September 23, 2026 | Loveland, Colorado
River of OZ, LLC is pleased to announce an important milestone in the development of The Draper, a proposed mixed-use redevelopment project located at 301–333 East 4th Street in historic downtown Loveland.
On September 23, 2026, representatives of River of OZ presented plans for The Draper to the Board of Directors of the Loveland Housing Authority (LHA), outlining a proposed partnership to bring approximately 57 affordable residential apartments to downtown Loveland.
Following the presentation, the LHA Board voted to begin working toward a partnership with River of OZ to advance the affordable housing portion of the project.
Expanding Housing Opportunities in Downtown Loveland
The Draper is envisioned as a vibrant mixed-use destination combining the preservation and revitalization of historic downtown buildings with new residential apartments, retail shops, professional offices, entertainment, and community gathering spaces.
The proposed residential component would provide approximately 57 affordable mixed-income apartments designed primarily for working individuals and families. The initial housing plan targets households earning approximately 30% to 70% of the Area Median Income (AMI), helping address the growing need for attainable housing in the Loveland community. Note that 30% to 40% AMI is deeply affordable, while 40% to 50% AMI are workforce housing, and 60% to 70% is approaching market pricing.
A Collaborative Approach to Affordable Housing
Under the proposed partnership, the Loveland Housing Authority would contribute its expertise in affordable housing development, financing, and long-term property management.
The development team intends to pursue competitive 9% Low-Income Housing Tax Credits through the Colorado Housing and Finance Authority (CHFA), an important potential funding source for the residential component.
River of OZ would serve as project sponsor, with River Redevelopment, LLC providing development services.
Looking Ahead
The Board's favorable response represents a significant step toward assembling the public-private partnership necessary to bring The Draper's affordable housing vision to life.
The development team and LHA will continue working toward definitive partnership agreements, project financing, and the preparation of a competitive housing tax credit application.
The proposed partnership and redevelopment remain subject to final agreements, financing, regulatory approvals, and other development requirements.
The Draper looks forward to sharing additional milestones as plans progress for this exciting addition to downtown Loveland.