LEADVILLE, Colo. (AP) — A developer has purchased a 40-acre parcel in Leadville and plans to build 250 housing units along with commercial and retail space, the latest in a string of investments in the once-struggling mining town.
The Denver Post reported Tuesday John Lichtenegger paid $1.4 million for a former railyard on U.S. 24.
Lichtenegger says half the units will be affordable housing for local workers.
Leadville's resurgence includes the reopening of the Climax Molybdenum mine in 2012 after it was idle for 17 years. A few months ago, a Japanese investor bought a 162-unit apartment complex for $13.5 million. A Dallas developer has proposed a golf and hotel resort.
New owners have been renovating century-old Victorian homes, converting some into short-term rentals. That has made housing harder to find for residents.