Palace Construction Selected for Affordable Housing Development in Boulder
BOULDER — Boulder Housing Partner (BHP), the Housing Authority for the City of Boulder has selected General Contractor Palace Construction, to construct their latest affordable housing development, Red Oak Park II. Boulder-based Coburn Architecture will work with Palace Construction to expand Boulder’s existing Red Oak Park community. The multifamily residential development will produce roughly 40 affordable housing units for families and individuals in Boulder.
The Red Oak Park community was designed to be completed in two phases. The first phase, Red Oak Park I, was completed in 2011 and consists of 59 duplexes, triplexes, single-family homes and a community center. The second phase of the project, Red Oak Park II, will produce between 38-44 affordable housing units and include environmentally conscious features. This is Palace’s first new construction project with BHP.
Palace Construction has a successful track record and passion for constructing affordable housing – it starts at the very foundation of our company,” said Kari Feld, senior project manager, Palace Construction. “Our guiding principle is to ‘do the right thing’, and we believe we can do right in our communities by contributing to the growth of affordable housing in Colorado. We are committed to developing this new-build project on-time and to the required criteria so that BHP can continue its mission of providing low-cost housing to Boulder families in need.”
Palace Construction will oversee the construction of Red Oak Park II, which will encompass two vacant lots at 2637 Valmont Street and 2625 Valmont Street in Boulder. Red Oak Park II will use the Enterprise Green Communities design criteria and will be evaluated using the City of Boulder’s Green Points Program.
Palace Construction is committed to environmental excellence, and has experience developing projects with eco-friendly features, including The Fruitdale Lofts and Northfield at Stapleton, among others. Since 1966, BHP has worked to ensure that members of the Boulder community are provided with affordable, safe and beautiful communities for low and moderate-income households.
“Like much of the nation, Boulder is facing housing affordability challenges,” said Jeremy Durham, Executive Director, Boulder Housing Partners. “This project will result in new, permanently affordable housing to serve current and future Boulder county residents. We believe we have an excellent team with Palace Construction and Coburn Architecture, and look forward to engaging with neighbors and the City to expand the welcoming Red Oak Park community.”
The Red Oak Park Community is focused on providing low and moderate-income families with affordable housing in a desirable Boulder neighborhood. Phase II began preliminary work inSeptember 2017 and is expected to begin construction in February 2019.