The Coloradoan reports the city has chosen Indiana-based TWG Development LLC, which specializes in affordable housing projects.
The city’s social policy and housing program manager, Sue Beck-Ferkiss, says the homes are planned to be sold to households earning less than 80% of the area median income.
She says that translates to about $54,500 for a couple and $68,100 for a family of four.
The city has projected having about 4,330 affordable housing units by 2024, but it expects to need an additional 800 units to meet growing demand.
Beck-Ferkiss says the deal with TWG is still under negotiation.