A June report issued by the Blaine County Housing Authority indicates demand for deed-restricted community housing in Blaine County continues to remain strong.
"Well-located, reasonably priced community homes continue to sell at a rapid pace," said Blaine County Housing Authority Executive Director Jim Fackrell. "And that is very different than what the market-rate homes are facing."
The Blaine County Housing Authority manages a database of 440 applicants and 68 deed-restricted housing units that are currently owned or occupied. An additional 28 units are either under contract or are available for purchase.
The authority's report detailing available units or pending sales is compiled, in the words of ARCH Housing Trust Executive Director Rebekah Helzel, "to let employers and employees know that there is housing stock available. There are opportunities."
The following list includes current activity managed by the Blaine County Housing Authority:
· The Fields at Warm Springs (Ketchum): A resale unit became available for purchase on April 28 and was placed under contract on May 7. The seller lived in the home for approximately four years and earned enough equity to buy a market-rate unit.
· Agave Place (Mid-valley): There are six one-bedroom community homes. One, which sold in August 2007 for $173,500, has been released from the deed restriction per the terms of a settlement between Blaine County and the developer, Henry Dean, of Ketchum.
As part of the settlement, prices were adjusted to lower levels more relative to worker incomes and quality and features of the homes. Of the five remaining homes, two are under contract and were expected to close by the end of June.
The six two-bedroom units at Agave Place are now market-rate units and are being offered for sale by Classic Realty.
· Chilali Lodge (Ketchum): One unit was originally reserved by the developer for the homeowner association's on-site manger. However, the new owners of the Chilali development granted the Blaine County Housing Authority authorization to sell the remaining unit on June 4. The home was placed under contract June 10 and was expected to close by the end of June.
· Elkhorn Village (Sun Valley): Two studio units in the Elkhorn Village Condominiums are available for purchase at $71,359 each. The Housing Authority expects to have a signed notice of intent to sell and pricing agreement for two additional two-bedroom units in Elkhorn Springs by the end of June.
The authority continues to receive regular phone calls and inquiries from applicants who have expressed a desire to purchase one of the homes as soon as they become available.
· Scott/Northwood Building (Ketchum): There are 15 community homes offered for sale with one- and two-bedroom units ranging in price.
Twelve of the 15 units have one or more reservation agreements in place. There have been some changes in the reservation agreements, and the authority still has two higher-priced units available for reservation.
The community members represented by the sales include a teacher at The Community School, a Hemingway Elementary School teacher, three retail and restaurant professionals, a Sun Valley Center for the Arts employee, a married couple-both of whom work in management for Sun Valley Co., an office manager for an equity firm, a theater director and employees of the Scott USA, Wilson Construction and Smith Sport Optics companies.
The following includes recent activity by ARCH Community Housing Trust, a nonprofit housing advocacy organization:
· A condominium in Old Hailey is under contract at $110,000.
· One two-bedroom condominium in Old Hailey is for sale at between $100,000 and $105,000.
