Denver considers $13M bond issue to renovate affordable housing in former hotel

In recent news, Colorado Politics highlights new development for affordable housing in Denver.

 

“A former Capitol Hill hotel that was once home to some famous Beat Generation writers and later became a place for low-income residents is in line for a major makeover if the Denver City Council approves a $13 million bond finance measure.

The Council is considering the bond plus a $3.45 million loan so that Gorman & Co., a national developer that specializes in affordable housing, can renovate 91 affordable housing units at the Colburn Hotel, 980 Grant Street”

 

Read more on Colorado Politics here.

Denver finds creative way to bring stability to vulnerable homeowners, affordable option for renters

“DENVER – The Denver Housing Authority is committed to helping vulnerable homeowners avoid displacement.

The Authority’s West Denver Renaissance Collaborative has launched a pilot program to make sure residents in nine west Denver neighborhoods can benefit from the renaissance underway in that part of the city.

“Those neighborhoods are having some of the highest challenges with affordability,” said DHA Executive Director Ismael Guerrero. “Only 35 percent of existing homeowners and maybe 14 percent of renters can afford to buy new homes in those neighborhoods.”

 

Read more on Denver7 here.

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Millennials still have a crush on Denver, survey finds

The Denver Post highlights millennials increased interest to live in Denver.

 

“High housing costs may be stretching them financially, but millennials haven’t lost their affection for Denver, according to a new index from Meyers Research.

Denver ranked sixth on the Meyers Millennial Desirability Index, behind Dallas, Houston, Austin, Phoenix and Orlando.

What those metros share in common are home prices substantially below Denver’s. The median home value in Denver is $427,300, while in Dallas it is only $214,900, according to Zillow.

But the Mile High City is strong enough in other areas to keep young adults swiping right and not left.”

 

Read more on The Denver Post here.

Growth drives opportunity in emerging micromarkets

The Colorado Real Estate Journal covers strong economic growth trends in the Denver metro area.

 

“This boom in employment and attraction of talent is exemplified by metro Denver’s technology sector, which has grown considerably in recent years, boosting the number of tech companies located in downtown Denver from 384 in 2010 to 626 in 2017, a 63 percent increase that will continue to rise. Drawn to the area given Denver’s young and highly educated workforce, desirable quality of life and its low cost of living relative to San Francisco and the Silicon Valley, companies have continued their migration to the Mile High City, contributing to a successful technology ecosystem that has benefited Denver’s local start-up scene and its increasingly diverse economy.

The State of Colorado’s Demographic office is forecasting that Colorado could be home to 8.5 million people by 2050 – an increase of 54 percent in a little more than three decades – with most of the growth occurring along the Front Range. Quality of life in the Front Range depends greatly on mobility and reliable access to jobs, services, education and recreation.”

 

Read more on The Colorado Real Estate Journal here.

Income-restricted apartment project breaks ground near 38th and Blake in RiNo

This just in! BusinessDen highlights development of income-restricted residential units.

 

“Nonprofit Urban Land Conservancy and development partner Medici Consulting Group held a groundbreaking ceremony Thursday afternoon for the duo’s 66-unit Walnut Street Lofts project, at 3773 Walnut St., which is expected to cost $18.8 million.

The project, announced in September 2017, is expected to be completed next spring. ULC and Medici previously partnered on the 2014 development of Evans Station Lofts at 2140 S. Delaware St.”

 

Read more on BusinessDen here.

Colorado Resources

More than 60 new, permanently affordable apartments are coming to the Cole neighborhood

Denver7 covers plans for permanent affordable apartments in Denver.

 

“The Urban Land Conservancy (ULC), in partnership with Medici Consulting Group (MCG), will break ground on the development of 66 new, permanently affordable homes at the intersection of Denver’s Cole, Five Points and RiNo neighborhoods.

The plot of land where the development will be constructed will join ULC’s growing Community Land Trust (CLT), “ensuring the housing remains permanently affordable through a 99-year renewable ground lease,” Christi Smith, a spokeswoman for ULC, said in a news release.”

 

Read more on Denver7 here.

Denver’s mayoral challengers propose construction moratorium, rezoning restrictions as Hancock pushes 2040 vision

In recent news, The Denver Post covers future plans for development and rezoning for Denver.

 

“The debate over what Denver’s future should look like is coming into sharper focus as the city’s May election approaches, with Mayor Michael Hancock’s challengers proposing new restrictions on construction and development.

On Wednesday, Penfield Tate’s campaign called for the city to freeze new construction requests until the election has passed. In a statement to The Denver Post, he said there “should be a moratorium on approving any new permits immediately.”

 

Read more on The Denver Post here.

Nonprofit looks at ways to improve housing options for those in need

The Durango Herald highlights Housing Solutions, plans to find more affordable housing.

 

“Without stable affordable housing, it is difficult for people to address other needs in their lives such as cooking healthy meals and seeking health care, said Brigid Korce, program development director forHousing Solutions for the Southwest, a nonprofit that offers housing assistance.

Thousands of people come to the nonprofit each year seeking help with affordable housing. The new initiative is meant to better serve more clients.”

 

Read more on The Durango Herald here.

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‘Excited To Have Our Own Home’: Habitat For Humanity Breaks Ground On New Neighborhood

CBS4 covers Habitat for Humanity’s latest affordable housing development in the Elyria Swansea neighborhood.

 

“DENVER (CBS4) – Habitat for Humanity broke ground on its newest development in the Elyria Swansea neighborhood Thursday to providing more affordable homes to residents looking for a permanent spot in the community.

“We have lived here really for 11 years and we’re really excited to have our own home here now,” said Araceli Guerrero Ramos, through a translator.”

 

Read more on CBS4 here.

Larimer Square owner vows not to demolish historic buildings on storied Denver block

The Denver Post highlights redevelopment plans for Larimer Square.

 

“Less than a month after opening a “community center” on the block to hear people’s hopes and concerns for the future of Larimer Square, the property’s owner has announced none of the historic buildings there will be demolished.

Jeff Hermanson, Larimer Square’s owner for the past 26 years, and his development partners with Denver firm Urban Villages have held fast to the position that new development along the historically protected 1400 block of Larimer Street is essential to keeping the aging buildings there functional and accessible into the future. The birthplace of Denver in the 1850s, the block today is home to posh shops, restaurants and offices.”

 

Read more on The Denver Post here.