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With the aim to provide Coloradans with more options for affordable housing throughout the state, the Department of Local Affairs (DOLA), through the Division of Housing's State Housing Board, voted on, approved, and distributed more than 24 million dollars in funding in January.
In order to meet the challenges of a constantly shifting population, the State of Colorado aims to provide a continuum of housing alternatives for households with diverse requirements and Area Median Incomes (AMI), as well as for individuals looking for housing accompanied by supportive services.
Affordable Housing in Development
1.UAACOG Single Family Rehab - Various Addresses ($894K)
The Upper Arkansas Area Council of Governments (UAACOG) Home Rehabilitation Program focuses its efforts on preserving the supply of homes for households with low to moderate incomes.
Both renovating conventional homes and rebuilding badly damaged housing are effective ways to maintain high-quality, affordable housing. The 30 households covered by this two-year contract will receive help with home concerns such as: roof and gutter replacement, external doors, exterior paint, tubs and showers, windows, water heaters, ceilings, failing septic systems, plumbing, etc.
2. The Railyard ($600K)
The 12 condominiums are being built as a part of Leadville's modular homeownership development. The Leadville Urban Renewal Authority (URA) has provided a 0.59 acre lot on which the residences are planned. Four one-bedroom/bathroom, four two-bedroom/bathroom, and four three-bedroom/bathroom modular units, all priced for homeownership sales at 100% AMI, will be available at The Railyard.
3. Legacy Senior Residences ($1.8M)
In southeast Arvada, there will be a 72-unit apartment complex called Legacy Senior Residences for seniors. 38 one-bedroom units and 34 two-bedroom units make up the complex, which will house eight households at 30% AMI, four households at 50%, and 60 households at 60% AMI.
The City of Arvada Housing Authority will provide Project-Based Vouchers to assist the eight 30% AMI units, which are intended for seniors leaving homelessness. These eight people will get customized support services from the city's Homeless Navigation Program in an effort to promote long-term housing stability.
4. Jewell Apartments ($3.96M)
81 affordable rental units will make up the new construction, with affordability ranging from 30% to 80% AMI. Families earning 40% AMI or less will be eligible for 16 units, including 9 units at 30% AMI. At 50% AMI, 15 units will be available, and at 60% AMI, 38 units. The income averaging strategy is being used by Community Housing Development Association Inc. (CHDA) with twelve units at 80% AMI.
5. St. Stephen (Unita) Senior Housing ($3.25M)
A $3,250,000 award for the Uinta Senior Apartments, a 50-unit senior LIHTC project in Denver's Central Park district, has been approved.
Seniors, 62 and older, who earn between 30% and 60% AMI will be served by the project. There will be five 2-bedroom apartments and 45 1-bedroom units in the building, with sizes ranging from 638 SF to 821 SF. The AMI mix will consist of 12 units at 40% AMI, 15 units at 60% AMI, 18 units at 50% AMI, and 5 units at 30% AMI. The average affordability of the Project is 48.6% AMI.
6. St. Francis Center West ($4.9M)
The St. Francis Center has received $4,900,000 in funding for the new construction of the St. Francis Center West (SFC West), a 59-unit Supportive Housing community for elderly tenants experiencing homelessness located in the Barnum neighborhood of Denver, Colorado.
The project will also benefit from a new 20-year Housing Assistance Program contract with project-based vouchers provided by the Colorado Division of Housing.
7. SOL ($5.16M)
The Housing Authority of the City and County of Denver has been awarded $5.16M in funding for the new construction of SOL, a 169-unit apartment building with 132 affordable units, located in the redeveloped Sun Valley Neighborhood.
SOL is part two of Phase 3 in the Denver Housing Authority's (DHA’s) Sun Valley Neighborhood.
8. 15 Sable Apartments ($3.85M)
15 Sable Apartments (15 Sable) is located just north of the City Center neighborhood in Aurora and will be made up of 154 affordable rental units with affordability ranging from 30% to 70% of the Area Median Income (AMI).
Twelve units will be available to families earning 30% AMI. 106 units will be offered at 60% AMI. Overall, the average affordability is at 60.0%
For complete information on Housing Board grant approvals, please visit cdola.colorado.gov/state-housing-board.