Brothers Redevelopment, Inc. will celebrate the Grand Opening of Paris Family Apartments in Aurora, at 10:30 a.m. on Friday, July 12.
The completion of the $13.5 million Paris project, a model for strong local, state and federal partnerships in affordable housing, will be marked by honored guests, including: Housing and Urban Development Secretary Ben Carson, U.S. Sen. Cory Gardner and Gov. Jared Polis. Nonprofit housing agency Brothers developed Paris Family Apartments, a 39-unit affordable housing complex at 1702 Paris St., with the extensive creative and financial support of the City
of Aurora. Paris Family Apartments is Brothers’ first affordable housing development in Aurora and its first funded with competitive Low-Income Housing Tax Credits (LIHTC).
Paris Family Apartments’ two- and three-bedroom units are available to families with children who have household income at or below 60 percent of Average Median Income (AMI), and many have incomes at 30 percent AMI or below. Supportive services will be offered to residents.
Paris is made possible by federal funds from HUD that are administered by several local participating jurisdictions, including the City of Aurora, Arapahoe County and the Colorado Division of Housing. Federal funds were matched by both private and philanthropic grants that helped secure
Low-Income Housing Tax Credit funds issued through the Colorado Housing and Finance Authority, provider of a permanent loan. Wells Fargo is the equity and construction lender.
Established in 1971, Brothers Redevelopment is a nonprofit providing housing and many housing-related services to more than 5,000 low-income elderly, disabled and other households each year. Paris Family Apartments is Brothers’ 14th affordable community in the Denver Metro Area.
Rendering courtesy of Brothers Redevelopment
