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Steamboat Springs, CO - Advisory Services Panel
December 15, 2022
Mountain resort towns like Steamboat Springs have long struggled to provide enough housing that’s affordable. Yet in the wake of the pandemic, the situation is worsening: with full-time remote work here to stay, relocation to resort towns is a growing trend — and Steamboat Springs is no exception, resulting in a housing crisis as supply lags far behind demand.
Steamboat Springs is currently 1,400 housing units short of what’s needed. What’s there is pricey: The average sale price of homes has increased by over 70% since 2019, and one-bedroom rents are one-third above the national average. What’s more, about 3,000 units have been converted to short-term rentals, exacerbating the shortage and leaving many locals priced out of Steamboat.
The Yampa Valley Housing Authority invited ULI’s Advisory Services team in to assess the Brown Ranch Community Development Plan, funding concepts, strategy working with the private sector, as well as stewardship and governance.
Photo By ULI
The panel was led by chair Molly McCabe, CEO, HaydenTanner, Bigfork, Montana; and included panelists Jay Bullock, Vice President of Planning & Entitlement, Rancho Mission Viejo, Seal Beach, California; Sandra Moberly, Community and Economic Development Director, Town of Mammoth Lakes, CA, Mammoth Lakes, California; Stephen Norman, Former Executive Director, King County Housing Authority, Seattle, Washington; Lorenzo Perez, Co-founder and Directing Principal, Venue Projects, Phoenix, Arizona; Mike Pitchford, Formerly President & CEO, Community Preservation and Development Corporation, Annapolis, Maryland; and Callahan Seltzer, Principal, HR&A Advisors, Washington, District of Columbia. ULI staff Rosie Hepner, Barbra Gustis, David Zehr, and Rodney Milton supported the panel.
Date: December 4-9, 2022
Location: Steamboat Springs, CO
Sponsor: Yampa Valley Housing Authority
Panel Chair: Molly McCabe, HaydenTanner
Key recommendations from the panel include:
- YVHA’s premier role should be as the “Vision Keeper” and champion of the intended outcome of the Plan.
- YVHA needs partners to implement the Plan, especially a fee-development partner who has community scale development experience and financial strength, and who will oversee the day-to-day oversight of the technical development process and project delivery.
- The affordability of the Plan needs to be expanded to include elderly, disabled and wage earners at lower income levels.
- Implementation of the Plan includes building the capacity of the City, social services, and local businesses, as well as the capacity of YVHA.
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