Trailbreak Partners, a Denver-based commercial real estate investment and development firm, has completed the sale of Lightner Creek Apartments, a 35-unit multifamily community located along U.S. Highway 160 West in Durango. The property was acquired by Durango School District 9-R for $10 million with plans to convert the apartments into affordable housing for teachers and staff. The purchase represents one of the largest single acquisitions of workforce housing by a Colorado school district to date.
Across Colorado, nearly half of teachers spend more than 40% of their income on housing, and 58% have expressed interest in district-provided housing options. Educators in rural and mountain communities face the most acute challenges, with many paying close to half their salaries in rent as major employers continue to compete for limited single-family inventory.
Before approaching Trailbreak, Durango 9-R explored purchasing multiple single-family homes at a much higher cost.
“Our staff—from homeroom teachers to bus drivers—have faced long commutes or even weighed leaving Durango altogether,” said Chris Coleman, chief operations officer at Durango School District 9-R. “Dedicated, attainable housing is the gap we need to fill so they can live, work and build their lives here. We were glad to work with Trailbreak Partners to offer a home base for our community’s hardworking educators and keep them connected to the families they support.”
Trailbreak first acquired the property in 2021, recognizing the opportunity in Durango’s high-barrier market where essential local workers face limited rental options. By repositioning the community, the firm created a turnkey solution that met both the district’s long-term needs and investor goals.
“Mountain markets like Durango can come with real challenges, from limited supply to high construction costs, and essential workers struggling to find housing options,” said Doug Elenowitz, co-founder and principal at Trailbreak Partners. “We’re boots on the ground in these communities. We understand those dynamics and market fundamentals firsthand. This transaction gave us the chance to turn our market insight and a high-impact investment strategy into a mission-aligned opportunity for working families. This is what we mean when we say our goal is to ‘do well and do good’.”
Located minutes from downtown Durango, the Twin Buttes Trailhead, and nearby Durango 9-R schools, Lightner Creek Apartments features a mix of studios, one- and two-bedroom homes with attached garages and rentable storage. The community combines efficient design with direct access to work and play in one of Colorado’s most supply-constrained housing markets.
The transaction continues Trailbreak’s track record of success in real estate investment across Colorado, building a portfolio of multifamily communities that create long-term value. Trailbreak Partners has completed or is underway on nearly $1 billion in real estate projects across Colorado with Lightner Creek adding to the firm’s growing platform of multifamily investments that capture hidden value and strengthen local communities. Other recent milestones include the refinancing of Ridian Apartments in Denver’s Highlands neighborhood and Kaia Residences in Golden Triangle going vertical.
