It’s time to submit your reservation for a deed restricted Discovery Ridge Townhome!
There are a total of 97 homes at Discovery Ridge and 30 have been reserved as Deed Restricted Housing. These homes are reserved exclusively for buyers who work in Summit County and have been qualified through Mountainlands Community Housing Trust (“MCHT”).
What is a Deed Restricted Unit?
Unit is subject to affordable-housing deed restrictions which preserve the affordability of the home. Prior to closing, the County will record updated deed restrictions to include: a cap on resale price appreciation at 3% per year, an owner-occupancy requirement, household income limits at the time of purchase, and certain restrictions on capital improvements.
Am I Eligible?
To be eligible to purchase the unit you must:
- Be employed in Summit County (at least one of the property owners)
- Occupy unit as your primary residence
- Agree to the updated deed restrictions. The buyer will have time to review the restrictions prior to purchasing the unit.
- Not exceed the annual income limits at the time of qualification (based on household size):
1 person – $59,976
2 person – $68,544
3 person – $77,112
4 person – $85,680
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