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Benefiting Longmont and the Hwy 36 Corridor a $36 million affordable housing project breaks ground in “new” “Downtown Westminster”

Posted on: Jan 5 18

by: admin

Eaton Street Apartments, a five-story mixed-use project, will break ground in downtown Westminster Tuesday evening. The 118 units will be available to residents who earn 60 percent or less of the area’s median income — approximately $50,000 annually for a family of four. This is an exciting example of new affordable housing in Longmont. Located at 8855 Eaton Street, it is expected to be completed in late 2018. This development lies just 4 miles from the heart of Longmont and will be a prime residential area in the new downtown Westminster. “This project serves a larger goal of ensuring that downtown Westminster is inclusive and meets the needs of the entire community,” said Sarah Nurmela, downtown Westminster real estate and development manager. The five-story project will have four stories of residential units over a ground floor common area, townhomes and retail along Eaton Street and 89th avenue. Eaton Street Apartments will move the city closer to its goal of having 20 percent of the housing in Westminster be affordable. “Now more than ever are we in need of more affordable and workforce housing,” said Westminster Mayor Herb Atchison. “The metro Denver area has seen unprecedented population growth and rising housing costs in the last five years, and unfortunately Westminster is not immune to this issue.” Westminster teamed up with Mile High Development, Koelbel and Company and Longs Peak Advisors to build the apartments. It will wrap the north and east sides of the recently completed parking garage in downtown. Mile High Development and Koelbel and Company are Denver-based real estate developers. Longs Peak Advisors is a Longmont-based consultant.

(Reference: Denver Business Journal, Dec 19, 2017, 3:07pm, By Kelcey McClung – Reporter, )

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