13th Avenue Apartments – Aurora, CO.
Solvera applied for and received approval for Private Activity Bond Cap, 4% Low Income Housing Tax Credits, and Colorado State Housing Tax Credits for new construction of its 177 unit property, 13th Avenue Apartments. Located at 13th Avenue and Peoria Street in Aurora, CO., this property will provide one, two and three bedroom apartments to persons and families earning no more than $47,940 per year for a family of four. Located within 2 blocks of the Fitzsimons Redevelopment Complex, 13th Avenue will begin construction in February 2016.
Crisman Apartments – Longmont, CO.
Solvera, in partnership with Longmont Housing Authority, applied for and received approval for Private Activity Bond Cap, 4% Low Income Housing Tax Credits and Community Development Block Grant – Disaster Recovery (CDBG-DR) funds for new construction of its 114 unit property, Crisman Apartments. Located southwest of the intersection of Ute Hiway and Main Street in Longmont, CO., Crisman Apartments will provide one and two bedroom apartments to persons and families earning no more than $59,640 per year for a family of four. Construction is planned to begin in May 2016.
Willow Street Residences – Arapahoe County, CO.
Solvera has been chosen to provide Consulting Services to Community Housing Development Association (CHDA) in its rehabilitation and refinance of the Willow Street Residences at 1351 South Willow Street in unincorporated Arapahoe County, CO. After exiting the Low Income Housing Tax Credit Investor in 2014, CHDA will use a combination of Private Activity Bond Cap and 4% Low Income Housing Tax Credits to finance the moderate rehabilitation of the 80 unit Willow Street property.
Solvera Retained by Brothers Redevelopment:
Solvera has been retained by Brothers Redevelopment, Inc. as Development Consultant on a proposed 30-unit senior property in Erie, CO. Brothers, whose mission is ‘to provide safe, affordable, accessible housing and housing services for the low-income, elderly and disabled of Colorado’ currently owns and operates over 580 affordable units in 13 Colorado properties.