NE Development Obtains $32.8M Loan for Rocket Apartments in Colorado

DURANGO, COLO. — NE Development has received $32.8 million in construction and permanent financing for the 194-unit Rocket Apartments in Durango. The community is located at 150 Confluence Ave.

Rocket Apartments contains seven garden-style, walk-up buildings on eight acres. The property will also contain a clubhouse and other high-end community amenities.

Love Funding Senior Director Leonard Lucas secured the financing through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program.