A new affordable housing complex is rising in southeast Colorado Springs, where three nonprofit and development organizations have joined forces to expand rental options for lower- and middle-income households.
The development, called Jet Wing Flats, is situated near the intersection of Jet Wing Drive and Chelton Road and will add roughly 70 apartments to that part of the city. Work on the site began in January. The effort, priced at $23 million, brings together Solid Rock Community Development Corporation, Common Wealth Development, and Greccio Housing, and Solid Rock's executive director noted that the Colorado Housing and Finance Authority is among the additional funders backing the project.
Greccio Housing's senior director of operations said the complex is intended to accommodate a broad spectrum of household incomes, ranging from 30% of Area Median Income all the way to 80%. Under current Colorado Springs income guidelines, that band translates to annual household earnings of approximately $34,000 to $90,000 for a family of four, though those thresholds vary by household size and may shift before the building opens.
The complex will include one-, two-, and three-bedroom floor plans, with monthly rents scaled to the applicable income tier. At the lower end, a one-bedroom at 30% AMI could run roughly $650 per month; at the higher end, a three-bedroom at 80% AMI could approach $2,400 — though both figures reflect current data and remain subject to change.
Greccio Housing will oversee day-to-day management of Jet Wing Flats and plans to connect residents with support services that include budgeting instruction, food assistance, and first-time homebuyer courses. The senior director said Greccio has already seen that layered-services model bear results at Village at Solid Rock — an earlier collaboration among the same three partners that opened in 2024. He described residents there who moved from experiencing homelessness to ultimately purchasing a home, saying "77 people that, you know, probably couldn't afford market rate, we've seen people that literally have gone from homelessness to purchasing a home."
The Solid Rock executive director expressed hope that stable, below-market rents will give residents a financial foothold from which they can eventually pursue homeownership. Jet Wing Flats is slated for completion in spring 2027, with Greccio intending to open an interest list for prospective tenants roughly three months before the doors open.
Whether construction stays on schedule and how quickly the interest list fills once it opens will be key milestones to follow as the project moves through its remaining phases.