The nonprofit Brothers Redevelopment, Inc. started work on a nearly $31 million development, building a 60-unit permanent supportive housing community at 1850 S. Chambers Road, in Aurora.
The development, known as Wagoner on the Creek, will serve “justice-involved” and unhoused residents in Arapahoe County. Future residents will need to earn less than 60% of the area median income. The nonprofit will have an office on site where it will provide case management, behavioral health counseling, peer navigation and employment support, among other services. It also plans to provide medical services on site.
The Denver Business Journal reports Wagoner on the Creek was aided through 10 funding sources. They include seven government agencies, two banks and a LIHTC contribution.
Wagoner on the Creek will include an outdoor amenity area with grills, shrubbery and fountains, as well as walking trails.
Calcon Constructors in the general contractor.
Northmarq has arranged $50 million in financing for Ardor on the Bluffs, a 235-unit mid-rise multifamily community in Bloomington, Minnesota. Located at 3701 American Blvd, the complex is located just minutes from MSP International Airport and the Mall of America. Northmarq’s Minneapolis Debt + Equity team, led by Dan Trebil, arranged the financing on behalf...
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City and state officials joined representatives from Catholic Charities and community leaders to cut the ribbon on the new Catholic Charities Gail P. Duke Senior Residence. The $143.4-million development will provide 141 units of affordable sustainable apartments for low-income seniors with supportive services in the Brownsville neighborhood of Brooklyn. The Gail P. Duke Senior Residence,...
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Marcus & Millichap finalized the sale of Amber Pines Apartments, a 23-unit multifamily property located at 330 Amber Ct. in Upland. The property sold for $5.9 million, or $257,717 per unit. “Amber Pines features a mix of spacious studio, one- and two-bedroom floor plans,” said Douglas McCauley, senior managing director investments. “The asset’s prime north...
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