Described as the first housing project of its kind built in Craig in more than 40 years, the 8th Street Townhomes are ready for purchase.

Local officials, project partners and community members celebrated completion of the attainable housing project with a Thursday ribbon-cutting ceremony. The 8th Street Townhomes consist of 20 new two- and three-bedroom units reserved for local workers.

According to city officials, the $11.5 million project was made possible through a public-private partnership with support from the Colorado Department of Local Affairs, the Colorado Department of Housing, the Yampa Valley Community Foundation, El Pomar and the Bank of Colorado.

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The affordable housing project is at the former Memorial Regional Hospital site between Tucker and Russell streets. The new homes vary in size from 1,152 to 1,368 square feet, with four buildings each housing five units.

“This project creates over 25,000 square feet of living space in beautiful Craig — close to downtown and other amenities,” Craig Mayor and Housing Authority Chairman Chris Nichols said at Thursday’s ceremony, while emphasizing how the new homes will enhance the community and improve living conditions for middle-income families in the area.

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In addition to local officials and project partners, state Sen. Dylan Roberts also spoke about the need and the importance of the 8th Street Townhomes.

“Housing is the No. 1 thing that I hear about from my constituents — what they need in their communities so that employers can have the employees they need, our kids can have the teachers they need and our police departments can have the officers they need,” he said.

Roberts also referenced his work on legislation in 2022 — the Transformational Housing Grant Program — that helped ensure one-time funding received from the federal government would go to some of “the most transformational and innovative partnerships” across Colorado including the 8th Street Townhomes.

“I am really excited to be here today, but more excited for the many families and future families that are going to occupy these homes and continue to contribute to the great community of Craig,” Roberts said.

City Manager Peter Brixius also expressed his gratitude for the funding.

“We received over $5 million in grant funding to support the project,” Brixius said. “Without that funding, this project wouldn’t have happened.”

ProSet Construction, the project’s general contractor, partnered with Fading West Building Systems and many local subcontractors to build the homes. In addition to the construction and funding partners, other local leaders also touted the project.

“This is a great project, and we were happy to be able to donate this land to the housing authority,” Memorial Regional Health CEO Jennifer Riley said. “We know it’s the best use for it. We are very proud of the work that’s been done by everyone to make this a reality.”

Yampa Valley Community Foundation President and CEO Tim Wohlgenant echoed Riley’s sentiments and noted that the project has garnered attention beyond the Yampa Valley.

“Peter (Brixius) and I were honored with a national award because of this project,” Wohlgenant said. “We won an award from the Housing and Urban Development and the Council on Foundations as an example of a public-philanthropic partnership.”

The 8th Street Townhomes are now available for purchase. While the units are complete and ready for occupancy, some exterior features including fencing, carports and landscaping will continue coming together over the next year.

According to the project website 8thStHousing.com, the two-bedroom units are priced at $279,000 while the three-bedroom units are going for $329,000. The homes are limited to households earning up to 140% of the Area Median Income for Moffat County. That equates to $92,400 for one person or $131,880 for a four-person household.

The units will also be restricted to prevent use as a short- or long-term rental property and must be the owner’s primary residence. Buyers will also need to be income-qualified through the Craig Housing Authority.

Anyone interested in purchasing one of the homes should contact the Yampa Valley Housing Authority’s listing agent, Cornerstone Realty, and local lenders to begin the purchasing process.