Senior apartments developer waits for tax credits

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MetroWest Report

Seniors would pay $350 to $640 per month to live at the rent-restricted Rose Hill Senior Villas, planned for an acre of land near East 62nd Avenue and Monaco Street.

Residents who want to live in the planned 21-unit complex would be required to meet income restriction guidelines, according to Justin Francis, a representative for the developer G.A. Haan Development in Phoenix. Individuals with an annual income of a little more than $28,000 would qualify, based on federal Housing and Urban Development guidelines.

The developer could receive as much as $4.7 million in federal tax credits to build the apartment complex at 6377 E. 62nd Ave. in Commerce City, Francis said. A decision on the tax credits is expected by the end of September, after which building may start, he said.

G.A. Haan is expected to put in 10 percent of the total cost of the development; funding from the Colorado Housing and Finance Authority would make up the rest, Francis has said.

Senior housing is a big goal of the Commerce City city council, officials have said. In addition to the G.A. Haan project, city officials also have discussed  senior housing to be built at the former Mile High Greyhound Park development near 62nd Avenue and Holly Street.

Francis held a community meeting in March to get input from residents. He said he has an option to buy the land in question, as long as plans are for affordable housing.