The Northern Hotel

The Northern Hotel sits on the leading edge of the Old Town Ft. Collins Historic District.  Having suffered a major fire in the 1970s, the building sat partially condemned for nearly a quarter of a century.  But because of its location, prominence and eligibility for the Nation Register of Historic Places the City of Fort Collins, CO, was reluctant to demolish the building even though every redevelopment plan failed to “pencil out.”  In 1997 NDC was called in to work with a local non-profit to assess the feasibility of converting the “Pearl of Northern Colorado” into affordable housing.  Four years and $12 million later the building finally received its certificate of occupancy.  The four-story, 42,000 square foot building is now home to 42 senior households with incomes at 45% and 50% of area median income (AMI) and leases 13,800 square feet in retail space on the first floor.  Capital for the project came from a wide range of sources including Historic Rehabilitation Tax Credits, Low-Income Housing Tax Credits, Affordable Housing Program funds from the Federal Home Loan Bank, State and Local HOME funds, Colorado Historic Preservation funds and loans from a local Community Development Financial Institution and a commercial bank.