Project Updates

The Ridge - South Colorado Springs

The Ridge is a funded and approved new-construction project at the intersection of Hwy 115 and S. Academy, in the Broadmoor Bluffs neighborhood.  A 60-unit property of 1-, 2-, and 3-bedroom units, The Ridge has undergone a tremendous amount of scrutiny, and has been approved/supported at every level of review.  The most recent was a 35-point opinion by District Court, with all 35 points in favor of The Ridge.

With Commonwealth Development as primary developer, and Greccio Housing as minority owner and property manager. Funding is provided through Low Income Housing Tax Credits, local and State investment, and traditional construction and long-term financing.

July 2019- Update

Construction began in February and is on schedule for a February, 2020 opening!  Watch our website later this summer for an initial Interest List and Waitlist; applications will be accepted in late fall.

January 2019- Update

Pre-construction activity is underway on-site, and construction begins! Information letters have gone out to the owners of adjacent condos. The estimated time of construction is 12-14 months.
Rocky Mountain Apartments - Southeast Colorado Springs

Rocky Mountain is a unique affordable housing development, as it represents the first “Acquisition and Conversion” of an existing office building into 18 NEW affordable housing units.  Located to the east of Dunkin Donuts on Bijou and Circle, the 1- and 2-bedroom unit development will offer 2 ADA units, central location, enclosed courtyard with picnic area, playground, a community garden, and a “Grab-N-Go” library. Funding partners will include the City of Colorado Springs, El Paso County Housing Authority, State of Colorado, and Ent Credit Union. Apartments should be available for move-in near the end of 2019. The Rocky Mountain Apartments are located in a qualified Enterprise Zone, which means that support of this project through donations are eligible for an additional 25% State Tax CREDIT!  Investing in this development is a great way to support affordable housing in our community!

July 2019 - Updates

Due to continued development of the building plan, we expect construction to begin in late summer or early fall.  Greccio and our funding partners have remained committed to bringing this new affordable housing property online in mid-2020.

January 2019 - Updates

Demo and all asbestos remediation on the interior of the building is complete. Final build-out plans are being finalized, and construction should begin around the beginning of April. Estimated time of construction: 8-9 months.
The Atrium at Austin Bluffs - Northeast Colorado Springs

Serving the rapidly growing senior population, The Atrium at Austin Bluffs is a project in development.  The City of Colorado Springs authorized transfer of the property to Greccio Housing on the condition that it be developed as a senior affordable housing complex.  Concepts for this infill development project continue as we match community needs with available funding opportunities.

Plans include service to one of our most vulnerable populations, on-site and service-enriched offerings from Greccio’s Resident Resource team as well as community nonprofit partners, an abundance of community gathering and social activities, low-impact planning for traffic, a roof-top community atrium and garden space, and a small dog-run area for future residents’ furry friends!

July 2019 - Updates

 We are excited to announce a funding award from the Atrium at Austin Bluffs by the Colorado Housing and Finance Authority in late May!  Since then, work has begun on detailed design and engineering of the building, its amenities, and other predevelopment activity.  This phase may take from 6 to 18 months, in preparation to begin construction.  Engagement with community partners and interested parties is also underway, to ensure the Atrium is an attractive, engaging, and livable home to its future residents and the neighborhood.

January 2019 - Updates

Pre-development activity includes site planning, working with future Resident Resource partners, and securing funding for construction.
Woodbine Apartments ADA Upgrades

Originally acquired in 2012, Woodbine is undergoing an accessibility renovation and improvement project. With much of the housing inventory in our city constructed in the 70s and 80s, conversion to greater accessibility is a priority today. Thank you to the City of Colorado Springs for their investment of HOME funds into this important upgrade and expanded accessible offering for a population with limited options for housing.

July 2019-Update

As of May, 2019, accessibility and ADA upgrades to the entrance and 4 ground-level apartments is now complete!  Many thanks to our construction partners, TN Parker Construction and Tucco Construction; and our primary funding source, the City of Colorado Springs.  Special thanks for ongoing advice and consultation by the Independence Center!

March 2019-Update

The first of four apartment conversions to provide greater accessibility was completed on March 26, 2019. This unit now has a more open layout, allowing greater movement and ADA/ANSI amenities in the bathroom and kitchen areas.

January 2019-Update

Already completed is a new ground-floor entryway, which replaced a cumbersome 5-step elevated entry deck, which then led to more stairs to the garden level or second floor. The new entryway offers ground-floor access for those with mobility impairments improved ease of visiting. The next phase of improvements, beginning in March/April 2019, will be a conversion of four ground-level apartments to ADA/ANSI standards – open bathrooms, walk/roll-in showers, modified doorways, lowered cabinets/countertops and more!

 

The Arcadia Apartments -North-Central Colorado Springs

One of our smaller apartment communities, the 6-unit Arcadia Apartments were originally acquired in December of 2016.  An already-sound building, desired improvements have included a new boiler system for heat, paving of the gravel parking lot, painting the exterior, and conversion of 1 of the units to ADA accessibility.  Installation of a new and high-efficiency boiler system have just been completed, and funding is being pursued to support the other projects.  These Improvements will make the Arcadia Apartments a stable, safe, and affordable place to live for another generation. Watch for future notices for timing of completion of these upgrades!

July 2019 - Updates

The bidding process for each of the primary improvement areas is in its final stages, and we expect work to begin this summer!

March 2019 - Updates

 Our CDBG loan application has been approved by the city and will soon be finalized. This will allow us to begin our architectural design work and several exterior improvements as soon as April of 2019.

January 2019 - Updates

Our city application was recently updated to answer questions from community development and in final coordination. In the meantime, we are gathering estimates/proposals for the desired work (parking lot paving, painting, ADA upgrades to 2 apartments, landscaping and roofing). We’re seeking to start work in mid-spring.

 

UPCOMING OPPORTUNITIES & FUTURE PROJECTS
  • In partnership with Partners in Housing and the Rocky Mountain Community Land Trust, 6 affordable rental units are being converted to affordable home ownership opportunities for residents making 50% and 80% of Area Median Income, brining the American Dream of home ownership to 6 families that may not have thought it to be within reach!
  • Also in partnership with PIH and RMCLT, additional land has been acquired for an exciting and large affordable housing development in the southeast part of Colorado Springs.  More to come!
  • Greccio is in the initial evaluation phase of ‘facelifts’ and refreshing of some of our older properties throughout Colorado Springs, some constructed nearly 130 years ago – true gems in our historic community, and worthy of preservation.

Greccio budgets and regularly contributes to reserve accounts to ensure ongoing care and replacement of its properties, to include major mechanical systems, deductibles for storm damages, and routine upkeep.  Grants and loans are not uncommon for unique upgrades, improvements consistent with community priorities, or other major improvements for which funding becomes available.
Affordable housing has an insignificant or positive effect on property values in high-valued neighborhoods and improves values in lower-valued neighborhoods. And, affordable housing has no negative impact on the price or frequency of sales of neighboring homes. 
Affordable housing does not overburden schools and infrastructure. Studies show that single-family homes have two to three times the number of school-aged children of those residing in apartments.

Questions or comments on our projects?

lpatke@greccio.org