5 projects in region to receive affordable-housing grants

DENVER — Five projects in Boulder, Larimer and Weld counties will receive grants to support construction or preservation of affordable-housing units that were impacted by flooding in 2013.

The Colorado Housing and Finance Authority announced Friday that the projects will receive funds through Low Income Housing Tax Credit awards, along with Community Development Block Grant-Disaster Recovery funds from the Colorado Department of Local Affairs-Division of Housing.

Projects in the Boulder Valley and Northern Colorado that received funding were:

Palo Park Community, Boulder

Developer: Boulder Housing Partners

Palo Park Community will be located along the Fourmile Canyon Creek and will be close to footpaths, biking, and hiking trails. It will offer a community center, playgrounds and community gardens. Flatirons Habitat for Humanity will support the construction of nine condominiums adjacent to the project.

35 units; state credit awarded: $589,591; federal credit:  $379,697 CDBG-DR: $1,120,055.

SPARK_west, Boulder

Developer: Element Properties

SPARK_west will be a permanent affordable-housing component in Boulder Junction, which is Boulder’s new transit village. The developer will provide free RTD public transportation “eco-passes” to the residents.

45 units; state credit: $678,982; federal credit: $582,403; CDBG-DR:  $50,000.

Village on Horsetooth, Fort Collins

Developer: Fort Collins Housing Authority

Village at Horsetooth is being developed in accordance with the affordable-housing land-bank policy of the city of Fort Collins to help meet the need for affordable housing in the city. The project will include a large community green with walking paths, a large playground and community gardens. Other common amenities will include a community club house with space for resident services, a fitness room and a kitchen.

96 units; state credit: $1,123,427; federal credit: $741,330; CDBG-DR: $2,000,000.

Peakview Trails, Greeley

Developer: Four Corners Development, LLC

Peakview will serve seniors 62 and older and is being designed to encourage an active lifestyle for the residents with walking paths, raised garden beds, a computer lab, fireplace and large community patio.  It will be located in a well-maintained neighborhood and is close to shopping, medical and other community services.

96 units; state credit: $987,140; federal credit: $635,718; CDBG-DR: $3,500,000.

Suites Supportive Housing Community, Longmont 

Developer: Longmont Housing Authority

This existing project serves high risk, special needs populations in a building that was formerly an extended-stay hotel. The existing units will be upgraded to include full kitchens, and 11 additional units will be constructed. An array of services will be provided to the residents including full-time on-site service providers.

81 units; state credit: $579,601; federal credit: $373,620; CDBG-DR: $200,000.


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