Date of Release: 02/13/2008
Montrose, CO – Construction began earlier this month for a $1.5 million renovation of the Cottonwood Apartments located at 1650 Encanto Place, Montrose, CO. The Cottonwood Apartments include 60 multi-family units designated as Section 8, affordable housing and are owned by Community Housing Concepts, a Denver-based non-profit organization.

Community Housing Concepts (CHC) is dedicated to providing safe, decent, and affordable housing options for its residents and revitalizing low income communities. CHC owns thirteen low income communities, including Low Income Housing Tax Credit and Section 8 properties, with over 1300 units in five states.

Hud Karshmer, President of CHC, expressed the organization's “strong commitment to working closely with the Montrose community to ensure that the property provides quality housing to the residents.” CHC will invest a total of $1.5 million in rehabilitation to the property with exterior renovations to include a new roof, fence, windows, doors and upgraded exterior lighting; and interior improvements such as new flooring, countertops, fixtures, water heaters, refrigerators, stoves, toilets; and new smoke alarms.

Peggy Davis, the Community Manager at Cottonwood, is working hard to revitalize the sense of community within the complex. “CHC is committed to adding a new look and feel to the property. Along with renovations to the exterior and individual units, we are creating whole new atmosphere at Cottonwood and have many community events planned for the residents in the coming months.”

CHC selected Monroe Group, Ltd. to serve as the property management company for Cottonwood. Monroe Group manages 23 multi-family properties totaling 2,084 units. Its portfolio includes Project Based Section 8, LIHTC and mixed-income developments in Colorado, Indiana, Texas, North Carolina and Missouri.