The Colorado Housing and Finance Authority (CHFA) announced today that it will award state and federal affordable housing tax credits to Boulder Housing Partners for its innovative 30Pearl Apartments project.
CHFA awarded $838,020 in state Affordable Housing Tax Credits and $1,891,472 in 4 percent federal Low Income Housing Tax Credits for 120 new affordable apartments in the Boulder Junction neighborhood. Twenty of the units will be set aside for residents with special needs, and ten will provide Permanent Supportive Housing for formerly homeless residents. The mix of apartments will include studio as well as one to three-bedroom units. Monthly rents will be offered at 30 to 60 percent Area Median Income, or $30,690 - $61,380 for a household of three. In addition, BHP will partner with local nonprofits, Boulder Shelter for the Homeless and Ramble on Pearl, to provide case management services.
Read the full 30Pearl Tax Credit Award press release (pdf).
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