Color Sky Homes townhomes (Adams CRA)
Proposed participation agreement for 10 for-sale townhomes priced $310,000 to $440,000 with about $290,000 in tax increment support (about $29,000 per unit) and a three-year owner-occupancy requirement. Council members questioned whether the subsidy is needed.
- Where it stands
- In review
- Type
- Development agreement
- Location
- Vacant infill parcel near 30th Street, Adams Community Reinvestment Area
- Homes
- 10
- Applicant
- Color Sky Homes
Every hearing and vote
June 16, 2026 · City Council
Color Sky Homes participation and incentive agreement, Adams CRA (work session)
Discussed
Staff presented a proposal for 10 for-sale townhomes in three buildings on a narrow vacant parcel near 30th Street, priced $310,000 to $440,000, with a total investment over $4 million. The developer first sought about $620,000 in tax increment support; after staff estimated about $290,000 was available after set-asides, the developer said the project could proceed at $29,000 per unit. A three-year owner-occupancy requirement is proposed. Vice Chair Graf questioned whether subsidy is needed since comparable townhomes sold without it and the gap fell by more than half; Lundell welcomed for-sale housing but shared the concern. No action was taken.
- Units: 10 three-bedroom townhomes of about 1,048 to 1,500 square feet