Boston Capital is investing in the construction of a 260-unit affordable housing development for families in Lafayette, Colo.
The firm is providing nearly $18 million in low-income housing tax credits to help developer Inland Group finance the construction of Copper Stone Apartments.
"Copper Stone Apartments represents our seventh partnership with Inland Group, and we are excited to once again team up with Darin Davidson in this investment, which will create 260 affordable homes for families," said Jack Manning, president and CEO of Boston Capital. "The apartment community is located in a competitive market and features a strong unit design and amenity package, which will attract families in need of quality affordable housing."
The two companies have partnered on affordable housing communities in California, Colorado, and Washington, comprising 1,616 affordable apartments.
Located 22 miles north of Denver and 11 miles east of Boulder, Copper Stone Apartments features 54 one-bedroom, 152 two-bedroom, and 54 three-bedroom units in 11 three-story, garden-style buildings.
Units will feature nine-foot ceilings, dishwashers, patios or balconies, and full-size washers and dryers. Community amenities will include a community room with a kitchen, a computer lounge, an exercise room, and a playground. Units will be available to families and individuals earning 60% or less of the area median income.
