The Colorado Housing and Finance Authority has awarded federal and state low-income housing tax credits (LIHTCs) in its first allocation round of 2018. Eight developments will receive $4.48 million in 4% LIHTCs and $4.75 million in state tax credits, which will help to create or preserve 533 units of affordable housing across the state.
Developments receiving the housing tax credits include:
- Aspen Affordable Housing in Aspen: Aspen Housing Partners will create 24 units for families and individuals in the highest-cost area of the state.
- The Colburn in Denver: Gorman & Co. will transform The Colburn, originally built in 1925 and rehabbed in 1992 as an 88-unit SRO, into 92 studio apartments.
- Deanza Vista in Poncha Springs: Sleeping Indian, LLC, will rehab 30 existing units and build six new construction units.
- DMA Plaza in Fort Collins: DMA Plaza, Inc., will rehab an 11-story, 124-unit seniors housing building constructed in 1973 with much-needed upgrades to units, heating and cooling systems, common areas, and the building exterior.
- Emerson Street Apartments in Denver: Del Norte Neighborhood Development Corp. will create 20 units of housing for families and individuals in an area of Denver that has become unaffordable.
- Olin Hotel Apartments in Denver: Senior Housing Options will rehab the 111-unit Olin Hotel Apartments, which originally was built in 1917 and converted to seniors apartments in 1981. Renovations will include unit upgrades, new indoor and outdoor amenities, a new roof, and five new units.
- Red Oak Park Phase II in Boulder: Boulder Housing Partners is continuing its work on a development that has transformed a former mobile home park into affordable housing, with a second phase that will create 41 new units, outdoor play areas, community gardens, and a rooftop gathering space.
- Residences at Hoffman in Aurora: TWG Development will create an 85-unit project serving seniors, including veterans.