Community invited to groundbreaking for The Reserves | SteamboatToday.com

Community invited to groundbreaking for The Reserves

The public is invited to a groundbreaking ceremony at 11 a.m. today for The Reserves, a 48-unit affordable apartment complex to be built at 2000 Elk River Road.

The Board of Directors of the Yampa Valley Housing Authority invites the community to join in a celebration for the groundbreaking of The Reserves at Steamboat at 11 a.m. May 11.

City and county dignitaries, the development team and the YVHA Board will also be on hand to officially kick off the construction of this 48-unit affordable housing project at 2000 Elk River Road.

The Reserves at Steamboat is a partnership between Overland Property Group and the Yampa Valley Housing Authority that will create 48 new affordable apartments for the Steamboat community on land YVHA has owned for several years. The development was made possible, in part, thanks to $12.8 million in Low-Income Housing Tax Credits allocated by the Colorado Housing Finance Authority, a grant through the Colorado Department of Local Affairs and equity through investor Enterprise Community Investment and American Express.

Additionally the city of Steamboat Springs and Routt County are contributing money from their affordable housing funds

Construction on the two apartment buildings and clubhouse is expected to be completed in late spring 2017.