Salida Crossings developer Duane Cozart said he expects to receive a term sheet “any day now” for financing his mixed-use development on the east end of U.S. 50 in Salida.
Cozart recently changed the project from condominiums to apartments, which requires a different financial structure. He has said the design of the project will not be changed in any way.
Rents will start at about $750, Cozart said, and will go above $2,000 for the large three-bedroom units in the back buildings.
Cozart must still abide by the affordable housing requirements outlined in the project’s planned development.