We all know how expensive Fort Collins can get, especially in the Old Town area. Fort Collins has continually been an up-and-coming community, especially with numbers at the university staying steady even after the pandemic. However, with impressive population and economic growth usually comes an increase in housing costs.

Downtown Fort Collins is a prime place to reside, but it costs your bank account a pretty penny. And, for those who work in the downtown area, living close to their work isn't always feasible considering the cost.

That is why Oak 140 housing is gaining such traction in its mission to create affordable housing in downtown Fort Collins.

Partnered with Housing Catalyst and Fort Collins Downtown Development Authority (DDA), Oak 140 will become the first Low Income Housing Tax Credit (LIHTC) project in that area.

Housing Catalyst, Oak 140
Housing Catalyst, Oak 140

Oak 140's main target audience will be the workforce in downtown Fort Collins. The focus for the Oak 140 development is to create sustainable and affordable living with quality and comfort.

On Housing Catalyst's site for the new housing project, they say the goal of Oak 140 is for it to play a:

Key component in the DDA's vision to make Fort Collins a stronger, safer, and better community by creating living options for downtown employees that currently find it financially challenging to live and work in Fort Collins because of rising housing costs.

Construction for the Oak 140 development began this summer (2021) and is projected to be completed in 2023. There will be 79 total units, 58 of which will be one-bedroom apartments to cater to individual residents.

$2.5 Million Old Town Fort Collins Penthouse

Take a look inside this Italian-inspired penthouse located in Old Town Fort Collins.

More From 99.9 The Point