Project will bring 50 affordable apartments for older adults to Downtown Superior

Pennrose, the Town of Superior, and project partners celebrated the groundbreaking of Kite Route Crossing, the 50-unit affordable housing community for older adults 55+ at 2101 Old Rail Way in Downtown Superior. The high-quality, mixed-income housing development, anticipated to open in Summer 2027, will be the first income- and rent-restricted residential community in the Town.

Speakers at the groundbreaking celebration included: Shannon Cox Baker, Regional Vice President, Pennrose; Steve Johnson, Chief Operating Officer, Colorado Housing Finance Authority; Tyler Jaeckel, Housing Director, Colorado Department of Local Affairs; Susana Lopez-Baker, Executive Director, Boulder County Housing Authority; Mark Lacis, Mayor, Town of Superior; Kimmel Cameron, Managing Director, Hudson Housing Capital; Brett Macleod, Executive Director, JPMorgan Chase; and Charlie Adams, President of Development, Pennrose.

The new development includes a mix of 44 one-bedroom and six (6) two-bedroom units available at 30% to 70% of the Area Median Income (AMI). The brand-new apartments will boast modern kitchens with hard-surface counters and Energy-Star Appliances; luxury vinyl flooring; spacious bedrooms with walk-in closets; storage closets; and Juliet balconies in select units. Residents will also enjoy access to covered parking and a ground-floor amenity space, including on-site property management and maintenance, a community room, open-concept lobby, activity room, indoor bike storage, pet washing station, package room, and fitness center.  

Kite Route Crossing is ideally located adjacent to the commercial core of Downtown Superior, situating residents within blocks of medical services and pharmacy, public transportation, full-service grocery store, ice rink and sports court, and other retail and recreational amenities.

“Today marks an incredible milestone for the Town of Superior, the first step in bringing high-quality, affordable housing and dedicated apartments for older adults to fruition,” said Shannon Cox Baker, regional vice president at Pennrose. “We look forward to working with the Town, local community, and neighborhood stakeholders to ensure Kite Route Crossing is an asset to the booming Downtown for many years to come.”

Notably, in alignment with State, County, and Town sustainability goals, Kite Route Crossing will be 100% electric powered and designed to meet Enterprise Green Communities standards. The building is also bult for maximum fire resiliency to go beyond standard 2021 IFC code, including fire-resistant external materials, a building-wide sprinkler system, and plans for a protective zone adjacent to the site to provide defensible space.

Kite Route Crossing is meeting a critical need for the Town of Superior, which currently has zero Low-Income Housing Tax Credit (LIHTC) units and zero age-restricted units. Additionally, the new building and added housing supply will help alleviate damage from the 2021 Marshall Fire, the most destructive wildfire in Colorado history that destroyed 391 homes in Superior and over 1,000 homes across Boulder County.

The $26.35M development is supported by federal and state housing tax credits allocated by the Colorado Housing and Financing Authority and purchased by Hudson Housing Capital and JP Morgan Chase.  JP Morgan Chase and Berkadia provided senior construction and permanent loans, respectively, and the Colorado State Division of Housing, Department of Local Affairs, Boulder County, the Town of Superior, and the Community Foundation of Boulder County all provided crucial financial support via grants, subordinate loans, and fee waivers in support of the project.    

With a regional headquarters in Denver, Pennrose is committed to delivering high-quality, transformative affordable housing across Colorado and the Mountain region. Pennrose most recently celebrated the grand opening of Ascent at Hover Crossing, a  75-unit affordable housing community with on-site Early Childhood Education center in Longmont, Colorado.