FORT COLLINS, CO - An arm of the Fort Collins Housing Authority is preparing to sell some of its properties in order to provide more housing to low-income residents. Renters of 16 single-family detached houses owned by Fort Collins Housing Corp., a nonprofit operated by the authority, have been notified their homes are being placed on the market, said Julie Brewen, executive director of the authority.
The corporation owns 402 housing units, including 26 single-family houses scattered across the city. The houses targeted for sale carry high maintenance costs, Brewen said. Current renters will be given an option to buy their houses, she said. Those who cannot buy will be given priority for moving into apartments owned by the agency.
Some of the renters may be able to apply the housing vouchers they are receiving toward home ownership or renting in the private sector, she said. "We are trying to meet our mission of providing affordable housing," she said. "Helping people become first-time homeowners is part of that mission."
Revenue from the sales will be used to help rehabilitate the Stanford Apartments, an 82-unit building at 2613 Stanford Road. The rehabilitation project is expected to take 18 months and cost $2.9 million, Brewen said.
The project is receiving funding from several sources, including the Colorado Housing Finance Authority and the city of Fort Collins HOME program and Funding Partners for Housing Solutions.
Some residents affected by the sales, who requested they not be identified, said they are unhappy to be losing their homes with such little notice. They also are not pleased with the idea of moving into apartments after becoming used to living in houses.
Brewen said she understands the residents' concerns. The authority will work with the families as they transition to other housing, she said.
Dennis Anderson, who has rented his home on West Mulberry Street from the housing authority for more than two years, said he plans to move out of Fort Collins. The news his house was for sale came the same day he was applying for food stamps because he had lost his job, Anderson said. "I understand what they are doing and why," he said. "They want to make some money and provide housing to more people. "That's fine. But in the meantime, they've put the lives of 16 families in disarray."
The remaining single-family houses in the corporation's portfolio are on properties that could lend themselves to multifamily units, Brewen said. "We think there may be some redevelopment opportunities with higher densities," she said.
Source: coloradoan.com