$26M Loan for 2-Phase Multifamily Project

AVON, CO-The 244-unit Buffalo Ridge Apartments a short distance from the entrance to the posh Beaver Creek ski resort is funded through tax-exempt bonds issued by a local housing authority and the state of Colorado.

By John Rebchook | June 18, 2002 at 01:01 AM

Phase I received $10.3 million from the sale of tax-exempt bonds issued by the Buffalo Ridge Affordable Housing Corp., a non-profit group created by the Avon Housing Authority. Phase II received $15.65 million of bonds issued by the state of Colorado.

Both phases will provide 244 multifamily rental units. Buffalo Ridge is expected to be completed within 16 months.

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