Pennrose opens 75-unit affordable housing with child care in Longmont

LONGMONT, Colo. — Pennrose and the Longmont Housing Authority, along with project partners, marked the opening of Ascent at Hover Crossing, a 75-unit affordable housing development that includes an early childhood education center.

The $39 million development includes one- to four-bedroom apartments across two buildings. Units are available to households earning between 30% and 80% of area median income, which ranges from about $31,650 to $84,400 for a one-person household.

The project includes a mix of income-restricted units and market-rate housing. Amenities include on-site management, a community building, fitness space, indoor and outdoor play areas and shared meeting areas. The property is all-electric and meets NGBS Bronze standards. A rooftop solar installation owned by the city is expected to reduce utility costs for residents.

The development is located near grocery stores, a pharmacy, a hospital, public transportation and outdoor recreation.

“Today marks a significant milestone for Longmont as we officially open the doors to Ascent at Hover Crossing,” said Shannon Cox Baker of Pennrose.

The site also includes a two-story early childhood education center with three classrooms, indoor and outdoor play areas and support space. The center will be operated by the OUR Center, a local nonprofit, and is expected to open later this year. It will serve both residents and the broader community.

City officials said the project addresses demand for housing and child care. Longmont’s population has increased 15% since 2010, according to city data.

“Ascent at Hover Crossing addresses important city priorities, including affordable housing and access to child care,” said Mayor Susie Hidalgo-Fahring.

Funding for the project included federal and state low-income housing tax credits and private activity bonds issued by the Colorado Housing and Finance Authority. Financing and equity were provided by RBC Community Investments, JPMorgan Chase and FirstBank.

The Longmont Housing Authority will manage the property. Deneuve Construction Services served as the general contractor and Van Meter Williams Pollack was the architect.