Media Contact: Chynna Cowart
chynna.cowart@state.co.us | 303-656-7464
The Department of Local Affairs (DOLA), through the Division of Housing's State Housing Board, voted on, approved, and awarded $17,768,700 in funding in April, providing Coloradans with 370 additional affordable housing units across the state.
The State of Colorado seeks to offer a continuum of housing options for households with various criteria and Area Median Incomes (AMI), as well as for people looking for housing combined with supportive services, in order to meet the challenges of a continually evolving population.
Affordable Housing in Development
1. Oh Pagosa ($400K - Adding 8 housing units)
Oh Pagosa, in Pagosa Springs. The proposed project is a multi-family dwelling located in downtown Pagosa Springs, Colorado. The construction of one, two story building will consist of two-two bedroom units and six-one bedroom units.
The project is in the heart of downtown Pagosa in a residential area. It will be adjacent to another affordable housing 4-plex with surrounding single family homes.
Just south (2 blocks) is a park with an ice rink, a child daycare, pickleball, and tennis courts, plus additional park advantages. North 2 blocks is the heart of downtown including a library, Natural Grocers, bank, coffee shop and other employers and commercial activities. The residents will have access to public transportation, including a bike/walking trail.
2. Residences at Durango ($5.5M - Adding 120 units)
TWG Development (TWG) has received gap funding to complete their project Residences at Durango, a hotel conversion project for construction of new apartments. The property, the former Best Western Motel, is located at 21382 US Highway 160 in Durango, Colorado. The property currently has 72 hotel rooms which are vacant with the additional land behind the motel as the location of 48 new apartments.
The two-story building renovation will feature new flooring, paint, doors, blinds, and a new roof. The appliances, plumbing features, and lighting package will all be energy efficient. There will be new kitchens installed into the 72-hotel units, with a sink, garbage disposal, oven, dishwasher, microwave, cabinetry, and countertops. The additional property behind the motel will have an additional 48 new construction units. The units will serve households between 30%-60% AMI.
3. 7001 Colorado Blvd ($3M - Adding 92 housing units)
Prospect LLC was awarded $3,000,000 for the construction of 7001 Colorado Blvd, 92-units of affordable rental housing for families in Adams County. The project is located at 7001 Colorado Blvd, Commerce City, Colorado 80022. The project will include 8 one-bedroom units, 26 two-bedroom units, 34 three-bedroom units, and 24 four-bedroom units.
The income level for all units will be 30% or 60% of the Area Median Income (AMI), with an average affordability of 58.37%.
4. Rally Homes ($3.5M - Adding 100 housing units)
Boulder Housing Partners (BHP), the Housing Authority of the City of Boulder, was awarded $4,500,000 for the construction of Rally Homes in the city of Boulder.
This 100-unit affordable development funded through an allocation of 4% and State Low Income Housing Tax Credits (LIHTC) will produce 24 studio, 62 one-bedroom, and 14 two-bedroom units. Ten of the units will serve households at 30% AMI, 5 units at 40% AMI, 22 units at 50% AMI, and 63 units at 60% AMI.
The Housing Authority will be applying their Project-Based Vouchers to the 10 units at 30% AMI to serve individuals and families experiencing or at-risk of homelessness.
5. Fruita Mews ($5.368M+ - Adding 50 housing units)
IndiBuild LLC was awarded $5,368,700 to assist with the construction of a 50 unit new construction project called Fruita Mews, located in Fruita.
The Fruita Mews will consist of 10 residential buildings, each consisting of five single-story and two-story townhome units. Each building will front a green space or street and have a covered front porch. While all the buildings have similar floor plans, the exterior architecture will vary in color and roof forms to differentiate between the townhomes.
The community will include a common house with a full kitchen, covered back porch and BBQ area overlooking a nature play/amphitheater, play structure, and community gardens. Individual, secure bike storage and community bike maintenance amenities will be available to all residents.
View complete information on Housing Board grant approvals.