Some clouds. A stray shower or thunderstorm is possible. Low near 55F. Winds SSE at 5 to 10 mph..

Some clouds. A stray shower or thunderstorm is possible. Low near 55F. Winds SSE at 5 to 10 mph.

Bulldozers have been hard at work, south of Norwood’ s Lone Cone Library, developing the site for 24 new deed-restricted homes that will be sold to the local workforce by October. The home-buying process for the new neighborhood, known locally as Pinion Park, is well underway. More than 100 families have expressed interest in buying a new home.

Veterans of the construction industry have said this is the toughest market in recent memory. With material costs and labor shortages, home prices have skyrocketed. The dwindling supply of new homes for sale, along with high mortgage interest rates, have all added  to create a local, state and national housing crisis.

Pinion Park in Norwood is addressing that crisis locally with an innovative approach to building homes priced for the local workforce. Pinion Park has attacked the underlying cost of building homes by acquiring donated land and combining that with low financing costs and efficient, factory-built modular homes. 

In the case of Pinion Park, San Miguel County provided the critical donation of the land. Low-cost construction finance has been raised from local donors, statewide foundations along with the Colorado Department of Local Affairs and Division of Housing. Finally, Pinion Park has partnered with the new Fading West modular home factory in Buena Vista for the various home styles.

Although still in the early stage of construction, Pinion Park is announcing the home prices. The project consists of four home styles and multiple neighborhood lot configurations. Homes will be priced for sale starting at $225,000 for a two-bedroom, two-bathroom, 1,024 square-foot home; $325,000 for a three-bedroom, three-bathroom, 1,216 square-foot home; and an average of $385,000 for a three-bedroom, three-bathroom with an attached garage.

Home prices include preinstalled access to fiber broadband, efficient air-source heat-pump air conditioning, rooftop solar systems, Energy Star-certified GE appliances, and easy installation of electric vehicle charging. Prices for each home, neighborhood site plan and downloadable detailed home brochure can be found at pinionparknorwood.co.

Buyer closing and move-in will be in November.

In addition to affordable prices, Pinion Park has developed partnerships to assist qualified buyers with down-payment assistance and specialized mortgage products. Those interested may visit the Pinion Park website for that information. 

The Pinon Park lottery application deadline is Aug. 31, and the lottery will be conducted on Sept. 22. The lottery application will be posted and available for downloading on July 25 at the San Miguel Regional Housing Authority and Pinion Park websites. Those interested may sign up as an interested buyer also on the website. 

Rural Homes is a subsidiary of the nonprofit Paradox Community Trust. Currently, Rural Homes has one project under construction in Norwood and is planning to construct neighborhoods in Ridgway and Ouray, which combined will bring more than 75 affordable homes to the region in coming years. The Paradox Community Trust is a supporting organization of the Telluride Foundation, which is a community foundation based in southwestern Colorado that makes grants and runs programs in arts, education, health and human services, community development, and social enterprises. For more information, the public may send an email to info@ruralhomesproject.co, or visit ruralhomes.co/.

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