(COLORADO SPRINGS) — The Myron Stratton Home held a groundbreaking ceremony on Thursday, Nov. 2 to celebrate the construction of 81 independent living apartments for low-income seniors. The new apartments will be located at 2950 Hidden Treasure Point, near Highway 115 and Lake Avenue in Colorado Springs.
With more than 700 people on the waiting list for independent living units at Myron Stratton, with an average wait time of seven years, the Board of Trustees recognized the overwhelming need in the community and approved the construction for the $30 million project.
“By building more housing for those independent living residents that all live below the 50% Area Median Income (AMI) for El Paso County, we can better provide equitable access to opportunities, and create a more connected and inclusive community,” said Executive Director, Daniel O’Rear. “We’re grateful to break ground on a project that will provide housing and services for generations to come.”
The total cost of the project is being funded by the Myron Stratton Foundation, making it the “largest single donation for affordable housing by a private foundation in the state of Colorado,” according to a press release.