Boulder Housing Partners opens ‘affordable’ Palo Park

BOULDER — Boulder Housing Partners has opened its newest affordable residential community, Palo Park, in Boulder.

BHP is the  housing authority for the city of Boulder.

The 3.2-acre community at 4525 Palo Parkway includes 35 one-, two- and three-bedroom apartments and nine for-sale townhomes in nine buildings.

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Jeremy Durham, executive director of BHP, said Palo Park provides much-needed homes for people who work in Boulder. He said there is a waiting list of more than 275 interested tenants.     

According to a BHP statement, monthly rents for the apartments are affordable to residents earning 30 percent to 60 percent of area median income, or a household income of $26,520 to $53,040 for a family of three.

According to the Community Foundation of Boulder County, many workers in the education, health-care, retail, arts, recreation and hospitality sectors can qualify.

Apartment homes are energy-efficient with energy costs offset by an 89 kilowatt solar system. The development meets or exceeds Boulder and Enterprise Green Communities requirements.

Palo Park has a new playground, community gardens, covered bicycle parking and connections to nearby trails and open space. The community center offers a variety of programs and workshops. BHP is providing 5-year Neighborhood EcoPasses for all residents and is funding improvements to a nearby transit stop.

Financing for the $13 million apartment development came from FirstBank, Colorado Housing and Finance Authority, Colorado Division of Housing, Boulder County and the city of Boulder.

The development team included Denueve Construction, Studio Architecture, Outside LA (landscape design), WSP (sustainability consultation) and Scott, Cox & Associates (civil engineering).

Flatirons Habitat for Humanity will break ground on nine additional for-sale townhomes this summer. The three-bedroom homes will be priced for household incomes between 60 and 80 percent of area median income, with an average sales price of approximately $155,000.