The State Housing Board Has Awarded Over $36 Million for Affordable Housing Development

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Media Contact: Chynna Cowart | 303-656-7464

Recently, the Department of Local Affairs (DOLA), through the Division of Housing's State Housing Board, voted on, approved, and awarded more than $36M for 794 additional affordable housing units across the state.

The State of Colorado seeks to offer a continuum of housing alternatives for households with various requirements and Area Median Incomes (AMI), as well as for individuals looking for housing in combination with social services, in order to meet the demands of an ever-changing population.

Affordable Housing in Development

1. Belmar Groves ($3.54M - Adding 118 units)

Metro West Housing Solutions (MWHS) requests $3,540,000 to substantially rehabilitate Belmar Groves, an affordable 118-unit family rental development in Lakewood, CO. 

The property was developed in 1972 and MWHS has owned and operated it since 2004. It consists of 10 three-story walk-up residential buildings, with one elevatored building serving the community center and laundry room. The current unit mix is 36 one-bedroom, 70 two-bedroom, and 12 three-bedroom apartments.

2. Ridgegate Senior Affordable Apartments ($3.2M - Adding 101 units)

Koelbel and Company dba Ridgegate Parkway Affordable LLC was awarded $3,200,000 to assist with new construction of Ridgegate Senior Affordable Apartments (Ridgegate).

Ridgegate will consist of 101 affordable senior housing units in a single building. The project is targeting the senior community and utilizing the income averaging approach of AMI levels between 30%-80% with the average AMI below the 60% AMI threshold.

3. The Residences on Acoma ($6.35M - Adding 128 units)

The Second Chance Center, Inc, a non-profit, was awarded $6,350,000 for the construction of the Residences on Acoma, 128 units of affordable housing for people involved with the justice system.

4. Bentley Commons ($9M+ - Adding 192 units)

Greccio Housing was awarded $9,478,397.41 for the development of 168 new units on the site, along with the renovation of the existing 24 units. 

This project will offer units at all AMI levels, including 30 units at 30% AMI, 28 of which are supported with VASH vouchers.

5. The Osborn ($2.825M - Adding 30 units)

Tri-County Housing, Inc dba Total Concept was awarded $2,825,000 to assist with the construction of The Osborn, a permanent supportive housing project located in Rocky Ford. 

There will be 30 units of permanent supportive housing with a unit mix consisting of 7 one bedroom and 2 two bedroom units at 30% AMI and 17 one bedroom and 4 two bedroom units at 60% AMI. 

6. Star Rise at North Weld Village ($3.6M+ - Adding 58 units)

High Plains Housing Development Corp (High Plains) was awarded $3,617,835 to assist with the new construction of StarRise at North Weld Village, located at 123 9th Ave. in North Greeley. 

This project will bring much needed housing and supportive services to individuals experiencing homelessness and ultimately, low-income families. The first phase of the multi-year/multi-phase development will be a permanent supportive housing (PSH) community for 58 individuals who are experiencing homelessness, earn at or below 30% of AMI and who have a disability or disabling condition. 

All 58 units will be restricted to homeless households and receive project-based vouchers (PBVs), allowing tenants to contribute 30% of their incomes for rent.

7. Jacoby Meadows ($3.75M - Adding 62 units)

Loveland Housing Authority was awarded $3,750,000 to assist with new construction of Jacoby Meadows Senior Affordable Apartments Phase I in Windsor. 

This is a rental project with 62 affordable units for seniors with AMI levels from 30% - 80%. The average affordability is 54.5%.

8. Village on Main ($2.625M - Adding 72 units)

Longmont Housing Authority (LHA) was awarded $2,625,000 in funding to renovate and refinance Village Place, to be renamed Village on Main (“Village”). 

The property serves 72 senior households in a mix of 12 studios, 36 one- and 24 two-bedroom units, including one employee unit. There are eight units capped at 30% AMI, 56 units at 50% AMI, and 7 units at 60% of AMI. 

9. Reyn Rock Plaza ($950K - Adding 33 units)

The Douglas County Housing Partnership (DCHP) requests $950,000 to assist with the acquisition and rehab of Reyn Rock Plaza (Reyn Rock). 

This is an existing rental property located in downtown Castle Rock that was built in 1980 and is family owned and operated. The property is a 100% Section 8, senior community (62+), with a Housing Assistance Program (HAP) contract that was renewed for 20 years in May of 2022. Reyn Rock has provided affordable housing for very-low-income residents for more than 40 years.

View complete information on Housing Board grant approvals.

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