Affordable units sparking local interest
Gray’s Crossing’s 225 affordable units are roughly 18 months away from being constructed, but the anticipation is already building.
As sign-up sheets for the units pop up online and around town, people are wondering how the units will be awarded if there are more applicants than homes.
The sheets are not waiting lists or qualification rosters, said East West Partners, developers of the 725-unit Gray’s Crossing. They are simply to gauge interest in the housing and gather contact information of potential buyers.
“Right now we want to see what kind of interest there is out there in the community,” said Gray’s Crossing Project Manager Rick McConn.
McConn said East West plans to work collaboratively with the town on the details of the affordability program, part of the development agreement between the two parties. The only parameters of the program are that the buyer live or work in the Truckee area.
While income qualifications will narrow the applicant field, additional qualifications that rank applicants may become necessary if demand is high. The program could be as simple as the one that The Boulders uses, ranking potential buyers on a first-come, first-serve basis.
“There’s a lot of those kinds of issues that have to be hammered out and we’re not there yet,” McConn said. “We’re going to have to go through and really refine this program.”
East West has received about 100 sign-ups on its interest lists so far.
The anticipation over Gray’s Crossing’s affordable housing is understandable in an area that many feel is undergoing an affordable housing crisis. The development will provide a windfall of affordable units whose prices will be tied to Truckee’s affordability grid for very low, low, median and moderate incomes.
Now that the construction season is starting, East West is focused on getting the roads and utilities in place so that when building season rolls around next year, the units will be ready for construction, McConn said. During the winter the development team will work on the design of the housing and the affordability program.
While the program’s guidelines under the development agreement are loose, the agreement specifies that the parties will enter into a Operating Memorandum – an annual review to determine if the objectives of the agreement are being met.
Gray’s Crossing is a 725-unit golf course development on both sides of state Route 89 north. The 89 cottages, which will be targeted to moderate income families, will go up on the west side of Route 89 north of Alder Drive. Attached multifamily units are proposed for east of Route 89 and south of Prosser Dam Road.
Those interested in the affordable housing units at Gray’s Crossing can access the online sign-up sheet at http://www.grayscrossing.com
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