With initial funding sources secured, Housing Catalyst plans to increase public engagement efforts around two new projects – the Village on Eastbrook and a new development in the Remington/Oak Parking Lot. Community input is a critical component of the development process and Housing Catalyst works closely with neighbors and stakeholders to design projects that meet the diverse needs of our community.
The Village on Eastbrook will bring 73 new homes with affordable rents to southeast Fort Collins. Housing Catalyst envisions the project as a “Community for All Ages” incorporating senior- and family-friendly amenities. The Village on Eastbrook project was one of the first recipients of voter approved Proposition 123 Land Banking Funds.
Housing Catalyst is also in the early planning stages of an affordable housing project on the City of Fort Collins owned parking lot just south of Oak 140. Preliminary plans call for 70 to 100 homes with affordable rents as part of a mixed-use development. Housing Catalyst looks forward to partnering with the City of Fort Collins to gather community feedback as the design phase moves forward.
Larimer County and the City of Fort Collins recently assigned their 2024 Private Activity Bond capacity to Housing Catalyst to support the two projects. Larimer County awarded Housing Catalyst $6.5 million in Private Activity Bonds and the City of Fort Collins awarded an additional $10.8 million.
Private Activity Bonds are not a direct funding source. The bonding capacity will allow Housing Catalyst to issue tax exempt bonds to finance debt. Private Activity Bonds are combined with other tools like tax credits and grant funding to finance affordable housing projects.
To explore how affordable housing projects are funded, check out the interactive tool created by the Urban Institute.
In the News
“Over 140 affordable housing units coming to Fort Collins,” Coloradoan
