Developer: Breckenridge Land Acquisitions, LP
URA Participation: $792,166
Total Project Costs: $46.5 million
Aspen Heights is 220-unit student-orientated rental housing project located to the east of North College Avenue, between Conifer Street and re-aligned Vine Drive. The site is approximately 31 acres and at full build-out will include 62 duplexes, 76 multi-family units, and 82 single family homes for total of 567 bedrooms available for individual leasing. Single family homes constructed at this site are proposed for conversion to extra occupancy rental houses after construction, increasing the total number of bedrooms to 712.
In addition to on-site improvements, Aspen Heights will construct public improvements to the public street and storm water infrastructure including:
Northeast College Corridor Outfall (NECCO): As part of its construction, Aspen Heights will excavate 5.4 acre feet of the City's previously purchased 9.4 acres of regional detention pond space to serve its development. In addition, the project will install 3 regionally sized inflow and 1 outflow pipe to provide for the broader NECCO project.
Vine Drive: The project will build a portion of re-aligned Vine Drive, a new east-west street that will ultimately connect North College Avenue to I-25.
Redwood Street: This project will complete Redwood Street thereby providing an alternative route from the north to Downtown, and serving as a critical travel alternative to North College Avenue.