The Bella will offer studio, one-bedroom, and two-bedroom apartments priced for households earning between 30% and 80% of the Area Median Income. Located near the upcoming Scout development, the project is designed to provide long-term stability for residents in one of the state's most expensive mountain markets. Construction is already underway following a demolition phase that began August 25, with project completion expected by November 2027.
NHP Foundation Secures Financing for 52-Unit Frisco Affordable Housing
In a move to combat the extreme cost of living in Summit County, The NHP Foundation has finalized financing for The Bella, a 52-unit affordable housing development in Frisco. This project marks the organization's first utilization of Low-Income Housing Tax Credits in Colorado, targeting the local workforce struggling with rising regional rents.
The development relies on a complex public-private partnership. The Town of Frisco provided $4.9 million in soft financing, property tax abatements, and land banking grants through Colorado’s Proposition 123. Additional capital was sourced through federal and state tax credits, alongside construction and permanent financing from U.S. Bank and Cedar Rapids Bank & Trust. According to Frisco Mayor Rick Ihnken, the project is a necessary intervention to ensure the local workforce can afford to remain in the community where they work. The NHP Foundation, a nonprofit established in 1989, continues to expand its footprint in high-cost resort areas, aiming to bridge the gap between local wages and market-rate housing costs.
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