Gardner Capital Development to Develop Affordable Housing Community in Aurora

AURORA, Colo., May 24, 2016 /PRNewswire/ -- Gardner Capital Development has been awarded a reservation of State of Colorado Low Income Housing Tax Credits from the Colorado Housing and Finance Authority to develop Alameda View Apartments, a $30 million affordable workforce housing project consisting of 116 new energy- efficient one- two- and three-bedroom apartments for families. The site is located at the corner of East Alameda Parkway and Alameda Drive in the Centretech Neighborhood of Aurora and is adjacent to the historic High Line Canal Trail and DeLaney Community Farm.

Construction of the units is anticipated to begin in the first quarter of 2017, with completion expected 12 months after construction begins. All units will be leased to residents earning a mix of 30, 50 and 60 percent of area median income. Sprocket Design Build will serve as the project architect and Pinkard Construction, the general contractor. The City of Aurora HOME funds and the State Division of Housing will provide additional financing.

When completed, the 3.7 acre development will offer residents some unique amenities, including a resource center where DeLaney Farm educators can offer a variety of community presentations, agricultural demonstrations, cooking classes, and education programs on urban gardening.  Residents will also have access to the historic High Line Canal Trail, and will be about a half a mile from RTD's new light-rail station being built this year. 

"We consider it our mission to build sustainable communities and provide economic opportunities through the creation of high quality housing for working families near transit, jobs and community amenities," said Michael Gardner, Principal at Gardner Capital. "We feel this development's proximity to the DeLaney Farm, the new light-rail line and nearby retail is conducive to working families and we're excited to be a part of this effort in Aurora."

About Gardner Capital
Gardner Capital is an affordable housing and renewable energy tax credit development, syndication, and investment company, with primary regional offices located in St. Louis, Dallas, San Francisco, Atlanta and Springfield, Missouri.  Since 1992, Gardner Capital has invested more than a billion dollars of equity in affordable housing alone.  Renewable energy development and investment has been the more recent addition to the Gardner Capital operating portfolio, bringing hundreds of megawatts of solar projects online across the United States. The principals, Mark Gardner and Michael Gardner, continue to expand the company's national footprint in affordable housing and renewable energy with multiple offices across the United States. Visit www.gardnercapital.com for more information. 

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SOURCE Gardner Capital

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