News Flash

City of Durango News Flash

Posted on: December 14, 2022

Lottery for new deed-restricted townhomes set for Thursday

Lottery copy

Durango, CO: HomesFund, in partnership with the City of Durango, is holding a lottery on Thursday, Dec. 15, 2022, starting at 3 p.m. to choose the potential buyers for the four  income-qualified units at the Animas City Park Overlook Townhomes development.

 The lottery will take place at City Council Chambers, 949 E. 2nd Avenue. The event is also available via Zoom (https://durangogov.zoom.us/j/89289503825

 The twenty-two (22) unit townhome project developed by Agave and Reynolds Ash & Associates is situated along 33rd Street and East 2nd just seconds away from the Animas City Park, the multi-modal path, and the Animas River. The project is under construction with anticipated units coming online early 2023. 

The lottery will determine the chronological list of potential buyers for all four income qualified units.  Applicants do not need to be present to be selected. HomesFund staff will notify all households in the lottery of their position in the lottery list via email within two full business days of completion of the lottery. 

Other eligibility requirements may apply, including income verification. Prospective homebuyers are advised to contact HomesFund for more information about these units or the Mortgage Assistance terms and program eligibility. HomesFund can be reached at 970-259-1418, info@homesfund.org, www.homesfund.org, and are located at 150 East 9th Street #207 in Durango. 

The development is being constructed in two phases. In phase I, three of the income-qualified units will be ready for sale and occupancy in the Spring of 2023. One income-qualified unit will be completed in phase II and will be ready for sale and occupancy by the end of 2023. The income-qualified units will have a reduced sale price of $399,999. They are  similar in size to the other units in the development and will have the same finishes as the market rate units. The two income-qualified units in Phase I will be a 2-bedroom/2.5-bath unit and a  3-bedroom/2.5 bath unit. For Phase II, the remaining income qualified unit will be a 3-bedroom/2.5 bath. 

Questions regarding the size, location, finishes, price, etc. of the units may be directed to the builders, Agave and Reynolds Ash & Associates. The contact information for Agave can be found on their website - https://www.agavedurango.com/.    

_______________________________________________________________

City of Durango logoMedia Contact
Eva Henson 
Housing Innovation Manager
Phone: (970) 375-4857
Email: eva.henson@durangogov.org


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