Deed-restricted housing lottery: applications due March 19

By
Kathrine Warren
-
Categories:

Employees of businesses within the Telluride R-1 School District boundary are invited to apply and participate in the Town of Mountain Village’s lottery for the remaining deed-restricted units in the Meadowlark community in the Meadows neighborhood.

Current available unit types:

  • 1-bedroom/1-bath units: $395,287
  • 3-bedroom/2.5-bath units: $778,395
  • 2-bedroom/den/2-bath with garage: $881,558
  • 3-bedroom/3-bath with garage: $1,025,763

Please visit the Meadowlark at Mountain Village website to review the neighborhood site plan, renderings and proposed interiors. The available units are being updated on the website soon.

Who can apply:

Employees within the Telluride R-1 School District are defined as individuals who work an average of 32 hours or more per week at a business with a physical presence with a valid and current business license within the Telluride R-1 School District boundary. If you are applying with a spouse or partner, only one person must be employed locally to qualify for the lottery.

Application and lottery timeline:

  • Tuesday, March 26, 5 p.m.: Group 5 Pre-Qualification Application deadline
  • Tuesday, March 26 at 5 p.m., Town Hall: Unit lottery for Group 5 applicants
  • Wednesday, March 27 through Friday, April 5: Formal Qualification Application process for Group 5 applicants
  • Friday, April 5: Formal Qualification Application deadline for employees within Mountain Village
  • Fall 2024: anticipated move-in

Key deed restriction terms:

  • If you are applying to purchase with a spouse or partner, only one individual must be employed locally
  • No income limitation for purchasers
  • 4 percent appreciation cap
  • Owners may own other property, but Meadowlark must be each owner's primary residence

Lottery application requirements:

  • Pre-Qualification Application
  • Loan Pre-Qualification letter from a reputable mortgage lender (local brokers listed on our website)
  • Copy of applicant's driver's license

Interested in applying?

Please email to initiate the application process.

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