Workforce Housing

Gorman & Company’s Workforce Housing Platform primarily serves the middle income worker, typically between 80% Area Median Income (AMI) and 120% AMI. In high-cost communities, this middle-income range provides housing for workers who aren’t yet ready to purchase a home, or find the for-sale market out of reach. Working hand-in-hand with our community partners in their economic development efforts creates attainable housing to support the local workforce.

Communities throughout the country have recognized that their economies depend on a qualified workforce located near employment. Gorman works with communities to locate affordable, workforce housing in strategic locations near key employers. We also work directly with significant employers to develop housing that will offer unique housing choices in a targeted area. These employers then use the availability of this high-quality, rental housing as a recruitment tool providing workforce stability.

Smith Ranch in Silverthorne, CO

Smith Ranch in Silverthorne, CO
Total Development Cost: $33,709,000

Smith Ranch Apartments is a two phased development consisting of LIHTC and Workforce apartment homes in the highly desirable Smith Ranch Neighborhood in Silverthorne, CO. The Workforce development provides 70 newly constructed homes serving those between 80%-120% AMI. These homes are located near public parks, walking and biking trails, employment centers, and a Summit Stage bus stop which loops through Silverthorne with connections to Frisco, Dillon, Keystone, Copper Mountain, and Breckenridge.

 

Sunlight Crossing in Steamboat Springs, CO

Sunlight Crossing in Steamboat Springs, CO
Total Development Cost: $33,238,000

Sunlight Crossing is a 90-unit one, two, and three-bedroom mixed income housing community located in Steamboat, CO. 50% of the apartments are deed restricted to 80% AMI, 25% are restricted to 120% AMI, and the last 25% are non-deed restricted with a locals housing preference. Sunlight Crossing is a multi-modal community connecting local workers to the communities they serve helping to reduce environmental impacts from commuting and bolster sustainable living options.

 

Vista Verde Workforce in Breckenridge, CO

Vista Verde Workforce
Total Development Cost: $75,068,222

Vista Verde Workforce is the second phase of the Vista Verde Neighborhood located in the McCain subdivision of Breckenridge and is focused on housing the nearby workforce. Phase II is adding 172 residential units to the community, and includes a variety of amenities such as onsite property management, outdoor open space, a dog park, picnic areas, a fitness room, and a community room. The design includes all-electric construction, reduced thermal loads through insulation and window designs, in-unit energy recovery ventilation, high-efficiency heat pumps, low-flow water fixtures, low-power density LED lighting, Energy Star appliances and solar photovoltaic panels.

Wintergreen Ridge in Keystone, CO

Wintergreen Ridge
Total Development Cost: $25,021,398

Wintergreen Ridge (North) adds 156 Workforce housing units to the critical Workforce housing shortage in Keystone. This community supports local workers who previously lived in overcrowded or distant housing. Rents are restricted to those earning 30% – 60% AMI and leverages a mixed-income site to further benefit residents by offering a stable community of choice and ‘move up’ housing within the existing housing community as household composition or employment status changes. This is a unique attribute that is exceptionally hard to replicate in rural areas.

Grand Boulevard Apartments in Green Bay, WI

Grand Boulevard Apartments
Total Development Cost: $20,821,269

In partnership with the City of Green Bay, Gorman & Company will develop the JBS project knowns as Grand Boulevard Apartments to serve the local JBS workforce. JBS Foods, headquartered in Brazil, is one of the largest meat processing companies in the world with a local workforce of approximately 1,200 employees. The project consists of new construction of three buildings containing 95 units of one, two, and three-bedroom apartment homes with surface level parking. The City of Green Bay will work to provide local amenities such as a park, urban farm, and other features to make the community feel like home.

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