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Benedict Commons

27 units of affordable housing were built on behalf of the City of Aspen to bring the workforce home to Aspen.  These downtown homes were sold to local employees earning approximately $17,000 to $38,000 per year and are deed restricted so as to remain permanently affordable.  

Although unit resale prices only rise with the CPI, purchasers do get the benefits of excellent returns on equity.  For example, if an employee purchases a unit for $100,000 with $5,000 down, and the CPI is 2.5%, in one year the unit price will rise to $102,500 and the resident will have made a 50% return on their investment.  

Living downtown not only improves the lives of the residents, but also prevents the environmental impact of employee commutation into the city.  Other green features include super insulation, Low-E glass, cross-ventilation, and recycled building materials.  The units are gathered around a south-facing interior courtyard providing passive solar heat and community gathering space.  The project won an award from the Aspen Historic Preservation Commission in 1996 for best new construction compatible with Aspen's history and an Ahwahnee Honor Award.