According to Kathy Fedler, Longmont’s Housing and Community Investment Manager, several public and private sector home builders were successful in submitting and receiving HUD Community Development Block Grant Disaster Relief (CDBG-DR) funding directly from the State to build affordable housing in Longmont. When completed, these projects will add 520 affordable rental units to the community. Of this total, only 254 meet the City’s affordability standards. (To meet those standards owners may not charge more than the 50 percent AMI monthly rents listed on the CHFA rent table for the appropriate unit size.) For more information on Longmont’s affordability requirements click here: http://longmontcolorado.gov/departments/departments-e-m/housing-and-community-investment/housing-programs/affordable-housing-rent-standards.
Spring Creek Apartments – The Longmont Housing Development Corporation’s Spring Creek Apartments is located in Prairie Village on land owned by the Housing Authority. They are receiving $3.9 million from the State to build 60 units of senior housing affordable at or below 40 percent AMI (average median income). Occupancy should be completed by mid-2016.
Centennial Park Apartments – The Summit Housing Group from Missoula, Montana, will be submitting plans to build a complex at Mountain View and Pace. They are receiving $4 million in State funding. The complex will add 140 apartments for those with incomes between 40 and 60 percent AMI. Occupancy is estimated for early 2017.
Crisman Apartments – The MGL Partnership from Denver will be submitting plans to build 114 units of family housing at 23rd and Crisman (west of the Sonic on north Main). They are receiving $3.7 million from the State. The complex will provide 80 units for residents with incomes between 30 and 60 percent AMI. Occupancy is estimated for June 2017. This project is unique in that, once constructed and occupied, the project will be turn-keyed to the Longmont Housing Authority for permanent ownership and management.
Copper Peak Apartments – The Inland Group from Spokane, Washington, will be submitting plans to build 240 units of family housing north of Walmart on Highway 287. They are receiving $500,000 in State funding. The apartments will be available for residents whose incomes range between 50 and 60 percent AMI. Occupancy is estimated for June 2017.
Fedler also said that the Colorado affiliate of Habitat received $4 million to pass down to its local affiliates in the impacted counties in order to build replacement housing for families displaced by the flood. In Longmont, St. Vrain Valley Habitat has completed two homes for flood affected families and has four more underway/planned. To date, $588,516 in CDBG-DR funding has been provided to St. Vrain HFH for the homes in Longmont. Over the last 18 months, Habitat completed 21 critical repairs to houses in Longmont, Lyons and Frederick.
The City is contributing an estimated $701,000 to these projects in the form of fee waivers. Longmont has applied for a direct allocation of CDBG-DR funds from HUD but has not been successful in that effort. However, Longmont is part of the Boulder County Collaborative (BCC), and an additional $9.6 million will be available for BBC housing programs through the State’s CDBG-DR funding.
IRES MLS: Come Home to Colorado 