Why Granby's Least Expensive Workforce Homes Are the Ones Still for Sale

The Town of Granby's Nuche Village page has a pricing table with four rows. Each home type is tied to an income level. The middle-unit townhome is priced for a household at 100% of Grand County's area median income, the end-unit townhome at 120%, the duplex at 130%, and the three-bedroom single-family home at 140%. As of early November 2026, the "available" column shows zero duplexes, zero single-family homes, 7 middle townhomes and 14 end townhomes.

So the most expensive homes in an affordability program sold out, and the least expensive ones are still listed. The program's own eligibility rule explains the pattern, and that pattern now shapes how the town plans to build the rest of the neighborhood.

The Price Ladder Assumes Buyers Will Sort Themselves

Nuche Village sits east of US Highway 40, between Silverside and the Flying Heels Rodeo grounds. Phase 1 has 29 ownership homes and 75 rental apartments. The ownership homes are deed-restricted, so they must be a primary residence, the household must meet a Grand County work requirement, detailed in the FAQ below, and appreciation is capped.

Here is the town's Phase 1 table, with one column added. Price per square foot is calculated from the town's own target prices and unit sizes.

The key is the "Priced at" column. It sets the price, but it doesn't decide who can buy. The town's ownership application lets any household earning below 160% of AMI buy any housing type. For a four-person household, the town's chart puts 160% of AMI at $197,120, while 100% is $123,200.

The ladder only works if each household stays on its own rung, and nothing requires that. A household that qualifies for the single-family home also qualifies for the middle townhome, and it gets to choose. The table shows which homes are left, and the cheapest ones are among them.

The end-unit townhome is the clearest case. It is the same 1,024 square feet as the middle unit, has the same patio storage, and costs $52,185 more. Per square foot, it is the most expensive home in Phase 1. It costs more per foot than the duplex, which comes with a garage, and there are 14 of them, the largest block still listed.

A 3% Cap Pays Out in Dollars

The deed restriction limits appreciation to 3% a year, plus extra equity for capital improvements. The cap is the same percentage for every home type, so the dollars it allows grow with the purchase price.

Here is what five years of the full 3% would add, using the town's target prices:

• Middle townhome: about $54,800 on $344,213
• End townhome: about $63,100 on $396,398
• Duplex: about $73,000 on $458,522
• Single-family home: about $84,100 on $528,188

Over the same five years, the single-family buyer's allowed gain is about $29,000 more than the middle-townhome buyer's. That buyer also gets a third bedroom, a garage and 416 more square feet. The $1,400 difference in estimated monthly payment between the two buys more space and more capped equity.

The middle townhome also has a possible extra constraint. At the April 14 trustee meeting, Sky-Hi News reported that Town Manager Ted Cherry was concerned about a state funding mechanism for the middle units. It would attach a 30-year deed restriction requiring resale at no more than 100% of AMI. Cherry told trustees:

"I'm having some major concerns with that program with the state because it is so directly tied to a 30-year deed restriction at 100% AMI, which restricts the resale side of things for people."

Why the Town Feels Every Unsold Townhome

Granby isn't just running a lottery here. It is also the lender. Sky-Hi News reported in September that the town had transferred about $1.2 million to $1.3 million from its general fund toward repaying a $5 million construction loan, leaving about $3.8 million to repay. That internal loan is repaid through home sales.

Sales have come slowly. The September 8 trustee packet reported two Nuche properties sold in the second quarter of 2026 for $955,181 combined. As of September 8, the finance director said there had been no third-quarter home sales. The 21 homes still listed are all townhomes, so the loan balance now depends mostly on the product type that has drawn the fewest buyers.

Phase 2 Is Being Redrawn Around What Sold

Phase 2 is the all-for-sale part of Nuche Village. In an October 13, 2026 workshop memo, staff told trustees the original for-sale product "is not moving as quickly as desired."

The Housing Committee raised several concerns about the original layout, and one was "too many" townhome units. The proposed new layout would:

1. Cut the remaining homes from 77 to 64, partly by turning some triplexes into duplexes.
2. Drop the extension of Rodeo Road through the development. Engineers noted it would have served only eight homes, all on one side of the street.
3. Move the main park and dog park from expensive sloped sites to a central spot surrounded by housing, with some parking.
4. Replace the straight connection into the Silver Sage subdivision with a turn, which the memo says would slow traffic into that area.

The memo presented this as a workshop item that needed direction from the board before platting could begin.

The schedule is set by a grant. Phase 2 has $750,000 from the Colorado Department of Local Affairs, with a required town match of $1,633,679, and the money must be used by the end of 2027. It can pay for water and sewer mains, tap fees and construction costs. It cannot pay for building homes or for paving. The other option in the memo is asking DOLA to extend the deadline to the end of 2028, which isn't guaranteed.

Ten Mile Engineering estimated total infrastructure at $4,141,380 if built in 2027 and $4,316,799 if built in 2028, not counting parks or trails. Its recommendation was to install underground utilities, let the dirt settle for a year, then pave. Because Phase 1 sales have been slow, staff assumed Phase 2 homes and street paving would not come before 2028.

So the sales pattern in Phase 1 is changing what Phase 2 will look like: fewer homes, fewer attached units and a later start. A household that misses the Phase 1 duplexes and single-family homes may be waiting until 2028 or later for the next comparable home in Nuche Village.

What the Process Asks of a Buyer

The 21 townhomes still listed are sold through the town's application and lottery. The town's page and application set out these steps:

1. Get a lender preapproval for the specific home price. A written financing letter must reach the town before the lottery drawing to count.
2. Gather documents. That means recent paystubs from a Grand County employer and a recent tax return. The exact requirements are on the town's ownership application, and everything is due by the lottery draw date.
3. Apply once per household. Each additional working household member adds lottery entries, and the application includes priority tiers.
4. Watch for the drawing. The town announces lottery dates two weeks ahead.
5. Respond within two business days if selected.

Household assets must be under twice the price of the home applied for. The application also lets applicants request down-payment help from the Grand County Housing Authority. HOA dues are $85 a month for every home type.

FAQ

Who counts as working in Grand County? The town's rule requires at least one household member to work 32 hours a week, or 1,200 hours a year, for a Grand County employer. A household also qualifies if a member worked in the county for at least five years before retiring, or works in a job that requires being physically present in the county.

Can an owner rent the home out? The deed restriction requires owner occupancy. In September, Sky-Hi News reported that trustees set up a hearing board to handle exceptions, including requests to rent to income-qualified tenants.

Where do the 75 apartments stand? They are on a separate track. As of September, modular manufacturer Vederra had built 22 of the 75. The developer said certificates of occupancy would not come by year's end, and estimated completion by the end of 2027, depending on financing and construction.

This post is general information about a town program. It isn't legal, tax or financial advice, so please confirm eligibility, financing and deed-restriction terms with the Town of Granby, your lender and your own advisors.

Deed-restricted homes like Nuche Village and open-market homes in Granby follow very different rules for price, equity and resale. If you're comparing the two for a home you'll live in and work from, Laura Zietz can help you see how each path fits your plans. Request a private consultation.