FORT COLLINS, Colo. — Fort Collins has selected a developer to design and build about 60 affordable homes on property withdrawn from the city’s land bank program.
The Coloradoan reports the city has chosen Indiana-based TWG Development LLC, which specializes in affordable housing projects.
The city’s social policy and housing program manager, Sue Beck-Ferkiss, says the homes are planned to be sold to households earning less than 80% of the area median income.
She says that translates to about $54,500 for a couple and $68,100 for a family of four.
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The city has projected having about 4,330 affordable housing units by 2024, but it expects to need an additional 800 units to meet growing demand.
Beck-Ferkiss says the deal with TWG is still under negotiation.
Information from: Fort Collins Coloradoan, http://www.coloradoan.com