New units are income restricted for a range of low- and moderate-income households
Denver’s Department of Housing Stability (HOST) and City Council Member Christopher Herndon today celebrated the grand opening of two affordable communities in Central Park that are bringing an additional 217 affordable apartments to Denver. Developed by Northeast Denver Housing Center (NDHC), the Central Park II and III Apartments provide rental units for individuals at a range of low- and moderate-income levels, from up to 30 percent to up to 60 percent of the area median income (AMI).
“We’re committed to ensuring that housing is within reach for all individuals and families living in Denver,” Mayor Michael B. Hancock said. “Central Park II and III are two big steps toward fulfilling this vision as we continue to partner with the community to expand affordability.”
The celebration took place at the Central Park III Apartments, 3500 N. Uinta St, located within walking distance of the Central Park Station commuter rail. The three-story development offers 127 units, ranging from studios to three bedrooms.
N. Beeler St. and features similar construction and amenities, with a total of 36 family-sized three-bedroom units. Units at both properties contain large windows, allowing natural light to reach all parts of the units, enhancing daylighting while decreasing energy cost and usage. All units have private patios, metal balconies or Juliet balconies. Amenities include an indoor/outdoor club room and playground.
“Today we continue to fulfill the commitments made in the Green Book by ensuring that Central Park offers a wide range of housing stock, making sure Denverites from all walks of life can call this neighborhood home,” said Councilman Herndon. “We’re proud to add these units to the community and welcome our newest neighbors.”
NDHC’s property management company, Ross-Envolve, is actively leasing up all units and currently has a waiting list of 500 households. Rents range from $614 to $1,755 depending on unit size and AMI.
“Northeast Denver Housing Center is proud to be adding another two new affordable housing rental apartment buildings to the three we have already built in the Central Park neighborhood. Through our partnership with the City of Denver, State of Colorado, Colorado Housing and Finance Authority and Brookfield Properties, we have been able to complete nearly 1,000 units of affordable housing in Central Park,” said NDHC Executive Director Dominique Acevedo.
In addition to Central Park II and III, NDHC also has construction underway on the Central Park Condominiums, which will offer 70 income-restricted condos in early 2024. Located at 5702 N. Central Park Blvd., the project provides income-restricted units for households earning up to 80 percent AMI. A total of 55 units are reserved, with 15 units remaining.
Utilizing Denver’s Affordable Housing Fund, HOST provided $3,650,000 in gap financing for Central Park II and III, as well as $2,449,976 for the Central Park Condominiums. Other public finance partners include the Colorado Department of Local Affairs and the Colorado Housing & Finance Authority.
Central Park II and III are the latest city-supported affordable housing developments to open in Denver. A total of 1,824 affordable units that have received city financing are currently under construction at 33 sites throughout Denver. An additional 512 income-restricted units are in the planning stage.
Source: Denver Housing Stability
