Lottery Opens for Affordable Cottonwoods Condos in Steamboat Springs

New deed-restricted housing project aims to provide homes for local workers and retirees at below-market prices.

Published on Feb. 10, 2026

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The Yampa Valley Housing Authority is launching a lottery process for The Cottonwoods at Mid Valley, an 86-unit affordable condominium development in Steamboat Springs, Colorado. The first lottery on February 24 will target households at 100% of the area median income, with subsequent lotteries in March for higher income brackets up to 140% AMI. The project aims to address the chronic housing shortage for essential workers in the Steamboat Springs area.

Why it matters

Affordable housing has been a major challenge in Steamboat Springs and Routt County, with high home prices pricing out many local workers. The Cottonwoods development, supported by $10 million in short-term rental tax revenue, represents a rare opportunity for the local workforce to purchase homes at significantly discounted rates compared to the open market.

The details

The Cottonwoods at Mid Valley will offer 86 deed-restricted condos ranging from the mid-$200,000s to the mid-$400,000s, amounting to a discount of up to 56% off market rates. The first lottery on February 24 will focus on a 43-unit building, with subsequent lotteries in March for higher income brackets. Qualified households can earn up to three lottery entries based on local employment history and household size. Prospective buyers must complete pre-screening with the Yampa Valley Housing Authority before participating in the lotteries.

  • The first lottery for 100% AMI households will open on February 24, 2026 at 10 a.m.
  • Lotteries for 120%, 130%, and 140% AMI households will follow in March 2026.
  • A second lottery for the remaining 43 units in Building One is expected later in March 2026.

The players

Yampa Valley Housing Authority

A local housing authority that is developing The Cottonwoods at Mid Valley, an 86-unit affordable condominium project in Steamboat Springs.

Alyssa Cartmill

The Sales and Asset Manager for the Yampa Valley Housing Authority, who is overseeing the lottery process for The Cottonwoods.

The Agency

A local real estate firm that is partnering with the Yampa Valley Housing Authority as the transaction broker to handle purchases for The Cottonwoods.

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What they’re saying

“Our goal is simple. To make this process clear and seamless — so more members of our workforce and retirees can thrive right here in Steamboat Springs.”

— Alyssa Cartmill, Sales and Asset Manager, Yampa Valley Housing Authority (steamboatpilot.com)

“This is a milestone moment for our community. For the first time in decades, local workers and retirees have a real opportunity to own a home in Steamboat Springs.”

— Alyssa Cartmill, Sales and Asset Manager, Yampa Valley Housing Authority (steamboatpilot.com)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

The Cottonwoods development represents a rare chance for Steamboat Springs' essential workers and retirees to purchase affordable homes, addressing the area's chronic housing shortage and helping the local community thrive.