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New affordable housing apartment complex in the works for Grand Junction

Developer says millions in project funding is secured
Published: Aug. 26, 2021 at 8:16 AM MDT
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GRAND JUNCTION, Colo. (KKCO) -Colorado based real estate company, Four Points Funding says it recently secured a $15 million construction loan for The Eddy at Grand Junction, a 96-unit multifamily apartment complex and 74-unit RV park.

Four Points Funding calls the complex a market-rate community aimed at providing attainable housing to address the city’s growth.

Four Points says it’s focus is on what it calls ‘Opportunity Zones’ in Colorado’s expanding communities.

“Grand Junction has all the key fundamentals to benefit from the migration to Colorado’s western slope,” says Stephanie Copeland, Partner at Four Points Funding, and former Executive Director at the Colorado Office of Economic Development and International Trade. “Good schools, exceptional hospitals, outdoor recreation, a recently expanded airport, and a growing small business community make Grand Junction an attractive place for young people and families seeking an alternative to the density of the Denver and Boulder markets. However, the lack of attainable housing in the area has been a pain point for the City...”

The Eddy at Grand Junction complex is expected to be built on the east end of Los Colonias Park, along the Colorado River.

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