AHA Secures Innovative Financing
for Residences at First Avenue
The Aurora Housing Authority has entered into a new financing
structure and a new limited partnership with WNC & Associates (equity partner), USBank (lender), and the Aurora Housing Corporation for the benefit of Residences at First Avenue. This is an exciting public-private 
partnership that will
allow for distinctive renovations and upgrades to the property.
Residences at First Avenue is a 181-unit complex that has been owned and operated by the Aurora Housing Authority since 1984. The new partnership and financing structure will allow for a $4.1 million renovation.
Included in the renovations are new appliances, carpeting, blinds, furnaces, water heaters, exterior stairways, roofs and windows. Additionally, there will be 14 two-bedroom units that will be enlarged to make eleven 3-bedroom units and three 4-bedroom units. The exteriors will all be rejuvenated with new paint colors, a new laundry room will be created, and a computer lab for residents will be installed in the main office. The renovation is expected to take a year to complete.
For more information, contact Elizabeth Gundlach Neufeld. 720.251.2075