Stratton Flats, a unique new Gypsum community offering both attainable free-market residences and deed-restricted reduced-price housing - thanks to a partnership with Eagle County and the Town of Gypsum - announced today sales will begin on Wednesday, July 9, 2008 by appointment. The Stratton Flats sales center will be open daily for walk-in visits beginning Thursday, July 17, 2008.
"There has been so much excitement and anticipation surrounding this project," said Scott Russell, principal of Meritage Development Group. "We're pleased to announce that sales will begin immediately."
With deed-restricted and free-market ownership opportunities available, interested buyers can choose from a variety of price points. Prices for deed-restricted residences begin at $171,000 for condominiums, $300,500 for town homes, and $343,000 for single family homes. Free-market residences start at $344,000 for town homes and $394,000 for single family homes. Pricing and selection is available on a first-come, first-served basis.
The new 47-acre Stratton Flats community will feature 339 total residences, including 152 three- and four-bedroom single family homes, 118 two- and three-bedroom town homes, and 69 one- and two-bedroom condominiums. The single family homes and town homes include one- or two-car garages.
Stratton Flats offers three ownership scenarios for interested buyers: approximately one-third of the community will carry two types of deed restrictions through the Town of Gypsum; approximately one-third will carry a deed restriction through Eagle County; and the remaining one-third will be sold as free-market, unrestricted residences.
"Stratton Flats is absolutely a fabulous opportunity to address the affordable housing issue in Eagle County," said Eagle County Commissioner Peter Runyon. "This is a unique opportunity; I don't know of anywhere in the country where you can choose from three different pricing structures to meet a buyer's specific needs. It's a Petri dish of options."
Buyers can expect a one-stop shopping experience at Stratton Flats. The sales center will handle on-site applications for deed-restricted housing, eliminating the need to apply at the town or county offices, and lenders will be available on-site for guidance and pre-qualification.
"We encourage first-time buyers to contact us about special loan programs and down payment assistance through the Eagle County Down Payment Assistance program," said Russell. "We want the community to know we understand the market climate and frustrations with traditional mortgage lending, and we're doing what we can to help ensure that achievable financing will be available. We have taken proactive steps to simplify the loan process by initiating FHA approval allowing us to make low down payment mortgages available."
Stratton Flats has been created with local residents in mind - individuals and families eager to enter the real estate market. The design for Stratton Flats will carry an understated Victorian theme, creating historical significance and a pleasing aesthetic quality. The interior and exterior finishes make these residences feel like "home."
The neighborhood will also feature two community parks and ample parking, as well as an Eagle County bus stop on-site.
"We've spent an extraordinary amount of time on architectural design and materials selection to ensure we're offering a product that will stand the test of time," added Russell. "Creating a community - a neighborhood - is extremely important to us, and that's why we've designed Stratton Flats with such careful consideration and thoughtful planning."
The community developer, Meritage Development Group, prides itself on delivering both cohesive and cost-effective projects.
"We're promising a quality product with a unique design at an attainable price," added Russell. "The neighborhood will be family-oriented and very much geared toward locals who want to live in the area long-term and own their own home."
The timing for this project is ideal. Gypsum is poised to experience positive growth in the next few years and Stratton Flats homeowners will reap the benefits of purchasing before the boom. With several new public amenities already completed, including a recreation center, amphitheater, ball fields, library, state park, recreation trails, and three golf courses, Gypsum is truly realizing its potential as a hometown. In addition, many new restaurants, shops and retail outlets are planned for Gypsum's new Tower Center development, located adjacent to Stratton Flats. The in-town address gives Stratton Flats a unique neighborhood feel with the convenience of a "downtown" location for both work and play.
"Stratton Flats is a great opportunity for working folks in Eagle County to own a place that they can call home," said Eagle County Commissioner Sara Fisher. "It is community-oriented and complements an already wonderful part of our county. I am excited to have more homeowners join us in Gypsum."
Floor plans, elevations, a site plan and pricing are all available online at www.strattonflats.com. For information about purchasing a home at Stratton Flats, please call 970-524-5544 to schedule an appointment with a sales representative. Beginning July 17, please stop by the sales office, located off of Hwy 6 and Jules Drive in Gypsum, between the hours of 11 a.m. and 6 p.m. Monday through Friday, and 12 and 6 p.m. Saturday and Sunday.
Contacts:
Emily McCormack, 970-331-6145
emily@hulacommunications.com
