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Vail To Use Lottery System For Affordable Housing

VAIL, Colo. (CBS4)- The Town of Vail will use a lottery system in the competitive market for affordable housing.

The Chamonix neighborhood in West Vail will include duplexes, town homes and multi-family flats.

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Crews are building the homes in a prime location off Interstate 70.

Hundreds have shown interest in the neighborhood but only 32 are available for the affordable housing designation.

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It's been an issue in Colorado's mountain towns for decades. City leaders say the fix won't come overnight and will take a lot of resources including time and money.

"When those homes are currently occupied by Vail residents and go onto the market, nearly nine times out of 10 those homes don't sell to another local," said Vail Community Development Director George Ruther.

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To qualify for affordable housing, people must work at least 30 hours a week in Eagle County.

The affordable homes in Vail typically cost about $500,000.

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