A unique approach to building workforce housing in the Colorado mountains
Inside a busy factory in Buena Vista, workers are hammering, spackling and piecing together an answer. At least part of one.
Housing is undergoing an evolution. So-called stick-built homes have risen in price due to a long list of reasons. Into that vacuum walked real estate developer Fading West. The leaders of the company had hoped to help build workforce housing in Buena Vista but found that plan was harder than they thought.
"We had 22 acres that are just south of the high school here in Buena Vista," said Eric Schaefer, chief business development officer for Fading West. "And really, the goal was, the teachers who worked in the schools here, there was no place for them to live. Fire and police, social workers, nurses. So our goal, initially, was just to provide workforce housing for this little town."
Soon they figured out they could create a factory to build homes that would get their final assembly on-site.
"Build these houses quickly. And get them into communities, especially mountain towns that have a really hard time finding a whole bunch of subs and workers to get these things built," explained Schaefer. "They're the same codes as the houses going to Breckenridge, are climate zone seven, snow loads, wind loads, these are not double wide houses or manufactured homes."
Fading West has become a much-desired manufacturer.
"We've become the most popular people in the state all of sudden," Schaefer said. "We believe you could have 10 of these factories scattered in the Front Range and other mountain towns and they would be full all year long making homes."
Some of the current homes are being shipped to places like Eagle County where they will become housing for teachers.
On-site at the development created by Fading West called "The Farm," the boxes are placed one on top of the other on foundations. Roofs and porches are added on site. There is a sameness to them to keep costs down.
"Our sweet spot is really kind of a two-bedroom, two-bath, 900-square-foot house, up to maybe a three-bedroom, two, two-and-a-half bath, maybe 1,800-square-foot house," said Schaefer. Inside there are limitations on variations and countertops.
But they have been able to cut construction costs by about 20%. Fading West believes the housing it's creating is affordable to those making 80% of the median income and more. That's not as affordable as they had hoped, but they believe the prices are the lowest for newly built homes in the Rockies.
The homes start in the mid-$300,000s and go up from there.
"This is not just us solving this," said Schaefer. Communities and non-profits are participating in acquiring land. But with cooperation, it's a piece of an answer to the vexing problem of housing.
Uncovering Colorado: Buena Vista airs Saturday at 6 p.m. on CBS News Colorado.
