New senior affordable housing development to begin construction on Monday | MyWindsorNow.com
Katarina Velazquez
kvelazquez@greeleytribune.com

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New senior affordable housing development to begin construction on Monday

West Greeley will soon be home to a new affordable senior housing development, which will break ground for construction Monday.

Peakview Trails Apartments is a 103,307-square-foot, four-story, $19 million apartment complex being developed by Four Corners Development LLC, in partnership with Colorado Housing and Finance Authority. It will be located at 1512 60th Ave., near 13th Street, and it will have a total of 96 units available to independent and moderately active seniors aged 55 years and older.

The project is funded with tax-exempt private activity bonds and additional funding through CHFA, according to Four Corners spokesman Ryan Hamilton. It should be completed by December 2018, and it will offer a mix of units restricted at 30 percent, 40 percent, 50 percent and 60 percent of area median income. The completion of Peakview Trails will replace housing lost due to the flood of 2013, according to a news release.

Some amenities of the apartment community include a library, internet café, exercise room, walking trails, outdoor grills and more.

The overall total development cost is estimated at $220,000 per apartment unit, Hamilton said.

Peakview Trails is the second project the Springfield-based company is tackling in Colorado, with the first senior housing apartment complex built in Pueblo. After conducting market studies for viable options of development along the Front Range, Greeley turned out to be a prime location, Hamilton said.

"As we started researching the communities of Loveland, Greeley, Boulder, Longmont and Fort Collins, Greeley was the city with highest need and demand for this type of housing," he said.

Hamilton said the location of the development also scored a high "walkability score," meaning it's in walking distance to grocery stores, medical care, parks and dining options. That's important when Four Corners is looking for sites to develop housing communities, especially since it allows for seniors to get where they need to if they cannot drive, he said.

"What we stress is the independence," Hamilton said. "We want them to be independent and feel active."

Peakview Trails is being built by Hamilton Builders LLC and it will be managed by the Greeley Housing Authority. The architect of the project is Baron Design & Associates. Four Corners is a partnership between four individuals who have 54 years of combined experience designing, developing and managing property.

Peakview Trails

A new senior housing complex called Peakview Trails will break ground on Monday at 1512 60th Ave., in Greeley.

For more information on the project, go to http://www.4cornersdevelopmentllc.com/peakview-trails.