South Metro Housing Options lays out pipeline, seeks funds to fill $1M gap on 50-unit Montview Flats

South Metro Housing Options (SMHO) presented a progress update and financing request to the Littleton City Council and staff, describing a multi-project pipeline anchored by Montview Flats, a 50-unit affordable rental development that SMHO expects to break ground after closing financing this spring.

SMHO chair Kate Peterson opened the presentation with a request for continued council partnership. "Thank you very much for having us and all your support for affordable housing in Littleton," Peterson said, noting SMHO serves more than 2,000 residents through its voucher and owned-unit programs.

The meat of the presentation outlined financing and schedule for Montview Flats and broader funding challenges. Sarah Burr, SMHO real estate development manager, said Montview Flats will include a mix of one- and two-bedroom units serving incomes from about 30% to 70% of area median income. "We will expect to close on financing sometime this spring. And as soon as we close, we will break ground," Burr said, adding SMHO expects about a 15‑month construction schedule with completion targeted in summer 2026.

SMHO described the Montview capital stack in detail. Total project cost is about $25.5 million, SMHO said, with the Low-Income Housing Tax Credit (LIHTC) equity piece estimated at roughly $11.9 million. SMHO identified a seller carry (land) line of about $2.6 million and said…