State Housing Board Approves $950,000 for 50-Unit Affordable Complex Near CSU in Fort Collins
Colorado state housing officials have approved $950,000 in Housing Development Grant funds to CARE Communities for Windtrail Park, a 50-unit income-restricted apartment complex near Colorado State University in Fort Collins. It's among Fort Collins' few new affordable rental projects for workers and students facing steep housing costs.
The grant is part of more than $23 million in statewide investments to create over 400 housing opportunities, including 344 new rental homes and 50 preserved units, according to the Colorado Department of Local Affairs.
"This $23 million investment will build almost 400 new homes for hardworking Coloradans and help ensure workers can live in the communities we love," Governor Jared Polis said. "In Colorado, we remain laser-focused on building more housing, breaking down government barriers to new homes, lowering costs, and saving families money, and this investment does exactly that."
U.S. Department of Housing and Urban Development benchmarks reveal the pressure. One-bedroom rents rose from $615 in 2012 to $1,257 in 2022. Two-bedroom units jumped from $746 to $1,486, according to a 2019 Fort Collins rental market analysis.
Market rents now outpace those benchmarks. A 2019 survey found one-bedroom apartments leasing for around $1,380 and three-bedroom homes above $2,100.
A two-person household at 60 percent of county median income earns $61,260 annually—meaning affordable rent tops out around $1,532 monthly. Windtrail Park targets workers and students in that income bracket, a critical gap since most new Fort Collins construction serves higher earners.
"These awards affirm our mission to strengthen Colorado communities by supporting crucial work that prioritizes access to safe and affordable housing for every Coloradan," said Maulid (Mo) Miskell, DOLA Deputy Executive Director. He noted the grant targets workforce housing while building "an accessible and dynamic housing supply as Colorado continues to grow."
Windtrail Park is one of nine affordable rental communities funded in this round, spanning counties from Garfield to Alamosa to Adams.