Castle Rock to get more senior housing

Meadowmark

BY MCKENNA HARFORD MHARFORD@COLORADOCOMMUNITYMEDIA.COM

Two new senior housing options are coming to Castle Rock, including a luxury home neighborhood and income-restricted apartments.

e Castle Rock Town Council approved a development plan on Feb. 21 for the Meadowmark multi-family project, which will bring 200 a ordable rental units to North Meadows Drive and Timber Mill Parkway. Additionally, the Hillside at Castle Rock neighborhood near Wolfensberger and Coachline Roads will begin construction this spring on 120 for-sale homes.

Both developments will be restricted to residents age 55 and older.

e Meadowmark project, developed by Ulysses Development Company, will be a four-story, 183,000 square foot building on 5.4 acres with 200 one and two bedroom apartments near the Meadows Town Center.

e units will be income restricted for residents making up to 70% Area Median Income, which is $57,470 for a single person in Douglas County in 2022, according to the Colorado Housing and Finance Association. Rents will be set annually by the Colorado Housing Finance Authority based on income level and the size of the unit.

Amenities include two outdoor gathering spaces, a wild ower garden, a tness room and a community room and craft room. e project also includes 255 parking spaces. e project is being done in part- nership with the Douglas County Housing Authority.

Castle Rock Director of Development Services Tara Vargish said the total cost of the project is expected to be around $58.4 million and will receive some funding from LowIncome Housing Tax Credits and the Colorado Division of Housing.

Developers for Meadowmark requested a $500,000 partial fee waiver of town development fees, which totaled $4.1 million. e council agreed to grant the developers’ waiver request, bringing the total fees down to $3.6 million.

“It’s good to have seniors in our community and it’s good to incentivize our seniors,” Mayor Jason Gray said. “I appreciate what (the project) will do in our community and this is a worthwhile action we’re going to do for our town and Meadowmark.”

Hillside

For Hillside at Castle Rock, developers BVLD Builders envision an active adult neighborhood of 120 attached and detached homes ranging from 1,900 square feet to 2,400 square feet with prices starting in the $600,000s.

Homes will come in multiple oor-plans, but all will include a full basement and a two-car garage. Neighborhood amenities will include pickleball courts, a covered pavilion with repit and open spaces with walking paths.

“Home buyers will appreciate this collection of stunning, lowmaintenance homes that provide plenty of time for you to enjoy the charm and vibrancy of Castle Rock and the active Colorado lifestyle that active-adults seek,” Aaron Foy, owner of BLVD Builders, said in a press release.