'It Would Be Beautiful': New Development Promises To Bring Opportunity

DENVER (CBS4) - More than a hundred new apartments, restaurants and shops will soon open in the Five Points Neighborhood. The community celebrated a groundbreaking ceremony on Wednesday.

The Hooper will stand near 26th Avenue and Welton Street.

Jazz music echoed through the streets of one of Denver's oldest neighborhoods. The neighborhood is significant because of its culture-rich past, but recently it's changed a lot.

"Some for the good, some not so much. I think displacement, you see that a lot," Five Points resident Chaz Gormley told CBS4's Michael Abeyta.

The area has become the latest target for urban renewal, and the people who built Five Points are being priced out.

"When you put up these new things, it's probably going to bring a higher price point. It's probably going to mean the stuff in there is a bit more expensive, and if you're not providing jobs for the people around here then you're not providing facilities for them either," he said.

A new project is trying to bring renewal and preservation together. The Hooper will be a nine-story facility in Five Points. It will include will include a restaurant, office space, and apartments. Developers are working to hire members of the Five Points community for the jobs it will create.

"The people who live here. The people who made this community great will have jobs here," said Mayor Michael Hancock.

The hope is that by giving Five Points residents opportunities, they will be able to prevent displacement and preserve the neighborhood's history.

"It's American history. We celebrate everything else. We have to celebrate all people," Gormley said.

Gormley lives in Five Points and owns TSG security which provides security for local businesses. He hopes this project will give residents a chance to thrive.

"It would be beautiful to see people be able to take advantage of this (who) were here when nobody cared about Welton Street," he said.