Fort Collins sells land for affordable townhomes

FORT COLLINS, Colo. — A parcel of land the Metropolis of Fort Collins bought will quickly be was reasonably priced housing.

Final month, town bought the five-acre parcel situated at 3620 Kechter Street as a part of its “reasonably priced housing land financial institution.”

Indiana-based TWG bought the land as a part of a improvement partnership, which incorporates Elevation Neighborhood Land Belief from Denver and Housing Catalyst from Fort Collins.

TWG will construct 54 townhomes on the land and promote it to ECLT, who will preserve possession of the land however promote the townhomes to certified low wage-earning households.

“The placement of this property between two colleges and two parks makes it excellent for this townhome group. Generations of households will profit from the housing constructed there,” mentioned Sue Beck-Ferkiss, who manages the Land Financial institution Program for the Metropolis.

The town’s Land Financial institution Program buys and holds land for the long run improvement of reasonably priced housing. This system ensures the land might be obtainable sooner or later to extend the inventory of reasonably priced housing.

The brand new challenge isn’t the primary effort at reasonably priced housing in Fort Collins. A brand new 79-unit residence advanced goes up in Previous City as nicely.

A groundbreaking celebration for the Kechter challenge might be held in February 2022.