A Commerce City affordable housing project is expected to be completed in just over a year.
South Platte Crossing Apartments will offer 60 housing units with 1, 2 and 3 bedroom plans. And the complex will feature high-end amenities, Eric Nesbitt , owner of Nesbitt Development, LLC , said.
“It’s not going to look like your typical affordable housing development project,” Nesbitt said. “It will look like a new market rate apartment building for citizens to enjoy.”
Construction has already begun on the apartment complex, located at 72nd Ave. and Colorado Boulevard in Commerce City.
It will house residents earning 30-80% of the area median income.
The project is a joint effort between Nesbitt Development, Brinshore Development and Urban Land Conservancy (ULC).
“They (ULC) will own the land for 99 years, and they’re granting us the ground lease conveying a ground lease to keep the property affordable,” Nesbitt said.
Commerce City is example of increasingly unaffordable housing costs in Colorado, according to real estate agent Crystalle Guss.