A 50-unit affordable housing project catering to homeless veterans is being planned for the Cimarron Hills area, the Pikes Peak United Way announced.
Construction on the three-story apartment complex, called Freedom Springs, is slated to begin in spring 2018 at 850 Western Drive, north of Peterson Air Force Base. It is expected to open in spring 2019.
Freedom Springs aims to address a dire shortage of affordable housing in El Paso County, which has left homeless advocates struggling to help people off the streets.
"We're excited that this will address a need for those who fought for us - they certainly deserve it," said Annie Snead, spokeswoman for the United Way, which is spearheading the project.
The $11.7 million project is being financed through low-income housing tax credits approved by the Colorado Housing and Finance Authority. Additional financing will come from the Colorado Department of Housing, El Paso County and the Colorado Department of Local Affairs.
It marks the second planned affordable housing complex geared specifically toward people experiencing homelessness in the Pikes Peak region.
Springs Rescue Mission plans to break ground this year on a 65-unit apartment complex at its burgeoning campus near Las Vegas and Tejon streets, south of downtown Colorado Springs. That $14 million project, called Greenway Flats, also was financed using low-income housing tax credits awarded from the Colorado Housing and Finance Authority.
Contact Jakob Rodgers: 476-1654