Project Will Make Room For 90+ New Homes

DENVER (CBS4)- The Denver Housing Authority is getting ready to demolish one neighborhood to make room for a new one.

The neighborhood at 10th and Osage in Denver is getting a makeover. Crews have been at the site for a few days demolishing buildings from 1953.

They're making room for 93 residential units of mixed income housing plus a 7,000 square foot area dedicated to the residents that will house a nonprofit.

Crews are also installing new sewer, water and utility lines.

The demolition is expected to cost about $22 million but is expected to generate 300 jobs with about $47 million in spending. The financing is coming from the Denver Housing Authority, private bank loans and tax credits.

Crews will start building in about a month.