The City of Thornton is committed to working to expand the supply and distribution of safe and decent affordable housing throughout the city. The term “affordable housing” refers to homes or apartments in which the rent is no more than one third of the household income of people that earn less than 80% of the median, the mid-point of all incomes in the metro region. For the most up to date income limits, see the "Rent and Income Limits" link on the right.
Development of New Affordable Housing
Developers are encouraged to contact the City to learn about zoning regulations, building codes and potential funding sources. The Current Planning staff can provide information and answer questions about development processes, codes and zoning. Also, City Development offers free pre-application meetings in which developers can sit down with staff to discuss potential projects. Staff can help developers understand the land use, building, fire and access needs associated with the site and project concept. Interested agencies can visit the Planning and Zoning page found on the right-hand side of this page.
City Support for Affordable Housing
Letters of Support: Developers can request a letter of support from the City when applying for outside funding for affordable housing projects. Projects must the goals and intent of the City's Affordable Housing Policy, address a gap identified in the Housing Needs Assessment, or meet a goal in Thornton's Consolidated Plan (see Grant Programs & Resources).
Funding through the City: Funding mechanisms are available through the City for private or nonprofit developers to construct or renovate "affordable" units in a multi-family housing project. Information on these funding sources is shown below and linked on the right hand side of this page.
The Home Investment Partnership Program (HOME) can be used to support homeownership and affordable housing programs or projects that serve low and moderate income individuals and families. These projects must serve people at 80% of the area median income or less.
Private Activity Bonds (PAB) are tax exempt bonds designed to offer low cost financing for projects that create jobs and expand the City's tax base. Private
Activity Bonds are a widely accepted method for generating and leveraging
capital in Colorado. Each year, Thornton has the option to assign a set amount of Private Activity Bonds to eligible projects. Staff presented at
the July 11, 2023, City Council meeting. The resolution to assign the PABs
to Maiker Housing Partners (MHP) was approved. MHP will rehabilitate
The Overlook at Thornton located at 647 W. 91st Ave Thornton, CO 80260.
This 160-unit complex is home to over 400 residents earning 60% or less of Area
Median Income (AMI). The renovation project includes replacing
electrical, plumbing, HVAC, cabinetry, flooring, appliances, and windows. It
also includes improvements such as building a new clubhouse and pool area,
replacing roofs, new siding, resurfacing parking lots, and replacing the main
water line. The total project budget is approximately $81 million. Construction
is scheduled to begin in August 2023 and is expected to be completed in April
2025. Previous allocations have been used to assist various affordable housing developments throughout the city or have been used to assist first-time homebuyers in a similar manner. To learn more click on the Private Activity Bonds flyer under Funding Information.
Community Development Block Grant (CDBG) funds can be used for infrastructure for new affordable housing construction and in various ways for rehabilitation of existing affordable housing projects. CDBG funds can be used to assist income eligible homebuyers with their downpayment or closing costs, to acquire or rehabilitate existing rentals, or in certain scenarios to construct affordable housing. These projects must serve people at 80% of the area median income or less.
City staff can work with developers to help identify if a project would be eligible for funding, as well as what other types of outside funding might be available. Email Housing@ThorntonCO.gov for more information.