The following is a presentation given before the Longmont City Council on April 5, 2011.
I examined the chart on page 36, particularly those Final Recorded Plats that were NOT highlighted in Yellow. These have some probability of being built over the next 18 months. I focused on those that still have designated affordable units.
Boulder Creek Builders has two of these plats – Kingsbridge and Village at Creekside. Kingsbridge has 10 designated affordables, Village at Creekside has one.
The Boulder Creek website states, “The Kingsbridge community in Longmont has exceeded sales expectations, garnering 25 net sales and 15 closing in 2010. Kingsbridge ranks second in gross sales and fourth in net sales for all …townhome communities in the 11-county area, which includes Longmont…. Boulder Creek Builders is number one in all of Boulder County…for total Sales.”
Boulder Creek bought Village at Creekside. The houses planned are smaller than those already built yet comparable prices expected are higher.
Yeager Farms by Markel Homes has 6 affordables out of a potential build of 53 homes. According to their website, their prices range from $300,000 to $450,000. They state, “In the 1990’s, our company gained prominence in the high-end, semi-custom single and multi family niche.…Markel Homes has endured the cyclical nature of Colorado’s homebuilding industry.”
Fox Meadow by Sopris Homes has platted 102 homes in the price range of $560,000 to $810,000 and 5 affordables.
Two other builders with a total of 8 affordables I was unable to locate on the web.
The evidence of this research indicates that these builders do not need a moratorium on their affordable set aside. They may WANT it; but they do not NEED it.
But Longmont NEEDS affordable housing stock and it NEEDS its affordable housing fund replenished for other affordable programs that do not have a new-construction set-aside.
This moratorium will effectively kill the Affordable Housing Program for the next 18 months. And I suspect that it is a precursor for terminating the program later.
The information infused into the public consciousness about the Affordable Housing Program through comments on the Times-Call website and perhaps to you in phone calls and emails is erroneous and often totally based on ideology.
As elected representatives, you have a non-partisan responsibility to assist the citizens of Longmont. That responsibility does not extend to padding profit margins for builders or fattening commissions for realtors.
Please let the better angels of your natures reject a moratorium on a program that is one of the most valuable programs in stabilizing the greater community of Longmont.