It is no secret that the cost of living in Colorado is high. Housing costs in particular are 20% higher than the national average. Taking this into consideration, affordable housing options in Fort Collins are of paramount interest for students at Colorado State University.

Prospect Plaza Apartments, located on West Prospect Road, is widely regarded as one of the most affordable housing options for students living off campus. Alongside the lowest rent prices in the City of Fort Collins, it offers easy access to the Transfort Bus System, a laundromat and the Rams Against Hunger food pantry, making it an ideal option for housing and food-insecure students at CSU.

Prospect Plaza is also home to the LuMin Student Housing Security Initiative, a program in collaboration with Lutheran Campus Ministry at CSU and Off-Campus Life that offers subsidized housing for housing-insecure students. Donna Lopez, the housing coordinator for LuMin, touched on the opportunities the program offers students to continue their education despite housing insecurity.

“We have really targeted students who are housing insecure, homeless (and) first generation; the result is that we’ve had a successful number of people graduate,” Lopez said. “When you have secure housing and the ability to not have to work every job in town and only work one job, you can focus on your academics. You can focus on being a student.”

Due to health and safety concerns in Prospect Plaza, CSU STRATA, a private company affiliated with CSU that owns the apartment complex, made the decision to close for remodeling during summer 2025. However, students have begun to voice their concerns over STRATA’s projected plan to remodel Prospect Plaza into a luxury apartment complex, raising questions surrounding affordability and the displacement of current residents.

“Most of the students that live in Prospect Plaza are nontraditional students, whether that’s international students, a student with a family, … so it’s all these identities that typically are marginalized and not supported in accessing that higher education. People rely on the low cost of these apartments. Whether you’re in the initiative or not, these are the most affordable apartments in Fort Collins.” -Valeria Valles Castañeda, Prospect Plaza Apartments resident

There are many details about the project that are still unclear. Valeria Valles Castañeda, a current Prospect Plaza resident and member of the LuMin Student Housing Security Initiative, said she received a letter from Prospect Plaza over the summer notifying her of the project and her options regarding relocation and lease agreements. Only a portion of residents have received this letter so far.

“You could finish off your lease and be relocated into a different building, or you would be able to terminate your lease early,” Castañeda said. “Their ask was to notify the Prospect Plaza team by October, and that letter was sent on Oct. 3. There was just a lot of miscommunication. It seemed like things were scratched out of the letter, so it didn’t seem very direct and clear of what their ask was. I feel like it caused more questions than anything.”

LuMin and its members will be relocating to Ram’s Village following Prospect Plaza’s closure. While Castañeda will be graduating and moving out of Prospect Plaza in December, she expressed concern for the residents who will be forced to relocate and seek alternative housing.

“Most of the students that live in Prospect Plaza are nontraditional students, whether that’s international students, a student with a family, … so it’s all these identities that typically are marginalized and not supported in accessing that higher education,” Castañeda said. “People rely on the low cost of these apartments. Whether you’re in the initiative or not, these are the most affordable apartments in Fort Collins.”

Castañeda is also a member of the Associated Students of CSU Housing Caucus, which is working closely with Rams Against Hunger, Off-Campus Life and Student Legal Services to find out more information about the project. Housing Caucus Chair Lauren Davis emphasized the power and rights students hold. 

“There is the ability to negotiate and ask for things as a student, particularly around information,” Davis said. “It was pretty vague, especially in the letter that they sent out. I think that it’s not unreasonable for students to ask where they’re going to be relocated and if they can get their security deposit back. I think those two things are going to be where students have the most leverage and power.”

In collaboration with Student Legal Services, the Housing Caucus hosted an informational session for students in hopes of clearing up confusion regarding renters’ rights and laws. Penny Gonzales-Soto, the director of Student Legal Services, was asked vital questions from Prospect Plaza residents regarding early termination laws, reasonable alternative accommodations and the ability of residents to negotiate with Prospect Plaza for certain arrangements.

While Gonzales-Soto could only offer information regarding the housing laws in Colorado, she insisted that there is no reason residents should not receive their security deposits back from Prospect Plaza after leases are terminated.

“(A) security deposit is an amount of money that a landlord holds onto if they have to do repairs at the end of your lease,” Gonzales-Soto said. “My legal opinion is that they can’t hold one penny of that security deposit because they will be doing no repairs.”

Gonzales-Soto also encouraged residents to not be afraid to reach out to Prospect Plaza and negotiate for accommodations surrounding lease agreements, moving and more.

“I think it’s worthwhile to negotiate,” Gonzales-Soto said. “They don’t have to do it. Can you ask to provide us boxes? Sure. Do they have to provide them? No. This is something out of anybody’s hands, and it’s displacing a whole bunch of folks. You’ll never know until you ask.”

Reach Claire VanDeventer at news@collegian.com or on Twitter @CSUCollegian.