Preservation and Renovation

Community Fit

Preserving and remodeling a triplex home, into a 5-plex, in the heart of the City of Ouray as affordable housing while promoting year-round occupancy - contributing to the vibrancy and sustainability of the city.

The renovations to this property expands the impact to the people served from 5 to 16 income-qualified residents/workforce of the City.

OURAY
5-PLEX

835 2ND STREET
AMI Served

Less than 120%

Pop. Served

Approx. 16

Budget

$2,150,800

  • Pending Capitol Sources
    • Weave Social Finance - $1,500,000
    • City of Ouray - $100,000
  • Funding Need
    • $550,800 in additional equity to secure financing as part of the overall capital stack.
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  • Timeline
    • Closed in August 2025
    • Renovations August 2025 - March 2026
    • Anticipate Accepting Applications - February 2026
    • Leasing April/May 2026
  • Units

    • This preservation project is currently a 5,652 sq. ft. triplex, built in 1999.

    • The property will be converted into a 5-plex, maximizing the number of people that can benefit from this project.

    • The conversion will result in:
      • 1 - Studio
      • 2 - one bedroom units
      • 1 - two bedroom unit
      • 1 - three bedroom unit