FORT COLLINS, Colo. — A parcel of land the City of Fort Collins sold will soon be turned into affordable housing.
Last month, the city sold the five-acre parcel located at 3620 Kechter Road as part of its “affordable housing land bank.”
Indiana-based TWG purchased the land as part of a development partnership, which includes Elevation Community Land Trust from Denver and Housing Catalyst from Fort Collins.
TWG will build 54 townhomes on the land and sell it to ECLT, who will maintain ownership of the land but sell the townhomes to qualified low wage-earning households.
“The location of this property between two schools and two parks makes it ideal for this townhome community. Generations of families will benefit from the housing built there,” said Sue Beck-Ferkiss, who manages the Land Bank Program for the City.
The city’s Land Bank Program buys and holds land for the future development of affordable housing. The program ensures the land will be available in the future to increase the stock of affordable housing.
The new project isn’t the first effort at affordable housing in Fort Collins. A new 79-unit apartment complex is going up in Old Town as well.
A groundbreaking celebration for the Kechter project will be held in February 2022.