Fort Collins to review affordable housing for former Elks Lodge

FORT COLLINS — The Downtown Development Authority is considering putting affordable housing at the former Elks Lodge at 140 E. Oak St.

The DDA Board of Directors is looking at two options for the downtown parcel, both of which include affordable housing for those earning between 30 and 80 percent or 50 and 80 percent of the area median income, reports the Coloradoan. That’s about $59,600 for one or $85,100 for a family of four in Fort Collins.

The smaller project is a four-story building with surface parking which would include 49 apartments and cost about $14.9 million. The larger project is a five-story building with 66 units and underground parking, which would cost about $23 million. Both would include commercial and retail space.

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The DDA board is looking at partnering with Housing Catalyst, formerly Fort Collins Housing Authority, to bring the project to life. The DDA said it’s possible it can get close to getting all of the funding for the larger project. It will be reviewing its five-year investment plan in March.