Blog
SMHO Groundbreaking of Overlook at Powers Park
On the morning of August 2, we officially broke ground on our newest development, Overlook at Powers Park. We were joined by our partners and supporters to celebrate this momentous occasion that took place next to the site of the future property on the corner of W. Powers & S. Elati Street. The new property combines quality and character to offer new, affordable housing for older adults (age 62 and over).
The 37,000 sq. ft. building will sit on 1.2 acres of land on the corner of Powers and Elati Street. It will feature 51, one-bedroom apartment homes that are 510 sq. ft. each. For residents to qualify, they must be 62 years or older with an income level at 30% – 60% of the Area Median Income (AMI).
There will be outdoor and indoor leisure space, easy access to Powers Park, local shopping and services, and a high-quality, energy-efficient design that will be comfortable and affordable for years to come.
This initiative serves a growing need in Littleton to decrease the housing gap that currently stands in the thousands, further supports at-risk community members, and provides newly constructed affordable housing opportunities.
“It’s been a long wait, but the time has finally arrived where we can move forward with this initiative and provide more affordable living solutions to the City of Littleton,” said Corey. “There is a significant need for housing in our city, especially for our most vulnerable community members. It is our responsibility to help fill this need and this is an excellent opportunity.”
It has been almost 30 years since our organization developed a new property — that was Libby Bortz Assisted Living, which opened in downtown Littleton in 1994. Much has changed in housing since then. Prices and demand are at an all-time high, while inventory remains relatively low. As the city’s housing authority, it is our responsibility to understand and address the housing needs and help fill the affordability gap to keep the community diverse and vibrant.
This new development also meets the top 3 core housing needs identified by the Housing Study that was conducted by BBC Research & Consulting for the City of Littleton between 2017-2018. They are:
- Additional Affordable Rentals – specifically for residents earning less than $25,000/year. The city has a shortage of 1,094 units priced below $625 per month.
- Starter Homes & Family Homes Priced Near or Below $300,000 – roughly affordable to a household earning at least $73,000 per year.
- Housing Options Attractive to Seniors – primarily low-maintenance housing options with few or new stairs.
These recommendations form a baseline for a housing strategy that should be considered as part of the City’s ongoing Comprehensive Planning process.
The groundbreaking event was well attended and we were thrilled to have in attendance the mayor, city staff, CHFA, Foothills Regional Housing, Libby Bortz, and many more. We would like to extend a special thank you to Metro West Housing Solutions for partnering with us on the event, and to Shopworks Architecture for the architectural designs, and Calcon Constructors for the construction of the new property.
We would also like to thank the following partners for their support: City of Littleton, Arapahoe County, City of Centennial, Colorado Department of Local Affairs, Division of Housing, Colorado Housing & Finance Authority, SCI Engineering, ANB Bank, RBC Capital Markets, Holland & Hart, LLP, SB Clark Companies, and MC Design Studio.
This is just the beginning. The building should be done in 2023 (barring any unforeseen circumstances). Please stay tuned for more updates and information about our new property, the progress of construction, and when and how applications will be accepted for residency.
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