Garfield County Planning Commission Approves $14 Million Glenwood Springs Housing Project

Aspen —A $14 million project. Twelve units.

That’s the rough math on the new housing development in Glenwood Springs, and it’s a start. But let’s look closer at the numbers, because the price per unit tells a different story than the press release.

The Garfield County Planning Commission approved the 12-unit complex on Tuesday. The total cost? $4.8 million. That breaks down to $400,000 per unit. On paper, that sounds like a deal for the average neighbor trying to escape the $600,000 single-family home. In practice, it’s a mid-rise apartment block with a parking garage that eats up half the lot.

The developer, local firm Redstone Properties, says the project will add 12 units to the market. They’re calling it "affordable workforce housing." For context, the county defines affordable as 80% of the area median income. That’s roughly $75,000 a year for a family of four. If you make $60,000, you qualify. If you make $90,000, you don’t. It’s a narrow slice of the pie.

The site is a 2.5-acre parcel off Highway 6, right next to the old textile mill. The views are far from scenic. Nor is it a quiet cul-de-sac. It’s a busy stretch of road where the noise from I-70 bleeds into the parking lot. But it’s close to the hospital. It’s close to the high school. That proximity is what’s driving the price up, not the land itself.

The construction timeline is 18 months. That means if you’re waiting for these units to hit the market, you’re looking at late 2026. That’s a long time for folks who need housing now. The developer says they’ll start breaking ground in Q3. That’s July. If the weather holds. If the supply chain doesn’t. If the county doesn’t add another layer of permitting.

The financing is a mix of private equity and a $1.2 million tax increment financing district. That’s public money. Your property taxes are already stretched thin. This adds a bit more pressure. The TIF district covers the infrastructure costs — roads, water, sewer. It doesn’t cover the building itself. So you’re paying for the pipes, the developer is paying for the bricks.

The units will be one-bedroom and two-bedroom. No studios. No luxury penthouses. Just standard, boxy apartments. The design is modern. Concrete and glass. It fits the aesthetic of the new developments popping up along the Roaring Fork River. It doesn’t fit the historic district. But it’s not in the historic district. It’s in the industrial zone.

The commission voted 4-1 to approve the rezoning. Councilman Mark Davis was the lone dissenter. He said the density is too high for the current infrastructure. He said the traffic study was incomplete. He said the parking ratio is too low. The majority didn’t care. They said the town needs housing. They said the market is hot. They said it’s a good investment.

It’s a good investment for the developer. It’s a risky one for the town. The tax base will grow. The infrastructure will strain. The neighbors will complain about the noise. The commuters will complain about the traffic. And the folks who can’t afford a house will still be renting.

The bottom line? You’re getting 12 units. You’re paying $400,000 each. You’re getting them in 2026. You’re getting them on a busy road. And you’re paying for the infrastructure with your taxes. It’s a trade-off. It’s a compromise. Hardly a miracle. It’s just housing.