Aurora Housing Authority Awarded Tax Credits for Affordable, Transit-Oriented Housing
The Colorado Housing and Finance Authority (CHFA) awarded the Housing Authority of the City of Aurora (AHA) $970,004 in state Low-Income Housing Tax Credits (LIHTC) to build the second phase of Peoria Crossing. The state tax credits, combined with federal low-income housing tax credits, will provide approximately 50 percent of the equity needed to construct the new, $25 million affordable housing development. With the valuable LIHTC investment secured, AHA aims to break ground fall of 2022.
The 72 additional units will complete the transit-rich, multifamily housing campus at the intersection of Peoria Street and 30th Avenue in Aurora. Phase II will buffer and preserve the residential character of the Morris Heights neighborhood through thoughtful architecture and design. AHA has a strong track record of responding to affordable housing needs in the community, and Phase II will serve households earning 30 to 60 percent of area median income.
The family-centered, transit-oriented development is a uniquely positioned gateway to opportunities in Aurora and across the metro region. It is conveniently located within a half-mile from two RTD stations: Peoria Station, served by the A line that spans downtown to DIA, and Fitzsimons Station, served by the R Line that spans from Aurora to Lone Tree. Peoria Crossing residents have access to quality schools, employment opportunities, services, and recreation.
“We are excited to see the completion of this two-phase affordable housing development,” said Craig A. Maraschky, executive director. “We at AHA know there is a severe need for affordable rental housing in the community, and this property will be very impactful for those that will call it home.”
AHA is a public housing agency that provides affordable housing to 1,620 residents and serves 2,000 households through voucher programs. Our dynamic team of professionals are passionate about making a difference in the lives of those we serve. We foster and value impact partnerships with investors, landlords, for-profit companies and non-profit agencies.