It’s a bit of a double-edged sword in Denver for sellers. If you’re headed elsewhere, now is a great time to sell, but if you’re looking to relocate within the Denver metro area, depending on
Affordable Housing Project In The Works For Commerce City
According to a recent article in the Denver Post, a new 216-unit affordable apartment project broke ground in Commerce City last week. The homes at North Range Crossings will target people making 60 percent of the area median income.
Commerce City Mayor Sean Ford said the apartments will provide housing options for people working in the city such as teachers, counselors and skilled craftsman. Additionally, the project helps fill a major gap in housing, one of city council’s goals, and demonstrates the city’s continued commitment to support a growing community.
The project will get certain tax exemptions, allowing it keep rental costs at an affordable level. City council also approved incentives for builders in the form of waived fees and tax breaks.
Affordable housing has long been a problem in metro Denver, although apartment rents dropped a bit during the third quarter of 2017 as the metro area added 9,713 new apartments to the overall inventory during the first nine months of the year.
Construction on North Range Crossings won’t be complete until January 2019, but there are still great deals to be found out there. If you’re interested in checking out options in Commerce City – or anywhere else in the metro area - give Metrowest a shout. We’d love to show you around!
Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 23 years of experience in collections, foreclosure/bankruptcy, los....
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