Contact: Alex Potente, Housing & Development Director, 970-328-8698,email@example.com
Eagle County will officially begin the rehabilitation of the Riverview Apartments on Aug. 11 which will include new siding, insulation, parking lot, improved site security and lighting, landscaping, and some interior renovation. All tenants have been temporarily relocated and staging for construction is underway.
Riverview includes 72 units and is Eagle County's only Section 8 housing complex, with rental rates dependent on income and subsidized by the US Department of Housing and Urban Development. Planning for the rehabilitation has been underway since Riverview was awarded a tax credit allocation last summer, resulting in $3.8 million for construction costs. Additional funding for the project will come from an $8.9 million permanent loan, and grants from HUD and the Colorado Division of Housing totaling $1.5 million.“The financing of the project is advantageous to Eagle County, as no General Fund dollars will be used,” said Commissioner Jon Stavney.
“Our Housing Department did an excellent job finding outside funding and pursuing multiple grant opportunities,” said Commissioner Peter Runyon.
“In a time where every penny counts, we are extremely pleased to be able to fund this project without dipping into the General Fund,” said Commissioner Sara Fisher.
Once underway, construction is expected to continue until next spring. The architect for the project is Avon-based interaction and the general contractor is Avon-based R.A. Nelson & Associates, Inc. This renovation will create over 180 local construction jobs. For more information, contact Alex Potente.