Glenwood Springs is set to expand its affordable senior housing options by the latter part of 2025 with the construction of the Benedict Project, a four-story building with 34 one-bedroom apartments for seniors 55 and older. The Colorado State Housing Board recently awarded $1.7 million in funding toward the project as part of the larger $21 million allocation for affordable housing and homeownership initiatives across Colorado. The Benedict Project is a collaboration between Archdiocesan Housing, Inc. (operating under Catholic Charities Housing) and BlueLine Development, Inc.
“Securing that $1.7 million is critical for the Benedict Project. This funding will cover some crucial costs, making sure we can keep rents affordable,” said Justin Raddatz, executive director of Catholic Charities Housing. “It’s what we need to turn our plans into an actual home for seniors.”
The Benedict Project goes above and beyond state housing requirements, meaning qualifying senior residents will likely have a much lower cost of living than they would if they lived in traditional affordable housing units. While state regulations require 20% of units to be reserved for residents with incomes restricted to 100% of the Area Median Income (AMI), the Benedict Project imposes a 40-year restriction on units for incomes between 30% and 80% AMI. This translates to monthly rents ranging from $550 to $1,500, making the apartments accessible to a broader range of seniors in need of housing.
“We invested a significant amount of our capital into this project, but because of historically high construction and development costs, that still wasn’t enough,” Raddatz said.
While the state may have policies designed to limit the cost of affordable housing units, advocates have noted that they aren’t low enough to meet the needs of senior residents living on a fixed income, given the unpredictability of inflation. “We’ve decided to go beyond the state’s requirements because we really want to make living affordable for seniors in Glenwood [Springs]. By setting the income cap between 30% and 80% AMI and extending restrictions to 40 years, we’re making sure these homes stay affordable for a long time,” Raddatz explained. “The rent range of $550 to $1,500 means more seniors who need financial relief can actually afford to live here. It’s about providing stability and peace of mind to our residents.”
The Benedict Project has also earned a competitive Low-Income Housing Tax Credit (LIHTC) from the federal government. Watkins Fulk-Gray, senior city planner for Glenwood Springs, noted the significance of this achievement during a Jan. 18 city council meeting, saying, “What we see when projects that apply for LIHTC awards don’t get them is the projects tend to either not happen or they pivot to a market-rate project.”
One longtime, 93-year-old Glenwood Springs resident, Patricia Leonetti, is among the seniors who will qualify to move into the new facility next spring. She told The Sopris Sun that living on a low fixed income as a senior citizen in Glenwood Springs is a struggle.
The Benedict Project is named in honor of Fritz and Fabi Benedict, generous benefactors in the Valley who donated funds to Catholic Charities Housing to be used for projects like this one. Fritz Benedict worked as an architect in Aspen, designing over 200 buildings over the course of his career. He was known for his innovation and community-oriented approach to building.
The development will be built on a vacant half-acre lot at the Midland and 27th Street intersection, offering convenient access to the 27th Street underpass and RFTA Bus Rapid Transit station. This location ensures that residents who rely on public transit will have easy access to buses, making it easier for them to maintain independence, stay connected with the community and access essential services.