DENVER (CBS4)– The City of Denver is working to help low-income families find a place to call home. On Tuesday, the City approved three new affordable housing loans. The loans will be used to build a total of 294 units in the Hale, Northfield Stapleton, and Westwood neighborhoods.
Faith Calhoun is a working, homeless mother desperately trying to find a place to live. Her family income makes them candidates for affordable housing, but she says, right now it’s impossible to find.
“There are wait lists of three and four years. We just don’t have that kind of time,” said Calhoun.
Her family has only seven more weeks at their current shelter. Affordable housing projects in Denver can’t be built fast enough.
Here are the addresses of some of the affordable housing projects that are currently under construction in Denver:
- Renaissance at North Colorado Station, 3975 Colorado Blvd.
- 2300 Welton St.
- Ruby Hill Residences, 1144 S. Pecos St.
- Terraza del Sol, 3116 W. Alameda Ave.
- 4055-4124 Albion St. Park Hill Village West apartments in Park Hill near the new 40th/Colorado commuter rail station.
The City of Denver says housing is a big issue, especially with the city topping the nation for both millennials and retirees wanting to move into the urban lifestyle.
Rick Padilla is the Director of Housing for Denver. He says the influx of people moving into Denver is have a real impact.
“On our community, on housing costs. We’re having to move further and further out which means it stresses our transportation system and that stresses jobs,” said Padilla.
CBSDENVER.COM SECTION: A Place To Call Home
That’s why the City is pleased to announce three new affordable housing loans that have been approved. They will build three multi-family rental developments, 294 units into the Hale, Northfield Stapleton and Westwood neighborhoods.
Calhoun says not only is affordable housing inventory low right now but the cost has doubled. She says a one bedroom apartment now going for about $1200 and she just wants to find a home for her family.
“We don’t want to go back to asking people for things,” said Calhoun. “We don’t want that life for ourselves anymore. We want to be able to do it on our own.”
Over the last 10 years, more than 100,000 people moved into Denver. It’s expected that another 100,000 will be moving in the next decade. These three new housing projects are expected to be completed in early to mid-2017.
Here are some of the highlights on the new developments and their locations:
The Ash Street Apartments
Located within the redevelopment district at Ninth Avenue and Colorado Boulevard, the Ash Street Apartments will provide 112 housing units to households earning up to 60 percent of the area median income (or $47,940 for a family of four). The five-story structure will offer units ranging from one to three bedrooms, with each including an individual patio. The development, located at 1126 Ash St., will receive $1 million from the revolving loan fund. Project developer is Koelbel and Company/Mile High Development.
Westwood Crossing Apartments
McDermott Properties, LLC is developing a 2.19-acre site at 3390 W. Alameda Ave. into the four-story Westwood Crossing Apartments. The project will provide 98 units (one to three bedrooms) for households earning up to 60 percent of the area median income. The mixed-use development will include commercial space on the ground floor for small business and/or retail. Revolving loan fund financing is $1 million.
Northfield at Stapleton Apartments
Located north of I-70 at Northfield Boulevard and Spruce Way, Northfield at Stapleton apartments will include 84 units, ranging from one to three bedrooms for households earning from 30 to 60 percent of the area median income. Developed by northeast Denver housing center, the three-story building will include private patios/balconies. The project is receiving $900,000 from the revolving loan fund.