February 18, 2025
(Lone Tree, Colo.) – February 18, 2025 – Koelbel and Company, a family-owned, Colorado-based real estate company with a 70-year history, continues to deliver affordable housing in the Metro Denver area with the construction kick-off of a new senior affordable housing rental community in the RidgeGate Community in Lone Tree.
“Koelbel and Company has long been committed to building affordable housing for residents of all ages and believes this is a critical component for creating healthy communities,” said Luke Canon, Vice President of Koelbel and Company. “RidgeGate is the ideal location for an affordable senior housing concept given its proximity to public transportation, parks and open space, nearby retail, and the Sky Ridge Medical Center. Affordable rentals allow seniors to discover a place to put down permanent roots without the stress of looking for housing for sale.”
In 2023, Koelbel received Lone Tree SIP and CHFA tax credit approval for this 101-unit affordable senior housing project to be built in the RidgeGate Village Center. Construction officially kicked-off in early December with an anticipated completion date of May 2026. The project is targeting the senior community and utilizing the income-averaging approach of AMI levels between 30% and 80% with the average AMI below the 60% AMI threshold. Each residential unit ranges in size from 594 to 1,074 square feet, features individually controlled heating and cooling units, a full kitchen (with dishwasher, oven/range, microwave, refrigerator/freezer, and garbage disposal), coat closet, in-unit washers and dryers, and cable and internet wiring. Community amenities will consist of a roof-top community room including outdoor amenity space with a BBQ area, fitness room, a lobby-level lounge including a coffee bar, game area and wrap-around covered patio, on-site property management, first come / first serve covered parking, controlled access entries, and security cameras.
“RidgeGate was designed to help people thrive, and each year we deliver on the promise of creating a community with lifestyle amenities, a walkable connection to work and nature, and diverse residential offerings,” said Darryl Jones, Senior Vice president of Coventry Development Corporation. “Having a diverse mix of residents from different ages, backgrounds and demographics contributes to the vibrancy of this growing community.”
This new senior housing community is near the RTD RidgeGate Light Rail station and the Lone Tree ‘Link on Demand’ service. The service is a free shuttle provided by the City of Lone Tree that operates everywhere within city limits and offers bike racks and is wheelchair accessible. The service has a dedicated app that allows users to schedule future rides or as needed between 7am and 7pm on weekdays and 10am to 10pm on Saturdays.
This is Koelbel and Company’s second affordable housing community in the highly desirable RidgeGate community. Talus, a 67-unit CHFA-funded affordable apartment complex at RidgeGate Station, was completed in 2023 and is fully leased.
RidgeGate is comprised of a 440-acre City Center that continues to grow every day. The downtown area is home to numerous commercial, residential, office, and mixed-use buildings all of which are surrounded by an extensive park and open-space network that makes up a quarter of the city’s total acreage. Within city limits is Sky Ridge Medical Center, Super Target, Park Meadows Mall, a recreation center, and arts center as well as a library. Lone Tree is also full of restaurants, shops, hotels, and other services.
Koelbel is partnering with local affordable housing programs in Colorado to offer homes both for sale and rent to Front Range residents. More information is available at Affordable Home Rentals In Denver and Surrounding Areas | Koelbel & Co.
About Koelbel and Company
Koelbel and Company has been striving to create the best residential and commercial real estate for more than 70 years. Founded as a residential brokerage company in 1952, Koelbel and Company is a family-owned, full-service real estate developer and real estate company with commercial and residential projects spanning from Vail and Winter Park to Louisville and Metro Denver, and has helped change the face of the Centennial State. Now in its third generation, the family-owned Koelbel and Company continues to place its indelible mark on the Colorado landscape with innovative concepts and developments that blend ageless values with pacesetting design. They don’t just construct houses, they create communities and build new places that people are proud to live in. Koelbel also offers an array of commercial properties, for all purposes as well as affordable rentals, senior living and office developments.
About RidgeGate
RidgeGate is a mixed-use community in Lone Tree, Colorado, that is currently home to 6,000 residents. The community began taking shape in 2003 with the Sky Ridge Medical Center and is nearly fully developed on the west side of I-25 with expansion now beginning on the east side of I-25. RidgeGate encompasses a total of 3,500 acres, or six square miles, and is designed to seamlessly integrate urban amenities and residential neighborhoods with beautiful natural open spaces, parks and trails. It is home to three light rail stations, dynamic shopping, dining and wellness as well as several large employment campuses, all joined by a highly connected and walkable UrbanScape®.
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Media Contact: Courtney Lis
970.581.6231
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