Manors ready to proceed with $4M in upgrades
The Manors low-income senior housing apartments in downtown Glenwood Springs are finally on track to see $4 million worth of much-needed renovations over the next few months.
However, some of that work will require that tenants who have limited mobility be relocated for a period of time while elevators in the two, six-story Manors I and II buildings on Blake and Bennett avenues are under repair.
Denver-based Steele Properties, the development arm of the Monroe Group, which manages the apartments, was recently awarded tax credit financing and bonding through the Colorado Housing Finance Authority to do the renovations, said Jennifer Cloud, acquisitions manager for Steele.
An attempt was made last year to obtain the credits without success. But the long-awaited project is now scheduled to begin by late August, Cloud said.
The renovations will include a variety of upgrades for each apartment unit, including new doors, flooring, kitchen cabinets, energy efficient appliances, bathroom fixtures, a new paint job and security/call system upgrades.
The buildings will also see repairs to the parking areas, a new fire sprinkler system, electrical upgrades, new lighting fixtures, new air-conditioning units and elevator retrofits.
Tenants can remain in their apartments for most of the work, although they may want to find someplace to be during the day when construction is going on, Cloud said.
However, the elevators will be off line for a period of time in both buildings, meaning tenants will either have to use the stairs or arrange through their HUD Section 8 rental assistance to be temporarily relocated. Those with mobility concerns in particular may want to consider that option, Cloud said.
“Our tenants at this property in particular do have a lot of mobility issues, and we are aware of that,” Cloud said.
During the repair work, HUD will arrange to pay for a hotel room and provide a stipend for food and other necessities. Tenants can also arrange to stay with a friend or family during that time and also receive the stipend, she explained.
“We know this will be tough for them,” she said. “But in the end they will see a lot of improvements, and this is a good investment in the property that will extend its affordability for many years.”
The CHFA financing also ensures that the property will continue to operate as low-income senior housing for at least the next 20 years, Cloud explained.
The Manors were built in 1978 to provide 78 one-bedroom units under the Section 8 housing program. A small renovation was done in 1988, and repairs have been made over the years. But the property is now in need of a large-scale renovation, according to a news release issued by Steele and the Monroe Group.
Steele obtained a 4 percent Low Income Housing Tax Credit and tax exempt bond financing from the CHFA. The Garfield County Housing Authority also transferred $2.5 million of its federal tax exempt bond cap funds back to CHFA in support of the local project.
The Monroe Group will continue to manage the property throughout renovation and after it is completed, while Steele Properties will be responsible for hiring a general contractor and overseeing the work, Cloud said.
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