Ten new single-family modular homes will become available for purchase in November as part of the town’s Rock Creek housing project.
Ignacio Town Manager Mark Garcia said the homes will be available to families who make under 140% area median income. According the data from the HomesFund used to measure area median income, a family of four making under $154,700 would qualify.
The town has been working with Fading West Development in Buena Vista to offer the modular homes as part of a bigger mixed housing development at Rock Creek, a 5.8-acre property next to Quinchas Hill Avenue and north of Candelaria Drive.
Currently, the town aims to offer a three-bedroom, 1,300-square-feet modular home for around $340,000, right around Durango Area Association of Realtors’ first-quarter average home price for Ignacio.
The modular homes are supposed to be shipped from their manufacturer in Buena Vista to Ignacio by the end of September, Garcia said. The 10-unit first phase of the project will cost around $6.7 million.
The second stage of the project will provide 11 more single-family homes to the town and is slated to finish sometime in 2025.
“We're hoping that this housing will provide workforce housing for people within our community and in the surrounding area,” Garcia said.
The town received a $2 million grant for infrastructure from the Colorado Affordable Housing Incentives Grant Program. It will also serve as the primary developer on the project while utilizing local construction services, Garcia said.
La Plata County commissioners and Ignacio officials are engaging in negotiations about more project funding.
“We're trying to see how far the IHOI (Affordable Housing Development Incentives Grant Program) funds will go. And then supplement with county funds where need be on both the infrastructure funding and the vertical construction piece,” Gracia said.
Like other parts of the county, Ignacio is struggling to maintain affordable housing for its workers. The town’s largest employer is the Southern Ute Indian Tribe and the Rock Creek housing development could provide its employees more options, Garcia said.
The primary focus of the 10 units is to get Ignacio’s workforce to own homes rather than rent. Garcia said the town has been working with HomesFund to assist with homebuyer trainings and offer some down payment assistance.
Down payment assistance would include anyone who falls under 80% area median income, which would be 88,400 for a family of four.
The single-family units are part of an even larger project that will include multifamily units. The Southern Ute Indian Tribe received $3 million in congressional spending from Sen. John Hickenlooper for the multifamily portion of the project.
tbrown@durangoherald.com
