Senior housing breaking ground in Boulder

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Highlights:

  • Affordable senior housing breaking ground in Boulder.
  • First community of its kind in Boulder in 30 years.
  • Rents for qualified tenants start around $500.
  • Building will be extremely energy-efficient.
Affordable senior housing community breaking ground in Boulder.

Affordable senior housing community breaking ground in Boulder.

Boulder Housing Partners will break ground on a sustainable, affordable apartment community for seniors on Wednesday, the first new fully affordable senior housing built in Boulder in three decades, according to the nonprofit group.

The 59-unit community, also will greatly increase the supply of affordable senior housing in Boulder, according to BHP.

“There’s an enormous demand for new apartments in this price range,” which starts at about $500 per month, said Betsey Martens, Executive Director of BHP. “Most of the affordable senior housing inventory in Boulder is 30 to 40 years old, and most don’t serve seniors earning 50 to 60 percent of area median income.”

She said an affordable senior community hasn’t been constructed in Boulder since 1983.

The $8 million, three-story, community in South Boulder is being built at 4990 Moorhead Ave. near Table Mesa Drive and US-36. It will offer one and two-bedroom apartments with full kitchens, private balconies or patios, a washer and dryer and carport spaces.

All apartments will be extremely energy-efficient, built to the standards of Energy Star and Enterprise Green Communities. The architect is the Abo Group of Denver and Deneuve Construction of Boulder is the general contractor.

A 100kW solar array will be installed on the roofs and carports. Residents will even be able to track the building’s energy usage and solar generation with an in-unit monitoring system. Each resident will also receive a free local and regional bus pass to take advantage of nearby transit stops and the Table Mesa Park N Ride.  The community will also have a catering kitchen, internet café, lounges, raised bed gardens and a play area for visiting children. It is adjacent to regional public trails and will have bicycle racks for residents.

Residents will be offered a variety of senior-oriented enrichment programs and wellness activities on site, such as those offered by Brain Fitness Clinics, Active Minds and Medcally-Based Fitness.

Prospective tenants must be at least 62 years old and income-qualify, as eligibility is based on earning 30 to 60 percent of area median income. Monthly rents for the one bedroom units start at $505 and two bedroom units start at $606, not including utilities. Eligible incomes range from approximately $15,000 per year to $43,000 per year.

Currently, there are only 12 two-bedroom affordable senior apartments in Boulder, according to BHP. BHP’s new community will have 20 two-bedroom units and 39 one-bedroom units. It is projected to be ready for residents in the first quarter of 2014.

Interested in buying a home in Boulder? Please visit COhomefinder.com.

Have a story idea or real estate tip? Contact John Rebchook at  JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

 

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

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