In September 2024, the Yampa Valley Community Foundation furthered its commitment to affordable workforce housing by providing the final funding needed to kick off a major development project in Hayden. This is the Foundation’s second investment in housing since our Impact Investment program began in fall 2023. Prairie Run Apartments will consist of 135 apartments in 13 distinct buildings, the majority of which will be perpetually deed restricted between 80% and 160% of Area Median Income; six of the apartments will be unrestricted free-market rentals. Housing types will include apartments, townhomes and live-work options.
The project is being led by Denver-based Gorman & Company which has a 40-year history of developing some of the nation’s highest quality workforce housing in Colorado’s mountain communities. The Foundation’s $5.25 million below-market loan complemented $69 million assembled by Gorman which included a DOLA Transformational Affordable Housing Grant for the Town of Hayden and discretionary financing from the Colorado Housing and Finance Authority.
As a neighboring community to Steamboat, Hayden has experienced accelerated housing demand and price increases as Steamboat remains increasingly expensive and housing constrained. Hayden is home to Yampa Valley Regional Airport, a large employer with a planned expansion to accommodate its rising enplanements, and an expanding Business Park near the airport.
Prairie Run Apartments will offer ample amenities including on-site management, year-round walking and biking trail access, an adjacent skate park and picnic area, electric vehicle charging stations, and easy access to nearby Steamboat Springs. Construction of the project is expected to be completed in September 2026.