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Arapahoe County Housing Authority approves partnership with April Housing to preserve Reserve at South Creek
Summary
The board voted to use special limited partnerships and approved a front‑loaded compensation option with April Housing to finance renovations and convert market‑rate units at Reserve at South Creek into permanently affordable units. The project seeks tax‑exempt financing before a 2030 deed expiry.
The Arapahoe County Housing Authority voted on Jan. 12 to participate in special limited partnerships and to approve a front‑loaded cash fee plus a residual revenue share with April Housing to preserve Reserve at South Creek, a 168‑unit community in the Dove Valley area.
April Housing project manager Joseph Backlit told the board the development includes seven three‑story residential buildings and a community building, with 99 market‑rate units and 69 currently affordable units. He said the property’s land‑use regulatory agreement that preserves affordability expires in 2030, and the authority’s action will help secure tax‑exempt financing and low‑income…
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