Brinkman Construction Breaks Ground on Colorado Springs Townhome-Style Apartment Community
Brinkman Construction celebrated the start of construction on their latest Colorado Springs project last week, a 12-building townhome-style apartment community. Springs at Foothill Farms, owned, developed and operated by Continental Properties, will include 264 two-story loft-style units. The 354,000 SF luxury community offers amenities such as a resort-style swimming pool, community clubhouse and a state-of-the-art fitness center.
Located at 1203 Affirmed View, Springs at Foothill Farms is the second apartment community developed by Continental Properties in this market and sixth in Colorado. The first community, Springs at Allison Valley, is within a mile of the new complex and was developed in 2016.
The project was designed by Phillips Partnership and is in line with Continental Properties’ Springs brand of communities. The Wisconsin-based developer specializes in apartment homes, retail and hospitality products across the United States from Arizona to South Carolina and has been in business for more than 40 years. This will be their fifth property in Colorado and second in the Colorado Springs market.
“We continue to see Colorado as a great market for our Springs brand and our growth trajectory,” said Ryan Folger, Vice President of Design & Construction for Continental Properties at the groundbreaking ceremony. “We are excited to see the Springs at Foothill Farms off to a great start and look forward to pre-leasing the units as soon as next summer.”
The construction of Springs at Foothills Farms began in September 2019 and will complete in the summer of 2021. For pre-leasing information, visit https://www.springsapartments.com/apartments/co/colorado-springs/springs-at-foothill-farms/.
Brinkman Construction also completed a four-story, 166,000 SF affordable senior community, Traditions, in Colorado Springs last December. The complex includes 180 units consisting of studio, one- and two-bedrooms. Community amenities onsite include a community garden, dog park, fire pit, theater, craft room and library. The apartments serve seniors age 55 and older who earn less than 60 percent of the area median income adjusted for household size.
Construction Completed on Traditions at Colorado Springs
With a shortfall of affordable housing upwards of 20,000 units, it’s no surprise that Washington-based developer Inland Group chose Colorado Springs as the location for their newest affordable senior living community, Traditions at Colorado Springs.
Brinkman Construction completed the four-story, 166,000 SF community. The complex includes 180 units consisting of studio, one- and two-bedrooms. Community amenities onsite include a community garden, dog park, fire pit, theater, craft room and library.
Apartment homes are being rented to seniors age 55 and older who earn less than 60 percent of the area median income adjusted for household size. In addition, eighteen of the units will be targeted at individuals whose income is less than half of the average median income.
The project utilized Low Income Housing Tax Credits which is a program through the federal government that provides dollar-for-dollar tax credits for investments in affordable housing. This program accounts for approximately 90% of all affordable rental housing in the U.S.
This marks the third project that Inland and Brinkman Construction have worked on together. Copper Stone in Lafayette will be completed next month and Affinity Fort Collins opened in 2017.