Confluent Park Apartments, a new 48-unit affordable housing unit, has been approved by the City of Salida, proposed to be located in the east end of Salida.
This project is being overseen by Commonwealth Development. The project developer was awarded Low Income Housing Tax Credits (LIHTC) from the Colorado Housing Finance Authority (CHFA) to finance the deal.
According to city and county officials, the development aligns with Salida and Chaffee County’s affordable housing goals.
It will be the first LIHTC development in Salida in more than 20 years. The development will be certified under the Zero Energy Ready Home certification program.
These single-family homes and commercial/ retail opportunities are expected to provide some relief from the community’s acute housing workforce shortage. Commonwealth Development Vice President of Development, Daryn Murphy, confirmed that there will be 48 units; 24 one-bedroom, 21-two bedroom, and three three-bedroom units.
Currently, Commonwealth Development is working on the final design. They plan to submit building permits around the end of the year and plan to seek approval on permits around March of 2021, when they will start construction.