Plans have now been finalized for the construction of 54 two-story townhomes that will go up on the south side of Fort Collins on a 5-acre site.
That site, at 3620 Kechter Road, has been owned by the City of Fort Collins, with city officials hoping it could be developed for new affordable housing in a city where the median price of a home now stands at around $484,000.
The project is being made possible largely due to the creation in Fort Collins of a land bank program seeing the city purchasing property here and there for possible affordable housing construction.
Six years ago, the city bought a site on Horsetooth Road for similar purposes, eventually selling it to a group called the Housing Catalyst, which is based in Fort Collins, for the construction of just under 100 affordable rental units.
The new project on Kechter Road represents the latest collaboration between the Housing Catalyst and the city. The development partnership additionally includes the Denver-based Elevation Community Land Trust.
The Kechter Road site is in an upscale residential section of Fort Collins with several neighborhood amenities. In a statement, Sue Beck-Ferkiss, manager of the city’s Land Bank Program, remarked: “The location of this property between two schools and two parks makes it ideal for this townhome community.”
Added Beck-Ferkiss: “Generations of families will benefit from the housing being built there.”
By Garry Boulard
