New retail for Gypsum: An Illinois real estate development company plans to build a 450,000-square foot power retail center in Gypsum.
The shopping center, on 74 acres off U.S. 6 adjacent to the Eagle County Airport, will include a hotel.
The $40 million project being developed by Next Realty Development of Northbrook, Ill., will complement an adjacent 330-home subdivision being built by Meritage Homes of Aspen.
New housing in Steamboat: Developer Paul Franklin received unanimous council approval for a new residential and commercial project in downtown Steamboat Springs.
The Olympian, at Fifth and Yampa streets, will include 20 market-rate units, three deed-restricted affordable housing units and more than 6,900 square feet of commercial space.
Transfer fees from the sale of the market-rate units – which could be as much as $100,000 – will be donated to the Winter Sports Club. The property is being marketed by Tom Wilson of Prudential Steamboat Realty.
Aurora among most-affordable: Aurora ranks No. 5 nationwide in the Most Affordable Cities category of an annual survey of the Best Cities for Renters.
ApartmentRatings.com examined the most affordable cities, measuring the average cost of a two-bedroom apartment against local income levels.
Aurora comes in behind Lexington, Ky.; College Station, Texas; Greensboro, N.C.; and Tacoma, Wash.
State among least-affordable: Aurora may be considered affordable, but Colorado overall is the 12th least-affordable state in the nation for housing costs, according to another report by the National Low Income Housing Coalition.
The annual Out of Reach report found that the fair- market rent for a two-bedroom apartment in Colorado is $854. A household must earn $2,848 monthly or $34,176 annually to afford that rent and utilities without paying more than 30 percent of its income.
In Colorado, a minimum-wage worker who earns $5.15 an hour must work 128 hours a week to afford the fair-market rent for a two-bedroom apartment, the study shows.
Full results of the survey are available at www.nlihc.org.
