Officials in Johnstown are working on a plan for the Waggoner Crossing apartments near Colo. 60 and Colorado Boulevard after getting approval for $3.95 million in private activity bonds to help pay for affordable housing.
The northwest corner of the intersection has been zoned and platted for the planned 135-unit affordable apartment complex, but nothing has been approved yet, according to Sarah Crosthwaite, Johnstown’s economic development manager. Colorado Boulevard is also Weld County Road 13.
The project is expected to include four buildings with one-, two- and three-bedroom apartments. Amenities are expected to include a community room, an exercise room, a playground, bike storage and a picnic and barbecue area, according to a news release.
Johnstown officials applied jointly with development company Kentro Group for private activity bonds from Weld County for the project. The tax-exempt bonds are designed to support development projects for affordable housing, help the local economy and promote community development in Weld County, according to information on a Weld County website.
A Kentro Group spokesperson was not immediately available for comment. The Denver-based commercial real estate developer is known for developing grocery-anchored shopping centers.
The private activity bonds also are a way for private companies and nonprofit groups to secure financing for projects, since the county acts as the issuer. The federal government gives counties the authority to issue such bonds, and the interest is exempt from federal income tax, according to the release.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2025 BizWest Media LLC.
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