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Posted on: September 28, 2023

City Releases Financials for Lumberyard Affordable Housing Project

 Aspen City Council Votes to Release Additional Financial and Proforma Information for the Lumberyard Affordable Housing Project 

ASPEN, CO – Consistent with its commitment to fiscal responsibility and open governance, the Aspen City Council has released the cost estimates and proforma information for the Lumberyard affordable housing project. This release closely follows the Council's significant decision on Sept. 19, 2023, to approve the project's land use entitlements, and is part of a broader strategy to provide information to the community without negatively impacting the project cost. 

Responsible Fiscal Stewardship 

The Council's decision to release this information underscores its commitment to conscientiously steward taxpayer funds while maintaining a fair and competitive procurement landscape. "As we advance, our objective is to negotiate the most beneficial terms for the city and its residents. However, we are also aware that transparency is an indispensable part of this process," Mayor Torre stated.  

Next Steps

In a nod to public interest, the financial models and other relevant documents can now be accessed on Aspen Community Voice's website at This action is aligned with the Council's plans for 2024, which include infrastructure construction, initiation of a public-private partnership proposal process, and a rigorous examination of various financing options.  This is the best place for the community to obtain project information.  

About the Lumberyard Affordable Housing Project 

The Lumberyard project is designed to tackle the affordable housing crisis in Aspen's upper valley. Spanning an 11.3-acre city-owned site, the approved development is anticipated to feature up to 304 units of housing and will be sustainable, boasting amenities such as solar panel rooftops, pedestrian and bike trails, and extended public transit service.   


For more information, please contact:
William Porter, Communications Director
Phone: 720.281.2060 


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