NEW LOW INCOME APARTMENTS ARE COMING TO COLORADO SPRINGS. THE CITY’S COMMUNITY DEVELOPEMENT DIVISION TOLD CITY COUNCIL OF PLANS TO USE PRIVATE ACTIVITY BONDS FOR THE CONSTRUCTION OF SOME 232 APARTMENTS AT THE CORNER OF POWERS AND UNION IN NORTHEAST COLORADO SPRINGS. DBG PROPERTIES OF PORTLAND WILL OVERSEE CONSTRUCTION OF THE UNITS. THESE HOMES WILL RENT FOR SEVERAL HUNDRED DOLLARS LOWER THAN THE CURRENT RETAIL MARKET FOR 1, 2, AND 3 BEDROOM APARTMENTS IN THE SPRINGS. CITY COUNCIL WILL CONSIDER A RESOLUTION ON THE PROJECT IN MID JUNE. IF PASSED, ITS UNKNOWN WHEN THE CONSTRUCTION PROJECT WILL BEGIN.
