Rifle Apartments Development Project

Affordable Housing

Rifle Apartments

The Story

Rifle Apartments: Bringing Critical Low-Income Multifamily Affordable Housing to Rural Garfield County

The Rifle Apartments project is a transformative new construction development that marks a major milestone for the city of Rifle, CO. As the first family-oriented Low-Income Housing Tax Credit (LIHTC) project built in Rifle in over 20 years, this 60-unit, 100% affordable multifamily building will provide critical housing for families with incomes ranging from 30% Area Median Income (AMI)  to 80% AMI. Offering a mix of one-, two-, and three-bedroom units, the project will help support the growing demand for affordable housing, especially in communities impacted by the elevated economies of nearby resort towns.

Designated as an energy community, Rifle is an area impacted by the closure or decommissioning of coal plants. The project will serve as a lifeline for families who have been affected by the rising housing costs in the area. With less than a dozen LIHTC projects throughout Garfield County, this development is not only meeting a crucial housing need but is also an example of how affordable housing can thrive in rural areas.

“We’re building out the largest undeveloped piece of land in downtown Rifle’s central business district, bringing one hundred people to the area without the burden of high housing costs,” shares Javonni Butler of Evergreen Real Estate Group, one of the primary development partners for Rifle Apartments.

The capital for Rifle Apartments is made possible through a combination of funding sources, including a $5 million grant awarded to CCEF from Colorado’s Division of Housing (DOH) through the Affordable Housing Investment Fund (AHIF). CCEF identified this project as an excellent opportunity to deploy DOH AHIF funds, making it a priority in their portfolio due to its potential for transformational affordable housing. By providing critical gap financing, CCEF is helping to ensure the project’s success.

“CCEF coming in truly did help a lot. It was the last piece of the puzzle and it’s really cool that it all worked out,” says Javonni Butler.

This project follows CCEF’s previous collaboration with Evergreen Redevelopment LLC on the Globeville neighborhood redevelopment project in Denver. The company has proven experience with the state LIHTC program and manages over 14,000 housing projects across the country. Impact Development Fund has also played a critical role by providing pre-development funds for Rifle Apartments.

Rifle Apartments will have a significant environmental impact, with buildings designed to be all-electric and photovoltaic- (PV) ready, targeting an energy performance 15% better than local International Energy Conservation Code (IECC) requirements. Each unit will feature Energy Star appliances, LED lighting, and low-flow plumbing fixtures, ensuring energy efficiency and cost savings for residents. Additionally, the property will incorporate water-wise landscaping to conserve resources, further enhancing its sustainable design.

“Hopefully, over time, financing partners like [CCEF] will be that missing link in some of these rural towns. It’s all about getting those soft funds that are more flexible like [CCEF] was for Rifle Apartments,” explains Butler.

The new housing units will be close to the soon-to-be-expanded Park-N-Ride lot, making it easier for residents to access public transportation, reducing reliance on cars and improving accessibility to employment centers throughout the surrounding area.

The project is set to be completed by fall 2025, with pre-leasing expected to begin in summer 2025. Interest in this type of development is high, with over 650 people already on the waiting list for Garfield County Housing Authority, underscoring the urgent need for affordable housing in the area.

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Image Source: Rendering from EJ Architecture PLLC