$17.5 million senior housing project underway in Greeley

GREELEY – A $17.5 million, 60-unit affordable apartment community for seniors age 55 and over is under construction in Greeley.

The complex, called Chinook Wind Apartments, is located at 6622 W. 10th St. and will be complete in late 2014, according to a release from U.S. Bank, which financed the project.

“Chinook Wind helps address the market’s need for senior living options and provides specialized housing that goes a long way toward alleviating challenges that many seniors face in their daily lives,” Beth Stohr, director of low-income housing tax credit investments for U.S. Bancorp Community Development Corporation, U.S. Bank’s community development subsidiary, said in a statement.

Of the 60 apartments, 12 will be wheelchair accessible. The complex will feature a library, lounge, business center, computer lab and exercise facilities.

Chinook Wind is being developed by Accessible Space Inc., a Minnesota-based company that provides low-income housing opportunities for adults with disabilities. The company has five developments in Colorado.

The project is also benefiting from Low Income Housing Tax Credits allocated by the Colorado Housing and Finance Authority. The Colorado Division of Housing, Department of Local Affairs, the city of Greeley and Greeley Urban Renewal Authority, U.S. Department of Housing and Urban Development and the Federal HOME Loan Bank of Chicago Affordable Housing Program also contributed to the financing package.

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Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR

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