Stanford Court plan for senior affordable housing delayed as developers rethink approach – Boulder Daily Camera

The review process for a proposed senior affordable housing project in south Boulder has been delayed, as developers consider a new arrangement with a slowed-down timeline.At 3485 Stanford Court, on the 5-acre site of Mt. Calvary Lutheran Church, Boulder Housing Partners and the local senior housing community Frasier have plans to build 45 one- and two-bedroom apartments — 100 percent of which would qualify as permanently affordable.

The project was set to go before the Boulder Planning Board for a public hearing and concept review on Thursday, but the applicants pulled out in order to reconsider a key aspect of the proposed deal.

What’s being rethought now is a detail in the plan that calls for Frasier to acquire the property from Mt. Calvary and have Boulder Housing Partners develop it. They would then lease space on-site back to the church for $1 per year for up to 15 years.

Source: Plan for south Boulder senior affordable housing delayed as developers rethink approach – Boulder Daily Camera

Boulder clears way for affordable housing at 185-unit Tantra Lake Apartments – Boulder Daily Camera

The Boulder City Council on Tuesday cleared the way for the sale of the 185-unit Tantra Lake Apartments complex, which will now be dedicated for low- and middle-income housing.Boulder Housing Partners, the city’s housing authority, has a deal in place to buy the complex but needed the City Council’s help to facilitate the sale. That’s because the property was illegally subdivided in 2004 — a fact unearthed during the sale process, and requiring council action to resolve. …

Former City Councilman and current neighborhood activist Steve Pomerance pressed city officials as to why the ordinance needed to be hurried, and Boulder Housing Partners Executive Director Betsey Martens responded, “The bank is taking a very conservative approach … (and) insists on a closing in April, which the seller can’t accommodate. Hence the single reading to get a closing in March. …

Source: Boulder clears way for affordable housing at 185-unit Tantra Lake Apartments – Boulder Daily Camera