Newly proposed affordable housing project in Rifle looks to add 30 fixed-rate rentals
A new affordable housing project is being proposed for Rifle.
Chicago-based Evergreen Real Estate Group told Rifle City Council during a workshop on Wednesday it wants to build a 50-unit housing project in downtown Rifle south of Second Street and west of Railroad Avenue.
Rental rates for 30 one-bedroom units will be offered at 50-60% of average market income. That’s between $734 and $892 per unit.
“There is a need for affordable housing in Colorado, in Garfield County and in Rifle,” Evergreen Real Estate development director David Block said. “If we see an opportunity in a less crowded community and we see an edge, we’re going to go for it.”
The project, with plans to also offer 1,500 square feet of commercial space at the ground level, is expected to cost about $20.34 million. Specs show the structure spanning four floors, with 81 proposed parking spaces — 51 of those underground.
Evergreen Real Estate project coordinator Javonni Butler said much of the proposed project will be supported by state and federal funding. Evergreen, however, requests the city support the project by allocating $600,000, as well as applying for $1 million in affordable housing funds offered by Colorado.
“We have met with the Colorado Housing Authority, and they’re totally in favor of this project,” Butler said.
Rifle City Council members entertained a notion to waive up to $400,000 in impact fees and taxes. Meanwhile, council members expressed concerns over parking, if there’s adequate infrastructure to support the project and potential crowding.
Mayor Ed Green referenced a prior project proposal in the same area, which prompted concerns from neighbors.
“Residents were concerned about the density of folks coming into the area of the community,” he said.
If City Council approves the project, the housing units will be offered at affordable rates for the next 40 years, per Colorado Housing and Finance Authority.
There is currently no timeline established for the project.
Council member Clint Hostettler expressed support for the proposal.
“I’m all for it,” he said. “I think we need to push forward and see where it goes.”
Reporter Ray K. Erku can be reached at 612-423-5273 or firstname.lastname@example.org.
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