(COLORADO SPRINGS) — GPR Properties was awarded State Affordable Housing Tax Credits to expand the Bentley Commons Apartments in Southeast Colorado Springs, near Hancock Expressway and Astrozon Boulevard.

GPR Properties is comprised of three non-profits, Greccio Housing, Partners in Housing, and Rocky Mountain Community Land Trust. The three groups have helped provide affordable housing in Colorado Springs since 1999.

The credits will allow the apartments to expand from 24 units to 192 units, renovate existing units, and reconfigure the community center and outdoor recreation areas. GPR said construction is expected to begin in early 2023 and be completed in late 2024.

GPR said they will continue to serve individuals and families earning up to 60% of the Area Median Income (AMI). The new housing will be a mix of unit types such as:

  • 60 one-bedrooms
  • 105 two-bedrooms
  • 27 three-bedrooms

The units will accommodate a mix of income levels:

  • 27 units at 30% of AMI
  • 19 units at 40%
  • 102 units at 50%
  • 44 units at 60%

“The need for affordable housing continues to increase in the face of inflation, the desirability of our community, a still-red-hot housing market, and rising rents,” said GPR Properties.