Gold Camp Housing Partners
Empowering Southern Teller County For a Better Future
Market Gap
540 homes need to be built in 5 years per the 2019 Cripple Creek Victor Needs Analysis
Community
We lack rentals at the affordable 50% Area Median Income and lack affordable single-family homes at the less than 100% Area Median Income
Financials
There is a high demand for government funding to get the assistance necessary for small cities to move forward.
Costs
Land costs have increased, and Gold Camp Housing Partners doesn’t have the capital to purchase what’s needed.
Usability
Many of the affordable lots in the city don’t have access to water, sewer, electric, and gas. They are also in flood plains that can’t get funding.
Our Problems
Our Solutions
Close the gap
Pricing strategy. Be sure to include important details like value, length of service, and why it’s unique. This helps us stand out from the crowd to hopefully receive more funding.
Target Audience
Workforce employment creates stability and cash flow in the community. Utilization of daycare, transportation, and medical services make living here easier.
Cost savings
Utilizing government programs to reduce construction interest rates and terms. Capital stacking multiple options to get the job done.
Easy to use
Home Buyer’s Education Programs
Down Payment Assistance
Doors of Opportunity
Lower-interest home loans
Turning Dreams Into Reality
Projects will include single-family and multi-family homes for sale and for rent to local qualifying residents. This will include new construction, existing property renovation, and personal residence enhancement through Accessory Dwelling Units (ADU).
GCHP has already made noticeable progress, and we’re motivated and excited to achieve and exceed our objective going forward.
Gold Camp Housing Partners plans to provide a minimum of 13 affordable single-family homes in compliance with Colorado’s Proposition 123 Affordable Housing Program.
Our objective is to attract likeminded developers who are as motivated as we are in helping bring housing options to communities in Southern Teller County; to create rental and homeownership housing opportunities for families, seniors, and workforce housing for households under 120% AMI in Southern Teller County and surrounding areas.
“AMI” Affordable
Median Income
The single-family housing goals and subgoals are generally based on two criteria: the level of borrowers’ income and whether mortgages are for purchasing a residence (purchase loans) or refinancing an existing mortgage (refinance loans). Low-income borrowers are defined as those whose income is at or below 80 percent of the area median income (AMI); very low-income borrowers have income at or below 50 percent of the AMI.
The multifamily housing goals are intended to ensure that the mission of contributing to the availability of affordable rental housing. Those goals are defined by either the income of the renting household (using the same definitions of low income and very low income that are used for the single-family housing goals) or the size of the rental property. For both single-family and multifamily housing goals, individual mortgages may count toward more than one goal.
“Let us know how we can help YOU.”
Teller County Purple Heart Community
Teller County Purple Heart Community
Getting affordable workforce housing built as quickly as possible.
This shortage has been going on for far too long.
Nearby cities, Buena Vista, Salida, and Leadville, are already showing resilience.
Meet our
Board of Directors
Executive Director - Susan Balcome
President - Shannon Conley
Vice President - Peter Barrett
Treasurer - Mary Housman
Secretary - Kaitlyn Ragsdale
Public Representative - Annie Durham
Public Representative - Travis Phillips
Public Representative - John Prather
City of Cripple Creek Liaison - Jeff Mosher
