Local, State and Federal Officials Celebrate Affordable Housing Gains in Adams County

THORNTON, Colo. - June 29, 2015 - PRLog -- The Adams County Housing Authority is celebrating the completion of the purchase and renovation of a 200-unit apartment community more commonly known as the Village of Yorkshire. Local, County, State, and Federal Officials gathered together on the lawn of the clubhouse at the Village of Yorkshire Apartments to celebrate the completion of the project located on the southwest corner of 104th and York Street in Thornton, Colorado. The goal of the purchase and renovation was to preserve and extend affordable housing opportunities within the City of Thornton, as well as to work towards the goal of continuously improving the housing stock in Adams County. Village of Yorkshire Apartments is a 200-unit rental apartment community built in 1972 and comprised of ten two- and three-story walk-up buildings positioned on approximately 10 acres.

Adams County Housing Authority (ACHA) acquired Village of Yorkshire Apartments in March 2012 in an effort to expand affordable housing opportunities for low-income Adams County residents in an underserved area of south Thornton.  By purchasing Village of Yorkshire, ACHA secured an additional 15 years of new restrictions at the project, and did so at a lower income mix than was previously in place. The previous restrictions were expected to expire upon sale, and so the acquisition was motivated by the preservation and extension of existing rent restrictions as well as the addition of some new affordable housing stock for the community. Thornton Council Member Eric Montoya speaking to the gathered crowd said "This community here at Village of Yorkshire has been revitalized both in stick and brick but also in spirit due to the investments and the energy each of our partners have made to create safe and affordable housing opportunities for the residents of Thornton."

Speaking on the partnership, Adams County Housing Authority Executive Director Don May stated “Today we stand in front of an example of what can be accomplished through the use of Federal, State and Local partnerships. This project would not be possible without the cooperation and support of many stakeholders, as we join together today, we say thank you to our partners and our staff who help us achieve our mission of preserving and extending affordable housing opportunities across Adams County.”

The award of 4% low income housing tax credits (LIHTC) from the Colorado Housing and Finance Authority (CHFA) allowed ACHA to extend the property’s affordability as well as support critical property improvements to ensure longevity of the asset and a higher quality of housing for its residents.  Additionally, the project has secured CDBG funds from the City of Thornton, HOME funds from Adams County Community Development (ACCD), and HOME funds from the Colorado Division of Housing (DOH) to help fund the rehabilitation.

The rehabilitation project totals approximately $9,410,000 in actual hard costs and was recently completed in the first quarter of 2015. Both exterior and interior rehabilitation encompassing items such as: several boiler and roof replacements, upgrades for accessibility, and replacement of siding.   Unit renovations included new windows, flooring, and cabinetry.  Green upgrades included Energy Star windows and appliances, energy efficient boilers, energy efficient light fixtures, and water conserving plumbing fixtures.

ACHA currently owns and manages more than 1,500 units of affordable housing and administers over 1,460 Section 8 Housing Choice Vouchers for county residents. A staff of 82 operates in six departments, caring for approximately 17,211 residents who live in ACHA owned, developed or administered housing units or who are accessing program services.

It is the mission of ACHA to work in partnership with diverse communities, to promote economic self-sufficiency, to preserve and expand affordable housing opportunities, and to enhance the livability of neighborhoods in Adams County.