During this week’s meeting, Basalt Town Council was presented with a final report from the City of Aspen estimating that Basalt will need an additional 299 units of housing over the next 10 years in order to keep up with regional growth. In addition, the council unanimously and eagerly approved the first reading of the final plan PUD for Black Mountain, a 76-unit development at 431 Emma Road.
“In my opinion, the applicant had a near perfect match to master plan intentions. We don’t ever see that,” Councilor Angele Dupre-Butchart said with regards to the Black Mountain application.
The housing needs assessment, prepared by Economic & Planning Systems on behalf of the City of Aspen, attempts to summarize both present housing needs across Pitkin and Garfield counties, as well as future housing needs based on projected growth in the region over the next 10 years.
The assessment finds that current housing needs are split approximately 50-50 between Pitkin and Garfield. However, based on estimated growth rates shifting westward, over 70% of future need is expected to be in Garfield County. The entire region is facing a housing shortage of 3,490 units, with a need of 4,196 more projected over the next decade, for a total of 7,686.
According to the assessment, Basalt is currently experiencing a shortage of 213 units, with a projected need of 147 units over the next 10 years, grossing 360 units. Due to 61 units being in the development pipeline already, Basalt is currently experiencing a net housing need of 299 units.
However, that projected need may be propped up by the 64 residential units at Black Mountain.
Basalt Town Council first approved the sketch plan for Black Mountain in August 2023, which had required the annexation of two separate properties. The larger property, once known as the Jadwin Farm, extends from Emma Road to the Roaring Fork River and falls within the Town’s Urban Growth Boundary (UGB). The other property, referred to as the “dog leg,” runs along the road and sits outside the UGB. Initially, the applicant, Jadwin Park LLC, intended to construct 68 dwelling units, 12 short term rental cabins, and seven glamping pads. After several updates since then, the applicant now proposes 64 dwelling units and 12 commercial lodging cabins.
Because the larger property falls inside the UGB, the Master Plan requires associated improvements, including transportation, dedicated park acreage, a minimum of 20% affordable housing, trail connections and a childcare facility on the dog leg.
However, upon further consideration, the council decided against developing a childcare facility on the dog leg due to it falling outside the UGB. In lieu of a childcare facility, the council accepted the applicant’s proposal to provide a $700,000 contribution to general public benefit. In addition, the dog leg will also be contributed to the Basalt community as a public open space.
In terms of affordable housing, the final plan exceeds the minimum requirements of 20% of residential units and 25% of residential floor area being deed restricted as affordable housing. Jadwin Park instead proposes that 50% of the residential units and 35% of the residential floor area be deed restricted.
In addition, the applicant proposed that 20 of the market-rate units be prioritized for locals, as part of what it calls the “First Tracks” program. First Tracks units are also proposed to be deed restricted such that, although they will not have price caps, they will be offered for sale only to individuals who have lived between Aspen and Glenwood Springs for at least one year.
During the first reading, council discussed the timing of the $700,000 contribution and suggested that it might be best used for buydowns. The applicant initially proposed to pay the contribution upon the issuance of a certificate of occupancy for the seventh free-market unit. However, in order for the contribution to be used for buydowns, council requested for the payment to be made up front, to which the applicant agreed.
“Buydowns [are] the most optimal way to spend our money to preserve affordable housing and get the most bang for our buck,” Mayor David Knight said.
Basalt Town Council unanimously approved the final plan on first
reading. A second reading and public hearing will be held on Aug. 11.