Welcome to Thistle Communities
Bienvenidos a las comunidades de Thistle. Para español, presione aquí.
A private, non-profit real estate company, Thistle Communities develops, manages and preserves quality, permanently affordable rental and ownership homes as well as market rate homes in Boulder County. Since our founding in 1989, we’ve created over 1,000 affordable homes.
While summer is traditionally a time of vacation and relaxation, at Thistle we are moving full speed ahead with several innovative partnerships and projects. One is "Color in the Courtyard," a collaboration between Open Arts Clementine Studios and Thistle's Boulder
leasing office. On August 14th, kids of all ages enjoyed an afternoon of play and art exploration at Fairways Apartments. We thank Open Arts for this opportunity and are looking forward to more events and possibly a mural project in the fall.
Another initiative which has begun to show results is our partnership with Attention Homes, a Boulder non-profit dedicated to providing services to at-risk and homeless youths for the last 40 years. We have formalized our relationship with an MOU and two of our apartments are now homes for their clients. Shown left, Angelina and Najaah are chilling after work at their apartment. They are saving for a car and their plans for the summer are "working, paying bills and being adult-like." Visit attentionhomes.org for more program information.
We could not achieve the Sage Court Phase 3 Renovation without a $762,500 grant from our investment partner, the City of Boulder (CoB). Phases 1 and 2 were completed over the past two years with CoB and NeighborWorks funding, bringing the total investment to over $1M. We are partnering with a local hotel to house our residents while the extensive remodeling takes place. Intern therapists from Naropa(another fledgling partnership) will be available to help residents adjust during this time. Sage Court is Thistle's first property and features 19 units that are accessible to disabled individuals.
And, the 69-unit Lumine Apartment complex in Boulder (shown right) is fully leased! Our new residents include employees of BVSD, King Soopers and CU Boulder, managers for local businesses such as Mad Greens and Crist Mortuary, a chiropractor, a nanny and numerous self-employed. The Lumine and Ledges apartment complexes have added 130 new affordable apartments to Boulder's housing stock over the past year. Thistle and our partners are making a difference by housing Boulder's diverse workforce, so people can live where they work and work where they live.
No Margin, No Mission
What happens if you pay all your bills and have money left over? You might take a nice vacation, buy a new car or maybe some stock. You don’t call it making a profit, instead it’s more akin to investing in your life or future.
It’s the same with Thistle Communities. At the end of the year, any cash in our accounts is reinvested in the company or its properties. All organizations, for profit or non-profit, need to pay their bills to survive, and if they are managed astutely, they show a surplus of income over expenses or a profit. This “profit” (or margin) is crucial to keeping a company alive. The difference between for-profits and non-profits is where that margin goes. In a for-profit company, the margin is paid to the shareholders, the business owner or other investors. In a non-profit, the margin is retained and reinvested in the organization's mission.
Call it profit, margin or cash; any organization is happy to see more revenue than expense at the end of the year. Our goal is to have a range of community-oriented programs that allow us to earn a profit rather than depending on public and private subsidies. And that’s why at Thistle, we are fond of saying, “No Margin, No Mission.”
Responsible for seeing that the organization thrives is the all-vounteer Board of Directors. Thistle Board members use their financial, legal and non-profit consulting expertise for the benefit of the organization. In 2012-2013 Thistle Board and committee members contributed over 944 hours per year, valued at $163,000 per year. At a typical meeting, shown above, the Board formulates strategy and sets the course for the future.
Climbing the Housing Ladder
Finding a place to call home is one of the most important decisions a family makes. Whether the choice is an apartment or a single-family home, it is usually driven by finances. Thistle Communities' unique niche in Boulder County is offering individuals and families a choice in housing options that range from an affordable rental at 30 percent of the Area Median Income (AMI) to market rate homes that still are the lowest price new homes in the City of Boulder. These price points are rungs on the housing ladder. Renting or buying from Thistle helps families move up the housing ladder, accumulate equity, foster stability and contribute to their community. Please take a moment and explore our rental and home ownership opportunities.
Boulder Rental Office, 5620 Arapahoe #212, Boulder, CO 80303 303.442.2293
Longmont Rental Office, 15 Third St., Longmont, CO 80501 303.651.9496
Admin Office (No Leasing Availability Information), 1845 Folsom, Boulder, CO 80302 303.443.0007