2023 Development that Best Preserves Family Housing
Academy Place Apartments
Developer: Summit Housing Group, Inc.
Location: Broomfield, CO
The construction of Academy Place Apartments in Broomfield, Colorado, by developer Summit Housing Group will provide 50 low-income families (including four refugee families from Afghanistan) new homes. The property includes free supportive services for residents, including health and wellness services, financial literacy classes and job training workshops. The energy-efficient development also includes high-quality common area amenities and Energy Star-rated appliances. Academy Place Apartments has a close relationship with the Broomfield Afghan Refugee Task Force, providing resources and services to the refugee families as they learn to thrive and develop new roots in the community. Hunt Capital Partners Tax Credit Fund 37 provided $11.4 million in LIHTC equity for the development. The completion of Academy Place Apartments helps move Broomfield closer to reducing the 1,286-unit affordable rental gap for renters earning less than $20,000 per year.