CRP Affordable Housing Secures Financing for Colorado Crest Project in Pasadena

San Diego-based CRP Affordable Housing and Community Development has successfully secured financing for the first phase of its Colorado Crest project in Pasadena. Located at 1756-1776 E. Colorado Boulevard, near the Pasadena City College campus, the development will replace three commercial buildings.

The project is designed as a seven-story structure, featuring 88 apartments with one, two, or three bedrooms. It will also include 2,000 square feet of ground-floor commercial space and parking for 23 vehicles. The initial phase of Colorado Crest will dedicate 44 of these units to households earning between 30 and 60 percent of the area median income.

Shelter Architects is responsible for the design of the complex, which renderings depict as twin seven-story buildings. This development represents a continued effort by CRP Affordable Housing to address the need for affordable housing options in the region, highlighting ongoing opportunities and financial mechanisms available for such initiatives in California.