Affordable housing catering to seniors opens in Rifle
Rooms still available for rent, housing authority official said
A new 50-unit affordable housing property geared toward accommodating senior citizens opened its doors in Rifle on Tuesday.
Maxfield Heights, a $14 million joint venture spearheaded by real estate developer TWG and the Rifle Housing Authority, specifically caters to seniors aged 55 and older with an income 30-60% of the area median income.
Rifle’s area median income is $66,319, according to the U.S. Census Bureau.
TWG, based in Indianapolis, is a national real estate development company specializing in commercial, market rate, affordable and senior housing developments.
Rifle Housing Authority Executive Director and Maxfield Heights Property Manager Natalie Bowman said the new property is another step toward providing affordable housing. This holds especially true in the Western Slope, where the housing market becomes increasingly competitive.
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“Baby boomers are starting to retire,” Bowman said. “They want to sell their houses, they’re on social security, and they’re looking for a nice place to live that is in their price range.”
The units themselves come equipped with spacious floor plans, modern kitchens, a community-raised garden, outdoor dog park and other key features. In addition, the innovative designs include amenities that cater to hearing, vision and mobility challenges.
Demographics of the new tenants vary, Bowman said. Retired nurses, teachers and stay-at-home mothers have so far filled some of the units.
“We have a person right now that’s gonna move in who’s couch surfing,” Bowman said. “She’s considered homeless.”
There are, however, more one-bedroom units still available for rent. People interested in renting out a unit can call RHA at 970-625-3974 to set up an appointment.
The property is located near the Rifle Senior Center, on Ute Avenue.
The project was made possible after it was awarded tax credits from the Colorado Housing and Finance Authority.
Bowman said the project should be fully paid off by 2036.
Bowman explained that through this tax credit program offered by CHFA, they provide a dollar-for-dollar tax incentive to the banks that partner up with the housing authority in relation to providing affordable housing to low-income seniors.
“Thanks to our relationship with the Rifle Housing Authority, we are thrilled about this project that will provide a welcoming home for many seniors in the community,” TWG Acquisitions Director Ryan Kelly said in a Friday news release. “TWG has a significant track record in building high-quality apartments while also delivering the ultimate residential experience that our seniors not only enjoy but deserve.”
Reporter Ray K. Erku can be reached at 612-423-5273 or firstname.lastname@example.org.
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It may be by a technicality, but the Valley Valkyries 7s rugby club were the de facto champions of their hosted tournament this weekend.