DENVER (CBS4)– The grand opening of a new apartment building near Union Station is designed to help ease the tight rental market.
Denver Mayor Michael Hancock cut the ribbon on the apartment building on Thursday. The complex offers 75 units for low and moderate income households.
The majority of those units have already been leased.
There are nearly 900 units currently under construction in the Denver metro area in hopes of adding inventory to the rental market.
“We’re going to work hard to preserve what we currently have and work hard to build new affordable housing like units here at the Ashley 54, so families have decent, safe, affordable units in which to call home,” said Hancock.
Sixteen additional affordable rental developments are anticipated to begin construction in Denver by Spring of next year.