Peoria Crossing, Aurora Housing Authority’s newest affordable housing development, opened its doors to the first of many residents on Friday, Oct. 4. Located at 30th Avenue and Peoria Street in Aurora, Peoria Crossing added 82-units of affordable housing to the Morris Heights neighborhood.
The transit-oriented development aims to connect people to places and is within walking distance to RTD’s A Line at Peoria Station, the R Line at Fitzsimons Station, and bus lines. Employment sectors including Anschutz Medical Campus and Denver International Airport are easily accessible. Proximity to neighborhood schools, libraries, and recreation areas were a compelling draw in planning this family development.
The project provides integrated housing serving households earning between 30% and 60% of the area median income. Ten units are set aside for Veterans Affairs Supportive Housing (VASH) program participants who will receive case management from both VA and AHA staff. Proximity to the new VA hospital provides easy access for Veteran residents.
“Aurora has experienced extraordinary growth and higher rents,” said Craig A. Maraschky, Executive Director at AHA. “We are excited to add housing that is affordable and in close proximity to the newly expanded light rail in north Aurora. The completion of Peoria Crossing could not have come at a better time.”
The $24 million development is an example of a public-private partnership funded with federal and state Low-Income Housing Tax Credits, City of Aurora HOME funds, and State of Colorado Homeless Solutions Program funds.
Developer: Aurora Housing Authority
Architect: Ratio Architects, Inc. (formerly Humphries Poli Architects)
General Contractor: Palace Construction
Funding: Regions Affordable Housing and FirstBank
State Tax Credit Award: $4.6 million
4 % Federal Tax Credit Award: $6.9 million
Unit Count: 82
Unit Breakout: 14 One-Bedroom; 47 Two-Bedroom; 21 Three-Bedroom
Restriction Breakout: 9 units at 30% AMI; 15 units at 40% AMI; 58 units at 60% AMI
Press Release from The Housing Authority of the City of Aurora.
Article Published on Mile High CRE.