New affordable housing development coming to Colorado Springs

Broadmoor Bluffs Apartments
Sketch of the Broadmoor Bluffs Apartments coming to Colorado Springs / Colorado Housing and Finance Authority

COLORADO SPRINGS, Colo. — A new housing development for low-income individuals and families in Colorado Springs is in the works thanks to a $1.1 million award in federal Low Income Housing Tax Credits (LIHTC) by the Colorado Housing and Finance Authority (CHFA).

The Broadmoor Bluffs Apartments will be a 60-unit housing community located at 4375 Broadmoor Bluffs Boulevard, on the northwest corner of Highway 115 and South Academy Boulevard.

It will offer a mix of one, two and three-bedroom flats for low-income households earning between 30 and 50 percent of the area median income. Because it’s being developed on a site that was originally planned for condominiums prior to the recession, it will utilize previously completed infrastructure including roads and utilities.

“Communities throughout Colorado are struggling to afford rent, and Colorado Springs is no exception,” said Cris White, executive director and CEO of CHFA. “CHFA is pleased to invest in Broadmoor Bluffs Apartments, which will not only offer affordable rents, but supportive services to help residents further succeed.”

The Broadmoor Bluffs will be developed through a partnership between Commonwealth Development Corporation and Greccio Housing.

Rent in Colorado Springs has been rising in recent years and officials say rental housing stock is short by 24,000 units for those earning less than $67,000 annually.

Leasing opportunities are not yet available. The project is scheduled to begin in 2017 and open in 2018.


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