to Community Housing Partners (CHP)
November 30, 2022 - CHP was awarded State Affordable Housing Tax Credits by CHFA in November 2021 to build 93 units for our first phase of Eagle Meadow Homes. Since then we've been working with our architect, the Cuningham Group, Palace Construction and NV5 to design and submit the site plan and construction drawings to the City for approval.
Construction is anticipated to begin in March/April 2023 and be complete by June 2024. Our tax credit investor is the mission-based Enterprise Community Partners who will provide over 55% of the equity to fund this $38 million project. Our lender is Pacific West Bank who will provide the debt financing for both the construction and permanent loan. The Colorado Division of Housing, Arapahoe County and the City of Aurora will provide a combination of loans/grants totaling $5,685,000.
Like other developers, we've faced unprecedented construction cost escalation - 25% increase over one year! We've continuously adjusted to increased interest rates, rising property insurance premiums and fluctuating lumber and and material prices. We're trying to predict unexpected supply chain delays and pre- order if and when we can.
The units will serve households earning between 30-60% of the area median income (AMI). The units will be larger for families with children - half will be two-bedrooms and over 1/4 will be three-bedrooms. Eagle Meadow Homes is designed as service-enriched housing with 11 units for formerly homeless families, including families living in motels or doubled up. The units will be open during lease-up for homeless families in the Aurora@Home program, which provides rental assistance and case management.
The site is 4.8 acres and located at 14875 E. 2nd Avenue in Aurora, east of Sable Avenue and northwest of Aurora City Center. The first 93 units will be in two buildings, as part of a larger planned 141-unit development. Two light rail stations are within a mile of the site, and two shopping centers are one-half mile southwest of the site. The development will preserve the area backing up to the improved Tollgate Creek and will be pedestrian friendly.
December 6th is Colorado Gives Day
A Precious Child in Broomfield will pack 7-8 gigantic bags
of toys forCHP's Plaza and Tollgate Creek Townhomes.
Peace with Christ Lutheran Church in Aurora has tailored
gifts for 12 children at Tollgate. Over 100 children will be
surprised to unwrap these holiday presents.
However, these families are still struggling even after the pandemic with rent, utilities, internet, furniture and unpaid bills. Please consider a donation to help formerly homeless and at-risk families:
Community Housing Partners
Serving Aurora Family Members...
Community Housing Partners serves low and moderate income families, many of whom were homeless or at risk of becoming homeless, by developing affordable rental housing, and offering rapid rehousing and supportive services.
Where it all began...
The Aurora Housing Corporation (AHC) was founded in 1985 as a 501(c)3 organization so it could access Federal dollars for the ongoing operation of its properties. This ability allowed AHC to keep its rents at an affordable level. For these past 37 years, it has been able to make this vision a reality. Until 2013, AHC was a sister organization to the Aurora Housing Authority (AHA) and as such it purchased and built several developments through this partnership.
Who are we today…
In 2013, AHC changed its name to Community Housing Partners and separated from AHA. As a stand-alone agency, CHP continues as a non-profit and has the same mission of ensuring safe affordable, service-enriched housing. As the City grows as a business and healthcare center, the housing needs are changing. CHP sees the need to keep an affordability level so that the lowest income and work force (moderate income) families are able to live and work there.
Who lives with us?
CHP houses many families who are in need of affordable rents due to a myriad of life circumstance. Some are refugees from various Asian and African nations. Others have been homeless due to recent circumstances such as the death of a spouse or leaving a domestic violence situation. Some have histories of being homeless with many internal barriers. Others earn low wages that don't support the market rate rents - by December 2022 the average rent in Aurora was $1,737 and higher in Denver at $1,994.
What is the issue for lower-income families?
HUD maintains that people should not have to spend more than 30% of their earnings on housing. So what does that mean to a family of 4? If a single head of a household with 3 children earning $12.56 an hour working full time, their gross income is $26,125 a year, and they gross $2,177 monthly. Can they afford to pay fair market rent for a 2 or 3 bedroom at $1,659 to 2,226 a month? Probably not. This forces them to use the bulk of their earnings just on rent. What about food.... clothing.... school supplies.... etc?