Preservation and Renovation

6-Plex - Ouray, CO

Community Fit

The 16 long-term residents and members of the City of Ouray workforce, were at risk of displacement before the Home Trust purchased the property in March 2023 for $1.25M. Financial support from the City of Ouray, Ouray County, and a private donor made this purchase possible.

This funding was essential to securing the property and maintaining affordable rent for the residents and qualifying the property for funding to address necessary repairs and improve the energy efficiency of this 50-year-old building.

OURAY
SIXPLEX

734 4TH STREET
AMI Served

<80%

Pop. Served

Approx. 16

Budget

$60,000

  • Secured Funding
    • Department of Local Affairs (DOLA): $350,000
    • Colorado Housing and Finance Authority (CHFA): $643,500
    • City of Ouray: $100,000
    • Ouray County: $100,000
    • Private Donation: $100,000
  • Pending Capitol Sources
    • Weave Social Finance - $1,444,075
    • City of Ouray - $100,000
  • Funding Need
    • $60,000 for energy efficiency upgrades for this 50 year-old building.
    Donate to this Project
  • Units
    • Six units: two 1BD and four 2BD.
  • Timeline
    • As soon as funding obtained and partners are secured.
  • Renovations to Date
    • Completing an unfinished laundry room and adding a commercial washer and dryer.
    • Installing new kitchen cabinetry in two apartments.
    • Completed necessary repairs, including replacing water heaters.
    • To help reduce tenants’ utility bills, we are working on partnering with Eco-Action Partners for energy efficiency upgrades.