Developer buys land in Boulder for affordable housing
BOULDER — Denver-based Sagebrush Cos. has sold the former site of Robb’s Boulder Music to ALR Investments led by Boulder-based developer Don Altman.
ALR Investments plans to convert the one-acre site at 2691 30th St. in Boulder to 50 affordable housing units in a few years, but first, it will be used as a hub for homeless services provided by the nonprofit Bridgehouse.
Bridgehouse for the next two years will run a program at the site called Path to Home, providing case management, meals and shelter from the elements.
ALR Investments paid $4.3 million for the property, according to public records.
“We had a variety of offers and opportunities for the site, but we wanted to find a way to help support Boulder’s homeless and make a contribution to the community in some way even if short term for the homeless,” said Robert “Jake” Jacobsen, chief executive and founder of Sagebrush Cos. “Don Altman was the right buyer considering his desire to provide future affordable housing.”
The housing will be made available to people earning below 60 percent of the area median income. Sixty percent equates to $41,280 for one person, $47,160 for two people, and scaling up to $77,820 for an eight-member household, according to income guidelines published by Boulder Housing Partners, the housing authority for the city of Boulder.
BOULDER — Denver-based Sagebrush Cos. has sold the former site of Robb’s Boulder Music to ALR Investments led by Boulder-based developer Don Altman.
ALR Investments plans to convert the one-acre site at 2691 30th St. in Boulder to 50 affordable housing units in a few years, but first, it will be used as a hub for homeless services provided by the nonprofit Bridgehouse.
Bridgehouse for the next two years will run a program at the site called Path to Home, providing case management, meals and shelter from the elements.
ALR Investments paid $4.3 million for…
Start your subscription to BizWest, The Business Journal of the Boulder Valley and Northern Colorado, TODAY!
Online access PLUS print versions of all Bizwest publications
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.
Online access for one year.
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year access to daily email newsletter & breaking news alerts.
Online and print versions of all Bizwest publications PLUS premium access to BizWest Datastore for one year.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to unlimited downloads from the BizWest Datastore!
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One month subscription includes:
- 1-year premium online access to the Breaking Ground website!
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.