Kestrel Housing

In 2013, Boulder County purchased the 13-acre Alkonis property. The property, now known as Kestrel, is located just northwest of Highway 42 and South Boulder Road in Louisville. As the last undeveloped parcel in the area, the site is strategically positioned to create a dynamic neighborhood center that will enliven the area and complement the historic downtown.

Kestrel will include 71 units for people 55 and older and another 129 units for families, and will serve households with incomes up to 60% of the Area Median Income. Community members displaced by the 2013 floods will receive priority consideration.

In addition to creating an inclusive, multi-generational community to help meet the region’s growing demand for affordable housing, we’ve followed 100-year thinking in its design, incorporating sustainability planning with future generations in mind. Kestrel will maintain high energy sustainability – exceeding governing sustainability measures by 50% – and will incorporate natural features, regional trail connections, green space, innovative play structures, and a state-of-the-art community building. Kestrel will have a property manager on site and, as with BCHA’s other properties, will have coordinators to link residents to other supportive resources and services.

Kestrel 360 Tour

Timeline

In February 2016, we announced the financial close of the development, bringing together funding from a range of public and private partners. This was a major step that allowed us to begin construction immediately and moves us closer to providing much-needed permanently-affordable housing in Louisville.

We are grateful for the financial and moral support we’ve received from the Boulder County Commissioners, the City of Louisville, and many other partners. We’re also inspired by the Louisville community, whose collaboration and strong support has led to a sustainable and quality design that matches the unique character of the city. Over the past several years, we’ve held close to 50 public meetings to provide opportunities for city officials and community members to provide feedback on the development – that collaboration is evident in our progress to date.

Construction, which began in February 2016, is taking place in five phases. The initial phase is expected to be completed in early-2017, with final completion slated for late-2017. BCHA will start leasing multi-family units in late-2016 and senior units in mid-2017. We will continue to provide updates on the process and expect to hold additional community meetings in the months ahead. In the meantime, we encourage you to add your name to our interest list.

From our friends at Boulder County Parks and Open Space, find out more about the American Kestrel, the skilled and graceful raptor for which this affordable housing development was named!

BCHA and our design team have conducted multiple meetings in Louisville and Lafayette to provide opportunities for the community to discuss their hopes, expectations, and concerns about the project. Focus groups have included seniors, artists, and families. There is clear demand for affordable housing, and the community’s desires for a mid-density, walkable development with art and community gardens were used as directives in our site planning and design development. BCHA will continue to host meetings as we work through the design, city entitlements, and finance of the proposed housing. Join us to learn more and ask questions. Future opportunities for community engagement will include focused meetings throughout the community, updates via email, our website (www.BoulderCountyHousing.org), and Facebook. You can also contact us by phone at 303-441-1000

Where is Kestrel located?

Kestrel is located in Louisville, northwest of the intersection of 95th Street (also known as Highway 42) and South Boulder Road. The current site address is 245 N. 96th Street, although once the development is completed, that address will change to numbers that reflect individual building and units.
Within ¼ mile of Kestrel are two grocery stores, banks, gas stations, medical offices, and multiple shops. Historic downtown Louisville, located ½ mile to the south, is the primary community gathering space and includes a library, municipal offices, cultural center, and restaurants, shopping, and a seasonal farmer’s market. A number of schools, preschool and elementary through high school, are within 1½ miles. Also in close proximity are the Louisville Recreation and Senior Center and two-full service hospitals (within three miles), and a local health clinic, offering bilingual comprehensive medical services (one mile away).

How many units does Kestrel offer and who does it serve?

Kestrel is a intergenerational neighborhood serving a variety of populations within two distinct, integrated projects: 129 townhome-style units within seventeen buildings for individuals and families of all ages, and one three-story apartment building with 71 units for residents ages 55 and older. The following table shows the unit mix:

Townhomes-Style
Residents of Mixed Ages

Apartments
Residents Ages 55 and Older

What are the rent amounts?

Rent amounts vary by bedroom size. The following chart lists the minimum gross rent amounts for Kestrel units. These numbers may change in 2018 to reflect updated rent amounts, as determined by federal agencies.

Are utilities included in the rent amount?

• Included – utilities, including heat, electricity, water, trash, recycling and composting
• Not included – communication services, including telephone, internet, and pay TV

Rent amounts seem higher than I had anticipated for affordable housing. Can you explain this?

Kestrel is primarily funded through Low-Income Housing Tax Credits which are offered to developers/Housing Authorities to construct and provide affordable housing to residents at lower than market rates, serving households with income at or below 60% of the Area Median Income (per the income chart below).

While rents at Kestrel are lower than market rate, they are not subsidized unless a resident has a Housing Choice Voucher which pays for a portion of the rent. Other properties offered by Boulder County Housing Authority may be offered at a lower price to tenants, if they use funding sources with different rules.

Although the rents seem higher than you anticipated, the following information may help out it in perspective:

• The rent amount includes utilities such as heat, electricity, water, and trash (and recycling and compost), which can add up to a savings of between $175 and $250 per month (depending on bedroom size).
• The security deposit required is low, between $200 and $300, as compared with market units. Private landlords often require first and last month’s rent and the same amount in the security deposit prior to move in.
• Kestrel allows households to keep pets for a one-time non-refundable fee of $150 that covers all pets in the household, and a refundable pet deposit in the amount of $150 per pet. Some private landlords add a monthly pet rent to their lease requirements.
• All Kestrel residents will receive an RTD EcoPass, which allows unlimited rides on bus and rail locally and regionally, including to and from the airport. With this EcoPass, residents will be automatically enrolled in the Guaranteed Ride Home Program to provide residents with a free taxi ride from work in the event of unplanned schedule changes, illness or other urgent situations.
• And while sizes and amenities may not equal that provided by Kestrel, Louisville’s average rents are $1,591 (1-bedroom), $1,811 (2-bedroom) and $2,161 (3-bedroom). These exceed Kestrel rents by more than $500 for 1- and 2-bedroom units, and almost $700 for a 3-bedroom unit.

How much money can tenants earn to be qualified for Kestrel?

All units are available for households with income at or below 60% of the Area Median Income. For 2017, the income limits are below. Based on a unit/building’s specific lease-up date, some units will have household income subject to 2018 limits, which may not be available until after the first quarter 2018.

2022 Income Limits

How are assets calculated?

• If you have assets such as checking, savings, money market accounts, IRA’s, certificates of deposit, real estate, annuities, trust accounts, term life insurance, etc., the total current value of all such assets will be added together. If the total assets are worth $5,000 or more, .06% of the entire asset value will be calculated and added to your household’s annual income.
  Example:Assets total $200,000 and annual income totals $24,000
  $200,000 multiplied by .06% = $120
  $120 would be added to the total household annual income of $24,000, so the total annual income would equal $24,120
• Note: If the actual total income earned from the assets in greater than the .06% rate, BCHA will use the actual amount instead of the .06% calculation.
• If you are selling a home, the asset is calculated by taking the value of the home and subtracting the amount owed on the home, minus the cost of selling the home. The resulting amount will be multiplied by .06%, and that amount will be added to your household’s annual income.
• If you plan to rent out a home, the asset will be calculated by taking the value of the home and subtracting the amount owed on the home. The resulting amount will be multiplied by .06% and added to your household’s annual income. In addition, the rental income will be added to your household’s annual income.

I have a Section 8 housing voucher. Can I use that at Kestrel?

Yes, Section 8 Housing Choice Vouchers are accepted at Kestrel. If you have a housing voucher, you may use it to subsidize your rent at Kestrel.

What is the amount of my security deposit?

Security deposits vary based on unit size, per below:

What amenities do the units have?

Some of the unit amenities include:

• Carpet, vinyl floor coverings and laminate wood flooring;
• An electric range;
• Energy-efficient dishwasher, refrigerator, stove;
• In-unit washer/dryer;
• Air conditioning;
• Geothermal heating and cooling systems;
• Ceiling fans;
• Programmable thermostats;
• Low/now VOC paint, carpet and cabinets;
• Coat and linen closets;
• Horizontal blinds; and
• Roof decks for many of the townhomes