Willoughby Corner nears multifamily stabilization; remaining one-bedroom units available

Boulder County Housing Authority staff reported Aug. 26 that Willoughby Corner is approaching the occupancy threshold needed to trigger project stabilization. Amanda Guthrie, BCHA director of housing operations, said the loan/landlord stabilization target is 120 leased units out of 129 multifamily units. As of the Aug. 26 presentation, all nine-plex buildings and MF-1 were fully leased; the remaining building, Purple Prairie, had 40 leases executed with tenants moved in and five additional units assigned with four likely to move in by the end of August. Guthrie said leasing traffic has slowed and the authority was specifically seeking applicants for six remaining one-bedroom units priced at 60% AMI (stated as $1,642 per month in the presentation); staff said they were cautiously optimistic stabilization could be achieved in September if remaining applicants sign leases and move in. Commissioners thanked staff and praised tenant turnout at the Willoughby Corner open house. No formal action was required; the presentation was an operational update.