Thistle is investing $7M in construction in 80 apartments in three different apartment communities in Boulder: Correll Apartments (21 units), Pinewood Apartments (23 units) and Valmont Square (36 units). All properties are presently owned by Thistle, and will transition to the Low Income Housing Tax Credit program. Thistle staff is working with PEH Architects to achieve meaningful improvements to the building envelope, systems and livability, to preserve these apartments for the long term.

Thistle refinanced the properties on September 30, 2017.  Apartment buildings date from 1948, 1957, 1964 and 1983. The properties are antiquated and in desperate need of modernization due to their age. Total budget is $27M, project began on Oct. 23, 2017 and is expected to conclude in November 2018.