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Denver condo market finally heating up; 40-unit project to break ground in LoHi

Bristlecone Construction will break ground May 30 on The Edge, a 40-unit condominium building at 1735 Central St. in Denver’s Lower Highland neighborhood.

The building, which will be constructed of steel and concrete, will have a dog spa, storage units, bike storage and repair room, a lobby lounge with a fireplace and coffee bar and two levels of secured parking with dedicated parking spaces.

"We're seeing what happens when you introduce a terrific new development in one of the best neighborhoods in the city and then allow people to select their home and lock in their price for as little as 5 percent down," says Stan Kniss, managing broker of  Slate Real Estate Advisors, which is listing the condos. "In just a few short weeks, we're already roughly 30 percent sold out."

The steel and concrete construction allows for higher 9-foot ceilings and 8-foot doors. It also provides superior sound protection compared with a wood-frame building. The concrete regulates heating and cooling for greater energy efficiency and prevents mold and termite issues, meaning fewer chemicals are needed in construction.

The living rooms in the units, which range in price from the low $400,000s to $1.75 million, have wide-plank oak flooring; built-in gas fireplaces; and unobstructed views of the Denver skyline through 8-foot acoustically engineered windows. Kitchens have Bosch stainless steel appliance packages that include French door refrigerators, freezers, gas ranges, dishwashers and built-in microwaves; solid quartz countertops; porcelain backsplashes; and solid-core shaker-style cabinets. The bathrooms have frameless glass shower enclosures; quartz vanity countertops; and large-format porcelain tile floors.

All units have private outdoor balconies or patios. 

 

Public input sought on affordable housing action plan

The Denver Office of Economic Development is seeking public input and comment to its proposed 2018 federal Action Plan for local housing, economic development, public service and neighborhood facilities programs that use federal funds.

Public meetings will provide an overview of Denver’s proposed framework that partners with the Denver Housing Authority to double the Affordable Housing Fund annually — from $15 million to $30 million — and generate a new funding surge of an estimated $105 million for affordable housing over the next five years.

The draft action plan document, which will be submitted to the U.S. Department of Housing and Urban Development (HUD), will be available for a 30-day public comment period through June 15 and denvergov.org/oed.

The 2018 Action Plan encompasses the following federal programs:Community Development Block Grant Program, HOME Investment Partnership Program, Housing Opportunities for Persons with AIDS Program and Emergency Shelter Grant programs. The plan includes information about the overall goals and objectives for the year with a description of the available resources and proposed actions to address identified needs. All proposed activities and projects are intended to benefit the citizens of Denver who have extremely low and moderate incomes and populations that have special needs such as elderly, disabled, homeless individuals and families and people with HIV/AIDS.

The meetings will be held from 4:30 to 6 p.m. May 10 in the Wellington Webb Building, 201 W. Colfax, Rooms 4.F.6-4.G.2; and from 6 to 7:30 p.m. June 6 at the Montbello Recreation Center, 15555 E. 53rd Ave. in the community room.
 

Hilltop to get new senior living community

Focus Property Group and Ascent Living Communities are teaming up to bring a senior living community to Denver’s Hilltop neighborhood.

The project, which is yet to be named, will offer urban-style living on a 4.4-acre site at the corner of Hilly Street and Leetsdale Drive.

The property will have more than 200 apartments on three levels plus an underground garage. The apartments will be a mix of independent living apartments, assisted living suites and memory-care suites. The three floors of residences will be organized around three internal courtyards, and the building will be positioned along Leetsdale Drive. The courtyards will create a variety of activity choices and experiences, each with a unique set of amenities. A two-level courtyard will provide opportunities for strolls among rock formations and water features; and a more formally manicured courtyard will be equipped with lawn games and an amphitheater.

Residents also will have access to multiple recreational facilities, including a fitness and yoga center and a full aquatics center housing a lap pool, therapy pool, spa and a reverse-current resistance walking pool. Varied restaurant options also will be available, with a bistro offering chef-driven cuisine and al fresco dining with scenic views.

“It was important that this new community reflect the urban amenities and refined architecture that are characteristic of Hilltop,” says Josh Fine, executive vice president of Focus Property Group. “I live a few blocks away and our family has deep roots in the neighborhood, so we want this project to reflect all that is great about living in the area.”

Construction is expected to start in the first quarter of 2019, with initial move-ins planned for summer 2020. Hord Coplan Macht is designing the project.

Downtown Denver award winners announced

The Downtown Denver Partnership recently announced the 57th Annual Downtown Denver Awards winners recognizing transformative projects in downtown Denver that contribute to an economically health, growing and vital center city.

The honorees, selected by a jury of key business leaders convened by the Downtown Denver Partnership, are businesses, projects and initiatives that have had the most significant economic impact on the center city in 2017. The winners were showcased at an event April 17 attended by nearly 1,000 business and civic leaders with videos produced by Comcast and Westworks Studios.

The award winners were:
  • Ashley Union Station
  • Confluence Park-Shoemaker Plaza Reconstruction
  • Le Meridien and AC Hotel by Marriott Denver Downtown
  • The Aerospace and Engineering Sciences Initiative at Metropolitan State University of Denver
  • Rocky Mountain Seed Buildings
  • Union Station Block A
“Tonight’s 57th annual Downtown Denver Awards dinner is about the brave, bold risk-takers who have shaped our city,” Downtown Denver Partnership President and Chief Executive Tami Door said during the dinner. “Thank you to the winners, the business community and all who help make this city stronger.”

In addition to recognizing the winners, the partnership also honored The Brown Palace for 125 years of service and hospitality and the Community College of Denver for 50 years of service to education.
 

More Laurel Cherry Creek condos released for sale

Kentwood Real Estate has released another phase of condominiums for sale at Laurel Cherry Creek.

The newly released collection of high-rise condos includes one of each floor plan and an 11th floor penthouse. Previews are available by appointment with Kentwood listing broker Dawn Raymond. Interested buyers can visit the sales gallery to view the finish packages, the 3D interactive model with views for each residence and interior, exterior and amenity renderings.

“Because our first phase of sales outpaced construction, the development and sales team have waited until now to come back to market, when we can present the final finishes and floor plans,” says Raymond, who specializes in luxury properties in and around Cherry Creek. “Interest has been high for Laurel Cherry Creek, and we look forward to welcoming potential buyers.”

Located at 215 St. Paul St., features for Laurel Cherry Creek include:
  • Private balcony or terrace with glass railings
  • Pella multi-panel sliding glass doors or folding glass NanaWall
  • Custom-designed, stained 8-foot walnut entry doors
  • 8-foot solid-core contemporary interior doors
  • Linear gas fireplaces
  • Up to 10-foot-8-inch ceiling heights throughout living areas
  • Looped-wool carpet in all bedrooms
  • Porcelain tile flooring in all bathrooms and laundry
  • Energy-efficient LED lighting
  • Natural gas BBQ service and hose bibs on balconies
  • Prewired with fiber-optic technology
“We have designed Laurel Cherry Creek to be the preeminent residential address in Cherry Creek,” says Paul Powers, president of Pauls Corp., which is developing the project. “Owners will enjoy upscale, maintenance-free living in one of the most sought-after neighborhoods in the United States.”

New Highland townhouses will have views of Denver skyline

Sagebrush Cos. has started construction of 29ZEN, a luxury townhome development at West 29th and Zenobia streets in Denver’s Highland neighborhood.

Designed by Sanzpont Architecture and S-Arch, 29ZEN will have 14 residences with prices starting at $649,999. There will be a mix of two- and three-bedroom units with an average size of 2,000 square feet. Some of the town homes will have rooftop decks with views of the Denver skyline and walkout basements. The general contractor is K2, and MileHi Modern is the listing brokerage.

“We have had the pleasure of delivering quality residential developments to people living and working in Denver’s urban core, and 29ZEN will be another development that meets our company’s very high standards,” says Robert “Jake” Jacobsen, founder and chief executive of Sagebrush. “We take a great deal of pride in identifying unique real estate opportunities that will bring success to our partners and, most importantly, the communities we intend to serve with our projects. 20ZEN will accomplish all those things.”
 

CU Denver team takes second in HUD competition

A student team from the University of Colorado-Denver College of Architecture and Planning took second place in the U.S. Department of Housing and Urban Development’s Affordable Housing competition.

The goal of the national competition was to advance the design and production of livable and sustainable housing for low- and moderate-income people through research and innovation. The competition asks teams to address social, economic and environmental issues in their response to a specific housing problem developed by an actual public housing agency.

The CU team, which included Stacy Ester, Joel Miller, Adam Buehler, Nora Bland and William Dolenshek, won a $10,000 prize.

The team’s project, entitled “Allied Living,” was designed to be a community grounded in safe, inclusive and connected spaces. Five guiding principles — identity, connectivity, accessibility, wellness and experience — informed the team’s design. The walkability and accessibility of the site connects larger community hubs through smaller social nodes, intentionally using everyday places to encourage interaction and place making. Sunlit spaces, community gardens and ease of access to nature support the overall wellness of the community’s residents.

Allied Living was envisioned to be a home where residents can express their own identities, branch out to experience new things and connect with empowering community partners as well as each other. Achieving the vision required proposing an inclusionary zoning provision to the existing zoning and balancing the project’s hard and soft costs with anticipated sources of funding and income.

Koelbel develops landmark hospital into townhomes

Koelbel Urban Homes has broken ground on Sloansedge Southshore Townhomes, a 27-unit residential project on the former St. Anthony Hospital site at Sloan’s Lake.

“Sloansedge is exactly what Denver’s home seeker has been waiting and asking for,” says Peter Benson, senior vice president for Koelbel Urban Homes. “It’s ideally located in one of Denver’s desirable mixed-use areas but is still priced reasonably for all stages of home buyer.”

Located near the Highland and Edgewater neighborhoods, Sloansedge is just blocks from light rail. It’s directly across the street from the 284-acre Sloan’s Lake Park, Denver’s largest recreational body of water with more than three miles of trails, a marina, sports fields, tennis courts and a new playground. Sloan’s Lake offers sailing and kayaking from the marina and is a short walk or bike ride to cafes, breweries, restaurants and groceries.

The two- and three-bedroom townhomes range in size from 1,335 square feet to 2,600 square feet. Prices start in the mid $500,000s. Each of the five floor plans has large windows and outdoor entertainment spaces, some with views of the city, lake or mountains. All incorporate energy-efficient features and high-quality finishes such as quartz countertops and pre-finished hardwood throughout the main living level.

The sales center is now open at 4052 W. 17th Ave.

CHFA gets $7.1 grant for affordable housing

A $7.1 million grant to Colorado Housing and Finance Authority (CHFA) will support the development and preservation of affordable rental housing across the state.

CHFA estimates the grant will help provide housing for about 725 households in both rural and urban communities.

“The need for affordable housing across Colorado is significant and spans the housing continuum from those experiencing homelessness and special needs to housing for our seniors, veterans and workforce,” says Cris White, CHFA executive director and chief executive. “Investment in affordable housing is an investment in our state’s infrastructure and quality of life. We are very excited to receive this award and will use these resources to help local communities target their specific and unique housing needs.”

The Capital Magnet Fund grant will help further the reach of Colorado’s federal Low-Income Housing Tax Credits and state Affordable Housing Tax Credits by supplying additional gap funding required to make it feasible for affordable housing developments to be constructed or preserved.

Affordable housing is a much-needed resource in a state where population growth, combined with escalating development and construction costs, continues to place pressure on an already tight housing market. Colorado is ranked the fifth-most-challenging state in the nation for extremely low-income renters to find affordable housing, with only 27 affordable homes for every 100 extremely low-income renter household, according to the National Low Income Housing Coalition.

The Capital Magnet Fund is administered by the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). The Capital Magnet Fund was established by Congress in 2008, and offers competitively awarded grants to finance affordable housing solutions and community revitalization efforts.

Denver in program to keep low-income people in city

Denver has been selected to participate in a new program designed to stop forcing low-income residents out of cities.

Through the All-In Cities Anti-Displacement Policy Network, city teams will promote a range of strategies, including renter protections, community land trusts and community ownership models, commercial neighborhood stabilization, inclusionary zoning and other equitable development strategies. Participants will work to build the power, voice and capacity of communities directly impacted by displacement in defining the challenges and advancing solutions.

“Joining the All-In Cities Anti-Displacement Policy Network is an opportunity to work with our peer cities on new ways to ensure our economy works for everyone and address the same affordability challenges we’re all facing,” Mayor Michael Hancock said. “It’s our job to bring opportunities to communities that lift people up, not push them out, and our strong economy and market shouldn’t leave a single one of our residents behind.”

Network activities will include virtual learning labs, individualized coaching sessions with national experts and peer-to-peer learning opportunities. The network participants will first meet at the PolicyLink Equity Summit April 11-13 in Chicago. There will be another gathering this fall.

Each city has created teams of up to six local leaders, including mayors and city council members, senior city staff and community leaders. Denver’s team includes City Council President Albus Brooks; Jenny Santos, legal advocate of Servicios de La Raza Inc.; Sarah Showalter, citywide planning supervisor with Denver Community Planning and Development; Melissa Thate, housing policy officer with the Denver Office of Economic Development; and Tracy Winchester, executive director of the Five Points Business District.

“The timing of our selection to this network speaks to the challenges we currently face as a city and our call to ultimate inequality,” Brooks said. “Economic growth has the capacity to build both bridges and barriers. Economic success must be shared by all. This network allows us to collaborate on smart policies that will create a truly inclusive economy for all residents.”

Other cities selected for the network are Austin, Texas; Boston; Nashville; Philadelphia; Portland, Ore.; San Jose, Calif.; Santa Fe, N.M. and Minneapolis-St. Paul, Minn.


 

Denver adopts five-year housing plan

Denver has adopted a five-year housing policy, strategy and investment plan that outlines the strategies that will guide the city’s affordable housing investments to create and preserve diverse housing options that are accessible and affordable to all residents.

Housing an Inclusive Denver is centered around four fundamental values:
  • Leveraging and enhancing housing investments to support inclusive communities
  • Identifying ways to foster communities of opportunity around good homes, good jobs, good schools and access to more transportation options and health services.
  • Looking at housing as a continuum that serves residents across a range of incomes, from people experiencing homelessness to those living on fixed incomes.
  • Embracing diversity throughout our neighborhoods to ensure that Denver remains a welcoming community for all residents.
“The adoption of our plan is a milestone in our work to ensure safe, affordable and accessible housing for every Denver resident,” says Mayor Michael Hancock. “This plan will guide our future housing investments in a way that reflects our city’s values, especially when it comes to helping lift up those residents that need our support the most.”

Action plans that support the implementation of Housing an inclusive Denver will be adopted annually by the Denver Office of Economic Development. The 2018-2023 plan recommendations include investment guidelines balanced along the income spectrum, with 40 percent to 50 percent of the city’s combined housing resources supporting people experiencing homelessness and/or earning between 31 percent and 80 percent of area median income and 20 percent to 30 percent of investments serving residents seeking to become homeowner or remain in the homes they own.

Aria Denver is part of National Building Museum exhibit

A Denver developer’s cohousing project is featured in a National Building Museum exhibit called Making Room: Housing for a Changing America.

Located in Washington, D.C., the museum’s exhibit explores new design solutions for the nation’s evolving, 21st-century households. From tiny houses to accessory apartments, cohousing and beyond, these alternatives push past standard choices and layouts. the exhibit will run through Sept. 16.

Urban Ventures’ 28-unit Aria Cohousing Community, on the site of the former Marycrest Convent at West 52nd Avenue and Federal Boulevard, is similar to other cohousing developments in that residents have private living spaces, as well as community-based common areas that allow them to share meals and interests. The goal is to create an intergenerational and mixed-income community that is committed to sustainability, inclusivity and intellectual growth.

“We are honored to have the Aria Cohousing Community showcased in the National Building Museum as recognition of cohousing as a successful lifestyle that promotes community engagement and social cohesion at a time when there is so much isolation in our country,” says Susan Powers, president of Urban Ventures.

The post-World War II suburbanization of America was driven by the housing needs of nuclear families, the nation’s leading demographic, according to the National Building Museum. In 1950, these families represented 43 percent of households; in 1970 it was 40 percent.

Today, nuclear families account for 20 percent of America’s households, while nearly 30 percent of people are single adults living alone, a growing phenomenon across all ages and incomes, and it’s causing developers to reimagine the way they build communities.

In addition to the Aria Cohousing Community, the Making Room exhibit features housing alternatives like micro-apartments in New York City; backyard accessory cottages in Seattle; and tiny houses that are helping the formerly homeless in Austin.
 

CHFA invests $2.36 billion in affordable housing in 2017

The Colorado Housing and Finance Authority invested a record $2.36 billion in affordable housing last year.

The organization helped more than 8,000 Coloradans become homeowners and supported the development or preservation of more than 6,000 units of affordable rental housing. Both figures are at the highest levels ever for CHFA, which was created in 1973.

“CHFA is a mission-based organization, so our production growth is directly aligned to the growing needs of those we serve,” says Cris White, CHFA’s executive director and CEO. “In the last three years, CHFA’s investment in affordable housing has increased 182 percent compared to 2011 through 2013, with 2017 being our most historic year yet in terms of production. This demonstrates that demand for affordable housing options in Colorado, whether purchasing or renting, is at an all-time high.”

To help Coloradans purchase homes affordably, CHFA offers 20-year fixed-rate home loan products at competitive rates, with options for down payment assistance. In addition to grants, CHFA last year launched down payment assistance in the form of a second mortgage. It also offers Mortgage Credit Certificates, a tax credit that can save homeowners 20 percent of their mortgage interest each year.

CHFA also sponsors statewide home buyer education classes, which reached the highest level of enrollment to date in 2017 with 13,224 households served.

To support the development or preservation of affordable rental housing in Colorado, CHFA allocates federal and state Low-Income Housing Tax Credits and also offers financing to developers. Last year, CHFA awarded $53.2 million in credits to support 4,397 units of affordable rental housing that will be built or preserved by undergoing renovations.

CHFA also invested $363.3 million in multifamily financing, bringing the total number of units supported last year with either loans or tax credits to 6,217, setting a new benchmark for total units supported by CHFA in one year.

“CHFA will continue to work with our communities and housing partners in 2018 and the years ahead to help make Colorado a more affordable place to live,” White said. “Identifying ways to leverage and increase resources for both for-sale and rental housing is key, along with preserving existing affordable rental housing stock.”
 

Eight showrooms sign on to IDC Building

When The IDC Building opens early next year, it will house up to 15 of the metro area’s top home-design showrooms in 60,000 square feet at 590 Quivas St.

The showrooms will offer a variety of products and services an a range of styles from modern to contemporary and traditional to transitional. Each showroom was chosen for its unique product selection and the value they bring to trade professionals and homeowners alike.

“Gone are the days of the traditional design center model with exclusivity only to the trade and doors and walls between every showroom,” says Al Castelo, head developer of IDC. “When creating The IDC Building concept, my team and I visited major design centers around the country and discovered the demand for a more experiential retail model. We chose to build a community at IDC and create an accessible environment that encourages partners, homeowners and the trade to collaborate.”

So far, eight showrooms have signed onto to be part of The IDC Building:
  • Aztec Carpet & Rug
  • Benjamin Moore
  • Classy Closets
  • Custom Concrete Prep & Polish
  • Inspire Kitchen Design
  • Lolo Rugs & Gifts
  • T&G Flooring
  • Ultra Design Center
The functional displays will allow visitors to experience how products will look and work in their own homes.

The building was a collective effort designed by architect Hartronft Associates and developed and owned by Tri-West Companies.
 

Colorado Enterprise Fund to participate in CO Impact Days

Colorado Enterprise Fund is among the 100 social ventures seeking “impact investments” that was chosen to meet with investors at CO Impact Days Social Venture Showcase Nov. 17.

The 100 ventures will convene at the Ellie Caulkins Opera House for the second year of the “shark-tank for good” statewide marketplace for impact investing. The selected social ventures will showcase their investment opportunities to offer not only a financial return on the impact investor’s investment but also to offer solutions to some of the most pressing issues of our time.”

“We are so thrilled to again invite more than 200 investors and philanthropists to interact with these valuable social ventures,” says Dr. Stephanie Gripne, founder of the Impact Finance Center and creator of the CO Impact Days. “When these two groups of powerful movers and shakers share a room, there is no telling the good that will come. We’ve aimed to offer a diverse array of impact investments, with a goal that every investor will leave knowing that deal flow is not a Colorado impact investing problem.”

The goal of CO Impact Days is to catalyze $100 million in impact investments into Colorado social ventures in the next three years, and it is kicking off with CO Impact Days Nov. 15-17. The initiative is possible because Colorado is home to a number of national leaders in impact investing and a thriving and collaborative community of social venture entrepreneurs in both the for-profit and nonprofit sectors, as well as philanthropists and investors who are committed to growing Colorado’s economy and creating good jobs.

“Funding from these impact investors will enable us to serve more Colorado businesses, which in turn will ultimately advance economic opportunity and prosperity in our Colorado communities,” says Ceyl Prinster, president and CEO of Colorado Enterprise Fund.
 
236 housing Articles | Page: | Show All
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