Gail Schwartz, President, Habitat for Humanity Roaring Fork Valley, CO

1. EDA
DENVER REGION CONFERENCE
National Association of Development
Organizations
4/11/2023
Gail Schwartz, President

2. Our Regional Housing Crisis:
4,000+ Units needed for the regional workforce
4,000+ Units: would benefit those who are underhoused,
cost-burdened (40%), traveling excessive distances, but may not
accommodate new employees needed to fill current positions to
sustain our economy.
Social Costs: workforce that does not live in the community where
they work: transience, family disruption, lack of commitment,
destabilized economies and institutions, retirement trends
45% of the public and private employers in the RFV are
understaffed. Local economy has expanded post COVID
Impacts of COVID 2020-2021: rents increased 42%, local home sales
to out-of-state buyers +80%, home prices increased 42-71%,
mortgage rates up +100%, but wages are lagging increasing 16-34%, .
(WMR Housing Coalition)
The problem: LACK OF INVENTORY
The solution: BUILD MORE AFFORDABLE HOMES
www.wmrhousing.org

3. Habitat for Humanity’s
Exponential Growth in Building Homes
8 Homes 2000-2009
25 Homes 2010-2019
27 Basalt Vista Net-Zero Homes 2019-22
68 Homes Projected In The Next 30 Months
More to come

4. Habitat For Humanity Roaring Fork Valley Communities

5. BASALT VISTA AFFORDABLE NET ZERO TOWNHOMES
27 Homes For Teachers And Working Families - Deed Restricted 70-100% Ami

6. WAPITI COMMONS , RIFLE COLORADO
12 Homes For Working Families
8 ADA Accessible Homes For Older Adults
EZ / Deed Restricted At 80% Ami

7. GLENWOOD SPRINGS 8TH & MIDLAND
8 Condominiums For Working Families - 80% Ami / EZ Pending

8. Family & Community Benefits
Through 80% AMI Deed Restricted Net-Zero Homeownership
● Financial Stability and Wealth Building
● Financial Literacy and Education
● Improved Family Health
● Improved Educational Outcomes
● Positive Environmental/Energy Impact
● Enhanced Civic and Social Engagement
● Economic Benefit to Local Community

9. Our PROUD Homeowners

10. HFH RFV established 1999- 22 years building
affordable homes with local families
ReStore sales of nearly $4M annually
covering 100% of the operating,
administrative costs and loan service for
our affiliate
USDA financing:
$6.8 million ReStore building loan (90%)
Packaged $7.8 M in Section 502 Direct
mortgages for homebuyers
HFH RFV Proven Track Record

11. How to Address The Housing Crisis: Net Zero Modular Plant
The Building Technology of The Future
Habitat Goals:
● Western Slope distribution to communities in need of affordable housing
● Educational partnership opportunities to expand workforce training
● Create new jobs and industries in Western Garfield County communities
● Build more homes and reduce the subsidy gap of $125,000/home
● Impact the housing crisis and create workforce stability
The Facility:
● State of the Art 40,000 - 50,000 SF facility for climate controlled production
● Cold Form Steel Production: cars = homes
● Start up cost - $2.1 million dollars:
○ Equipment $1,755,000
○ Facility improvements $345,000
● Increasing the production per year totaling 626 homes in 5 years

12. How to Address the Housing Crisis:
Net Zero Energy Modular Housing Production
The Building Technology of The Future
Cold Form Rolled Steel Technology 60,000 sf Steel Building Facility

13. Site: Rifle Energy Innovation Center
Location: Enterprise Zone
Timeframe
Q1 2023 - Due Diligence/Partnership Development
Q1 2023 - Land Entitlement / Financing Development
Q2/Q3 2023 - Project Development Underway
Q4 2023/Q1 2024 - Facility Construction Underway

14. ● Wapiti Project Financials @ 20 units:
Construction costs $7,785,960
Less Sales Revenue $4,819,880
● Project GOAL: Reduce the funding gap of >$125,000 per home by 50%
● Modular Project Financials @ 20 units:
Construction Costs $6,187,031
Less Mortgage Revenue $4,819,880
The Project “Gap” -$2,966,080
MODULAR FACTORY IMPACT -
Reduce subsidy by 50% = 2X UNITS
The Project “Gap” - $1,367,151
HFH RFV PROPOSED HOUSING SOLUTION
Building More Units Locally with a Regional Net Zero Modular Factory

15. Return on Investment:
● Open the door to a new operation
for HFH to build at scale
● Reduce subsidy per home
● Train an advanced manufacturing & construction
workforce
● Greater social impacts
● Net-Zero climate benefits
Modular production facility with Enterprise Zone Tax Incentives

16. The People
Behind the
Mission:
HFH Board of Directors
HFH Team
Partnerships
Volunteers
Donors
Students

17. THANK YOU!
Gail Schwartz
President
(970) 309-1411
GailS@HabitatRoaringFork.org