A large apartment complex boasting 253 “affordable” units may rise at 38th and Holly in Denver.
The Safety, Housing, Education and Homelessness Committee of the City Council voted Wednesday to offer incentives to Delwest Development Corporation to build the project. The city plans to use American Rescue Plan Act and HOME money to lend Delwest $8.3 million.
At buildout, the $93 million project would feature eight three-story buildings, according to a presentation by city staff for the City Council. There would be 84 one-bedroom units, 104 two-bedroom units, 36 three-bedroom units and 29 four-bedroom units. The four-bedroom units would be three stories with attached garages, according to the presentation.
Units for those between 30 and 80 percent AMI
“Affordable” means renters can make between 30 and 80 percent of the average median income, or AMI, to qualify for the units. Fifteen percent of the units will be reserved for those making 30 percent of AMI, or about $24,000 annually, according to the presentation. One-quarter of the units will target those at 50 percent AMI, or about $41,000 per year.
The development would boast several modern features, according to the staff presentation. Buildings would be energy efficient. Ten percent of the parking spaces would be electronic vehicle ready. There also would be at least 50 bicycle parking spaces.
The buildings would consist of wood framing with brick, stucco, and siding exterior finishes, according to the staff presentation.
Market-rate finishes, other amenities
Units would feature market-rate finishes, including granite-hard surfaces, kitchen islands, LED lighting, Energy Star appliances, ceiling fans, dishwashers, garbage disposals, microwaves, central air conditioning, in-unit clothes washers and dryers, window coverings, smart locks, and secure building access.
Additionally, the development would boast an “enhanced community center,” according to the presentation, with high-speed wi-fi, fitness room, computer and printer access. There even would be individual case worker/non-profit partner offices, and multi-purpose flex spaces for child learning pods and adult education classes.
Opening winter 2025
The grounds would feature play areas, a dog run, and picnic area. The site is located at 5908 and 5909 E. 38th Ave.
Councilmember Robin Kniech said she hopes the community will offer services to its residents such as a food pantry. Even if the committee approves the loan, the full City Council still must sign off on the project.
Construction is expected to take two years, with units leasing in winter 2025.