Media Contact:
Chynna Cowart | chynna.cowart@state.co.us | (303) 656-7464
The Department of Local Affairs (DOLA), through the Division of Housing's (DOH) State Housing Board, awarded $19.62 million to create or preserve 600 rental units, all aimed at making housing more affordable for Coloradans.
Affordable Rental Awards
Royal Pine Apartments (Colorado Springs, CO: $4.5M - Adding 232 rental units)
DBG Properties, LLC was awarded a Housing Development Grant (HDG) cash flow loan
of up to $4,500,000 to assist with the new construction of Royal Pine Apartments,
located in El Paso County.
The project will provide 232 affordable units for households at or below 70% AMI, including 17 units for 30% AMI households, in northern Colorado Springs. The proposed site is a vacant, previously undisturbed 7.87-acre parcel, one of the few sites in north Colorado Springs that permits multifamily housing and is large enough to fit a sizable multifamily development.
King’s Crossing (Aurora, CO: $7.12M - Adding 178 rental units)
Community Development Partners (CDP) in partnership with Restoration Christian Ministries (RCM) was awarded $7,120,000.00 for the new construction of King’s Crossing Village (KCV), located in Arapahoe county.
KCV is a Community for All Ages (CFAA) campus style project in the Centretech neighborhood of Aurora serving seniors, families, and individuals with children, together with intergenerational programming and services.
901 Navajo Street (Denver, CO: $8M - Adding 190 rental units)
Mercy Housing Mountain Plains was awarded up to $5,640,000 or $60,000 per unit, in the form of a PEH - Prop 123 Grant and up to $2,360,000 or $24,583 per unit, in the form of a Housing Development Grant (HDG) Grant.
901 Navajo Street will be the first development in Colorado to provide supportive and affordable housing combined with a health clinic focused on serving American Indian/Alaska Native (AI/AN) individuals and families. This 190-unit development, with service-enriched housing, includes 94 permanent supportive housing (PSH) units and 96 affordable units, along with a Federally Qualified Health Center (FQHC) to be owned and operated by Denver Indian Health and Family Services (DIHFS). The aim is to address both the housing and health disparities within Denver’s AI/AN community.
To address the needs of an ever-changing population, the State of Colorado aims to provide a continuum of housing options for households with varying needs and Area Median Incomes (AMI), as well as for persons seeking housing in conjunction with social services.
For complete information on Housing Board grant approvals, please visit the State Housing Board website.
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