Four Affordable Housing Communities Breaking Ground

April 25, 2012 - PRLog -- Communities in Denver, Brighton, Ft. Collins and Glenwood Springs
to Gain Much-Needed Housing
Denver, Colorado, April 25, 2012 – Four affordable housing communities are breaking ground after receiving aid from the Low Income Housing Tax Credit (LIHTC) program, an indirect Federal subsidy used to finance the development of affordable rental housing for low-income households.
“These building projects just don’t happen independent of the LIHTC allocation,” said Shaw Construction Vice President Diane Miller. “The low apartment vacancy rates are creating a larger gap between market rate rents and affordable rents for many senior citizens and families. These residences will quickly fill up and will be little relief to the current market demands.”
Shaw recently broke ground to build Shoshone Senior Residences, a 2-story 34 unit, 30,000+ square foot building located in Denver’s Sunnyside neighborhood. The affordable senior apartment community, developed by Newsed and The Burgwyn Company, and designed by OZ Architecture, is the next phase of the Chaffee Park Senior Residence community.
Breaking ground in May is Caribou Apartments Phase II, a 96 unit affordable community in Ft. Collins that includes three buildings and garage parking. Breaking ground by early summer 2012 is Libretto Senior Housing in Brighton, a building project that includes renovating an existing library into 28 units of independent senior living apartments. Hendricks Communities is developing both communities with design by Miles-Lambert Architecture and construction by Shaw.
Also scheduled to begin construction early summer 2012 is Glenwood Green, a 60 unit affordable housing community in Glenwood Springs that is developed by Steele Properties LLC and designed by Paul Bergner Architect.
About Shaw
Founded in 1962, Shaw Construction provides professional construction services throughout Colorado and Wyoming. Shaw is consistently ranked as one of region's leading General Contractors, Construction Management and Design/Build firms. Shaw's expertise is deeply rooted in the diversity of projects the firm has completed for its clients over the past 50 years. The Shaw team holds comprehensive experience in building and renovating facilities for affordable housing, aviation, education, entertainment and recreation, hospitality, retail, and multi-family residential.