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Affordable housing opens in Hale neighborhood


Denver’s progress in addressing affordable housing challenges reached a milestone with the opening of the Ash Street Apartments in the Hale neighborhood. 

In addition to adding 112 income-restricted apartments for low- and moderate-income households, the opening marks the completion, one year early, of Denver Mayor Michael Hancock’s “3x5” initiative of building, rehabilitating and preserving at least 3,000 affordable housing units over five years.

“Reaching our goal a year ahead of schedule is a phenomenal achievement, and I couldn’t be prouder of how this city marshaled our collective resources to deliver more affordable options for our people,” Hancock says. “The opening of Ash Street Apartments is a major milestone, and we’re going to continue to pull on every lever we can to offer more affordable options for our residents.”

Located at 1170 Ash St., the complex offers units ranging from one to three bedrooms for households earning up to 60 percent of the area median income ($35,280 for a one-person household, or $45,360 for a household of three). Developed by Koelbel and Company, Mile High Development and Longs Peak Advisors, the $24.9 million project spans an entire block within the redevelopment of the old University of Colorado Health Science Center. Amenities of the five-story building include private balconies, 92 covered parking stalls and a second-floor community garden deck.

Public finance partners include the Denver Office of Economic Development, Colorado Housing and Finance Authority and the Colorado Division of Housing.

Read more articles by Margaret Jackson.

Margaret is a veteran Denver real estate reporter and can be contacted here.
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