The RHA Land Development program seeks to obtain land donations to be transferred to qualified developers for construction of affordable housing. Donations are expected to be made primarily through the City of Durango’s Fair Share program. Our partner, the La Plata Homes Fund, operates a “developer support program” that can provide low-cost, early-stage financing to qualified affordable rental housing projects, as well as helping to obtain long-term subsidy financing..
Lumien Apartments Ground Breaking Ceremony
Solvera Advisors LLC, in partnership with the La Plata Homes Fund, Inc., is developing a 50-unit apartment building at the southeast corner of 32nd Street and East Animas Village Drive. The $11 million project will feature one–and two bedroom units that will be available to households that earn less than 60% Area Median Income ($35,000 /yr for a family of 2). Rents will range from approximately $500- $825 per month. The project will be ready for occupancy in summer of 2015.