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Council approves transfer and $6M rehab to preserve 132 affordable senior units at Rose Garden Apartments
Summary
The Westminster Housing Authority approved a purchase-and-sale and rehabilitation agreement to preserve affordability in perpetuity for 132 senior units at Rose Garden Apartments, require roughly $6 million in rehabilitation, and provide $3 million to the Housing Authority at closing.
The Westminster Housing Authority and City Council on June 24 approved a purchase-and-sale and rehabilitation-and-operations agreement aimed at preserving and rehabilitating the Rose Garden Apartments (8190 13th Street), a 132-unit affordable senior complex.
Under the approved agreements, all 132 units will be placed under recorded affordability restrictions in perpetuity. Affordability will be split as 49% restricted to households at or below 60% of area median income and 51% restricted to households at or below 80% AMI. The proposed transaction includes roughly $6 million in property rehabilitation and modernization to address deferred maintenance and living-condition improvements. At closing the developer/buyer will remit a $3 million payment to the Westminster Housing Authority fund and agree to participate in 5% of future net refinance and sale proceeds.
Staff described the site’s long-term value as a preserved senior-housing resource and framed the transaction as a way to secure private investment for rehabilitation while maintaining affordability protections after existing tax-credit restrictions expire in December 2026. The council adopted the necessary housing-authority resolution and authorized staff and counsel to make non-substantive changes for closing (roll call 5–0).
What’s next: staff and housing authority counsel will finalize closing documents and oversee the rehabilitation schedule and oversight provisions in the operations agreement.
