Whetstone village

Crested Butte, Colorado

In partnership with Gunnison County, Servitas is developing a 100% deed-restricted community situated on 15 acres of County-owned land 1.5 miles south of the Town of Crested Butte. Rents are designed to average at 125% of Area Median Income and will be deed-restricted in perpetuity.  

Special care has been taken to ensure the Preliminary Sketch Plan approval is not materially changed in order to keep schedule discipline conforming with the requirements of TAHG grant awarded by Colorado’s Dept. of Local Affairs – Dept. of Housing.  

The master planned community features 7 distinct micro-communities housing 252 for-rent units, offering varying product and architectural styles with a mass and scale that mimics the Town of Crested Butte. Servitas, serving the County as a Fee developer, structured the development so that the County’s land will be held in an unsubordinated Ground Lease, paying all excess project cash flow to the County as an annual Ground Lease Payment.