Very affordable apartments in downtown Fort Collins get environmentally friendly mild

Deborah K. Vick
A rendering of 140 E. Oak St. in Fort Collins that will be home to a new affordable housing complex being developed by the Downtown Development Authority in partnership with Housing Catalyst. Construction is expected to begin next year.

Very affordable housing in downtown Fort Collins has lengthy been an oxymoron as the entice of Outdated Town dwelling pushed residence prices and rents nicely over and above the normal paycheck. 

Now, Oak140, a mixed-use reasonably priced apartment project, has the inexperienced mild to shift ahead subsequent an award of about $1.7 million in point out and federal tax credits. It will be the very first multifamily development supported with small-revenue housing tax credits in downtown Fort Collins.

Housing Catalyst, the nonprofit that develops very affordable housing in Northern Colorado, was notified of the award — $962,679 in federal reduced-earnings tax credits and $740,000 in condition tax credits — this 7 days.

Development on Oak140, at the corner of Oak and Remington streets in Previous City, is anticipated to get started next Might or June and be accomplished a 12 months afterwards. 

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