Boulder County Housing Authority (BCHA) has selected Pinkard Construction as the general contractor for a newly proposed permanently affordable neighborhood in east Lafayette. The project, called Willoughby Corner, includes the construction of 400 rental and for-sale apartments, townhomes, and duplexes priced below the market rate for families and individuals who qualify.
In addition to the rezoning, BCHA also received nine percent Low Income Housing Tax Credits from the Colorado Housing and Finance Authority (CHFA). The award will total $13 million over the next ten years and will specifically support the creation of affordable homes for older adults.
Boyd said that Willoughby Corner will serve households earning 60 percent or less of the Area Median Income (AMI) with below-market-rate rental homes, and for-sale options for households earning up to 120 percent AMI.