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Lone Tree’s First Affordable Housing Project Breaks Ground

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On Tuesday May 25, Koelbel and Company, Coventry Development Corporation, the City of Lone Tree, and the Colorado Housing and Finance Authority celebrated the groundbreaking of the first affordable housing project in Lone Tree.

Rendering of RidgeGate

Koelbel & Company recently received a highly competitive CHFA financing award for the project, which will be located right at the RTD RidgeGate Station and will welcome residents in 2022.

Koelbel and Company plans to build 67 affordable apartments on the site (ranging from 30% to 80% AMI)—a project that is strongly supported by the City of Lone Tree. and will be the first of several similar projects in RidgeGate that will help achieve their 350 Affordable Housing Unit commitment on the East Side of I-25. Project amenities include a fitness center, community room, and onsite leasing.

Alliance Construction Solutions is the general contractor for the project and Bryant Flink Architecture is the architect.

Mayor of Lone Tree, Jackie Millet attended the event along with Carl Koelbel, chief operating officer of Koelbel and Company; Luke Cannon, director of commercial development, Koelbel and Company; and Keith Simon, executive vice president and director of development for Coventry Development Corporation, the master developer for RidgeGate.

“We are thrilled we have the opportunity to bring to market much needed affordable housing opportunities to residents in this high-need area of Lone Tree,” said Carl Koelbel, chief operating officer of Koelbel and Company. “RidgeGate is an ideal community for residents to enjoy tremendous parks and open space, employment opportunities and retail amenities at an affordable price.”

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4 Comments

  1. Larry J Young
    May 28, 2021 at 4:55 pm — Reply

    What is considered affordable.in Colorado Springs it’s 400+thousands of dollars.Lone Tree is a city of wealth and privilege.hard to believe anyone (including the Mayor,the developers or even the City Conucel)knows what affordable is.
    Guess a wait and see approach is best for now.being a resident(and a Black Man)of Highlands Ranch for over 12 years I learned a lot about the two Cities and their residents.

  2. Nancy M Reighter
    May 28, 2021 at 9:02 pm — Reply

    That whole area was once a beautiful place where wildlife thrived. At one time, not so long ago, hundreds of pronghorn inhabited the base of the foothills. I’ll NEVER comprehend the elation developers and that ilk exude when destroying the nature and wildlife sacrificed for their greed.

  3. May 29, 2021 at 8:27 am — Reply

    I just love these Developers say we gonna allocate so many units for low income in which never happens tell the city officials to open a branch office for HUD. or HOPWA. and a allocate vouchers for. Family and single people that have been displaced from our lovely pandemic our president allocated money housing until 2030. Our State always wants to implement to help person that are Homeless and Emergency Vouchers for people with special needs I am Homeless and struggle everyday to get assistance or trying to get stuff done in which in alot of you can’t reach the state offices housing offices because nobody. is talking to people in person its all online and a pain in the butt and Coloradans feel the same way and give up because of the hoopala you got to get anything done but the bottom line is these programs are woring in Nee York and. Philly. With the the Emergency Housing Vouchers HOPWA and fair housing act. they are trying to fix there Homeless problem and. Displaced families that ate facing homelessness and eviction so chronic homelessness doesn’t happen again to them so why do we continue to build properties and say there low income which alot of times are not affordable lone tree needs to open a satelite site or office train the personal about the new voucher progams and help the people who really need help nee properties ate more expensive than. getting landlords and. a list of available units that could be used for government or public housing and private owners and landlords they get incentives for letting people with rent there properties besides the money from HUD. It all looks good on paper and the media. But implement. the voucher program now and really do some good for the that meed the help riow be the person or team that steps outside the box and does this you will receive more praise media kudos than talking about a building that not gonna be done on time to really help the people right now with special needs and is way more expensive than using properties that are already there or nearby and see if you can create another part of community that is caring compassionate in helping other people and. families in need but it might never happen until that one person stands up and says we can do this here in Lone Tree and not afraid or worried about everybody else’s negitive onions. Have Beautiful Weekend

  4. FARASHA
    June 8, 2021 at 8:17 pm — Reply

    I’m a native of Colorado , Im always for growth but positive growth. The influx of people moving here has drowned out the natural beauty Denver, Colorado and surrounding areas once had . Now it’s covered with homeless and high rentals . The high rentals in California did nothing for thatvstate IOUs poverty. Hickenlooper threw the native of Colorado under the bus along with the other Colorado politicians.

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