Housing complex for homeless youth to be built in Colorado Springs krdo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from krdo.com Daily Mail and Mail on Sunday newspapers.
El Paso County commissioners have approved tax breaks for a 137-unit affordable housing apartment complex in the cityâs Southeast.
Colorado Springs Urban Renewal Authority will oversee the project, to be built by the Kansas-based Cohen-Esrey Development Group.
Construction on the four-story, $35 million development at the intersection of South Academy Boulevard and Verde Drive â called the Lofts at 1609 â is slated to begin in late October or mid-November. Itâs expected to be complete in May 2023.
The complex will include one-, two- and three-bedroom apartments, with rents ranging from $459 to $1,485 a month â 17-25 percent lower than market rate.Â
Theyâll be available to tenants earning up to $57,000 annually.
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Plans to construct a new $35 million, 137-unit affordable housing apartment complex at 1609 Zebulon Drive in southeast Colorado Springs are moving forward. The new four-story apartment complex will serve residents earning between $17,000 and $57,000 a year and will include 137 one-, two- and three-bedroom apartments that are just under 1,000 square feet on average, developer Cohen-Esrey said.
Courtesy of Cohen-Esrey Development Group
Courtesy of Cohen-Esrey Development Group