New housing for employees part of $40 million deal

New housing for Winter Park Resort employees will be ready this fall after the resort took out an almost $40 million loan to fund the 332-unit project off of U.S. 40 and Winter Park Drive.

The project will include a mix of studio and single-bedroom units to serve the resort and other local businesses.

Colorado has a statewide affordable-housing problem, but mountain towns face a particular crisis, as the lack of housing discourages potential new hires from joining the ski industry, the Colorado Department of Transportation and more. The lack of housing translates to unfilled positions.

Winter Park Resort describes its housing options as “extremely limited,” with most employees securing spaces on their own.

Headquartered in Denver, Alterra Mountain Co. operates Winter Park Resort, along with 14 other destinations. It also serves as the parent company of Steamboat Ski & Resort Corp., and owns Ikon Pass, the multiresort ski and snowboard season pass.

“The employee experience is a key component of the foundation of Alterra Mountain Co., and we must provide attainable housing accommodations for our valued team members who serve as the backbone of our resort,” Sky Foulkes, president and COO of Winter Park Resort, said in a prepared statement.

The company has prioritized the housing project ahead of resort expansion plans aimed at guests, according to the news release.

Current property locations for Winter Park employees include Fraser Condominiums in Fraser at a monthly cost of $420 to $450 per person and lodges near the resort for a monthly fee of $400 to $450 per person.