Homeownership Opportunities

Silver Creek Village Townhomes

Silver Creek Village is a new community of over 1,200 residential units location to the southeast of the intersection of I80 and US40. Approximately one-third of total units will be restricted for affordable workforce housing. The first phase of development will include up to 22 affordable townhomes available to the workforce.

Affordable Units

  • 22 townhomes in Phase 1 (up to 103 total between 2017 - 2020)
  • 3 bedroom units are 1,400 square feet
  • 4 bedroom units are 1,480 square feet
  • 2-car tandem garage
  • 4 stories

Eligibility

  • Annual household income below 80% of Area Median Income, with certain units reserved for incomes below 60% 
  • Preference for local workforce
  • Must qualify for financing through a local lender

Employment Qualification

Full time (30 hours of employment per week) employees of agencies, organizations or businesses located within Summit County.

Timing

Phase 1 construction expected to commence by Fall 2017 with units ready for move-in by Spring 2018

Anticipated Pricing

$250,000 to $310,000 based on unit type, size and location within the development.

Restrictions

Owner Occupied (no rentals)

Resale price appreciation capped at 3% per year

Community Land Trust (CLT): These units are built on donated land which is how the price is made affordable. MCHT will retain ownership of the ground and the unit owner will purchase the townhouse improvements only (not the land), and pay a nominal monthly land-lease fee. Click here for more information on CLT.


HOA Dues and CLT Lease Fees

Estimated at $200 per month

DOWNLOAD SITE AND FLOOR PLANS

Discovery

Discovery is a new residential neighborhood located west of Kimball Jct near the Weilenmann School of Discovery. The development will consist of 97 total residential units, with 30 of the those unit being deed restricted as affordable housing  for the local workforce.

Affordable Units

  • 25 townhomes, 4 duplex units, 1 single family home
  • 3 bedroom townhomes are 1,470 square feet
  • 4 bedroom townhomes are 1,530 square feet
  • 2-car  garage

Eligibility

  • Annual household income below 80% of Area Median Income
  • Preference for local workforce
  • Must qualify for financing through a local lender


Timing

Estimated Completion Spring 2018 (Note: Discovery also includes 67 market rate townhomes and houses)

Anticipated Pricing

$320,000 to $420,000 based on unit type, size and location within the development.

Restrictions

Owner Occupied (no rentals)

Resale price appreciation capped at 3% per year

Click here for more information about Deed Restrictions

HOA Fees

Estimated $250-$300 per month

DOWNLOAD SITE PLAN AND FLOORPLANS

Subscribe to our E-newsletter