Development
The AHA is currently seeking to expand our portfolio of rental housing units. Through our non-profit affiliate the Aurora Housing Corporation, we have the ability to own real estate beyond the Aurora city limits. Our priority areas include:
- Aurora, south of 6th Avenue
- Adams County
- Arapahoe County
- Metro Denver
- Colorado
- Mountain West Region
Multi-family Rental — Acquisition/Rehab
- Strong preference for larger units (2 or more bedrooms)
- Current ownership in place for at least 10 years
- Needs significant renovation (min. $7,000 per unit)
Vacant Land
- Zoned for multi-family or is in a multi-family area for easy re-zoning
- Has utilities to the site
The AHA serves housing developers through financing and partnerships. The AHA has cooperative relationships with private developers, banks, and community service providers including Colorado Housing & Finance Authority, U.S. Bank Community Development Corporation and the City of Aurora.
We issue “Essential Function” Housing Bonds on behalf of the AHA, non-profit and for-profit affordable housing developers. These bonds are used to finance new and rehab affordable housing projects.
The AHA is eligible for property tax exemption from Colorado real estate taxes. This allows us to leverage greater debt when taxes are removed from the operating cost.
Other sources of grant funds are available to access for equity.
We can use the Federal Low Income Housing Tax Credit (LIHTC) for significant equity injection.
The AHA is always interested in pursuing joint ventures and other partnering opportunities. Interested parties can view our Partnership Criteria for more.
For information about opportunities for purchasing or developing properties contact:
Elizabeth Neufeld
720 .251 .2075egneufeld@aurorahousing.org