I was right when I wrote earlier this year about forced affordable housing being required on our area suburbs as developers in Parker are now building 3 new apartment complexes that will feature Section 8 housing and I have heard that 1 complex will only feature Section 8 housing. I know one community backs up to new $500k-$600k new homes being built by Meritage. Needless to say these new homeowners are very upset about this new apartment community being built.
Another agent I talked with who is friends with the mayor of Parker is shocked that the mayor is in support of these 3 apartment complexes including the one that will be all subsidized housing. I told this agent that the mayor has NO choice as HUD and the DOJ I am sure is forcing Parker to do this.
Copper Steppe Apartments near Parker in a new development called Sierra Ridge at the SW corner of Lincoln and Chambers Road will feature 264 new apartment units in 11 buildings with a club house. Sierra Ridge will also feature about 900 new SFR homes, a public park, and new elementary school.
Copper Steppe will be open for leasing only to people and families who make less than 60% of the area’s median income in this rent-restricted community. Financing for this project is being provided by CHFA.