East West Partners and Crescent Real Estate are teaming up with Integral Development and the city of Denver on an affordable housing project in the Union Station neighborhood.
The project, scheduled to break ground this summer, will be a 108-unit, low-rise building at the corner of 18th and Chestnut streets.
"We really want the Union Station neighborhood to be for everyone, and this affordable housing development ensures that the community will provide options for all families," says Chris Frampton, Principal at East West Partners.
The one-acre parcel is one of the last remaining parcels in East West Partners' longtime partnership with Crescent, which began with the purchase of the land that is now Riverfront Park. The City and County of Denver worked closely with Integral to support the affordable housing development, which will receive tax credits through the Colorado Housing and Finance Authority.
"The mixed-income housing made possible by East West Partners' sale of this land completes the last missing piece at Denver Union Station," says Robin Kniech, at-large Denver City Councilwoman who served on the Denver Union Station Project Authority from 2010 to 2011. "We had a half billion dollars in public investment in transit, a half-billion dollars of private investment, and now we have a diversity of incomes able to access these amenities."
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