Dear Editor,
We’ve been part of the local community, owning a 3-family property we rent to locals, for 10 years now. Many locals recognize that housing for the local workforce is a major concern as the town looks to build the village. In a recent Mountain Times article, the developers stated that the target buyers for the condos in the village are “young professionals with a high six-figure income, with young families, looking for a summer/winter getaway home.”
That says two things: these are not homes for the local workforce, nor homes that will be occupied year-round. Yet these homes and the other new housing on Bear will require an additional workforce for maintenance and services while we already have a shortage of affordable housing and workers. Meanwhile, many homes sit empty most days, with the owners hoping to cash in on them as short-term rentals.
In the past 10 years, real estate values and rental rates have soared, with many who purchased homes looking to cash in on short-term rentals rather than occupy them. Our street used to have six homes occupied year-round, with three occupied seasonally or occasionally by the owners. As owners have sold or passed away, these homes have joined those hoping to cash in on short-term rentals, remaining empty the majority of the time. One of those had a long-term tenant who saw her rent increased 100% by the new owner, forcing her out. Currently, only three of the nine homes on my street are occupied year-round, all by people who are part of the local workforce. The other six properties are only rented or owner-occupied several weekends per year since we have such a large stock of rental properties. As I go on my daily walk, I note how many homes are empty most of the time. The writing is on the wall that as the current owners age and move or sell, the new owners will raise the rental rates, likely putting rents out of range of the local workforce. Or worse, put them on the short-term rental market.
Many locals can no longer afford to purchase their own homes, even in Killington or surrounding towns. Even the most inexpensive units in Mountain Green are out of reach now due to the special assessment. “Affordable housing” has been promised, but will it be enough, given the additional workforce needed to staff the promised housing, facilities, and shops? Even existing openings are never completely filled since Killington and local businesses are constantly searching for workers.
To address the issue of workforce housing, several ski towns have or are looking to tax incentives to homeowners who rent to those in the local workforce. I’ve been told that Belleayre in the Catskills has such a policy. Given the significant increase in taxes we are all dealing with, such an incentive might cause homeowners to consider offering their property to local workers and families, even though the short-term rents are significantly higher per diem than a yearly lease. I’d urge the town to consider starting such a program. We need our locals. They make Killington the warm, inclusive, vibrant, and authentic ski town it has always been known for. Without them, our town would be no more inviting than a giant multi-acre hotel.
Barb and Gary Palmer, Killington
