BOULDER — Boulder Housing Partners, the city of Boulder’s housing authority, will start on $42 million worth of renovations on six public-housing projects next week.

Through Project Renovate, work is set to begin on 279 apartment units, townhomes and single-family homes at six properties.

Sponsored Content 3 Rules of Inventory Management for Your Business

How a business manages its inventory can have a tremendous impact on the financial health of the company. Managed properly, inventory can be a great source of increased margins, higher revenue, or a combination of the two. Read More

The properties are Diagonal Court, 30 townhomes in north central Boulder; Iris Hawthorne, 14 single-family homes in central Boulder; Kalmia, 49 townhomes in north central Boulder; Manhattan, 41 townhomes and stacked flat units in southeast Boulder; Northport, 50 senior apartments in North Boulder, and Walnut Place, 95 senior apartments in downtown Boulder.

“Project Renovate is our top priority for 2015 and 2016,” said Betsey Martens, executive director of the housing authority. “We’ll preserve housing opportunities for our most economically vulnerable citizens while creating more opportunities for residents to gain in self-sufficiency.”

All of the properties were built in the 1970s and 1980s. Renovations will include new Energy Star appliances, bathroom and kitchen overhauls, open floorplans, additional storage and new lighting. Exterior work will include new siding, roofs, windows, doors and landscaping. Improvements will meet the Enterprise Green Communities standards and city of Boulder’s Smart Regulations.

The Diagonal Court, Manhattan and Kalmia properties will have new community centers to provide space for education and training programs for adults and children.

The housing authority raised the $42 million through Low-Income Housing Tax-Credit Equity and private activity bonds.

The LIHTC is an indirect federal subsidy that finances low-income housing. It allows investors, including banks, to claim tax credits on their federal income tax returns. The tax credit is calculated as a percentage of costs incurred in developing the affordable-housing property and is claimed annually over a 10-year period.

Partners in the project include the U.S. Department of Housing and Urban Development, Colorado Department of Local Affairs, Colorado Housing and Finance Authority, Enterprise Community Investment and FirstBank.

For more information on the six projects click here.