Willoughby Corner, the Boulder County Housing Authority’s (BCHA’s) upcoming new neighborhood of permanently affordable homes in east Lafayette, continues to advance toward construction starting early next year, with its first phase of construction targeting a February groundbreaking.
Willoughby Corner, the Boulder County Housing Authority’s (BCHA’s) upcoming new neighborhood of permanently affordable homes in east Lafayette, continues to advance toward construction starting early next year, with its first phase of construction targeting a February groundbreaking.
Pinkard Construction, an affordable housing general contractor celebrating 60 years in Colorado, was awarded the project in 2022 and is working closely with Norris Design and HB&A Architects.
“Pinkard is excited to be a part of BCHA’s mission to provide housing relief to the families, individuals, single parents, older adults, and people living with disabilities in the area,” said Tony Burke, President of Pinkard Construction. “It’s no secret that rising housing prices have made renting and homeownership unattainable for many and Willoughby Corner is a lifeline for many.”
In October, BCHA received approval from the City of Lafayette for Willoughby Corner’s Planned Unit Development application, which sets the framework and rules for proceeding through the multiple phases of the site plan, including construction. In November, Willoughby Corner received a crucial second award of 4 percent Low-Income Housing Tax Credits from the Colorado Housing Finance Authority that will help cover the costs of the development. On January 11, the Lafayette Planning Commission will consider BCHA’s next major step, the development Site Plan, which focuses on architecture and site-specific elements for each proposed lot in the Willoughby Corner neighborhood.
“This is an exciting time in the life of Willoughby Corner,” said BCHA Senior Housing Developer Molly Chiang. “Now is the moment when it really begins to come to life in terms of what it will look like and how it will be built on the site. We are thrilled to be able to work so closely with city staff and Lafayette community members to make this important step forward for an area where affordable housing is so needed.”
Lafayette's median home listing price is now approaching $600,000, while rentals are averaging over $1,900 per month, unattainable for many community members, especially those in lower- and middle-income brackets. Across Boulder County, more than 21,000 households are spending over half their income on housing costs.
Willoughby Corner will serve households earning 60 percent or less of the Area Median Income (AMI) with below-market-rate rental homes and for-sale options for households earning up to 120 percent AMI. For a three-person household, these incomes equate to maximums of $67,000 for rental housing and $135,000 per year for for-sale housing, respectively. BCHA’s affordable homes save residents hundreds of dollars per month in rent and utilities, ensuring income is available for other important needs and making it easier to save money, including for future home purchases. Willoughby Corner will cater to families, individuals, single parents, older adults, people living with disabilities, and more. It will also support Lafayette’s workforce and the businesses that employ them. In addition to the 400 affordable homes built in multiple phases, Willoughby Corner buildings are Net Zero Energy Ready. They will feature solar photovoltaics, geothermal heating and cooling, and electric charging stations, a network of community gardens, pedestrian and bike trails, and access to transit.
With Site Plan approvals, construction on Willoughby Corner’s 55-and-over homes could begin as early as February 2023, with move-ins possible by spring 2024. BCHA could begin taking applications for these homes beginning in fall 2023. BCHA will provide updates at www.WilloughbyCorner.org.
