Can’t you see it? Brush Creek is an income investor’s dream with a great cap rate. With a $2,000,000 (land value) government subsidy to the owner/developer. It will keep valley residents in the poverty cycle of renting while creating enormous income for the developer owner. Crested Butte needs affordable housing to buy!, not to create a great investment income for the developer. Really, the below market rental rate of $1,950 for a 3/2. You can borrow over $400,000 at today’s rates for that much. Civil servants want a quick easy fi x that requires little work or thought on their part. This small town is looking to get duped again.
Remember BUD LIGHT,