Affordable Housing Complex In Palo Alto Reopens After Significant Renovation
Palo Alto Housing has completed a renovation of an affordable housing complex in Palo Alto. The Colorado Park Apartments at 1141 Colorado Ave. reopened Aug. 17 after extensive renovations to update the site’s aesthetic and reduce its environmental impact. The City of Palo Alto partnered with PAH during the recent renovation and for the original construction in 1972.
The complex is a seven-building, 60-unit garden walk-up complex. The property has eight one-bedroom, 24 two-bedroom, 22 three-bedroom and six four-bedroom apartments. The three- and four-bedroom units are two-level townhouses with washer/dryer hookups. The development also includes a laundry facility and 90 spaces of covered and uncovered car parking for tenants.
In addition to the replacement of the building façade, the $31.9M renovation included new patio fencing, roofing, paint, finishes and landscaping. Upgrades included increased outdoor seating, a new barbecue area, solar panels, two play structures, adult outdoor exercise equipment and a bicycle storage shed. The lawn areas are more eco-friendly with native drought-resistant plants. Inside the apartment homes, various appliances have been replaced with new energy-efficient models and new water-saving fixtures have been installed.
Colorado Park L.P., an affiliate of PAH, financed the renovation through tax-exempt bonds as well as loans from U.S. Bank, Union Bank and the City of Palo Alto.