A new affordable housing community in Longmont, Colorado, is helping families solve two challenges at once: finding an affordable place to live and securing access to quality early childhood education.
The $38.9 million Ascent at Hover Crossing development delivers 75 income-restricted apartments alongside the Aspen Center, an on-site educational facility serving children ages 1 to 6. Together, the offerings create what the development team views as a rare family-centered housing model.
The development has been named the winner in the family category of this year’s Readers’ Choice Awards.
The early education center might be Ascent’s shining achievement, but it almost didn’t happen. Pennrose and Longmont Housing Authority, the developers behind the affordable housing community, say they faced countless challenges when attempting to get the property’s two-story, on-site educational center off the ground.
First, it was finding out that Ascent’s land was outside of an official Qualified Census Tract (QCT), making valuable tax credits much harder to come by. Then, there were problems with the county’s Child Care Assistance Program (CCAP), which froze enrollments for new students in March 2024 due to policy changes and funding issues. The freeze is still in effect to this day.
Fortunately, a little creativity helped in both arenas. To cover the funding gaps from the QCT discovery, Ascent’s developers were able to secure a grant from the Colorado Health Foundation. A unique tuition model helped to solve the enrollment hurdle.
“It was only because of our center’s sliding-scale tuition model that they were able to commit to operating the Early Childhood Education Center at Ascent,” says Katie Pung, senior development manager at the city of Longmont. “And they are doing so accepting the risk that they’ll need to continuously fundraise to support the program until the CCAP freeze is over.”
Despite all the hiccups, the Aspen Center is finally open for business and serving children.. At least 50% of enrolled families receive tuition assistance.
When coupled with Ascent’s fitness center, indoor play areas, outdoor recreational space, and 75 income-restricted units, which range from one to four bedrooms, the $38.9 million property provides what Brad Weinig, developer at Pennrose, calls “the only true family-friendly development in Longmont.”
DEVELOPERS: Pennrose and Longmont Housing Authority
ARCHITECT: Van Meter Williams Pollack
GENERAL CONTRACTOR: Deneuve Construction Services
MAJOR FUNDERS: Colorado Division of Housing; Longmont Housing Authority; city of Longmont; Colorado Housing and Finance Authority; Boulder County; Colorado Health Foundation; Longmont Community Foundation; FirstBank; RBC Community Investments