Lakewood-based Pinkard Construction and the Windsor Housing Authority started construction on Jacoby Meadows Senior Apartments this week to expand affordable housing for elderly residents of the Town of Windsor.
Developed with the Loveland Housing Authority and WORKSHOP8 Architecture, and funded by the Colorado Housing and Finance Authority, Wells Fargo, the Impact Development Fund, the Rocky Mountain Community Reinvestment Corp. and the Town of Windsor, the two-phase project will initially build 62 age-restricted units for low to moderate income seniors aged 55 and older.
The second phase of the project, which is still in need of funding, will add another 61 units. The first phase, a 63,000 square foot, $17.5 million facility, is expected to be completed within 12 months.
The groundbreaking ceremony took place on Aug. 14 and included remarks from Windsor Mayor Julie Cline, as well as representatives from WHA, LHA, and CHFA.
LHA Executive Director Jeff Feneis highlighted the difficulties the project faced, saying, “This project has been particularly challenging… It’s been five years in the making, three rounds of tax credit applications with CHFA, a minor redesign, a significant redesign… and just incredible challenges putting our pro forma together over the past two years.”
After the ceremony, Pinkard President Tony Burke expressed enthusiasm for the partnership, stating, “We’re excited to partner again with our friends at Loveland Housing Authority, along with Windsor Housing Authority and WORKSHOP8. There’s a higher and higher demand for affordable housing in northern Colorado, and we’ve been creative working with our partners to figure out how to secure the funding for this project. We’re already looking forward to undertaking Phase II three to five years down the road.”