Related Digital gives $3.5M; Cheyenne to buy 8.37 acres for 184‑unit affordable housing project

Cheyenne — The City Council on June 8 accepted a $3.5 million donation from Related Digital that city officials said closes a funding gap and allows construction of a 184‑unit affordable housing development on an 8.37‑acre parcel east of Converse and Carlson.

Mayor Collins told the council the private gift will allow the city to acquire the site and structure a financing stack that brings a large low‑income housing tax‑credit project to Cheyenne. "This will change the lives of 184 people who are living in housing that they can't afford," the mayor said, describing the donation as the final piece of a funding puzzle the city has worked on for years.

How it will work

Under the plan described at the meeting, the city will purchase the 8.37‑acre property (lot 1, block 1 Scenic Development), then execute a lease and related agreements with the developer so the project can access tax credits and other financing. Council later approved a real‑estate purchase agreement not to exceed $2,645,000 for the parcel.

Why officials said it’s needed

Officials emphasized the project targets households that pay a large share of income for rent and that the development will target restricted rents (targeting roughly 60% of area median income for eligibility). "When you're in a hole, you have to stop digging," the mayor said, urging the council to use available tools including state/federal programs and private partners to expand affordable supply.

Public responses and caveats

Some public commenters supported the project; others voiced caution about how affordable housing is targeted. One resident urged that donations be coupled with community benefit agreements and flagged concerns about whether low‑income units provide a pathway out of long‑term poverty.

Next steps

The council approved acceptance of the donation and the purchase agreement; further steps will include executing the lease and completing financing documents so construction can proceed. City staff said more details about the lease term and affordability restrictions will be brought back to the council for final approvals.

Reporting note: Article draws on council remarks, staff descriptions of the financing approach, and the donation and purchase agreement approved in the June 8 meeting.