Media Contact: Chynna Cowart
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Recently, the Department of Local Affairs (DOLA), through the Division of Housing's State Housing Board, voted on, approved, and awarded $6,650,000 for 126 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. Kechter Townhomes ($2.7M - Adding 54 units)
Elevation Community Land Trust (ECLT) has been awarded $2,700,000 for the acquisition of Kechter Townhomes, a 54 unit permanently affordable for-sale development in Fort Collins, CO.
The project is a partnership between the City of Fort Collins, TWG Development, Housing Catalyst, and Elevation Community Land Trust. The units, upon completion, will be offered to households who make less than 70% of the AMI.
2. Heartside Hill Apartments ($3.95M - Adding 72 housing units)
CARE Housing was awarded $3,950,000 for the Heartside Hill Apartments (HHA), which will provide 72 apartments for households at 30-60% AMI, with an average AMI of 54.6%.
The unit mix is 6 one-bedroom units, 30 two-bedroom units, 30 three-bedroom units, and 6 four-bedroom units. With a mix of units ranging from 1-4 bedrooms, this property will serve individuals with disabilities, single adults, seniors, and families.
CARE will partner with Housing Catalyst to provide 16 federal project-based vouchers (PBV) to help deepen the affordability for residents with (5) 30% AMI units, (8) 40% AMI units, and (3) 50% AMI units.
View complete information on Housing Board grant approvals.