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CASTLE ROCK, CO-TCR Mountain State Properties, an affiliate of Trammell Crow Residential Co., plans a $12-million to $15-million, 158-unit affordable housing complex in this fast-growing community in Douglas County. Monthly rents will average about $725 for a one-bedroom unit and about $1,005 for a three-bedroom unit, under preliminary estimates.

Construction is scheduled to start next spring and be completed in 2003.

The public-private efforts include $3.7 million in tax-exempt bond financing from Castle Rock that was authorized by Douglas County. Trammell Crow hopes to receive other tax-exempt bonds from state agencies as well.

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