The Town of Windsor took a major step forward in assuring its elder residents will have an affordable place to live as Pinkard Construction and the Windsor Housing Authority (WHA) broke ground on the Jacoby Meadows Senior Apartments complex this week.
Developed in partnership with the Loveland Housing Authority (LHA) and WORKSHOP8 Architecture—with funding from the Colorado Housing and Finance Authority (CHFA), Wells Fargo, the Impact Development Fund, the Rocky Mountain Community Reinvestment Corporation, and the Town of Windsor—the two-phase project will initially create 62 age-restricted units serving low to moderate income seniors (30-80% of area median income) over the age of 55. The second phase, which is still seeking funding, will add an additional 61 units. Construction of the first 63,000 square foot, $17.5 million facility is expected to take 12 months.
Held on the morning of August 14, the groundbreaking ceremony featured remarks by Windsor Mayor Julie Cline, as well as representatives from WHA, LHA, and CHFA, all of whom touched upon the particularly challenging process of making Jacoby Meadows a reality.
“Being here today is a little bit surreal for me, as this is a project I've been working on since first joining the board in 2019,” said WHA Board of Commissioners Chairperson Frankie Cole. “Today's event truly is the culmination of several years of volunteer effort and collaboration between so many in our community, past and present commissioners, past and present town board members, and several strategic partners... [who] recognize the critical need for more affordable housing for our senior population here in Windsor.”
“This project has been particularly challenging,” said LHA Executive Director Jeff Feneis. “It's been five years in the making, three rounds of tax credit applications with CHFA, a minor redesign, a significant redesign... and just incredible challenges putting our pro forma together over the past two years as tax credit pricing went down, interest rates went up, and construction prices went up. But with the help of a lot of people who are here today, we got it done.”
“We’re excited to partner again with our friends at Loveland Housing Authority, along with Windsor Housing Authority and WORKSHOP8,” said Pinkard President Tony Burke after the ceremony. “There's a higher and higher demand for affordable housing in northern Colorado, and we've been creative working with our partners to figure out how to secure the funding for this project. We’re already looking forward to undertaking Phase II three to five years down the road.”
In her own remarks, Mayor Cline said, “This is a significant milestone to our community... The Town of Windsor, together with the Windsor Housing Authority, is dedicated to providing quality affordable housing to our residents,” underlining how Jacoby Meadows adds to the 142 affordable units already provided by the two entities.
The mayor added that this project is especially meaningful to her and the Windsor community, because it was named to honor John “Johnny” Jacoby, a beloved lifelong Windsor resident who was senselessly gunned down in 2015 while riding his bike, just up the road from the building site, in a case that remains unsolved today. “Johnny was a good friend to many in our town,” said the mayor, “and naming this project after him is a way of keeping his spirit alive.” Members of Jacoby’s family were present at the groundbreaking and thanked the project developers for choosing to permanently honor his memory.
