City of Boulder Announces Affordable Housing Fund Awards

The City of Boulder has announced 2025 grant awards for the Affordable Housing Fund; $21,380,000 will be distributed to two organizations.

The Affordable Housing Fund is used to build, rehabilitate or acquire affordable housing. These local funds, sourced from commercial linkage fees, Inclusionary Housing cash-in-lieu and the county’s Affordable and Attainable Housing Tax, help advance the city’s goal for 15% of all homes in the City of Boulder to be permanently affordable by 2035.

“This fund round is the city’s largest one-year investment in affordable housing,” said Kurt Firnhaber, director of Housing and Human Services. “These investments build on our successes in 2025; the city added 242 new affordable homes in 2025. With our investments in this fund round, we will add another 184 homes to the city’s affordable home inventory which will help families, service workers and retirees stay in the community they call home. We are fortunate to have a strong partnership with Boulder Housing Partners and Thistle Communities that effectively leverage these funds to help the city toward our affordable housing goals.”

Projects receiving grants for this fund round include:

• Boulder Housing Partners’ Golden West North Tower at 1055 and 1057 Adams Circle was awarded $1,400,000.
  • Preserves and expands deeply needed older adult housing by converting a formerly vacant assisted-living tower into 31 updated independent-living apartments for low-income older adult with 21 units becoming permanently affordable. The updates will modernize shared spaces and improve accessibility.
• Boulder Housing Partners’ Penrose Place at 3300 Penrose Place was awarded $15,080,000.
  • Designed for sustainability, livability, and robust resident services, this 113-unit, 100% permanently affordable housing development will provide deeply affordable, energy-efficient homes in a high-opportunity area with strong access to transit, amenities, and community resources. These homes will be available to households earning 30–60% AMI.
• Boulder Housing Partners’ 34^th Street Project at 3125 34th Street was awarded $4,400,000.
  • This 44-unit, all-electric housing community will serve individuals and families earning 30–60% AMI through a mix of one- to three-bedroom permanently affordable townhouse-style homes.
• Thistle Community Housing Fairways Apartment Complex Rehab at 5610-5640 Arapahoe Avenue was awarded $500,000.
  • Provides funding for critical exterior and interior renovations including roof, stairwell, deck, xeriscape, and kitchen upgrades to preserve 70 permanently affordable homes for residents earning up to 60% AMI. These improvements will ensure the property’s long-term livability and sustainability without requiring resident displacement, reinforcing the community’s continued affordability.

Learn more about the city’s investment in affordable housing on the city’s website.