Village at Westerly Creek

Featured Project: New Construction

Village at Westerly Creek

Westerly2

Affordable Advisors acted as development advisor to the Aurora Housing Authority on this mutli-phase public housing replacement project. Phase One was ready for occupancy in August 2012 and all the relocated public housing residents were moved in within three weeks. Phase Two is scheduled to begin in late 2013.

Village at Westerly Creek, Phase One, was financed with a $8.0m LIHTC investment from Enterprise Community Investments, construction financing and $1.0m mortgage loan from Bank of the West, and a total of $1.5m federal grant funding from the City of Aurora, Aurora Housing Corporation, Arapahoe County, and Colorado Division of Housing. Aurora Housing Authority, in cooperation with HUD Public Housing Disposition, invested an additional $2.4m and  provided Section 8 rental assistance to all households.