Boulder Housing Partners (BHP) has purchased a 4.35-acre site at 3300 Penrose Place for redevelopment into a new 115-unit affordable apartment community.
The site, adjacent to Foothills Highway and 34th Street, was previously owned by the Geological Society of America (GSA). It includes an architecturally notable building which will be incorporated into the new community development.
“This is the kind of opportunity we especially enjoy being a part of for our community,” said Jeremy Durham, executive director of BHP. “We’ll build these 115 homes to be affordable, sustainable, and beautifully designed for residents, all while giving an existing community asset new life as the focal point of the development’s design.”
BHP plans to renovate and repurpose an existing building at the former Mount Calvary Lutheran Church site (3485 Stanford Court), along with construction of new affordable homes.
Plans for 3300 Penrose Place call for up to 115 permanently affordable apartment homes with a mix of 1, 2, and 3 bedrooms as well as community spaces. The site plan also includes a central green space between the new apartments and the former GSA building.
The 10,000 square-foot GSA building was built in 1970 in the modern Brutalist style, known for architecturally beautiful monolithic concrete structures. BHP plans to seek local landmark designation for the original part of the building, retrofit the commercial office space into affordable housing and community amenities, and build additional affordable apartment homes on the property.
BHP will lease the property from GSA for two years, while the development team works on entitlements and architectural design. Construction is projected to start in 2025.