Phase One of The Cottonwoods, an 86-unit deed-restricted condo project from the Yampa Valley Housing Authority, is complete. Buyers began closing and moving into Buildings One and Two this spring, making it Steamboat’s first for-sale affordable housing project in roughly two decades. Located at 1648 Mid Valley Drive, the community offers five floor plans ranging from one to three bedrooms, with prices reduced through $10 million in short-term rental tax funding from the city.
Phase Two is now the active piece of the project: roughly 150 additional units, a mix of affordable condos and rental apartments, are planned for the same site, with completion targeted around the end of 2026. YVHA has also been adjusting eligibility on a portion of Phase One units, redesignating some to lower income brackets with a new application lottery this summer.
Key details:
- Phase One: 86 deed-restricted condos, completed and occupied (Buildings One and Two)
- Phase Two: approximately 150 additional units planned, a mix of for-sale and rental, expected by end of 2026
- Located at 1648 Mid Valley Drive, between Hwy 40 and Pine Grove Road
- Eligibility tied to Routt County workforce/retiree status and income limits