According to the Coloradoan, the Fort Collins Housing Authority will be adding 72 affordable housing units to the 1,043 units it currently owns thanks to approval by the Fort Collins Planning and Zoning Board on a new $18.4 million affordable housing complex.

The new complex, called Village on Redwood, will be located in North Fort Collins near the intersection of Redwood Street and Nokomis Court.

The residence will serve families at 30 to 60 percent of the area's median income. Currently, the median income across Fort Collins is $53,780.

Construction will begin on the new property in the beginning of 2016.

Funding for the Village on Redwood will come together through the Low Income Housing Tax Credit Program, City of Fort Collins Community Development Block Grant, and the State of Colorado Division of Housing.