Affordable housing for families: Denver considers $6.8 million developer loan

Photo byNational Cancer InstituteonUnsplash

The Denver City Council soon will consider whether to loan a developer $6.8 million to help pay for land from which a new affordable housing community for families will sprout.

The Safety, Housing, Education and Homelessness Committee allowed the loan agreement to proceed to the full council this week. The item appeared on the committee's consent agenda. The meeting was canceled but the consent agenda moves forward. Delwest Development Corporation wants to build the 170-unit Albion Apartments at 2222 S. Albion St. in University Hills.

According to a memo from city staff to the committee, “The building seeks to serve families by providing larger units including 27% family sized three- and four-bedroom units. Two-bedroom units make up the rest of the building and provide residents with almost 1,000 square feet of living area. Delwest has also included space in the building for a 5,000-square-foot early childhood center with adjoined 1,300-square-foot covered outdoor space on the second floor. They intend to partner with national school program, Wildflower Schools, for an on-site Montessori childcare facility that focuses on underserved communities.”

Income guidelines

The community will serve people making between 30 and 70% of Denver’s average median income, or AMI. That means a single person cannot make more than $27,400 to qualify for 30% AMI. A three-person family earning 70% AMI could earn about $80,000 annually.

Units for those at 70% AMI will comprise about 48% of the building. Just 16% of the units will be available for those at 30% AMI. The rest will be dedicated to residents making 60% of AMI, or $62,640 annually or less for a couple.

Park Hill Station Apartments

Photo byDelwest

Delwest in 2016 opened the Park Hill Station Apartments as an affordable housing community. Amenities include pet-friendly apartments, washers and driers standard in each unit, free parking, a large clubhouse with games and computers, and easy access to the RTD Light Rail, major highways and other public transit options, according to the Delwest website. There ar 80 voucher-funded apartments at Park Hill Station, with 11 permanent supportive housing vouchers. Permanent supportive housing voucher recipients at Park Hill Station have case workers from a variety of local service providers, including South Metro Housing, MHCD, Atlantis, United Way and Urban Peak.