest!increases!in!home!prices!
in!2015.!
!
The!number!of!units!sold!has!increased!10%!to!12%!compared!with!last!year.!!Buyers!
have!more!confidence!in!the!economy!overall!and!in!the!real!estate!market,!fueled!at!
least!in!part!by!the!“hot”!housing!markets!in!Denver!and!the!northern!Front!Range.!
!
While!homes!priced!at!and!under!$350,000!are!in!very!short!supply,!the!market!remains!
soft!for!homes!priced!at!or!above!$500,000.!Of!the!singleZfamily!homes!listed!for!sale!as!
of!the!end!of!October!2015,!slightly!more!than!half!were!listed!for!prices!exceeding!
$500,000.!The!median!price!of!homes!listed!for!sale!in!November!was!$624,250,!nearly!
double!the!median!price!of!homes!sold!from!January!through!September.!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!55!
!
Market!Segments!and!Buyer!Profiles!
!
The!primary!buyer!segments!in!the!current!market!are!second!home!owners,!local!
residents!and!local!employers.!Investment!buyers!who!purchase!properties!for!the!
purpose!of!renting!them!out!or!otherwise!making!a!profit,!do!not!have!a!significant!
presence.!
!
Second!home!buyers!comprise!a!unique!market!segment!and!are!responsible!for!a!
significant!share!of!home!sales!in!the!Estes!Park!area.!Second!home!buyers:!
!
• Account!for!roughly!35%!to!65%!of!sales!handled!by!REALTORS®!in!the!area.!In!
2015,!50%!of!sales!through!November!went!to!second!home!owners;!
!
• Are!older!(late!40’s!to!late!50’s),!in!their!prime!income!earning!years,!and!
planning!to!retire!in!the!area;!
!
• May!have!family!who!live!on!the!Front!Range!and!are!choosing!Estes!Park!for!
their!second!and!eventual!retirement!home!to!be!nearby;!
!
• Are!typically!more!cost!conscious!than!buyers!of!second!homes!in!Colorado’s!ski!
towns!where!home!prices!are!higher;!
!
• Often!live!on!the!Front!Range,!although!the!percentage!is!decreasing!with!an!
increase!in!interest!from!outZofZstate!buyers.!
!
Although!it!is!too!soon!for!data!to!document,!REALTORS®!feel!that!the!number!of!local!
residents!who!are!buying!is!increasing!not!only!in!absolute!numbers!but!also!relative!to!
second!home/retiree!buyers!compared!to!recent!years.!Most!of!the!locals!who!are!now!
buying!or!looking!to!buy!are:!
!
• Moving!from!a!home!they!already!own!in!the!area.!
!
• Moving!up!into!larger!homes,!although!some!(mostly!empty!nesters!positioning!
for!retirement)!are!downsizing.!
!
• Buying!homes!for!the!first!time.!After!very!few!sales!to!this!segment!of!the!
market!since!the!recession,!about!25%!of!local!residents!who!are!now!
purchasing!homes!are!doing!so!for!the!first!time.!
!
These!two!dominant!market!segments!vary!somewhat,!with!locals!most!often!preferring!
singleZfamily!homes!with!three!bedrooms!and!a!garage!for!up!to!$350,000!in!less!
expensive!subdivisions!that!are!often!out!of!town!but!convenient.!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!56!
!
!Unit!Type!Price!Location!
Local!Workforce!
Household!
Single!family!
3!BR/2!BA!w/!garage!
<$350,000!Less!expensive!subdivisions,!
in!valley!but!out!of!town!
2nd!Home!Buyer!
Future!Retiree!
Condo!±$350,000!Views,!on!the!water,!
“Feeling”!dominates!over!
convenience!
Source:!!REALTOR®!focus!group!
!
Employers!are!also!searching!for!properties!to!buy!as!housing!for!their!employees.!Some!
of!their!efforts!are!frustrated!by!Town!regulations!limiting!the!addition!of!residential!
units!to!commercial!buildings.!
!
Sales!Activity!
!
In!2015,!the!number!of!residential!units!sold!exceeded!the!total!number!sold!in!all!of!
2007,!the!preZrecession!peak!year.!After!reaching!a!low!of!249!sales!in!2009,!over!500!!
units!sold!in!2015.!Sales!of!condominium!units!have!been!slower!to!recover!from!the!
recession!than!sales!of!singleZfamily!homes.!
!
Number!of!Sales,!2006!–!2015!
!!
Source:!Estes!Park!Real!Estate!Newsletter,!Eric!Blackhurst,!Anderson!Realty!and!Management!
!
!!
230 233
188 178 193 210 224 230 249
351
130 136
99
71 70 73
105 106 116
157
0
50
100
150
200
250
300
350
400
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Nu
m
b
e
r
o
f
S
a
l
e
s
Year of Sale
Single family sales Condo sales
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!57!
Home!Prices!
!
SingleZfamily!home!prices!peaked!at!a!median!of!$339,000!in!2008,!dropped!nearly!12%!
the!following!year,!then!flattened,!before!recovering!to!$335,000!in!2014.!The!median!
price!of!singleZfamily!homes!listed!for!sale!in!November!2015!was!$624,250.!The!median!
list!price!was!so!far!higher!than!the!2015!median!sales!price!of!!$352,735!not!because!
prices!escalated!to!that!extent!but!rather!a!function!of!the!inventory!–!lower!priced!
homes!sold!while!homes!priced!over!$500,000!have!remained!on!the!market.!
!
Condominium!prices!have!been!more!volatile!than!singleZfamily!home!prices.!
Condominium!prices!peaked!in!2007,!rising!15%!from!the!prior!year.!Median!prices!then!
dropped!22%!before!bottoming!out!in!2010.!The!median!price!of!condos!has!since!
increased!20%!to!$265,375!and!is!now!about!$20,000!lower!than!the!preZrecession!
peak.!
!
Despite!their!lower!overall!sale!prices!and!greater!price!drop!during!the!recession,!
condominiums!command!higher!median!prices!per!square!foot!($197/sq.!ft.)!than!
singleZfamily!homes!($184/sq.!ft.).!!
!
Price!increases!have!not!been!across!the!board.!Homes!priced!below!$350,000!have!
been!in!high!demand.!Homes!priced!under!$500,000!may!command!full!list!price!and!
bidding!wars!are!becoming!more!common.!Prices!have!not!escalated!to!a!similar!extent!
in!the!upper!price!range.!!
!
Median!Sale!Prices,!2006!–!2015!
!Source:!Estes!Park!Real!Estate!Newsletter,!Eric!Blackhurst,!Anderson!Realty!and!Management!
!
$319,900 $317,500
$339,000
$300,000 $315,000 $303,000 $315,000 $329,500 $335,000 $352,735
$247,500 $284,000 $264,500
$240,000 $221,000
$250,000 $252,900
$227,000 $243,250 $259,900
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Me
d
i
a
n
S
a
l
e
P
r
i
c
e
Year of Sale
Median single family sale price
Median condo sale price
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!58!
Availability!–!Homes!Listed!for!Sale!
!
Housing!availability!has!significantly!decreased!in!the!past!year.!In!late!November,!only!
88!singleZfamily!homes!and!50!condominium/townhomes!were!listed!for!sale,!excluding!
fractional!ownership.!Compared!with!the!446!homes!sold!through!September!2015,!the!
November!inventory!of!138!units!is!less!than!a!3Zmonth!supply!of!housing.!
!
The!homes!still!listed!for!sale!at!prices!under!$500,000!are!often!“quirky”!or!priced!
about!10%!higher!than!their!market!value.!The!homes!tend!to!be!older!and!have!
physical!issues.!Sellers!who!have!recently!listed!their!homes!for!sale!often!expect!prices!
that!are!higher!than!prevailing!due!to!the!low!number!listed!for!sale.!!These!price!points!
may!be!marketable!next!year,!however,!if!current!trends!continue.!
!!
Residential!Units!Listed!For!Sale,!November!2015!
!
!!Town!of!
Estes!Park!
Other!Estes!
Park!Area!
TOTAL!
area!
#!of!Listings!!!!
Condos!50!0!50!
Single!Family!61!27!88!
Total!111!27!138!
Median!Price!!!!
Condos!$295,700!Z!$295,700!
Single!Family!$765,000!$300,000!$624,250!
Overall!$499,000!$300,000!$457,500!
Median!Price/SF!!!!
Condos!$246!Z!$246!
Single!Family!$211!$182!$199!
Overall!$227!$182!$213!
Median!Year!Built!!!!
Condos!2000!Z!2000!
Single!Family!1994!1977!1991!
Source:!!MLS;!area!covered!includes!zip!codes!80515, 80517, 80532 and 80540. !
!
Availability!–!Lots!Listed!for!Sale!
!
The!number!of!land!sales!is!up!significantly,!though!lot!prices!remain!far!below!2007!
levels.!Builders!are!purchasing!most!of!the!lots!for!construction!of!spec!homes!at!prices!
greatly!discounted!from!preZrecession!levels.!These!sales!are!an!indicator!that!
residential!construction!will!be!picking!up,!and!that!construction!jobs!are!likely!to!
compound!the!existing!labor!shortage.!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!59!
Age!of!Listings!
!
Approximately!30%!of!homes!listed!for!sale!were!built!before!1980.!The!average!year!
built!for!all!residential!units!listed!for!sale!this!November!is!1987.!!Unless!significant!
updating!has!been!done!on!these!homes,!investment!in!heating!systems,!appliances,!
roofs!and!other!improvements!will!be!needed,!which!decreases!the!affordability!of!
these!units.!
!
New!single!family!homes!(built!in!2010!or!later)!command!higher!prices!on!a!per!square!
foot!basis!than!other!listings,!but!there!is!no!other!clear!correlation!between!age!and!
price.!
!
Year!Home!Built:!!For!Sale!Listings,!Nov.!2015!
!Single!!
Family!
Multi!
Family!
Total!#!Total!%!Average!
PPSF!(SF)!
Average!
PPSF!(MF)!
Before!1980!33!8!41!30%!$220!$242!
1980O1989!9!8!17!12%!$230!$185!
1990O1999!27!9!36!26%!$259!$266!
2000O2009!18!22!40!29%!$208!$254!
2010!or!later!1!3!4!3%!$346!$244!
TOTAL!88!50!138!100%!$227!$213!
Source:!MLS!
!
Affordability!of!Home!Prices!
!
Even!though!prices!have!not!returned!to!previous!peak!levels,!they!are!still!too!high!for!
most!workforce!households.!A!household!earning!an!income!of!$169,000!(or!about!
217%!AMI!for!Larimer!County)!is!needed!to!afford!the!medianZpriced!single!family!home!
listed!for!sale!in!the!Estes!Park!area.!!Because!the!median!income!of!workforce!
households!is!lower!than!the!Larimer!County!AMI,!an!Estes!Park!workforce!household!
must!earn!262%!of!the!local!AMI!to!afford!the!median!priced!home.!
!
Even!with!prices!that!are!still!much!lower!than!the!preZrecession!peak,!condominiums!
do!not!pass!the!standard!affordability!test.!Incomes!over!100%!AMI!($80,000)!are!
required!to!afford!the!median!price!multiZfamily!unit!listed!for!sale.!!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!60!
Median!Price!of!Residential!Homes!for!Sale!in!Estes!Park!Area!(Nov.!2015)!
Household!Income!Compared!to!Income!Needed!to!Afford!Median!Home!
!
!Source:!HUD,!Consultant!team,!MLS!courtesy!of!Eric!Blackhurst!
!
Of!the!138!residential!units!listed!for!sale!as!of!November,!only!25!were!affordably!
priced!for!households!with!incomes!at!or!below!100%!AMI.!Of!these,!18!were!
condominiums!which!are!typically!not!well!suited!for!families!and!larger!households.!
Buyers!have!few!choices!unless!their!incomes!exceed!150%!AMI.!!
!
Low!income!households!(earning!under!80%!AMI)!have!few!options!for!homeownership.!
Of!the!15!units!that!are!potentially!affordable,!nine!are!condominiums!that!may!have!
cost!prohibitive!homeowners!association!dues,!and!the!units!are!old!(average!year!built!
–!1965),!likely!needing!costly!improvements.!
!
!!
$624,250
$295,700
$169,000
$80,000 $77,800 $77,800
$64,500 $64,500
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
Single Family Multi Family
Ho
u
s
e
h
o
l
d
I
n
c
o
m
e
s
Me
d
i
a
n
H
o
m
e
S
a
l
e
P
r
i
c
e
Median sale price
Income needed to afford median home
Median household income (County)
Median Estes Park Employed household income
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!61!
Affordability!by!Unit!Type:!!For!Sale!Listings,!Nov.!2015!
!Single!!
Family!
Multi!
Family!Total!Units!Percent!of!
Total!
Average!
Year!Built!
<50%!0!0!0!0%!NA!
50%!to!80%!6!9!15!11%!1965!
80.1!to!100%!1!9!10!7%!1997!
100.1!to!120%!7!6!13!9%!1986!
120.1!to!150%!4!9!13!9%!1987!
Over!150%!70!17!87!63%!1989!
TOTAL!88!50!138!100%!1987!
Source:!MLS!courtesy!of!Eric!Blackhurst!
!
Performance!of!Deed!Restricted!Homes!
Vista#Ridge#
!
Project!Description!ZZ!Vista!Ridge!was!developed!by!Estes!Investors,!LLC,!a!partnership!
between!the!Estes!Park!Housing!Authority!and!a!group!of!local!investors.!Of!the!59!
condominiums,!30!were!initially!priced!to!be!affordable!for!households!with!incomes!no!
greater!than!80%!AMI.!This!property!demonstrates!the!marketability!of!deed!
restrictions!and!of!mixing!affordable,!deed!restricted!homes!with!market!rate!units.!
Deed!restrictions!on!one!unit!were!lost!during!foreclosure.!The!remaining!29!deed!
restricted!units:!
!
• Are!price,!income!(80%!AMI!or!less),!resale!and!appreciation!restricted,!but!not!
employment!restricted.!Some!of!the!units!were!sold!to!retirees.!
!
• Have!either!two!or!three!bedrooms,!all!with!an!attached!garage!
!
• Come!with!a!$50,000!soft!second!mortgage!that!is!nonZserviceable!and!would!
only!be!due!if!a!violation!of!the!deed!restriction!were!to!occur,!in!which!case!the!
amount!payable!would!include!10%!interest!from!the!date!of!closing.!!!
!
• Are!limited!to!half!of!market!appreciation!as!determined!by!an!appraisal.!Resale!
prices!can!include!real!estate!agent!commissions!and!preZapproved!capital!
improvements.!
!
• Were!financed!in!part!with!fee!waivers!from!the!Town!of!Estes!Park!and!grants!
from!the!Colorado!Division!of!Housing.!!
!
Rate!of!Sales!–!These!deed!restricted!condominiums!initially!sold!at!the!rate!of!6.25!
units!per!year!but,!with!the!recession,!the!last!five!homes!to!be!completed!were!
temporarily!rented.!ReZsales!are!now!occurring!at!the!rate!of!roughly!five!units!per!year.!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!62!
!
Prices!and!Affordability!Z!The!deedZrestricted!units!were!initially!priced!as!low!as!
$200,000;!however,!construction!costs!rose!sharply,!forcing!prices!upward.!Prior!to!the!
recession,!prices!had!increased!to!between!$220,000!and!$241,000!depending!upon!the!
number!of!bedrooms,!floor!plan!and!inclusion!of!fireplaces.!ReZsale!prices!have!ranged!
from!about!5.5%!to!nearly!12%!higher!than!initial!prices,!during!a!time!when!there!was!
little!appreciation!in!market!prices.!Two!sales!in!2015,!both!for!threeZbedroom!homes,!
were!for!$239,900!and!$271,250.!
!
Initial!and!ReOsale!Prices!at!Vista!Ridge!
Purchase!Price!Resale!
Price!
Increase!
$226,500!$242,515!7.07%!
$225,000!$251,525!11.79%!
$237,932!$250,929!5.46%!
$237,942!$258,000!8.43%!
$205,000!$222,000!8.29%!
$228,000!$245,332!7.60%!
$236,000!$258,415!9.50%!
$228,053!$246,959!8.29%!
Source:!Estes!Park!Housing!Authority!
!
The!freeZmarket!units!were!initially!listed!for!sale!at!prices!ranging!from!$264,500!(3!
units)!to!$325,000.!!They!sold!at!roughly!the!same!rate!as!the!deed!restricted!units!for!
about!$45,000!more!per!unit.!
!
Availability!ZZ!No!homes!are!currently!available!for!purchase.!EPHA!determines!the!
maximum!allowable!resale!price!but!does!not!maintain!a!wait!list.!Units!are!listed!with!
REALTORS®!when!they!become!available;!their!commissions!add!to!the!escalation!in!
prices.!
!
Lessons!Learned!–!EPHA!learned!two!!lessons!from!Vista!Ridge:!
!
• Development!of!deed!restricted!ownership!housing!in!the!future!should!focus!on!
compact!singleZfamily!homes,!duplexes!and!townhomes!that!are!designed!for!
families!rather!than!condominiums.!
!
• Efforts!are!needed!to!educate!the!public!about!who!Vista!Ridge!serves!and!who!
future!deed!restricted!developments!could!house.!Although!Vista!Ridge!has!
performed!well,!there!is!a!perception!that!deed!restrictions!mean!low!income!
housing,!which!is!perceived!negatively!by!some.!!
!
!#
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!63!
The#Neighborhood#
!
Project!Description!ZZ!The!Neighborhood!subdivision,!developed!by!Pawnee!Meadows,!
LLC,!consists!of!32!singleZfamily!residential!lots,!and!two!commercial!lots.!!Utilizing!a!
50%!density!bonus!allowing!12Zunits!per!acre!instead!of!only!8Zunits,!it!provides!new!
singleZfamily!homes!at!the!lowest!prices!in!the!area!without!direct!financial!subsidies.!!
!
• All!units!are!singleZfamily!homes!manufactured!off!site!then!placed!on!
foundations!with!a!crawl!space!or!unfinished!basements.!
!
• Units!each!have!three!bedrooms!in!1,305!square!feet,!but!several!of!the!buyers!
have!removed!one!wall,!eliminating!a!bedroom!and!enlarging!the!living!room.!
!
• 17!homes!are!deed!restricted!for!30!years!for!households!earning!125!%!AMI!or!
less,!with!prices!determined!by!limiting!the!amount!of!income!that!buyers!can!
spend!on!their!housing!payment!to!no!more!than!40%.!There!are!no!limits!on!
capital!improvements!that!can!raise!prices!above!levels!affordable!at!125%!AMI,!
thus!making!it!difficult!for!owners!to!sell!their!homes!at!recoup!their!investment.!!
!
• EPHA!incomeZqualifies!potential!buyers.!!
!
• The!Town!is!allowed!to!charge!0.5%!of!the!sale!price!for!each!transaction!to!
cover!administration!of!the!deed!restrictions.!
!
Rate!of!Sales!–!From!2009!through!2015,!23!homes!sold.!Homes!in!the!two!categories!
initially!sold!at!about!the!same!pace.!The!similar!performance!of!units!in!the!two!income!
categories!is!an!indication!of!the!acceptability!of!deed!restrictions!with!price!caps!and!
evidence!of!the!demand!for!entryZlevel!homeownership!product!at!a!variety!of!price!
points.!
!
Prices!and!Affordability!ZZ!In!2007,!homes!were!listed!for!sale!at!prices!ranging!from!
around!$220,000!to!$240,000.!In!2015,!the!three!homes!that!were!sold!ranged!in!price!
from!$236,480!to!$299,000.!Prices!have!averaged!$266,725!over!the!past!seven!years.!
!
Availability!ZZ!No!homes!are!currently!listed!for!sale.!One!1,792!square!foot!unit!was!
under!contract!in!November!for!$295,000.!!
!
Lessons!Learned!
!
• Single!family!homes!make!it!possible!for!buyers!to!choose!among!a!variety!of!
competitivelyZpriced!mortgages.!
!
• Deed!restrictions!with!income!limits!do!not!greatly!impact!initial!sales!or!resales!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!64!
Mortgage!Availability!
!
Mortgage!lending!has!really!picked!up!in!the!past!15!months!and!lenders!saw!an!
increase!in!construction!loan!activity!this!in!summer!of!2015.!!
!
For!singleZfamily!homes!and!townhomes,!conventional!and!governmentZbacked!
mortgages!are!readily!available!in!the!Estes!Park!area!at!competitive!rates.!
Condominium!financing,!however,!remains!problematic.!Since!the!mortgage!melt!down!
of!2008,!the!industry!has!gone!through!many!changes!that!have!limited!condominium!
financing!primarily!to!portfolio!loans!(i.e.,!loans!not!sold!on!the!secondary!market).!
These!changes!include:!
!
• Enforcement!of!underwriting!criteria!on!the!number!of!shortZterm!rentals!that!
can!be!located!within!the!project.!
!
• Prohibition!of!any!onZsite!rental!offices!–!looks!too!much!like!a!condoZhotel!to!
lenders.!
!
• Tight!limits!on!the!amount!of!commercial!space!that!can!be!within!the!project.!
!
• No!more!“spot”!loans!by!FHA,!USDA!and!VA!in!projects!that!are!not!FHAZ
approved.!!
!
In!the!Estes!Park!area:!
!
• Local!residents!are!most!likely!to!obtain!conventional!(Fannie!Mae/Freddie!Mac)!
mortgages!with!5%!to!10%!down.!
!
• USDA!loans!with!zero!down!were!popular,!but!lending!guidelines!became!more!
restrictive!in!June!and!again!in!October.!!These!changes!along!with!higher!home!
prices!all!contribute!to!making!it!more!difficult!to!qualify!for!a!USDA!loan.!
!
• The!FHA!loan!limit!is!$300,000!which!limits!its!utilization!because!home!prices!
are!too!high!in!Estes!Park.!Three!condominium!projects!are!FHA!approved:!Pine!
Meadow,!Thatchtop!Mountain!and!Vista!Ridge,!although!expirations!are!
forthcoming!and!renewals!are!needed.!
!
Deed!restrictions!on!condominiums!can!be!a!problem!for!conventional!lenders.!The!
restrictions!further!compound!the!difficulty!of!lending!on!condos!although!conventional!
mortgages!have!been!obtained!on!the!deed!restricted!units!at!Vista!Ridge.!The!deed!
restricted!units!at!Vista!Ridge!have!soft!second!loans!with!EPHA!that!requires!FHA!or!VA!
loans!be!obtained.!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!65!
At!least!one!local!bank!provides!portfolio!loans!with!interest!rates!fixed!for!a!maximum!
of!five!years!and!a!20%!down!payment!requirement.!The!lender!has!no!problems!with!
condominiums!or!deed!restrictions.!
!
Qualifying!firstZtime!buyers!can!be!difficult!due!to!credit!problems!and!
seasonal/fluctuating!employment!patterns.!Appraisals,!however,!are!not!typically!a!
problem!these!days!if!appraisers!familiar!with!the!Estes!Park!area!are!used.!Sales!of!
comparable!units!are!typically!adequate!for!documenting!values.!
!
HOA’s!may!have!budgetZrelated!concerns!that!must!be!addressed!in!order!for!mortgage!
lenders!to!provide!loans!on!member!condominiums.!HOA!fees!generally!run!$125!to!
$185!per!month!but!can!be!much!higher.!REALTORS®!perceive!that!some!properties!
charge!higher!HOA!fees!to!“weed!out”!buyers.!
!
!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!66!
SECTION!5!–!RENTAL!MARKET!ANALYSIS!
!
This!section!of!the!report!presents!the!inventory!of!rental!units,!their!condition/age,!
rents,!and!vacancies.!!It!identifies!trends!in!the!occupancy!and!price!of!rental!units!and!
evaluates!both!market!rate!and!affordable!rentals.!!
!
Key!takeaways:!
!
• Multiple!events!have!simultaneously!created!a!surge!in!rental!demand!while!
reducing!the!supply!of!rental!housing,!creating!a!very!tight!market.!
!
• Availability!is!extremely!low;!almost!no!longZterm!rentals!were!available!during!
late!fall!and!early!winter!when!employment!is!low.!!
!
• Rents!are!rising!after!being!flat!during!the!recession,!and!steeper!increases!are!
likely!in!the!future!due!to!such!limited!availability.!
!
• Turnover!is!decreasing;!renters!have!so!few!choices!that!they!remain!in!units!
even!if!they!no!longer!meet!their!households!needs.!Renters!must!take!what!
they!can!get.!
!
• Renter!demographics!are!varied;!renters!represent!all!income!levels,!age!groups!
and!occupations,!with!many!families!living!in!rental!housing!and!relatively!few!
singles!and!roommates.!!
!
Market!Overview!and!Trends!
!
The!rental!market!in!the!Estes!Park!area!has!been!impacted!by!a!“perfect!storm”!of!
factors!that!have!created!the!tightest!market!conditions!in!memory!and!resulted!in!
rising!rent.!!
!
• Increased!Visitors!–!As!is!typical!in!other!Colorado!mountain!resort!towns,!Estes!
Park!is!experiencing!recordingZsetting!visitation.!The!number!of!visitors!during!
peak!summer!months!is!up!and!the!season!is!growing!longer.!In!2015,!October!
was!much!busier!than!in!years!past.!Visit!Estes!Park!is!credited!with!doing!a!great!
job!marketing!Estes!Park.!New!festivals!are!diversifying!the!activities!appreciated!
by!locals!and!visitors!alike.!!Increased!visitation!increases!housing!demand!in!
several!ways:!
!
o Through!the!jobs!generated,!primarily!in!food!service,!accommodations,!
retail!and!recreation;!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!67!
o From!exposure!that!leads!visitors!to!become!residents;!the!more!people!
who!visit!Estes!Park,!the!more!who!want!to!move!there;!and!
!
o Indirectly!through!demand!for!shortZterm!rental!units!and!second!homes!
by!visitors,!affecting!the!availability!of!longZterm!rental!units!for!
residents.!
!
• High!Park!Fire!–!20!homes!were!lost!to!the!fire,!15!of!which!were!occupied!by!
local!residents!who!needed!to!find!alternative!housing.!
!
• September!2013!Flood!–!While!80!homes!in!the!area!were!lost!to!the!flood,!
many!of!these!were!vacation!cabins.!Residents!of!the!area!who!were!displaced!
due!to!access!being!cut!off!needed!rental!housing!short!term!until!roads!and!
bridges!were!reconstructed.!The!flood!has!not!had!a!significant!longZterm!impact!
on!the!rental!market!but!could!still!impact!it!through!changes!in!flood!plain!
boundaries.!
!
• Loss!of!Units!–!At#the#same#time#rental#demand#was#increasing#from#the#factors#
mentioned#above,#the#size#of#the#rental#inventory#declined.!LongZterm!rentals!
occupied!by!the!workforce!have!been!sold!to!new!owners!as!the!market!
recovered!or!converted!into!shortZterm!vacation!home!rentals,!both!of!which!
displaced!renters!and!permanently!reduced!the!supply!of!rental!housing.!
!
Inventory!
!
Half!of!the!workforce!households!in!the!Estes!Park!area!rent,!which!equates!to!2,214!
renterZoccupied!housing!units!that!include!at!least!one!employee.!This!rental!inventory!
exhibits!the!following!physical!and!market!characteristics:!
!
• Rentals!are!primarily!individuallyZowned!condominiums!and!singleZfamily!homes;!
approximately!half!are!professionally!managed!while!the!others!are!
leased/maintained!by!their!owners.!
!
• Apartment!complexes!in!the!area!are!small,!publicly!subsidized,!income!
restricted!and!combined!have!only!155!units!(not!including!apartments!
restricted!for!seniors).!!
!
• There!are!no!free!market!apartment!complexes!in!Estes!Park,!likely!the!result!of!
few!sites,!high!land!costs,!low!density!limits,!high!construction!costs!and!lowZ
wage!jobs!that!constrain!how!much!can!be!charged!for!rent.!!The!largest!market!
apartment!building!identified!has!12!units.!!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!68!
• The!size!of!the!longZterm!rental!portfolios!managed!by!professionals!appears!to!
be!holding!relatively!steady.!!Their!greatest!loss!has!been!the!result!of!the!
recovery!in!the!ownership!market!making!it!now!possible!to!sell!homes!that!
were!rented!during!the!recession.!
!
• Conversion!from!longZterm!into!shortZterm!vacation!rentals!has!not!significantly!
impacted!professionally!managed!units.!Property!managers!demonstrate!to!
owners!that!renting!long!term!generates!higher!revenues!through!lower!
operating!costs!(cleaning,!management!fees,!etc.)!and!higher!occupancy!(year!
round!vs!three!to!four!months).!The!decision!factor!is!usually!the!extent!to!which!
the!owner!wants!the!home!to!be!available!for!personal!use.!!
!
• Sharing!units!between!shortZterm!vacation!renters!and!longZterm!renters!is!
rarely!done!and!does!not!appear!to!be!a!practical!means!for!increasing!the!
number!of!rentals!available!for!the!workforce.!If!the!units!are!used!as!shortZterm!
vacation!rentals!for!the!peak!season,!their!furnishings!and!quality!make!them!
inappropriate!for!workforce!rentals!the!rest!of!the!year.!
!
• Some!second!homes!are!rented!for!8!to!9!months!of!the!year,!with!their!renters!
moving!out!during!the!summer!so!that!owners!can!use!their!homes.!Also,!some!
seasonal!housing!units!that!are!used!for!summer!employees!are!rented!to!other!
employees!the!rest!of!the!year.!!
!
• Seasonality!in!employment!does!not!significantly!impact!the!professionally!
managed!long!term!rental!inventory.!They!do!not!cater!to!seasonal!workers!and!
typically!offer!only!oneZyear!leases.!Construction!workers!often!commute!up!
from!Loveland!and!Fort!Collins!or!are!temporarily!housed!in!Estes!(in!motels!
mostly)!while!working!on!larger!construction!projects.!Professional!property!
managers!and!the!EPHA!almost!exclusively!lease!units!for!the!full!year.!!
!
• The!old!age!of!many!rental!units!is!increasingly!a!concern.!One!apartment!
complex!is!30!years!old!and!in!need!of!rehabilitation!or!redevelopment.!!The!
condos!and!singleZfamily!homes!that!are!used!as!longZterm!rentals!are,!for!the!
most!part,!older!and!many!are!in!need!of!repairs/improvements!(see!Section!6!–!
Housing!Problems).!!
!
Rents!
!
Rents!are!rising!after!holding!steady!during!the!Recession!years.!While!the!Recession!
softened!the!market!with!higher!vacancies!and!more!time!required!to!fill!units,!rents!
decreased!very!little,!if!at!all.!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!69!
Rents!now!average!approximately!$950!for!twoZbedroom!units.!This!includes!market!
and!subsidized!units!combined.!!This!rent!is!considered!to!be!affordable!for!households!
with!incomes!of!at!least!$38,000!per!year,!which!is!equivalent!to!63%!AMI.!!
!
The!highest!rents!charged!for!lowZincome!housing!tax!credit!(LIHTC)!and!other!incomeZ
restricted!apartments!are!roughly!equivalent!to!the!low!end!of!the!free!market!rent!
range!and!significantly!below!market!averages.!!
!
Rents!by!Unit!Size,!November!2015!
!!ProfessionallyO
Managed!
Market!Rents!
Survey!
Rents!
EPHA!
Rents!
1!Bedroom!$600!Z!$900;!
$750!avg.!
$750!$395!Z!$695!
2!Bedroom!$759!Z!$1,200;!
$990!avg.!
$950!$750!Z!$850!
3!Bedroom!$950!Z!$1,600;!
avg.!$1,500!
$1,250!$600!Z!$1,040!
Source:!!Property!Manager!focus!group,!interviews!
!
Rents!are!distributed!across!a!wide!range,!with!most!units!renting!for!between!$500!and!
$1,750!per!month.!!Property!managers!indicated!that!rates!are!not!highly!correlated!
with!location,!which!means!that!the!rents!vary!primarily!based!on!the!quality,!condition!
and!size!of!the!units.!!!
!
Distribution!of!Rentals!by!Monthly!Rent!Paid:!!Estes!Park!Area,!2015!
!Source:!!2015!Household!and!Employee!Survey!
0%
2%
4%
6%
8%
10%
12%
14%
16%
Pe
r
c
e
n
t
o
f
R
e
n
t
a
l
U
n
i
t
s
Monthly Rent Paid
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!70!
!
The!distribution!of!existing!rental!units!by!AMI!affordability!is!generally!in!line!with!
workforce!household!incomes.!!Despite!this,!many!households!are!costZburdened!due!in!
part!to!higherZincome!households!occupying!more!affordable!units,!forcing!lowerZ
income!households!to!pay!more!than!they!can!afford.!This!occurs!more!frequently!when!
there!is!an!insufficient!supply!of!rental!units,!as!is!the!case!in!the!Estes!Park!area!(see!
Section!6!–!Housing!Problems).!
!
Distribution!of!Existing!Rentals!by!AMI!Affordability:!!!
Estes!Park!area,!2015!
!!
Maximum!
Affordable!Rent!
Renter!Income!
Distribution!
Existing!
Rentals!
<50%!AMI!$780!28%!28%!
50O80%!AMI!$1,245!29%!40%!
80O100%!AMI!$1,560!15%!19%!
100O120%!AMI!$1,870!11%!8%!
Over!120%!AMI!Over!$1,870!17%!6%!
TOTAL!Z!100%!100%!
Source:!!2015!Household!and!Employee!Survey,!Consultant!team!
!
Property!managers!are!“getting!more!aggressive”!with!the!rates!they!charge,!now!
raising!rents!when!units!turnover!or!leases!renew.!The!increase!is!moderate,!in!the!
range!of!$25!to!$50!per!month!on!units!with!average!rents!of!$750!to!$1,500.!The!rates!
by!which!rents!are!raised!will!likely!grow!as!long!as!market!conditions!remain!tight.!
!
Availability!
!
Property!managers!indicated!that!the!only!criteria!
renters!now!have!when!looking!for!a!place!to!live!is!
availability.!So!few!units!are!available!as!to!not!give!
renters!choice!in!terms!of!location,!unit!type,!size!and!
amenities.!
!
Out!of!387!market!and!incomeZrestricted!longZterm!rental!units!researched,!only!one!
was!vacant.!This!equates!to!an!extremely!low!vacancy!rate!of!0.3%.!Only!five!units!were!
advertised!on!Craigslist!out!of!2,219!total!rental!units,!which!is!a!vacancy!rate!of!0.2%!
!
!!
“Availability#is#the#only#
criteria.”#
Estes!Park!area!property!manager!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!71!
Units!Listed!for!Rent!on!Craigslist,!December!2015!
Type!Rent!Bedrooms!
Condo!$1,250!2br/1.5!ba!
House!$1,075!3br/2ba!
Townhouse!$1,800!3br/2.5!ba!
Condo!$1,000!1br/1ba!
House!$1,850!3br/2ba!
!
Turnover!and!Wait!Lists!
!
Turnover!is!typically!15%!to!20%!per!year,!but!has!been!declining!as!availability!of!units!
has!decreased.!!There!was!no!turnover!at!two!of!the!Housing!Authority’s!properties!in!
2014.!
!
Turnover!does!not!occur!on!a!regular!“seasonal”!schedule.!The!inventory!of!longZterm!
rentals!is!not!highly!influenced!by!the!seasonal!ebb!and!flow!of!the!workforce.!!Turnover!
is!highest!among!smaller!units!occupied!by!singles.!!
!
When!the!44!units!at!Talons!Point!were!completed!in!2003,!it!had!a!noticeable!impact!
on!the!rental!market.!Given!how!tight!conditions!are!now,!the!same!impact!is!not!
anticipated!when!the!48!units!at!Falcon!Ridge!are!completed.!Some!temporary!
softening!could!occur,!but!will!be!short!term,!if!felt!at!all.!!!
!
Wait!lists!are!long.!One!company!that!manages!54!longZterm!rentals!recently!purged!
their!wait!list!and,!between!September!1st!and!October!30th,!qualified!45!applicants.!!
The!number!of!applicants!on!EPHA’s!wait!lists!exceeds!the!total!number!of!units!
currently!in!the!inventory!and!under!construction!by!over!100!households.!
!
EPHA!Wait!Lists!by!Project!
Rental!Project!
Total!#!
of!Units!
Applicants!on!
Wait!List!
Cleve!St.!10!22!
Falcon!Ridge!(under!construction)!48!!85Z90!
Lone!Tree!57!78!
Talons!Point!44!68!
Total!159!≥250!
Note:!The!Pines!was!not!included!since!it!is!age!restricted!for!seniors,!but!it!has!
a!wait!list!with!34!applicants.!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!72!
Utilities!and!Deposits!
!
About!17%!of!renters!report!that!their!utilities!are!included!with!their!rent.!!For!the!rest,!
utilities!average!about!$155!per!month,!typically!ranging!anywhere!between!$50!up!to!
$250!per!month.!!
!
Property!managers!require!renters!to!place!utilities!in!their!names!and!provide!deposits!
if!required.!Cross!Roads!Ministry,!the!Salvation!Army!and!local!churches,!provide!
assistance!for!low!income!families!who!need!help!with!security!and!utility!deposits.!
!
Distribution!of!Monthly!Utilities!Paid:!!Estes!Park!Area,!2015!
!Source:!!2015!Household!and!Employee!Survey!
!
Renter!Profiles!
!
Length!of!Employment!and!Residency!Z!Most!yearZround!renter!households!have!been!
employed!in!the!area!a!long!time.!Only!about!12%!are!new!workers!who!have!been!
employed!for!less!than!one!year.!!About!oneZthird,!however,!have!lived!in!their!current!
residence!for!less!than!one!year,!indicating!the!relatively!transitory!nature,!whether!by!
choice!or!by!force,!of!renting!in!the!Estes!Park!area.!!
!
!!
0%
5%
10%
15%
20%
Pe
r
c
e
n
t
o
f
R
e
n
t
a
l
U
n
i
t
s
Monthly Cost of Utilities
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!73!
Years!Worked!in!Area!Compared!to!Years!Lived!in!Current!Home:!!!
Renters!2015!
!Source:!!2015!Household!and!Employee!Survey!
!
Household!Type!–!Two!thirds!of!renter!households!are!families.!Many!families!with!
children!rent;!approximately!40%!of!EPHA!renters!and!45%!of!those!who!rent!
professionallyZmanaged!units!include!children.!!
!
Roommate!households!are!not!common,!a!factor!that!distinguishes!Estes!Park!from!
Colorado’s!ski!towns.!EPHA!rarely!serves!roommates!since!twoZincome!households!
without!dependents!typically!have!incomes!exceeding!maximum!limits.!
!
Jobs!Held!–!Renters!hold!all!types!of!jobs.!ProfessionallyZmanaged!units!are!more!likely!
to!house!midZ!and!upperZlevel!employees,!while!EPHA’s!rentals!serve!more!service,!
retail!and!restaurant!employees.!Both!house!many!health!care!providers.!
!
!!
33%
36%
12%
7%
12% 12%
29%
20%
14%
25%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Less than 1
year
1 up to 3 years 3 up to 5 years 5 up to 10
years
10 years or
more
Pe
r
c
e
n
t
o
f
P
o
p
u
l
a
t
i
o
n
Household Type
Years lived in current residence
Years employed in Estes Park area
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!74!
Renter!Profiles!
!ProfessionallyO!
Managed!Units!
EPHA!Residents!
New!to!the!area!<1!yr!10%!10%!
Residents!for!a!few!years!1O5!30%!Z!
Long!term!residents!>5!yrs!60%!Z!
!!!
Young!<30!15%!35%!
Middle!working!yrs!(30O65)!70%!35%!
Seniors!15%!30%!
!!!
Singles!20%!35%!
Roommates!5%!Few*!
Couples!no!kids!30%!25%!
Families!w/!kids!45%!40%!
!!!
Jobs!held!
!
!
!
!
Service!workers!
Health!care!providers!
Teachers!
Mid/upper!managers!
Service/retail/restaurant!
workers!
Health!care!providers!
!
Source:!Property!manager!Focus!Group!
*Roommate!households!usually!have!combined!incomes!over!LIHTC!limits.!
Note:!Percentage!are!approximate,!representing!the!general!profile!of!residents!and!not!the!particular!
occupants!at!any!point!in!time.!
!
Lifestyle!and!Retiree!Renters!–!Few!renters!reside!in!Estes!Park!for!lifestyle!reasons!
without!working.!Second!home!renters!are!also!rare.!!Retirees!do!not!rent!many!
professionally!managed!market!units!(about!15%)!but!are!more!likely!to!live!in!EPHA!
units!(30%).!
!
Affordable/IncomeORestricted!Rental!Housing!!
!
A!total!of!155!apartments!are!located!in!five!complexes!that!can!only!be!occupied!by!
lowZincome!households.!Another!apartment!project!with!48!units!is!under!construction,!
which!will!bring!the!total!to!203!units.!!Three!of!the!203!units!are!for!onZsite!managers!
and!not!income!restricted.!Rents!caps!as!well!as!income!limits!are!determined!annually!
by!Federal!agencies.!Annual!reZcertification!of!the!resident!eligibility!is!required.!
!
Three!of!the!five!complexes!with!a!combined!total!of!161!apartments!were!financed!
with!Low!Income!Housing!Tax!Credits!(LIHTC).!Tax!credits!are!a!particularly!attractive!
form!of!financing!at!this!point!in!time.!As!such,!most!apartment!projects!in!Colorado!
mountain!towns!built!in!recent!years,!or!now!under!construction,!were!financed!using!
LIHTC.!!!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!75!
Rents!for!LIHTC!apartments!are!about!$25!lower!than!the!maximums!allowed.!This!is!not!
due!to!market!conditions,!however,!but!is!rather!done!to!manage!potential!fluctuations!
in!utility!allowances.!If!the!allowances!are!increased!while!CHFA’s!maximum!allowable!
gross!rents!(contract!rents!plus!utilities)!remain!the!same,!the!contract!rents!would!have!
to!be!lowered!to!compensate.!Rather!than!devote!the!time!required!to!lower!rents,!
EPHA!provides!a!small!rent!discount!to!create!a!buffer.!
!
IncomeORestricted!Rental!Complexes!
Name!!Address!!InOService!Date!!!#!Units!
!LIHTC!Family!Properties!!!!!
Falcon!Ridge!!Under!construction!!48!
Lone!Tree!Village!1310!Manford!Ave.!10/24/1997!!57!
Talons!Pointe!1715!Red!Tail!Hawk!Dr.!7/30/2003!!44!
South!St.!Vrain!Apartments!1631!Avalon!Dr.!11/30/1996!!12!
Other!Income!Restricted!Family!Properties!!!!!
Cleave!Street!Apartments!157!Cleave!St.!1932;!rehab!2005!!10!
Park!Ridge!Apartments!1250!Acacia!Dr.!1985!!32!
!!Total:!!203!
Note:!Two!senior!apartment!complexes!are!not!included.!
!
Falcon!Ridge!–!48!units!are!now!under!construction!adjacent!to!Talons!Point!(see!
below).!The!project!was!planned!to!have!two!phases!with!a!total!of!66!units,!yet!
opposition!from!nearby!residents!led!the!town!to!reject!the!bonus!request,!reducing!the!
number!of!units!by!25%.!!The!resulting!density!is!8.7!units!per!acre,!which!is!very!low!for!
an!apartment!property!where!land!is!limited!and!expensive.!The!property!will!be!
attractive,!provide!a!mix!of!oneZ,!twoZ!and!threeZbedroom!apartments!in!flats!and!
townhomes,!and!include!a!clubhouse!and!outdoor!recreation!facilities.!
!
Lone!Tree!Apartments!–!Completed!in!1997,!this!familyZoriented!property!is!located!
between!Lake!Estes/USZ36!to!the!north!and!the!Estes!Park!Golf!Park!to!the!south.!
Townhomes!and!apartments!are!available!at!this!property.!One!of!the!57!units!at!this!
property!is!a!manager’s!unit.!!
!
Talons!Pointe!–!This!44Zunit!apartment!property!is!the!newest!of!the!LIHTC!projects,!
completed!in!2005.!It!is!owned!and!managed!by!the!Estes!Park!Housing!Authority!and!
located!in!the!northeast!corner!of!Estes!Park,!north!of!Lake!Estes!and!USZ34.!!Flats!and!
townhomes!are!offered,!all!of!which!are!income!restricted.!!
!
South!St.!Vrain!Apartments!–!This!12Zunit!property!includes!a!oneZstory!and!a!twoZstory!
apartment!building.!It!is!located!just!off!S.!St.!Vrain!Ave./Rte.!7!on!the!south!end!of!Estes!
Park.!Completed!in!1996,!11!of!the!12!units!are!income!restricted.!It!is!owned!by!a!
private!entity.!!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!76!
Cleave!Street!Apartments!Z!This!historic!10Zunit!building,!owned!by!the!Estes!Park!
Housing!Authority,!was!originally!built!in!1932!and!rehabbed!in!2005!using!Colorado!
Division!of!Housing!grants!and!a!Colorado!Housing!and!Finance!(CHFA)!loan.!While!units!
are!restricted!at!HUDZpublished!AMIs,!the!restrictions!are!not!assigned!to!specific!unit!
types!(one!bedroom,!two!bedroom).!It!is!located!in!downtown!Estes!Park.!
!
Park!Ridge!Apartments!is!subsidized!through!USDA’s!Rural!Development.!Residents!pay!
30%!of!their!household’s!income!for!rent.!The!32!units!are!located!south!of!town.!The!
property!was!built!in!1985,!making!it!the!oldest!apartment!project!in!the!Estes!Park!
area.!It!is!owned!by!an!outZofZstate!company!and!is!in!poor!condition.!The!property!is!a!
likely!candidate!for!rehabilitation!or!redevelopment.!!!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!77!
SECTION!6!–!HOUSING!PROBLEMS!
!
This!section!reports!on!perceptions!in!the!community!about!the!availability!of!
affordable!workforce!housing!and!quantifies!multiple!indicators!of!housing!problems!
ranging!from!affordability!to!overcrowding.!Key!findings!from!this!section!include:!
!
• 90%!of!the!members!of!workforce!households!feel!that!the!inability!of!
employees!who!work!in!the!Estes!Park!area!to!find!housing!they!can!afford!is!a!
serious#or#critical#problem.!
!
• Nearly!half!of!workforce!households!(over!2,000)!found!it!very!difficult!the!last!
time!they!moved!to!find!affordable!housing!that!met!their!needs.!About!375!
renters!are!still!searching!for!such!housing.!
!
• Approximately!1,150!workforce!households!live!in!housing!that!is!not!affordable!
based!on!their!incomes.!!
!
• Just!over!530!workforce!households!live!in!overcrowded!homes.!
!
• Approximately!930!workforce!households!reside!in!housing!that!is!in!fair!or!poor!
condition.!!This!is!much!worse!than!in!2007!when!only!4%!of!residents!surveyed!
indicated!their!residences!were!in!fair!or!poor!condition.!
!
• About!700!renters!have!been!forced!to!move!or!evicted!in!the!past!5!years!due!
to!changing!circumstances!with!their!rented!home.!!Flood!damage,!longZterm!
rentals!being!converted!to!shortZterm!rentals!or!sold,!and!owners!moving!into!
their!previously!rented!homes!are!the!most!commonly!cited!reasons.!
!
• About!630!inZcommuters!would!move!into!the!Estes!Park!area!to!be!closer!to!
work!if!they!could!locate!suitable!and!affordable!housing.!!Many!of!these!
households!fall!within!the!younger!professional!and!family!demographic!that!the!
area!has!been!losing!in!recent!years.!
!
Housing!Problem!Perceptions!
!
When!asked,!“How#do#you#feel#about#the#issue#of#people#who#work#in#the#Estes#Park#area#
being#able#to#find#housing#they#can#afford?”;#nearly!90%!indicated!it!is!a!serious!or!
critical!problem.!This!is!a!very!high,!even!when!compared!to!surveys!in!other!Colorado!
mountain!towns.!A!similar!percentage!of!residents!and!employers!alike!see!workforce!
housing!as!the!most!critical!or!one!of!the!more!serious!problems!in!the!area.!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!78!
Renters!are!more!likely!than!owners!to!rate!the!housing!for!people!who!work!in!the!
Estes!Park!area!as!a!serious!or!critical!problem,!yet!only!1%!of!both!owners!and!renters!
do!not!believe!it!is!a!problem.!
!
“How#do#you#feel#about#the#issue#of#people#who#work#in#the#
Estes#Park#area#being#able#to#find#housing#they#can#afford?”#
!Source:!!2015!Household!and!Employee!survey!
!
Middle!and!upper!income!households!are!just!as!likely!as!low!income!households!to!feel!
that!workforce!housing!is!a!serious!or!critical!problem.!There!is!no!correlation!between!
incomes!and!the!extent!to!which!members!of!workforce!households!feel!housing!is!a!
problem,!which!is!rare.!!Typically!lower!income!households!feel!housing!is!more!of!
problem!than!higher!income!households!–!the!problem!reaches!households!at!all!
income!levels!in!the!Estes!Park!area.!
!
Difficulty!Finding!Housing!
!
Nearly!half!of!employees!surveyed!found!it!very!
difficult!the!last!time!they!moved!to!find!housing!
that!met!their!needs!and!that!they!could!afford.!
The!level!of!difficulty!was!much!higher!among!
renters!than!owners!–!1,260!renters!indicated!it!
was!very!difficult!to!find!housing!they!could!afford!
and!about!375!have!still!not!found!affordable!
housing!that!meets!their!needs.!!
!
1%
4%
15%
53%
28%
1%
0%
6%
35%
58%
0% 10% 20% 30% 40% 50% 60% 70%
I don’t believe it is a problem
One of our lesser problems
A problem among others
needing attention
One of the more serious
problems
It is the most critical problem
Percent of Households
Rent
Own
“I#have#no#rent#because#I#live#in#my#car.#
We#have#been#trying#to#buy#or#rent#a#
house#for#3#years#and#have#not#been#
able#to#find#affordable#housing.#In#
Gunbarrel,#we#paid#$1,000#with#utilities#
included#for#a#onePbedroom#condo.#This#
was#affordable#for#us.”#
Estes!Park!area!employee!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!79!
“When#you#last#moved,#how#difficult#was#it#to#find#housing#that#met##
your#needs#and#that#you#could#afford?”#
Estes!Park!area!workforce!households,!2015!
!
Own!Rent!
Not!difficult!27%!5%!
Moderately!difficult!36%!20%!
Very!difficult!36%!57%!
I!am!still!searching!for!such!housing!1%!17%!
TOTALS!2,224!2,212!
Source:!!2015!Household!and!Employee!Survey!
!
There!is!a!clear!correlation!between!how!difficult!it!has!been!to!find!housing!and!the!
length!of!time!employees!have!lived!in!their!current!residence,!which!is!one!of!many!
indications!that!the!availability!of!affordable!housing!has!gotten!worse!over!time.!ThreeZ
fourths!of!survey!respondents!who!had!lived!in!their!home!for!less!than!one!year!
indicated!it!was!very!difficult!to!find!housing!that!met!their!needs!they!could!afford,!or!
they!are!still!searching.!!
!
“When#you#last#moved,#how#difficult#was#it#to#find#housing#that#met##
your#needs#and#that#you#could#afford?”#
!
!Source:!!2015!Household!and!Employee!Survey!
!
!!
33%
42%
58%
66%
74%
67%
58%
42%
34%
26%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
10 years or more
5 up to 10 years
3 up to 5 years
1 up to 3 years
Less than 1 year
Percent of Households
Ti
m
e
L
i
v
e
d
i
n
R
e
s
i
d
e
n
c
e
Very difficult or still searching Moderately or not difficult
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!80!
Cost!Burdened!Households!
!
Approximately!1,150!workforce!households!(26%)!residing!in!the!Estes!Park!area!live!in!
housing!that!is!not!affordable!given!their!incomes.!Households!are!considered!to!be!cost!
burdened!if!their!housing!payment!exceeds!30%!of!their!gross!income,!and!extremely!
cost!burdened!if!it!exceeds!50%.!When!this!occurs,!these!households!have!insufficient!
income!left!over!for!other!life!necessities!including!food,!clothing,!utilities,!
transportation!and!health!care.!
!
Percent!of!Income!Paid!for!Rent!or!Mortgage:!!2015!
!Source:!!2015!Household!and!Employee!Survey!
!
Members!of!the!workforce!who!have!lived!in!their!current!residence!for!less!than!three!
years!are!more!likely!than!others!to!be!cost!burdened!by!high!housing!payments,!a!
symptom!of!increasing!home!prices.!!Renters!are!more!likely!to!be!cost!burdened!than!
owners!(35%!compared!to!16%).!
!
Percent!of!Income!Paid!for!Rent!or!Mortgage:!!2015!
!Own!Rent!TOTAL!
Less!than!30%!84%!64%!74%!
30O50%!10%!21%!16%!
Greater!than!50%!6%!14%!10%!
TOTALS!2,224!2,212!4,436!
Source:!!2015!Household!and!Employee!Survey!
!
!!
Less than 30%
74%
30-50%
16%
Greater than 50%
10%
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!81!
Overcrowding!
!
Just!over!530!workforce!households!are!
overcrowded!as!measured!by!the!standard!of!
more!than!two!persons!per!bedroom.!
Overcrowding!is!more!prevalent!among:!
!
• Low!income!households!–!nearly!twoZthirds!have!incomes!equal!to!or!less!than!
80%!AMI.!
!
• Renters!–!20%!of!renter!households!are!overcrowded!compared!to!5%!of!
homeowners.!
!
• Apartment!dwellers,!followed!by!singleZfamily!homes;!41%!of!overcrowded!
households!reside!in!singleZfamily!homes.!!
!
• Households!with!immediate!and!extended!family!members!–!about!27%!are!
overcrowded.!Roommate!households!are!seldom!overcrowded,!which!is!unique!
compared!to!other!mountain!towns!with!limited!rental!availability.!During!the!
summer!season,!overcrowding!in!units!shared!by!unrelated!roommates!
increases!as!seasonal!employees!move!in!with!yearZround!residents!or!crowd!
into!seasonal!rentals.!
!
Persons!per!Bedroom:!Estes!Park!area!working!households,!2015!
(Shading#denotes#overcrowding)#
Persons!per!bedroom!Own!Rent!Total!
Under!2!75%!80%!88%!
2!or!more!5%!20%!12%!
TOTAL!overcrowded!100!430!530!
Source:!2015!Household!and!Employee!survey!
!
Substandard!Housing!
!
Approximately!930!workforce!households!(21%)!reside!in!housing!that!they!rate!as!
being!in!fair!or!poor!condition.!This!is!much!worse!than!in!2007!when!only!4%!of!
residents!surveyed!indicated!their!residences!were!in!fair!or!poor!condition.!
!
Renters!are!far!more!likely!to!live!in!substandard!housing!than!owners,!with!oneZthird!
(730!households)!rating!their!residences!as!fair!or!poor.!!Employees!who!are!most!likely!
to!live!in!housing!that!is!in!fair!or!poor!condition!include:!
!
• Households!living!in!RV’s,!motels/hotels!and!dormitories;!
!
“Almost#all#of#my#workers#live#with#
other#families#or#in#hotel#rooms.#
Only#4#out#of#13#employees#have#
their#own#house#or#apartment”#
Estes!Park!area!employer!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!82!
• Households!who!have!lived!in!their!home!for!less!than!one!year;!
!
• Single!parents!with!children.!
!
Condition!of!Home!
!Own!Rent!Total!
Excellent!46%!21%!34%!
Good!44%!47%!46%!
Fair!9%!25%!17%!
Poor!1%!8%!4%!
TOTALS!2,224!2,212!4,436!
Source:!2015!Household!and!Employee!survey!
!
While!owners!are!less!like!to!live!in!homes!that!are!in!fair!or!poor!condition,!those!who!
do!indicate!they!need!as!many!repairs!or!improvements!as!renters.!Energy!efficiency!
upgrades!including!windows!and!insulation!were!the!most!frequently!cited!
repair/improvement!needed!among!both!groups.!
!
Mold!and!other!flood!damage!received!many!responses!–!about!50!owner!and!230!
renter!workforce!households!indicated!they!need!mold!or!asbestos!abatement,!and!
repair!of!flood!damage!was!the!most!frequent!“other”!problem!mentioned.!
!
What#type#of#repairs#are#needed#to#your#home#if#it#is#in##
fair#or#poor#condition?#
!
Own!Rent!
Old,!inefficient,!or!broken!appliances!50%!50%!
Roof!(leaking,!cracked)!21%!21%!
Exterior!upgrades!(paint,!siding,!landscaping)!61%!63%!
Flooring!(carpet,!tile,!etc.)!64%!63%!
Heating,!plumbing!or!electrical!46%!53%!
Energy!efficiency!upgrades,!insulation,!windows!64%!72%!
Infrastructure!(sidewalk,!driveway,!water/sewer!lines)!46%!32%!
Mold!or!asbestos!abatement!25%!32%!
Other!11%!16%!
TOTALS!389%!401%!
Source:!2015!Household!and!Employee!survey!
*Adds!to!over!100%!because!most!homes!need!multiple!repairs.!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!83!
Loss!of!Employee!Housing!
!
As!indicated!in!Section!3!–!Housing!Inventory,!locals!have!been!losing!ground!to!second!
home!owners,!from!occupying!66%!of!units!in!2000!to!less!than!62%!in!2015.!While!
some!of!this!is!due!to!rising!home!prices!and!the!inability!for!workers!to!afford!housing,!
it!also!is!the!result!of!the!loss!of!units!that!locals!previously!owned!or!occupied.!Based!
on!survey!results:!
!
About!32%!of!renters!(700!total)!have!been!forced!to!move!or!were!evicted!in!the!past!5!
years!–!and!some!more!than!once.!!!
!
Rental!homes!being!sold,!flood!damage!and!rentals!being!converted!to!shortZterm!
rentals!have!affected!the!most!renters!–!about!200!each.!!A!close!second!are!owners!
moving!into!their!previously!rented!homes.!
!
“Have#you#been#evicted#or#forced#to#move#within#the#past#5#years#due#to:”#
!%!of!renters!
affected!
#!of!renters!
displaced!
Rental!home!was!sold!9%!205!
Flood!damage!O!renters!9%!205!
Rental!converted!to!shortOterm/vacation!rental!9%!197!
Owner!moved!in!7%!159!
Rental!home!was!foreclosed!upon!1%!15!
TOTAL!respondents!affected*!32%!700!
Source:!!2015!Household!and!Employee!Survey!
*Column!totals!add!to!more!than!the!“TOTAL!respondents!affected”!because!some!
renters!have!been!forced!to!move!multiple!times.!
!
Among!owners,!about!9%!(200!total)!report!that!they!moved!or!have!been!forced!to!
move!in!the!past!5!years.!!Flood!damage!affected!the!most!owners.!!Few!owners!
indicate!that!they!have!converted!a!home!that!they!owned!and!occupied!either!into!a!
shortZterm!or!longZterm!rental!in!recent!years.!
!
“Have#you#moved#or#been#forced#to#move#within#the#past#5#years#due#to:”#
!%!of!owners!
affected!
#!of!owners!!
displaced!
Flood!damage!O!owners!5%!120!
Converted!home!to!shortOterm!rental!for!visitors!3%!60!
Converted!home!to!longOterm!rental!for!residents!1%!30!
TOTAL!respondents!affected!9%!210!
Source:!!2015!Household!and!Employee!Survey!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!84!
Forced!Commuting!
!
As!stated!in!the!Section!2!–!Economic!Conditions,!Trends!and!Employment,!about!62%!
of!inZcommuting!workers!(630!total)!would!prefer!to!live!in!the!Estes!Valley!if!they!could!
find!housing!that!they!could!afford.!These!workers!are!forced!to!commute!due!to!the!
lack!of!workforce!housing!in!the!Estes!Park!area.!!
!
Desire!to!move!varies!by!tenure.!!Of!current!inZcommuting!renters,!77%!want!to!move!
compared!to!49%!of!inZcommuting!owners.!!It!is!typical!that!homeowners!who!inZ
commute!tend!to!be!more!reluctant!to!move!given!their!more!stable!housing!situation.!
!
“Would#you#consider#moving#your#household#to#the#Estes#Park#Valley#
#(nearer#your#households#employment)#if#housing#were#available#that#you#could#afford#
to#buy#or#rent?”#
!Source:!!2015!Household!and!Employee!survey!
!
InZcommuters!who!want!to!move!are!mostly!employed!in!the!health!care,!professional,!
government!and!service!professions.!!A!comparatively!higher!proportion!of!inZ
commuters!employed!in!education!and!nonZprofit!professions!are!also!interested!in!
moving!to!the!Estes!Valley!rather!than!continuing!to!commute.!
!
!!
51%
39%
10%
0%
23% 23%
40%
14%
0%
10%
20%
30%
40%
50%
60%
No Yes, if I could BUY a
home
Yes, if I could BUY
OR RENT a home
Yes, if I could RENT
a home
Pe
r
c
e
n
t
o
f
I
n
-
C
o
m
m
u
t
e
r
s
Own Rent
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!85!
Industry!of!Employment:!!2015!
!Want!to!
move!
Do!not!want!
to!move!
Health!care/social!assistance!17%!21%!
Professional,!scientific,!technical!services!13%!5%!
Bar/restaurant!12%!0%!
Government/civic!service!(excluding!public!schools)!12%!31%!
Educational!services!9%!7%!
Other!services!(personal,!daycare,!auto!repair,!etc.)!9%!2%!
Retail!trade!(grocery,!sporting!goods,!etc.)!7%!7%!
NonOprofit!7%!2%!
Construction!3%!7%!
Other!19%!25%!
TOTAL!100%!100%!
Source:!!2015!Household!and!Employee!survey!
!
Over!oneZhalf!of!inZcommuters!who!want!to!move!are!relatively!new!employees,!having!
been!employed!in!the!area!less!than!3!years.!!Many!inZcommuters!leave!their!jobs!after!
this!time!if!they!cannot!find!housing!closer!to!their!jobs,!as!noted!by!employers.!Many!
who!want!to!move,!however,!have!been!contributing!members!of!the!local!workforce!
for!10!years!or!more!(17%).!
!
“How#long#have#you#been#employed#in#the#Estes#Park#area”#
InOcommuters!who!want!to!move,!2015!
!
!Source:!!2015!Household!and!Employee!survey!
!
!!
Less than 1 year
19%
1 up to 3 years
34% 3 up to 5 years
15%
5 up to 10 years
15%
10 years or more
17%
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!86!
Over!oneZthird!of!inZcommuters!who!want!to!move!also!have!children!and!38%!are!
young!professionals!between!the!ages!of!18!and!29.!!These!are!demographics!that!the!
Estes!Park!area!has!been!losing!over!recent!years!and!are!important!to!maintain!a!
vibrant!workforce!and!community.!
!
Household!Age!and!Composition:!
InOcommuters!that!want!to!move,!2015!
!
Source:!!2015!Household!and!Employee!Survey!
!!
Age!of!Household!
Members!
Want!to!!
move!
Household!type!Want!to!
move!
Under!5!13%!Adult!living!alone!6%!
5!to!17!23%!Couple!with!child(ren)!26%!
18!to!29!38%!Couple,!no!child(ren)!36%!
30!to!64!81%!Immediate!and!extended!family!!13%!
65!and!over!4%!Other!Z!Write!In!2%!
!!Single!parent!with!child(ren)!9%!
!!Unrelated!roommates!9%!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!87!
SECTION!7!–!HOUSING!NEEDS!AND!GAPS!
!
This!section!of!the!report!estimates!the!number!of!housing!units!needed!by!employees!
in!the!Estes!Valley!both!to!fill!existing!gaps!in!the!market!and!to!accommodate!future!
needs.!Units!needed!are!identified!by!ownership!and!rental!units!and!AMI!affordability!
level.!!
!
Housing!needs!are!determined!through!a!combination!of!factors!and!are!presented!in!
two!categories:!
!
• CatchZUp!Needs!ZZ!the!number!of!housing!units!needed!to!address!current!
deficiencies!in!housing!based!on!overcrowded!housing!units,!employees!needed!
to!fill!unfilled!jobs!and!inZcommuting!employees!who!want!to!live!in!the!Estes!
Valley.!
!
• KeepZUp!Needs!ZZ!the!number!of!units!needed!to!keepZup!with!future!demand!
for!housing!based!on!projected!employment!and!jobs!vacated!by!retiring!
employees.!
!
The!housing!needs!estimated!in!this!section!are!a!component!of!housing!demand!in!the!
Estes!Valley,!but!they!do!not!represent!total!demand.!This!section!estimates!housing!
units!needed!to!support!employers,!keep!up!with!future!job!growth!and!improve!
housing!conditions!for!area!workers.!!It!does!not!include!additional!components!of!
demand,!such!as!resident!households!who!would!like!to!buy!a!new!or!different!home!in!
the!Estes!Valley!or!outZofZarea!households!looking!to!purchase!vacation!homes.!!
!
Current!Conditions!and!CatchOUp!Needs!
Overcrowding#
!
Overcrowding!can!only!be!addressed!by!building!additional!units.!As!reported!in!the!
Housing!Problems!section!of!this!report,!530!units!are!overcrowded!in!the!Estes!Park!
area.!An!increase!in!the!supply!of!workforce!housing!equal!to!about!oneZthird!of!the!
number!of!overcrowded!units!will!help!address!overcrowding!to!the!extent!practical,!
given,!for!example,!cost!consciousness!and!cultural!needs.!Therefore,!about!160!units!
are!needed!to!help!address!overcrowding!within!the!Estes!Park!area.!
!
Units!Needed!to!Address!Overcrowding!
Total!overOcrowded!households!530!
%!needed!to!address!overcrowding!30%!
New!housing!needed!160!
!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!88!
InNcommuters#
!
About!290!units!are!needed!in!the!Estes!Park!area!to!meet!the!needs!of!inZcommuters!
who!want!to!move!nearer!their!jobs.!!Over!60%!of!inZcommuters!commuting!from!
homes!down!valley!(e.g.,!Loveland,!Fort!Collins,!Boulder!and!Weld!Counties,!etc.)!want!
to!move!to!the!Estes!Park!area!if!they!could!find!affordable!and!suitable!housing.!The!
majority!would!prefer!to!buy!(70%).!!As!noted!in!the!Employment!Section,!providing!
stable!housing!options!for!inZcommuters!helps!decrease!employee!turnover,!improves!
customer!service!and!job!satisfaction,!among!other!benefits.!
!
Units!Needed!to!House!InOCommuters!
Total!inOcommuters!1,020!
%!want!to!move!to!Estes!Valley*!62%!
#!that!want!to!move!630!
Jobs!per!employee!1.2!
Workers!per!household!1.84!
New!housing!needed!290!
Want!to!rent!(30%)*!90!
Want!to!buy!(70%)*!200!
*Source:!!2015!Household!and!Employee!Survey!
Unfilled#jobs#
!
About!220!housing!units!are!required!to!house!employees!needed!to!fill!the!480!yearZ
round!jobs!that!were!vacant!in!November!2015.!!Based!on!survey!responses,!about!70%!
of!new!workers!to!the!area!rent,!meaning!the!majority!of!these!units!should!be!rentals.!!
!!!
Units!Needed!to!Help!Fill!Vacant!Jobs!
#!YearORound!unfilled!jobs!(Nov.!2015)!480!
Jobs!per!worker!1.2!
Employees!per!household!1.84!
Housing!units!needed!220!
Rentals!(70%)!155!
Ownership!(30%)!65!
!
Future!(KeepOUp)!Needs!
Retiring#employees#
!
About!520!housing!units!will!be!needed!to!house!employees!that!fill!jobs!vacated!by!
retirees!over!the!next!five!years.!!About!15%!of!area!employees!responded!on!the!
survey!that!they!expect!to!retire!within!5!years,!meaning!employers!will!have!vacancies!
to!fill!in!addition!to!any!newly!created!jobs.!!Some!retirees!will!likely!leave!the!area!upon!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!89!
retirement;!however,!when!they!sell!their!homes,!many!will!likely!be!purchased!by!
second!homeowners!or!retirees!rather!than!local!employees.!
!
!Retiring!employees!
%!to!retire!within!5Oyears!15%!
#!to!retire!1,150!
Jobs!per!worker!1.20!
Employees!per!household!1.84!
Housing!units!520!
Job#Growth#
!
To!keep!up!with!estimated!job!growth!over!the!next!five!years,!approximately!300!to!
500!additional!units!will!be!needed!by!2020!to!house!85%!of!local!employees!in!the!
Estes!Park!area.!The!85%!target!is!based!on!current!patterns!–!75%!of!the!current!
workforce!lives!in!the!area!and!10%!commute!in!but!want!to!move.!The!range!of!needs!
is!based!upon!whether!job!growth!will!occur!in!the!Estes!Park!area!at!the!same!rate!as!
the!county!over!the!next!five!years!(about!1.9%!per!year),!or!if!it!will!continue!to!grow!at!
a!faster!pace!as!it!has!done!since!2010!(about!3.2%!per!year).!!These!job!growth!
estimates!are!presented!in!more!detail!in!Section!2!–!Economic!Conditions!and!Trends.!
!
Estimate!of!Housing!Needed!to!Fill!New!Jobs,!2015!–!2020!
!!Low!High!
Increase!in!Jobs!between!2015!to!2020!!740!1,300!
Jobs!per!Employee!1.2!1.2!
New!Employees!Needed!620!1,080!
%!to!live!in!Estes!Park*!85%!85%!
#!to!live!in!Estes!Park!530!920!
Employees!per!Housing!Unit!1.84!1.84!
New!housing!needed!290!500!
*Includes!75%!of!the!workforce!that!lives!in!Estes!Park!plus!inZcommuters!
who!want!to!move!to!the!Estes!Park!area.!
!
Summary!of!CatchOUp!and!KeepOUp!Needs!
!
Based!on!estimated!catchZup!and!keepZup!needs,!approximately!1,480!to!1,690!housing!
units!for!the!workforce!are!needed!by!2020.!!This!averages!about!300!to!340!units!per!
year.!!This!is!almost!twice!the!estimate!presented!in!the!2008!Housing!Needs!
Assessment,!primarily!because!the!problems!of!unfilled!jobs,!inZcommuters!wanting!to!
move!to!the!area,!overcrowding!and!retiring!employees!have!increased.!!
!
!
!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!90!
Summary!of!Housing!Needs!
CatchOUp!670!
Overcrowding!160!
InZcommuters!290!
Unfilled!jobs!220!
KeepOUp!810!to!1,020!
Retiring!employees!520!
New!jobs!290!to!500!
TOTAL!through!2020!1,480!to!1,690!
!
!
Needs!by!Own/Rent!and!AMI!
!
Both!ownership!and!rental!housing!in!the!Estes!Park!area!that!is!affordable!for!the!local!
workforce!are!needed.!About!40%!of!new!units!should!be!for!ownership!and!60%!for!
rent.!!This!takes!into!account!that!70%!of!inZcommuters!prefer!to!own!homes!if!they!
move!to!the!area,!along!with!the!reality!that!70%!of!new!workers!to!the!area!initially!
rent.!!It!is!also!in!line!with!the!current!rental!crisis!experienced!in!the!Estes!Park!area!
(e.g.,!0.3%!vacancy!rate).!!
!
The!precise!ratio,!however,!is!somewhat!dependent!upon!the!community’s!desired!
direction!and!housing!policy.!While!the!rental!market!is!currently!tighter!than!the!
ownership!market!and!has!a!stronger!postZrecession!recovery,!ownership!is!needed!long!
term!for!yearZround!residents.!!
!
Summary!of!Housing!Needs!by!Own/Rent!Through!2020!
!!!Low!High!
Units!needed!through!2020!1,480!1,690!
Ownership!590!650!
Rental!890!1,040!
!
Ownership!housing!should!be!distributed!based!on!the!income!distribution!of!Estes!Park!
area!employed!households,!as!shown!below.!!Price!points!for!locals!should!range!as!low!
as!about!$115,000!up!to!about!$350,000!(50%!through!150%!AMI).!!
!
• The!current!market!is!not!providing!a!sufficient!supply!of!homes!in!this!price!
range,!whereas!homes!affordable!to!households!earning!over!150%!AMI!are!over!
supplied.!!!
!
• Homes!affordable!for!households!earning!under!50%!AMI!are!also!
undersupplied;!however,!producing!homes!at!this!price!will!not!occur!without!
substantial!subsidies!or!programs!such!as!Habitat!for!Humanity.!These!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!91!
households!also!often!have!trouble!qualifying!for!loans!and!meeting!down!
payment!purchase!requirements.!
!
Homeowner!Income!Distribution!Compared!to!Homes!Sales!and!Availability!
AMI!Range!Maximum!
Affordable!
Sale!Price!
Owner!
Income!
Distribution!
Current!Condo,!
Townhome!and!
SF!Listings!
<50%!$115,500!10%!0%!
50%!to!80%!$184,800!11%!11%!
80.1!to!100%!$231,000!14%!7%!
100.1!to!120%!$277,200!12%!9%!
120.1!to!150%!$346,500!22%!10%!
Over!150%!Over!$346,500!31%!63%!
TOTAL!Z!100%!138!
!
There!are!basically!no!units!available!to!rent!at!any!price!point!in!the!Estes!Park!area.!!!
Rentals!are!needed!for!households!at!all!income!levels.!!As!shown!below,!however,!new!
rentals!should!be!mostly!priced!for!households!earning!under!80%!AMI!based!on!the!
incomes!of!households!with!an!Estes!Park!area!employee.!
!
Renter!Income!Distribution!Compared!to!Available!Rentals!
!!Maximum!
Affordable!Rent!
Renter!Income!
Distribution!
Available!
Rentals*!
<50%!AMI!$780!28%!0!
50Z80%!AMI!$1,245!29%!2!
80Z100%!AMI!$1,560!15%!3!
100Z120%!AMI!$1,870!11%!0!
Over!120%!AMI!Over!$1,870!17%!0!
TOTAL!Z!100%!5!
*Available!rentals!include!rentals!available!in!the!Estes!Park!area!in!December!2015.!
!
Seasonal!Worker!Housing!
!
Businesses!recruited!and!trained!workers!to!fill!about!3,000!jobs!last!summer.10!Given!
the!scarcity!of!housing!in!the!area,!84%!of!employers!that!hire!seasonal!workers!state!
that!the!ability!for!these!workers!to!find!housing!is!a!“major!problem.”!Many!employers!
have!expressed!frustration!with!being!unable!to!hold!onto!workers!due!to!the!inability!
for!new!hires!to!find!housing.!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
10!See!Section!2!–!Economic!Conditions!and!Trends!(Seasonality).!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!92!
In!most!seasonal!resort!communities,!housing!for!
seasonal!workers!is!often!provided!by!the!
employers!who!hire!them.!Neither!private!
developers!nor!public!housing!authorities!can!
afford!to!develop!housing!that!is!occupied!only!
part!of!the!year.!Since!the!peak!period!for!
seasonal!workers!is!in!the!summer!months,!RV!
spaces,!camping!facilities,!nonZwinterized!cabins!
and!similar!low!cost!housing!options!for!these!
workers!are!feasible,!unlike!in!the!ski!towns.!!
Employers!have!specific!knowledge!of!the!
number!of!workers!they!plan!to!hire,!their!
demographic!characteristics!and!their!housing!
needs.!!
!
In!the!Estes!Park!area,!many!employers!are!
helping!to!address!this!problem:!
!
• Employers!responding!to!the!survey!provided!housing!assistance!to!about!50%!of!
their!seasonal!workers!(over!1,100!total).11!!
• While!seasonal!workers!were!not!a!focus!of!the!fall!2015!employee!survey,!a!few!
seasonal!employee!responses!were!received!(18!total),!many!of!which!were!
housed!by!their!employer.!!
• A!few!employers!have!some!pending!development!proposals!to!build!housing!for!
their!workers.12!!
!
Summary!of!Employee!Housing!Assistance:!!2015!
Employees!Assisted:!#!
Jobs!filled!by!seasonal!residents!3,000!
Jobs!per!seasonal!worker!(est.)!*1.5!
Seasonal!workers!needing!housing!2,000!
Housed!by!employers!**1,100+!
Number!of!Seasonal!Housing!Units!Needed!Unknown/fluctuates!
*Year!round!workers!hold!1.2!jobs!on!average!in!the!Estes!Park!area.!!Seasonal!workers!typically!hold!
more!than!this!(up!to!1.8!jobs!in!some!communities).!An!estimate!of!1.5!was!used!(midZpoint).!
**Actual!count!from!responding!employers.!
!
Housing!units!needed!by!seasonal!workers!has!not!been!defined!–!needs!change!yearZ
toZyear!based!on!several!factors!–!tourism,!hiring!needs,!weather,!housing!market!
availability,!etc.!The!Estes!Park!area!is!encouraged!to!explore!ways!to!continue!to!help!
employers!flexibly!serve!this!population.!Maintaining!development!code!provisions!that!
help!employers!to!build!or!provide!housing!for!their!and!other’s!workers,!programs!that!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
11!See!Section!3!–!Housing!Inventory!(Employer!Assisted!Housing).!
12!See!Section!3!–!Housing!Inventory!(Proposed!and!Pending!Development).!
“Seasonal#housing#for#those#
here#for#the#summer#is#nearly#
impossible#to#find.#This#really#
hampers#our#ability#to#serve#our#
guests#and#give#them#a#great#
service#experience#because#we#
are#always#shorthanded.”#
#
“We#have#found#that#it#is#WAY#
too#hard#to#find#a#place#to#live.#
We#also#believe#that#if#it#were#
easier#to#find#housing,#we#would#
have#a#better#rate#of#returning#
staff#each#year.#It#is#very#
frustrating#for#us#and#them!”#
Estes!Park!area!employers!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!93!
can!facilitate!pooling!of!resources!and!master!lease!programs!to!meet!seasonal!needs,!
and!allowing!innovation!in!taking!advantage!of!lowZcost!summer!housing!options!
including!camping!options,!such!as!RV!sites,!campgrounds,!and!unweatherized!cabins.!!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!94!
SECTION!8!OO!HOUSING!PREFERENCES!
!
This!section!examines!what!workforce!households!need!and!want!in!housing!–!type,!
number!of!bedrooms,!location,!design!features!and!amenities.!Takeaway!from!the!
section:!
!
• Existing!residents!and!inZcommuters!who!want!to!move!into!or!within!Estes!Park!
primarily!want!to!buy!homes.!This!counters!the!strong!need!for!rental!housing!
when!considering!catchZup!and!keepZup!demand.!Similar!towns!often!set!a!policy!
or!goal!for!the!mix!of!ownership!and!rental!workforce!housing!taking!into!
consideration!factors!like!these!as!well!as!the!historic!owner/renter!mix!in!the!
community.!!
!
• When!developing!workforce!housing,!townhomes!are!a!clear!preference!over!
condominiums.!
!
• Workforce!households!living!in!the!Estes!Park!area!often!reside!in!larger!homes!
than!they!need.!There!are!relatively!too!few!oneZ!and!twoZbedroom!homes!and!
relatively!too!many!homes!with!three!or!more!bedrooms.!
!
• Estes!Park’s!highly!valued!proximity!to!nature!and!outdoor!recreation!is!second!
to!the!affordability!of!housing/cost!of!living!as!the!most!important!consideration!
overall!when!looking!for!a!place!to!live.!This!suggests!that!if!housing!is!not!
affordable,!the!beautiful!Rocky!Mountain!location!will!not!keep!many!employees!
in!the!community.!
!
• Amenities!most!desired!include!garages,!mobile!phone/internet!access,!pets!
allowed,!inZunit!washers/dryers!and,!if!the!household!includes!children,!play!
areas.!
!
Want!to!Own!vs.!Rent!
!
The!2015!Household!and!Employee!survey!asked!local!workforce!households!and!inZ
commuting!households!whether!they!want!to!move!into!a!new!or!different!home!in!the!
Estes!Park!area.!About!62%!of!inZcommuters!and!41%!of!local!workforce!households!
expressed!a!desire!to!move.!
!
• Of!workforce!households!who!want!to!move,!most!want!to!own.!!
!
• Current!owners!want!to!continue!to!own!and!nearly!60%!of!renters!want!to!
move!into!ownership.!!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!95!
• Another!28%!of!renters!would!own!or!rent.!Relatively!few!renters!who!want!to!
move!from!where!they!now!rent!want!to!continue!to!rent.!This!preference!
balances!the!own/rent!mix!in!the!demand!generated!for!additional!units!through!
job!growth.!!
!
Preference!to!Own!or!Buy!a!Home!in!the!Estes!Park!area:!!2015!
!Present!Tenure!Status!
Do!you:!Owners!Renters!Total!
Prefer!to!Own!100%!59%!67%!
Either!own!or!rent!(no!preference)!0%!28%!22%!
Prefer!to!Rent!0%!14%!11%!
TOTALS!100%!100%!100%!
Source:!2015!Household!and!Employee!Survey!
!
Unit!Type!
!!
SingleZfamily!homes!were!by!far!the!favorite!choice!when!members!of!workforce!
households!who!want!to!move!were!asked,!“If#you#were#to#move#into#a#new#or#different#
home#in#the#Estes#Valley,#what#is#your#first#and#second#preferred#choice#of#home?”!This!is!
not!a!reflection!of!the!marketability!of!other!types!of!housing.!Research!on!housingZ
related!tradeoffs!in!Colorado!mountain!towns!has!shown!that!employees!are!more!
willing!to!compromise!on!unit!type!and!size,!but!typically!hold!firm!on!price!and!
location.!
!
First!Choice!–!Preferred!Type!of!Housing:!!2015!
!Present!Tenure!Status!
FIRST!Preferred!Home!Type:!Owners!Renters!Total!
Single!family!97%!78%!82%!
Duplex/townhome!2%!6%!5%!
Condominium!2%!2%!2%!
Apartment!0%!7%!6%!
Mobile!Home!0%!5%!4%!
Other!0%!2%!2%!
TOTALS!100%!100%!100%!
Source:!2015!Household!and!Employee!Survey!
!
The!second!choice!home!provides!insight!into!the!relative!desirability!of!other!types!of!
housing.!Duplexes!and!townhomes!are!far!more!preferred!than!condominiums!by!those!
who!want!to!move!to!or!within!the!Estes!Park!area.!!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!96!
Second!Choice!–!Preferred!Type!of!Housing:!!2015!
!Present!Tenure!Status!
SECOND!Preferred!Home!Type:!Owners!Renters!Total!
Duplex/townhome!57%!52%!53%!
Condominium!20%!22%!22%!
Apartment!0%!10%!8%!
Single!family!4%!6%!5%!
Other!20%!10%!12%!
TOTALS!100%!100%!100%!
Source:!2015!Household!and!Employee!Survey!
!
Bedrooms!Needed!
!
Workforce!households!employed!in!the!Estes!Park!area!in!general!need!fewer!bedrooms!
than!they!now!have,!which!is!good!for!affordable!housing!efforts,!since!smaller!homes!!
cost!less!to!build.!!
!
• Whereas!over!half!indicated!they!need!one!or!two!bedrooms,!40%!now!live!in!
one!or!two!bedroom!homes.!!
!
• Only!48%!need!three!or!more!bedrooms!although!56%!now!have!this!many!
bedrooms.!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!97!
How!Many!Bedrooms!Do!You!Occupy!and!How!Many!Does!Your!Household!Need?!
Estes!Park!area!workforce!households,!2015!
!Source:!!2015!Household!and!Employee!Survey!
!
Of!workforce!households!wanting!to!move!into!a!new!or!different!home!in!the!area,!
those!who!want!to!own!report!needing!more!3Z!and!4Zbedroom!homes!than!those!who!
would!consider!renting.!
!
Number!of!Bedrooms!Needed!by!Own/Rent:!2015!
Bedrooms!Needed!
Want!to!
own!
Would!rent!
or!own!
Studio!0%!2%!
One!10%!22%!
Two!37%!41%!
Three!38%!29%!
Four!14%!7%!
Five!1%!0%!
Source:!2015!Household!and!Employee!Survey!
!
!!
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Five
Four
Three
Two
One
Studio
Nu
m
b
e
r
o
f
B
e
d
r
o
o
m
s
Bedrooms in current home
Bedrooms needed
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!98!
Location!Attributes!
!
When!looking!for!a!place!to!live,!the!affordability!of!housing/cost!of!living!is!the!most!
important!consideration!among!renters,!but!a!close!second!to!proximity!to!nature!and!
outdoor!recreation!among!owners.!!
!
While!owners!and!renters!rate!the!relative!importance!of!the!options!offered!similarly,!
owners!place!greater!importance!on!most!attributes,!especially!proximity!to!services,!
community!amenities!and!community!character.!!Renters!gave!higher!ratings!than!
owners!only!on!the!affordability!of!housing!and!cost!of!living.!
!
Several!“other”!writeZin!survey!responses!were!received!to!this!question.!Allowing!pets!
was!the!most!frequently!cited,!followed!by!the!quality!of!housing.!
!
Importance!of!Location!Attributes!
!Own!Rent!Grand!Total!
Affordability!of!housing/cost!of!living!4.2!4.7!4.5!
Proximity!to!nature/outdoor!recreation!!4.3!3.9!4.1!
Community!character!(family!oriented,!
neighborhood!feel,!etc.)!
4.1!3.7!3.9!
Community!amenities!(parks,!libraries,!etc.)!4!3.6!3.8!
Proximity!to!my!place!of!employment!3.7!3.7!3.7!
Proximity!to!services!(medical,!shopping,!etc.)!3.5!3.1!3.3!
Proximity!to!place(s)!of!employment!for!other!
household!members!!
3.3!3!3.2!
Quality!of!schools!!3.2!2.9!3!
Proximity!to!day!care!!1.7!1.7!1.7!
Source:!!2015!Household!and!Employee!Survey!
*Sorted!in!descending!order!of!importance.!
!
Owner!Amenities!
!
A!garage!and!adequate!storage!top!the!list!of!what!home!buyers!who!work!in!the!area!
most!seek!when!choosing!a!home.!!Most!buyers!realize!they!will!have!to!consider!older!
units!to!find!homes!they!can!afford.!!
!
Condominiums!do!not!appeal!to!many,!but!still!function!as!housing!for!some!of!the!
workforce,!primarily!since!other!options!are!so!limited.!Empty!nesters!are!more!likely!to!
consider!condominiums,!yet!families!with!children!are!far!more!likely!to!only!consider!
singleZfamily!homes!with!private!yards.!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!99!
The!community!has!continued!to!attract!older!residents!with!its!amenities!and!relatively!
large!inventory!of!condominiums.!!Living!down!valley!often!appeals!more!to!singles!and!
younger!families!who!prefer!the!lifestyle,!schools!and!familyZoriented!amenities!like!
community/recreation!centers!available!in!Loveland!and!Fort!Collins.!!Some!REALTORS®!
feel!the!community!is!transitioning,!however,!and!that!its!attraction!of!younger!tourists!
with!events!like!beer!festivals!will!ultimately!lead!to!younger!home!buyers.!This!is!
supported!by!information!in!Section!6!–!Problems,!where!many!of!the!inZcommuters!
that!want!to!move!closer!to!their!work!are!comprised!of!younger!workforce!households!
and!families.!
!
Rental!Amenities!
!
The!amenities!and!features!that!renters!desire!are!similar!in!most!respects!between!
those!renting!market!units!compares!to!incomeZrestricted!rentals.!They!both!highly!rate!
being!able!to!have!pets!and!laundry!either!in!the!unit!or!on!site.!!
!
There!are!some!notable!exceptions.!When!considering!these!differences!is!it!important!
to!note!that!the!incomeZrestricted!units!are!apartments!in!complexes.!The!market!units!
are!largely!scattered!condominiums,!singleZfamily!homes!and!cabins.!!
!
• Pets!are!at!the!top!of!the!list!for!both!categories!of!rentals.!Pets!are!rarely!
allowed!at!apartment!properties!and!in!professionally!managed!rentals!even!
though!they!are!highly!valued.!Renters!are!getting!around!prohibitions!by!
indicating!their!pets!are!“service”!animals.!An!alternative!is!to!charge!pet!rent!as!
well!as!higher!security!deposits.!
!
• Mobile!phone/internet!service!shares!the!top!rating!with!pets.!The!National!Park!
Services!had!some!vacancies!in!their!summer!employee!housing!because!the!
units!did!not!have!internet!access.!
!
• OnZsite!and!inZunit!washers/dryers!are!very!important.!
!
• Garages!are!moderately!important!to!market!renters!yet!none!of!the!income!
restricted!rentals!have!garages.!
!
• Playgrounds!are!of!moderate!value!to!the!residents!in!the!incomeZrestricted!
apartment!complexes!but!of!low!value!to!market!renters.!
!
• Storage!is!lower!in!terms!of!importance!that!often!found!in!mountain!towns,!
perhaps!because!Estes!is!not!a!ski!resort!and!residents!may!not!have!all!of!the!
gear!associated!with!that!sport.!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!100!
Importance!of!Amenities!to!Renters!
1!=!not!important;!5!=!very!important!
!ProfessionallyO
Managed!Market!
Rentals!
EPHA!Rentals!
Pets!allowed!5!5!
On!site!laundry!4!5!
Mobile!phone/internet!service!5!5!
In!unit!laundry!4!3!
Garage!3!N/A!
Yard!space!3!3!
Energy!efficiency!3!1!
Storage!2!3!
Clubhouse!N/A!2!
Playground!1!3!
Exercise!equipment!1!N/A!
Security!1!1!
Source:!!2015!REALTOR®!and!Property!Manager!focus!groups!
!
In!terms!of!unit!design,!there!is!no!clear!preference!for!singleZstory!units!as!compared!to!
multiZstory.!In!general,!older!renters!prefer!one!level!while!families!with!children!like!
townhomes!and!other!multiZstory!units.!
!
Renters!are!split!roughly!50/50!between!those!who!want!a!full!bathroom!with!tub!and!
those!who!are!fine!with!a!¾!bathroom!with!shower.!
!
!
!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!101!
SECTION!9!–!HOUSING!RESOURCES!AND!LIMITATIONS!
!
This!section!introduces!land!and!housing!resources!that!may!be!available!to!help!
address!affordable!housing!for!the!workforce.!!The!existing!regulatory!environment!is!
discussed!as!it!relates!to!the!development!of!affordable!housing,!including!both!code!
and!process.!Changes!incurred!by!the!2013!flood!and!pending!floodplain!redistricting!
are!also!introduced.!Finally,!funding!and!programs!provided!by!local!and!regional!
organizations!are!presented.!!This!information!helps!guide!recommendations!and!
possible!strategies.!!
!
Vacant!and!TownOOwned!Land!
!
The!below!map!shows!vacant!land!in!the!town!of!Estes!Park!area.!!Much!of!the!land!
shown!may!not!be!suitable!or!available!for!development.!!Of!the!parcels!shown,!only!the!
Fish!Hatchery!parcel!is!currently!under!consideration!for!workforce!housing!(upper!left!
corner!of!the!map).!
!
This!parcels!is!about!4!miles!west!of!town.!!The!area!is!currently!under!AZ1!zoning,!
allowing!about!four!units!per!acre.!!Not!all!the!land!is!developable!due!to!steep!slopes,!
wildfire!hazard,!and!other!conservation!areas,!but!some!significant!acreage!could!
potentially!be!developed!at!higher!densities.!!
!
Discussions!have!been!occurring!with!the!Estes!Park!Housing!Authority.!!If!an!agreement!
can!be!worked!out!with!the!Town!donating!land,!homes!for!moderateZ!and!middleZ
income!families!could!be!constructed!that!are!below!market!but!above!the!limits!
associated!with!Federal!and!State!housing!programs.!The!parcel!has!competing!interests,!
both!for!conservation!and!housing,!but!the!extensive!size!of!the!parcel!should!lend!itself!
to!meeting!multiple!interests.!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!102!
Vacant!Land!in!the!Estes!Park!Area:!!2013!
!Source:!!Estes!Park!Community!Development!Department!from!Larimer!County!Assessor!Records!
*Land!classifications!are!from!Assessor!records!and!do!not!represent!Estes!Valley!zoning!designations!
!
!
Floodplain!Redistricting!in!2016!
!
The!Federal!Emergency!Management!Agency!(FEMA)!is!expected!to!release!a!new!100Z
year!floodplain!map!for!the!Estes!Park!area!at!the!end!of!2016.!!This!map!is!expected!to!
place!many!properties!in!the!floodplain!that!currently!are!not!classified!as!such.!!It!is!
unknown!at!this!time!how!many!residential!properties!may!be!affected!by!this!
redistricting.!!!
!
FEMA!has!programs!targeted!to!reducing!the!damage!to!property!and!disruption!caused!
by!repeated!flooding.!!Redistricting!will!open!the!door!to!additional!grant!opportunities!
to!address!flooding!related!issues!and!renovations!in!Town.!!Among!FEMA’s!concerns!
are!“severe!repetitive!loss”!(SRL)!properties,!which!are!properties!that!are!subject!to!
repeat!flooding!damage.!!In!the!past,!grant!funds!have!been!available!to!state!and!local!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!103!
governments!for!acquisition!or!relocation!of!SLR!structures!and!conversion!of!the!
property!to!open!space,!elevation!of!structures!or!dryproofing!of!historic!properties.13!!
!
The!Islander,!an!8Zplex!unit!downtown!that!often!houses!local!employees,!is!one!for!
which!the!Town!may!request!these!funds,!but!an!application!has!not!yet!been!
submitted.!!While!removing!properties!from!the!floodplain!is!important,!a!noZnetZloss!
policy!for!housing!occupied!by!residents!should!be!equally!as!important.!!As!more!SRL!
properties!are!identified,!the!Town!should!have!in!place!a!plan!to!relocate!or!replace!
lost!units!in!nonZflood!areas,!rather!then!simply!remove,!these!properties.!!!
!
The!Town!has!hired!a!consulting!team,!Logan!Simpson,!to!establish!a!Downtown!Plan!
consistent!with!community!goals!and!needs.!!This!plan!will!evaluate!the!potential!for!3Z
stories!and!steppedZback!4Zstories!in!some!downtown!areas,!some!of!which!is!in!
anticipation!that!basement!and!crawl!spaces!will!be!in!the!floodplain!following!
redistricting.!This!could!open!up!options!for!more!housing!downtown.!!As!the!Town!
continues!with!these!efforts,!it!is!important!to!consider!the!potential!impact!of!
floodplain!redistricting!and!the!impact!on!housing.!!!
!
Redevelopment!Parcels!
!
The!town!has!few!undeveloped!parcels.!!Most!potential!development!is!through!
redevelopment!rather!than!new!subdivisions!within!the!town.!!A!few!properties!were!
identified!by!the!town!as!potential!candidates!for!redevelopment,!though!no!specific!
plans!are!currently!in!the!works:!
!
• An!almost!5Zacre!parcel!about!two!miles!south!of!downtown!on!South!St.!Vrain!
Avenue.!!This!parcel!is!across!the!avenue!from!the!golf!course.!!It!had!a!recent!
proposal!for!development!that!was!contested!by!residents!in!the!area!and!was!
subsequently!withdrawn.!
!
• A!9.5Zacre!parcel!north!of!the!lake!on!Dry!Gulch!Road!and!just!south!of!Vista!
Ridge!Condominiums.!!The!parcel!could!be!rezoned!to!accommodate!higher!
density!residential,!but!as!with!most!development!in!the!area,!would!be!
contentious!with!the!community.!
!
• Cleave!Street!property!downtown,!which!is!one!area!to!be!evaluated!as!the!town!
reviews!a!Downtown!Plan!for!Estes!Park.14!!This!parcel!contains!Cleave!Street!
Apartments!(EPHA),!along!with!a!few!buildings!that!are!ripe!for!redevelopment.!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
13!See!“Guidance!for!Severe!Repetitive!Loss!Properties,”!May!2011,!available!at:!
https://www.fema.gov/pdf/nfip/manual201105/content/20_srl.pdf;!“FY!2015!Flood!Mitigation!Assistance!
Program!Fact!Sheet,”!available!at:!http://www.fema.gov/mediaZlibraryZdata/1432847398289Z
878c470e718239eedcaadc8d52ea1823/FMAFactSheetFY2015.pdf!
14!See!discussion!herein!above!under!“Floodplain!Redistricting!in!2016.”!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!104!
!
Redevelopment!of!many!properties!is!challenging.!!The!town!underwent!a!broad!scale!
rezoning!many!years!ago!that!changed!many!multiZfamily!zones!to!singleZfamily.!!This!
means!that!there!are!several!“nonZconforming”!uses!in!place,!such!as!hotels!and!multiZ
family!residential,!which!may!not!be!
permitted!to!redevelop!to!their!current!use.!
No!net!loss!provisions,!requiring!removed!
residential!units!to!either!be!replaced!on!site!
or!another!site!or!a!feeZinZlieu!of!
replacement!be!paid,!are!common!in!areas!
concerned!about!the!loss!of!local!housing!to!
redevelopment.!!
!
Regulatory!Issues!
!
Many!concerns!regarding!the!current!zoning!and!development!environment!in!the!Estes!
Park!area!were!raised!through!interviews,!survey!comments!and!data!observations.!The!
primary!issues!raised!included:!
• The!low!density!zoning!in!the!valley,!!
• Redevelopment!challenges!(discussed!above),!!
• Opposition!to!most!types!of!development!by!vocal!residents,!!
• Ineffective!attainable!housing!incentives,!!
• Lack!of!mandates!or!fees!for!workforce!housing,!and!!
• The!prohibitions!on!renting!Accessory!Dwelling!Units!(ADUs).!!!
!
This!section!highlights!some!of!these!concerns.!!The!Strategies!section!of!this!report!
recommends!how!the!Town!may!improve!its!regulatory!environment!to!better!
accommodate!attainable!housing.!
!
MultiZfamily!zones.!!Very!little!multiZfamily!zoning!exists!in!town.!!As!of!2013,!only!2%!of!
land!in!the!Estes!Valley!was!zoned!for!multiZfamily!residential!(3!to!8!units!per!acre).!
Nearly!half!of!the!land!in!the!Estes!Valley!is!zoned!for!very!low!density,!rural!uses!only!(1!
home!on!at!least!10!acres).!EightZunits!per!acre!is!low!even!compared!to!most!other!
mountain!resort!communities!in!Colorado.!!!
!
Density!bonus.!!
• The!current!Estes!Valley!Development!Code!allows!a!50%!density!bonus!(e.g.!
from!8Zunits!per!acre!up!to!12Zunits!per!acre)!if!attainable!housing!is!proposed!as!
part!of!a!development.!!The!density!bonus!is!subject!to!discretionary!review!and!
may!not!be!granted.!
• Attainable!housing!is!defined!as!rentals!for!households!earning!60%!AMI!or!less!
and!ownership!for!households!earning!80%!AMI!or!less.!!These!price!points!
“I#have#been#in#this#town#for#18#
years,#and#have#seen#this#issue#go#
from#bad#to#worse.#I#was#one#of#
those#forced#to#leave#the#old#trailer#
park.#The#lot#is#still#empty.”#
Estes!Park!Area!Employee!
!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!105!
overlap!with!what!can!be!produced!with!federal!funding!(units!for!80%!AMI!
households!or!below).15!!
!
Residential!Zoning!Acreage:!!Estes!Valley,!2013!
Residential!Land!Use!Total!Acres!Percentage!
MultiOfamily:!3O8!du/acre!(RM)!319!2.0%!
Single!Family:!10!acre!min.!(REO1)!7,369!46.3%!
Single!Family:!2!1/2!acre!min.!(RE)!4,694!29.5%!
Single!Family:!1!acre!min.!(EO1)!2,212!13.9%!
Single!Family:!1/2!acre!min.!(E)!1,026!6.4%!
Single!Family:!1/4!Acre!min.!(R)!202!1.3%!
Single!Family:!5,000!s.f.!min.!(RO1)!14!0.1%!
Two!Family:!27,000!s.f.!min.!(RO2)!74!0.5%!
TOTAL!15,910!100.0%!
Source:!2013!Town!of!Estes!Park!and!Larimer!County!Land!Use!Records,!as!reported!in!the!Estes!Valley!
Comprehensive!Plan!(2012!Update),!Chapter!Four:!Land!Use.!
!
Townhomes.!!Until!2011,!townhomes!were!not!a!recognized!product!under!the!
Municipal!Code!in!the!Estes!Valley.!!Townhomes!are!presently!permitted!in!the!RZ1,!RZ2,!
RM,!A!and!AZ1!zone!districts.!Townhomes!are!a!preferred!attached!product!type!by!
many!locals!in!mountain!towns,!including!the!Estes!Park!area!(see!Section!8!–!Housing!
Preferences).!!!
!
Accessory!Dwelling!Units.!The!rental!of!ADUs!has!been!proposed!and!rejected!in!the!
past.!!This!should!be!revisited!as!it!can!help!provide!employee!housing!for!locals.!
Crested!Butte!and!Telluride!have!effective!ADU!provisions.!
!
Planned!Unit!Developments.!The!use!of!PUDs!is!limited!and!must!include!a!commercial!
component.!!As!new!development!opportunities!have!decreased!and!redevelopment!
opportunities!have!grown,!more!flexible!PUD!standards!are!needed!to!make!the!most!of!
hard!to!develop!lots.!
!!!!
Development!Fee!Waivers.!!The!Town!Board!has!been!assisting!many!developments!
with!fee!waivers.!!Fee!waivers!made!the!affordable!rental!project,!Falcon!Ridge,!feasible.!
The!Town!should!selectively!apply!fee!waivers!for!projects!that!advance!Town!goals!and!
needs,!such!as!supporting!attainable!housing.!
!
Buildout!Analysis.!!The!Town!last!updated!its!buildout!study!in!2007.!The!study!
estimated!that!the!Town!could!accommodate!about!7,780!total!residential!homes!under!
thenZcurrent!zoning.!!Presently!68%!of!homes!are!occupied!by!yearZround!residents.!
This!means!that!5,100!of!these!7,500!units!should!accommodate!the!needs!of!local!
residents!if!the!town!wants!to!preserve!its!character.!Applying!estimates!of!housing!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
15!See!Estes!Valley!Development!Code,!§!11.4!Attainable!Housing!Density!Bonus.!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!106!
units!in!the!Estes!Park!Area!(which!is!a!larger!area!than!the!Estes!Valley)!indicates!that!
about!2,000!residential!units!remain!to!be!built!–!1,390!of!which!should!be!for!residents.!!
!
This!analysis!is!an!important!planning!tool!for!the!town!and!can!help!when!evaluating!
proposed!projects!to!ensure!town!attainable!housing!goals!are!being!met.!
!
Estes!Valley!Estimated!Buildout:!!2007!
LAND!USE!
ACRES!BY!
CLASSIFICATION!
ESTIMATED!
BUILDOUT!
(existing!plus!
future!units)!
MultiOfamily:!3O8!du/acre!(RM)!294!2,255!
Single!Family:!10!acre!min.!(REO1)!2,859!344!
Single!Family:!2!1/2!acre!min.!(RE)!4,332!1,121!
Single!Family:!1!acre!min.!(EO1)!1,887!1,583!
Single!Family:!1/2!acre!min.!(E)!899!1,560!
Single!Family:!1/4!Acre!min.!(R)!154!583!
Single!Family:!5,000!s.f.!min.!(RO1)!13!78!
Two!Family:!27,000!s.f.!min.!(RO2)!65!254!
TOTAL!10,503!7,778!
Estes!Park!Area*!(2015!existing!homes)!(example!only)!5,735!
Remaining!housing!to!be!built!(example!only)!2,034!
Resident!Housing!(68%)!(example!only)!1,390!
Source:!2007!Buildout!Analysis,!as!reported!in!the!Estes!Valley!Comprehensive!Plan!(2012!Update),!
Chapter!Four:!Land!Use.!
*Estes!Park!Area!housing!estimates!represent!a!larger!area!than!just!the!Estes!Valley.!!This!number!is!
provided!for!example!purposes!only!–!the!number!of!units!remaining!to!be!constructed!in!the!Estes!Valley!
should!be!higher!than!represented!in!this!example.!
!
Funding!
!
To!date,!affordable!housing!development!has!mostly!relied!on!the!use!of!Low!Income!
Housing!Tax!Credits.!!A!few!units!have!been!produced!by!the!private!market!(The!
Neighborhood),!and!others!through!creative!financing!by!the!EPHA!(Vista!Ridge!and!The!
Pines)!to!produce!both!affordable!ownership!and!rental!units.!
!
The!Town!presently!does!not!have!in!place!a!source!for!affordable!housing!revenue,!but!
has!provided!direction!to!staff!to!explore!options.!!Many!options!are!presented!in!the!
Strategies!section!of!this!report.!!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!107!
Organizations!!
!
Estes#Park#Housing#Authority#(EPHA)#
!
In!addition!to!the!rental!units!it!owns/manages!and!the!ownership!units!it!oversees,!
EPHA!offers:!
!
• Estes!Valley!Workforce!Housing!Assistance!(EVWA)!is!a!down!payment!program!
created!by!the!Estes!Park!Board!of!REALTORS®!and!EPHA!to!assist!working!
families!with!incomes!from!81%!to!150%!AMI.!It!is!funded!with!private!
donations,!grants,!the!Town!and!the!Board!of!REALTORS®.!Utilization!of!the!
program!was!low!until!recently,!but!now!the!portfolio!includes!five!loans.!Terms!
are:!!
o A!maximum!loan!amount!of!3.5%!of!the!purchase!price!OR!$10,500;!
o An!interest!rate!of!2%!with!a!10Zyear!term;!
o Repayment!of!the!loan!can!be!deferred!if!needed!to!qualify!for!the!first!
mortgage;!
o Loan!amounts!are!dependent!on!available!program!funding;!
o Applicants!need!to!invest!a!minimum!of!$3000!of!their!own!funds!into!
the!home!purchase;!
o A!prequalification!letter!from!a!lender!is!required;!and!
o Homeownership!education!is!also!required.!!!!
!
• Homebuyer!Education!–!EPHA!refers!buyers!to!a!homebuyer!counseling!program!
provided!online!by!the!Colorado!Housing!and!Finance!Authority.!No!one!provides!
homebuyer!education!classes!in!the!Estes!Valley,!but!classes!are!held!in!Fort!
Collins!and!Boulder.!
!
• Section!8!Rental!Assistance!–!EPHA!has!an!allocation!of!Section!8!rent!subsidy!
vouchers!that!are!awarded!to!income!qualified!households!who!then!must!find!
rental!housing!that!rent!for!no!more!than!the!Fair!Market!Rents!defined!by!HUD.!
EPHA!has!50!vouchers.!Only!42!are!utilized!at!this!time!because!voucher!holders!
are!unable!to!find!units!that!rent!for!less!than!the!maximum!allowed.!
!
While!operational!selfZsufficiency!is!the!goal,!the!Town!has!financially!supported!EPHA!
since!formed!in!2000.!At!its!peak,!the!Town!provided!$250,000!to!$300,000!annually!
with!the!understanding!that!EPHA!would!ask!for!fewer!funds!each!year,!eventually!
reaching!operational!selfZsufficiency!through!income!from!properties.!The!Town!has!
allocated!$50,000!for!2016,!and!also!supports!the!Authority!by!providing!legal!fees,!
office!space!and!phone!service.!The!selfZsufficiency!goal!applies!only!to!operations.!The!
Town!will!still!consider!providing!subsidies!for!the!construction!of!housing,!as!done!
when!$369,000!was!provided!for!Falcon!Ridge.!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!108!
Loveland#Housing#Authority##
!
The!Loveland!Housing!Authority!is!a!sister!agency!to!EPHA.!It!helps!with!various!
administrative!functions!including!accounting,!allocation!of!Section!8!vouchers,!and!is!
now!working!on!the!initial!lease!up!of!Falcon!Ridge.!This!agency!also!provides!several!
homeowner!programs!that!cover!the!Estes!Park!area:!
!
• Larimer!Homeownership!Program!(LHOP)!provides!down!payment!assistance!to!
households!with!incomes!no!greater!than!80%!AMI!who!are!purchasing!a!home!
in!Larimer!County!outside!the!City!of!Fort!Collins.!This!program!has!not!been!
used!often!in!the!Estes!Park!area!because!home!prices!are!too!high,!yet!could!be!
of!benefit!if!additional!deed!restricted!units!are!developed!for!lowZincome!
residents.!Terms!include:!
o A!maximum!loan!amount!of!$10,000;!
o An!interest!rate!of!2%;!
o Buyers!must!contribute!at!least!1%!of!the!home’s!purchase!price;!
o The!home!value!may!not!exceed!the!current!FHA!limits;!
o Funds!will!not!be!reserved!until!a!home!is!under!contract!and!a!first!
mortgage!has!been!approved;!
o Applicants!must!be!preZapproved!by!a!lender!prior!to!submitting!an!
application;!
o Applicants!must!attend!a!first!time!home!buyer!class;!and!
o Home!buyer/Applicant!is!able!to!work!with!any!lender!of!their!choosing!
for!the!first!mortgage;!however,!the!program!reserves!the!right!to!not!
lend!behind!a!first!mortgage!that!would!have!questionable!terms.!
!
• Larimer!Improvement!Program!offers!lowZ!to!noZinterest!rate!loans!to!income!
qualified!families!with!incomes!at!or!less!than!80%!AMI!for!
repairs/improvements.!!EPHA!works!with!residents!to!complete!applications!and!
the!Loveland!Housing!Authority!administers.!Because!of!FHA!limits!and!equity!
requirements,!this!program!better!serves!seniors!than!workforce!households.!
Terms!include:!
o A!maximum!loan!amount!of!$24,999;!
o The!interest!rate!varies!from!0%!to!5%!based!upon!the!family’s!income;!
o Loan!terms!are!very!flexible;!and!
o Focus!on!health!and!safety!related!issues!and!could!include!roof!
replacement!or!repair,!new!siding,!windows!and!insulation!to!improve!
energy!efficiency,!room!additions!in!overcrowding!situations,!etc.!!
!
• Disaster!Relief!!is!a!special!allocation!of!Federal!funding!provided!by!the!
Colorado!Division!of!Housing!to!assist!households!displaced!by!the!September!
2013!flood!and!the!High!Park!fire.!Most!of!the!assistance!is!devoted!to!housing!
rehabilitation,!but!up!to!$50,000!can!be!provided!for!ownership!assistance.!
Under!both!programs,!households!with!incomes!equal!to!or!less!than!80%!AMI!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!109!
who!can!demonstrate!flood!or!fire!displacement!can!apply!for!Disaster!Relief!
assistance.!Terms!and!loan!amounts!are!determined!on!a!caseZbyZcase!need.!!!
!
To!date,!25!households!within!the!study!area!have!received!Disaster!Relief!assistance!
through!these!programs.!
!
Location!#!Households!Assisted!Amount!Provided!
Drake!3!$84,314!!!!
Estes!Park!5!$104,377!
Lyons!(Larimer!Co)!2!$151,262!!!!
Big!Elk!13!140,477.58!!!
Glen!Haven!2!$65,133!!!
Cedar!Cove!3!$88,571!!!!
Source:!!Loveland!Housing!Authority!
#
• Emergency!Grant!Assistance!is!provided!to!owners!who!make!no!more!than!50%!
AMI!for!urgent!need!situations!such!as!burst!pipes!or!a!broken!water!heater!or!
furnace.!Stipulations!include:!!
o Furnace!replacement!first!requires!an!application!with!the!Longs!Peak!
Energy!Conservation!weatherization!program;!
o Grants!cannot!exceed!$1,000!absent!special!circumstances;!and!
o Grants!are!only!provided!one!time.!
Estes#Park#Economic#Development#Corporation#
!
The!Estes!Park!Economic!Development!Corporation!(EDC)!was!formed!in!August!2013!in!
part!to!plan!for!and!promote!the!economic!development!of!the!Estes!Valley;!assist!
existing!local!businesses!to!reach!their!full!economic!potential;!and!use!and!promote!the!
tools!of!economic!development!to!create!a!more!dynamic,!multiZgenerational!
community!to!the!benefit!of!all!citizens.!By!June!2014,!the!EDC!had!helped!over!80!
businesses!with!Colorado’s!Recover!Colorado!business!grant!program!for!flood!and!fire!
recovery!programs.!!
!
The!lack!of!affordable!housing!for!the!workforce!has!long!been!a!problem!for!area!
businesses.!The!November!2015!economic!strategy!study!commissioned!by!the!EDC!
reiterated!that!the:!“Limited!availability!of!workforce!housing!in!the!Estes!Valley!
presents!a!serious!threat!to!the!ability!of!businesses!to!attract!and!retain!qualified!
employees.”!16!!!
!
The!EDC!has!formed!a!Housing!Committee!to!explore!methods!and!opportunities!for!
addressing!workforce!housing.!The!Housing!Committee!is!in!the!process!of!formulating!
policy!recommendations!and!options!to!address!workforce!housing!with!a!vision!toward!
identifying!or!helping!to!facilitate!housing!projects.!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
16!“Estes!Valley!Economic!Development!Strategy,”!Nov.!2015,!Avalanche!Consulting,!pp.!26,!et!al.!
Estes!Park!Area!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!
APPENDIX!A!–!HOUSEHOLD!INCOME!AND!AFFORDABILITY!
CALCULATIONS!
!
Housing!is!affordable!when!the!monthly!payment!(rent!or!mortgage)!is!equal!to!no!
more!than!30%!of!a!household’s!gross!income!(i.e.,!income!before!taxes).!Although!
there!is!some!variation,!this!standard!for!affordability!is!commonly!applied!by!federal!
and!state!housing!programs,!local!housing!initiatives,!mortgage!lenders!and!leasing!
agents.!
!!!
Affordable!rents!and!purchase!prices,!meeting!this!30%!standard,!are!often!calculated!
for!various!income!levels,!expressed!as!a!percentage!of!the!Area!Median!Income!(AMI).!
AMI!is!published!annually!by!the!U.S.!Department!of!Housing!and!Urban!Development!
(HUD)!for!each!county#and!represents!the!Median!Family!Income!of!an!area.!This!means!
that!the!AMI!does!not!incorporate!incomes!from!nonZfamily!single!and!roommate!
households,!which!make!up!56%!of!households!in!the!Estes!Park!area.!As!a!result,!the!
AMI!will!generally!be!higher!than!the!average!income!of!all!households.!!
!
The!AMI!varies!by!household!size.!The!median!(or!middle)!family!income!estimate!in!an!
area!generally!falls!on!or!near!the!100%!AMI!rate!for!a!family!of!four.!In!Larimer!County!
the!AMI!in!2015!is!$77,800.!
!!
Larimer!County!AMI’s!by!Household!Size:!!2015!
AMI!Level!1Operson!2Operson!3Operson!4Operson!5Operson!
30%!$16,350!$18,690!$21,030!$23,340!$25,230!
50%!$27,250!$31,150!$35,050!$38,900!$42,050!
60%!$32,700!$37,380!$42,060!$46,680!$50,460!
80%!$43,600!$49,840!$56,080!$62,240!$67,280!
100%!$54,500!$62,300!$70,100!$77,800!$84,100!
120%!$65,400!$74,760!$84,120!$93,360!$100,920!
150%!$81,750!$93,450!$105,150!$116,700!$126,150!
Source:!!US!Department!of!Housing!and!Urban!Development!(HUD)!
!
Throughout!this!report,!the!analysis!of!affordability!will!be!based!on!the!income!for!a!2Z
person!household,!which!is!about!the!average!size!of!households!in!the!Estes!Park!study!
area.!The!affordable!rents!and!purchase!prices!of!the!average!Estes!Park!area!household!
at!various!rates!of!AMI!are!as!follows:!
!
!!
Estes!Park!Housing!Needs!Assessment,!January!2016!
Rees!Consulting,!Inc.;!WSW!Consulting!!2!
Maximum!Affordable!Housing!Costs!
AMI!Household!Income!Max!Rent!Max!Purchase!Price*!
30%!$18,690!$467!$69,299!
50%!$31,150!$779!$115,499!
60%!$37,380!$935!$138,599!
80%!$49,840!$1,246!$184,798!
100%!$62,300!$1,558!$230,998!
120%!$74,760!$1,869!$277,197!
150%!$93,450!$2,336!$346,496!
Source:!!HUD,!Consultant!team!
*Assumes!30Zyear!mortgage!at!5.5%!with!5%!down!and!20%!of!the!payment!
covering!taxes,!HOA,!PMI!and!insurance.!
!
Interest!rates!have!been!kept!low!for!several!years!and!will!eventually!rise.!Rates!for!a!
30Zyear!fixed!rate!mortgage!currently!average!around!4.5%!depending!upon!credit!
scores.!As!rates!rise,!higher!incomes!will!be!required!of!buyers!to!buy!the!same!priced!
home!today.!For!example,!a!one!percentage!point!increase!drops!the!affordable!
purchase!price!by!$20,000!to!$25,000!for!households!with!incomes!at!80%!AMI.!This!
should!be!a!consideration!when!setting!prices!for!new!homes!and!making!decisions!
about!resale!price!calculations.!
Two issues/concerns:
1) That the comprehensive plan will not be as specific to the needs of the Town and that
the consultants/final product could be overly influenced by input from Larimer County. I
am not saying that the interests of the town and of the county cannot be the same. But
the goal here is ultimately to have a comprehensive plan that guides the incorporated
Estes Park.
2) The finished product will lack substance to help prepare Estes Park for the future.
There are big changes occurring in our country, our state and our county that we need
to plan and prepare for. And that will be hard to do.
Two keywords for vision statement:
forward-looking
sustainable
two issues/concerns
Generational gap: The gaps between (and I'm generalizing a bit) younger, working
families and older, retired residents -- in communication, in vision, in priorities. It feels as
though there's often one perspective supported by the former group and another by the
latter. I'd like to see CompPAC begin to address and close divides, which will obviously
take compromise and some dedicated effort.
Sustainability/responsible use: As we grapple with substantial growth in our tourism
numbers as well as explosive growth in the Front Range, we need to be able to balance
preservation and sustainability with accommodating the changing (economic and
environmental) landscape. I'd like to see how the CompPAC can create a strategy for
caretaking our lands and open spaces while adjusting to the influx of visitors and
residents.
Vision statement keywords:
Inclusive
Innovative
Childcare! Additional issues/concerns: affordable housing, transportation: year round &
bike lane
•keywords: sustainability for all, inclusion
The comprehensive plan will provide solutions to HOUSING that will enable a diverse
economic, social, and generational community to live, to thrive, and to be invested in the
future of Estes Park.
The comprehensive plan will embrace CHANGE, recognizing that we are not and never
have been perfect, and that by adapting we can create solutions for a resilient, healthy
and happy place to live in, to play in, and to visit.
Comprehensive Plan Vision Keywords:
Community and Adaptive
Balancing Development and Preservation
A plan that the community embraces as its own
One or two keywords that could be in a Vision Statement:
Sustainable
Actionable
(1) Getting ahead of issues stemming from a changing climate is vital to the survival of
Estes Park; these include a warming, drying climate with increased wildfires and greater
frequency of "once in a lifetime" storms.
(2) Transportation issues are my second subject: Bike lanes, sidewalks, trails, and
transit should all be expanded to provide transportation alternatives for visitors and
residents alike, and must account for changing technology such as unmanned vehicles
and drones.
Vision statement key words:
- Implementation
- Funding
Issues/Concerns: Floodplain Management in the Downtown Corridor -
Welcoming all types of accommodations - it would be great to add
additional campgrounds in the appropriate zone districts
Consider architectural and aesthetic design standards for
downtown corridor
Improve blighted areas along Highway 7
Vision Statement: vibrant, open-minded
1. Managing Growth - What do we (the community) want when it comes to growth, and
are we prepared to take action to match our desire? If we want growth to continue, we
need to match our infrastructure growth to keep up, including workforce housing, child
care, services, etc.
2. Plan Acceptance - How will we make sure that the plan (1) addresses the various
priorities in our community, (2) is perceived to address the various priorities, and (3) is
understood by all. This will require significant compromise by all, but first will require
groups to be open and honest about what they think will be best for the community in
the long term.
One or two keywords that should show up in vision statement
Community
Proactive / Anticipating
How can the economy of Estes Park be diversified to provide sustainable
career* opportunities?
*For this purpose, a “career” is a job with time-based context, having both a sense of
history and direction. Good careers have depth, meaning, and purpose in which there’s
a compelling future built from growth and development. A successful career personifies
not just the way you make your living, but also who you really are. (Gary Markle,
Energage)
In the context of the future of Estes Park, very few jobs in the tourist service sector
qualify as careers, which is the basis for including diversification in this issue.
Key term for the vision statement:
diversified, sustainable economy
Issues that are important:
- affordable housing solutions- short term and long term
- Economic Development for Estes and entire Valley
One or two words
- thriving; economic sustainability
Community
Proactive / Anticipating
Vision Statement words: Diverse and Inclusive
Top Two Issues
Estes Park needs to have adequate, quality housing to support all segments of its
society – low to moderate income workers, senior citizens, retirees, second home
owners, remote workforce and seasonal workforce units. Private sector and
governmental cooperation is essential to finding opportunities to best use available land
for the continued well-being of the community.
Estes Park must maintain its reputation as first-class visitor destination while sustaining
the beauty of its natural surroundings and unique interaction with wildlife. This will
require attention to environmental, educational, transportation and regulatory issues.
2 concerns:
Comp plan may not be used, just like the last one wasn’t.
The Comp Plan may emphasize tourism growth over quality of life in the
Valley. While tourism is the lifeblood of Estes Park, greater efforts need to also be
made to attract enterprises and work from home employees that provide year round
employment and can add to our economy without sacrificing the beauty of the Valley
nor exacerbate the divide between the incorporated and unincorporated portions of the
Valley.
Key words: Coming together and inclusive
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Miles±Town of Estes Park Proposed Three-Mile Plan Boundary
Printed: 7/2/2021Pursuant to Colorado Revised Statutes Sec. 31-12-105
EVDC Boundary
Town Boundary
Rocky Mtn National Park Boundary