Denver may lend a developer $1.25 million toward building modern low-income senior housing at 2189 N. Valentia St.
The Denver City Council's Safety, Housing, Education and Homelessness Committee approved the loan Wednesday. The full City Council also must sign off on the loan.
The apartment community will boast a rooftop deck with sweeping views of the front range. The apartments will serve people living at between 30 percent and 60 percent of the average median income, or AMI. That amounts to between $24,630 and $49,260.
Uinta Senior Apartments LLLC will build St. Stephens for people 62 and older. One-bedroom apartments will be 638 square feet, with two-bedrooms as large as 821 square feet.
Five units out of 50 will be reserved for people making at 30 % AMI, 12 units at 40 % AMI, 18 units at 50 % AMI and 15 units at 60 % AMI. Rents for one-bedrooms based on 30 % AMI will be about $659 per month.
The conveniently located building is just a block to an RTD stop, within walking distance of a medical clinic and convenience store and within a mile of a grocery store, pharmacy and shopping center. All are accessible by bus. There will be 19 parking spaces at St. Stephens, with two pre-wired for electric vehicle charging.
“Amenities include a large, flexible community space that will be used for recreation and group exercise and will include a warming kitchen for resident gatherings, folding tables and chairs and group exercise equipment, a roof deck with views of the front range, meeting rooms for service providers and community gardens,” according to a memo from city staff to the Safety, Housing, Education and Homelessness Committee. “The property will be served by an on-site manager and maintenance staff.”
Attractive, green building
The building will have an appealing finish, according to the memo to the committee. “Construction will be wood frame over a post tension slab on grade with an attractive skin comprised of a combination of brick, stucco and siding.”
The building also will be environmentally friendly. “Heating will be provided by hydronic fan coils in each unit served from central gas-fired water heaters that double as a domestic hot water source,” according to the memo. “This centralized hot water system will be configured so that in the future the gas fired heaters can easily be replaced by water-source heat pump-style electric water heaters, thus making the building ‘all-electric ready.’ Cooling is provided by roof-mounted electric condensers.” The building will be “solar-ready."
The cash-flow loan by the city must be approved by the full council even if the committee signs off on it.