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Affordable apartments welcomes new residents

The new complex houses 50 families
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Academy Place Apartments — an affordable housing development — opened its doors in late April, welcoming low-income families to their new home. 

On April 26 Academy Place Apartments officially opened its doors. The new apartment complex contains 50 one-bedroom, two-bedroom and three-bedroom apartments with varying levels of rental subsidies, amenities and outdoor space for activities. 

Susan Hunt, senior property manager of the Academy Place Apartments, said their development is the first affordable low-income family apartments in Broomfield in the last 22 years. 

Affordable apartment complexes are very important to the community because they are “providing housing options for those who don’t meet the median area income level,” Hunt said. They are “giving people who make less income the chance to have a nice place to live,” Hunt added.

The apartments feature balconies and patios, heating and cooling systems, energy-efficient appliances and in-unit washer and dryers. The apartments also are close to the Broomfield Library, several schools, bus stops and multiple grocery stores. 

Academy Place Apartments also provide many amenities and services in their community, including a fitness center, outdoor picnic areas, community gardens and playgrounds. Hunt said providing these services are important to the community. 

“Some residents do not have the luxury of driving to a park with their kiddos and/or a fitness center,” and “growing their own food is always a great idea,” Hunt added. 

The total cost of development was $17.3 million. The pricing of rent and eligibility requirements are based on household size, income and other factors determined by the Colorado Housing and Finance Authority. 

All 50 units at Academy Place Apartments are currently leased and were leased very quickly over a three-month period. Hunt said they still receive a lot of inquiries about openings, and they will open a waitlist in about a month for other residents looking to find a home at Academy Place Apartments. 

 

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