ERIE, Colo. — Construction has started on a $17 million project that aims to bring affordable housing to a town in the north Denver-metro area by building 35 deed-restricted homes.
Cheesman Street Residences in the Historic Old Town of Erie will feature two- and three-bedroom townhomes, along with single-family detached homes.
Erie has provided a two-acre lot it purchased in 2023 on Cheesman Street, along with $2.2 million to aid the project, said Alana Watkins with Voca PR. Another $1 million comes from a grant from the Colorado Department of Local Affairs.
The town has partnered with Louisville-based developer Vertikal, which will cover the remainder of the development costs, a release announcing the news said. Alpine Bank provided the loan for the project.
The partnership aims to help the town with its housing strategy, which aims to make 12% of Erie's housing supply affordable by 2035.
> Read the full story at the Denver Business Journal.
