Wednesday, March 21, 2012

$232,575 awarded in El Paso County

The Department of Local Affairs has announced that $232,575 in Neighborhood Stabilization Program III (NSP3) funds has been awarded to El Paso County for the following project:

Greccio Housing Unlimited, Inc. was awarded an additional $232,575 NSP grant to supplement a previously awarded $1,046,000 NSP grant to acquire and rehabilitate the 36-unit Woodbine Apartments located approximately one mile east of Downtown Colorado Springs, Colorado. The property went through a foreclosure sale, and Greccio will purchase the property from the lender. It contains 24 one-bedroom units, 9 two-bedroom units and 3 three-bedroom units. Built in 1964, it is a three-story garden style building with internal hallways.