Crested Butte, CO (December 15, 2023) – TWG (www.twgdev.com), a real estate development company specializing in commercial, market rate, affordable, and senior housing developments, today announces the closing and construction of Mineral Point, a $16 million affordable, multifamily community coming to Crested Butte, Colorado. TWG Development and the Town of Crested Butte have worked closely together with the community to address the need of more housing availability, affordability, and stability.
Located at 607 Butte Avenue, Mineral Point will consist of 34-units throughout three highly energy efficient two-story walk-up buildings, with studios, one-, and two-bedroom layouts. This fully affordable community will serve Crested Butte residents making 30-60% of the area median income (AMI).
“The north end of Gunnison Valley has not received an allocation of LIHTC in almost 10 years. The Town of Crested Butte is deeply committed to providing workforce and missing middle housing. Mineral Point is a critical part of our response to the housing crisis as it responds to the deep need for rentals at the lower incomes and can offer a steppingstone where households experience stability and begin to build their savings,” says Erin Ganser of Town of Crested Butte.
Amenities include a community lounge, dog washing station, A/C, tenant storage, shared laundry, picnic areas, covered bike storage and repair station, and surface parking.
“In celebrating the closing of Mineral Point, it is important to remember: ‘Alone we can do so little—together we can do so much’. This achievement stands as a testament to the power of working together in creating homes and building futures for those in need. TWG is happy to be a part of the Town of Crested Butte’s vision coming to life,” says Megan Adams, TWG Regional Development Director, West.
Mineral Point would not be possible without the Town of Crested Butte, Gunnison Valley Regional Housing Authority, Colorado Housing and Finance Authority, Colorado Department of Housing, Valley Housing Fund, RCH Jones Consulting, Williford, LLC, Redstone Equity, and Horizon Bank.
About TWG Founded in 2007 and headquartered in Indianapolis, TWG is a fully integrated real estate development company specializing in commercial, market rate, affordable and senior housing developments across the country. With a focus on development, financing, design, construction and management, TWG has transacted over $2 billion in development costs and over 10,000 units nationwide. Committed to building strong foundations with its team, equity partners and the communities it serves, TWG knows that Together, We Grow. Learn more at www.twgdev.com.