Boulder’s Planning Board last week reviewed a proposed 60-unit permanently affordable housing development for older adults on Arapahoe Ave., with no members supporting a historic landmarking that could threaten the project’s feasibility.
The concept plan, submitted by Presbyterian Manor and developer Element Properties, calls for demolishing four nearly 100-year-old Craftsman bungalows to make way for a new three-story building adjacent to the nonprofit’s existing 11-story tower at 1050 Arapahoe Ave. All rental units would be restricted to residents 62 and older earning at or below 60% of the area median income. Construction is unlikely to begin before 2028.
The project is navigating an unresolved historic preservation dispute that could threaten its financing. One of the four homes on the site, a bungalow at 990 Arapahoe Ave., remains under consideration for landmark designation after the Landmarks Board voted in February to initiate the process…