River Bend Residences will be located in Idaho Springs, Colorado, 30 miles west of Denver. The city has an elevation of 7,725 ft. and is known to have some of the best whitewater rafting in the nation! This two-building community will consist of 47 apartment homes in this beautiful mountain setting.
The community is designed to support family/workforce housing and capitalizes on the unmet need for quality affordable housing in the area. River Bend Residences will offer one and two bedroom units for rent to those at 30%, 40%, and 60% of The Area Median Income (AMI). Amenities include a clubhouse/community room, fitness room, computer lab, and a picnic and BBQ area.
This is HKP’s first development in Colorado and the first LIHTC project in the Clear Creek County! The project will be funded through a construction loan with Horizon Bank, subordinate loans from Clear Creak County and Credit Suisse, a permanent loan with the Colorado Housing Finance Agency and low income tax credits.